What Is Aeternity?
Aeternity is the development of the specialists who previously worked on the creation of Ethereum and Augur. The team is headquartered in Liechtenstein. The Aeternity coin was created as a means of payment that can solve the problem of long-term transactions. To achieve this goal, the creators have adapted the technology of smart contracts and decentralized oracles increasing the productivity.
To ensure the high speed of financial transactions, a service similar to the Lightning Network, implemented in Bitcoin, was created. This is a special platform that uses the so-called state channels". The programming language Erlang was chosen for the work, thanks to which it became possible to create working distribution groups with high resistance to failures.
Aeternity coin mining is possible. It is based on two consensus mechanisms - Proof-of-Work and Proof-of-Stake. The Aeternity mainnet implements a new protocol called Cuckoo Cycle. It makes it impossible to mine with ASIC miners. Experts have focused on mining using mobile devices, so you can get the cryptocurrency even with the help of a powerful smartphone or tablet.
