Aeternity is a new crypto-platform as an Ethereum, but with many improvements. Aeternity gets its own blockchain, in which smart-contracts can also be used. At the moment Aeternity is still an erc20 token on the Ethereum blockchain. The techniques used ensure good scalability.
Mining uses a new Proof of Work algorithm called Cuckoo Cycle. Proof-of-Stake is also used, but only for decision-making on forks (adjustments to the blockchain).
The Aeternity blockchain will be launched in the 2nd quarter of 2018.
How To Buy HSR
So you’re interested in buying AE? Currently, there is no way to buy AE directly with fiat, so the best way to buy AE is to first purchase Ethereum, transfer it to your chosen trading platform and change it to AE. We’ll show you how.
2. Once your account has been created and confirmed, log into your Binance account. Once you have logged into the account, go to the menu, click on the funds section and then deposit on the drop down bar.
3. Once you’re on the Deposit section, click the drop down menu labeled “Select Deposit Coin” and look for Ethereum, or type ETH and select.
4. This is your Ethereum Deposit Address, we have chosen Ethereum instead of Bitcoin due to the lower fees and transfer times. Next we’re going to look at buying Ethereum and depositing it into your Binance account.
1. First change the Buy option from BTC to ETH for USD and then choose your amount.
2. When you have chosen the amount of Ethereum you want to purchase (A minimum of 0.05 ETH is required), you will need to register and confirm your CEX account and payment details.
Once that has been confirmed and the ETH has been deposited into your account, we will then need to move it over to Binance.
3. Select the Withdraw option at the top of the site and select Ethereum as your currency. You will then be given a field, where you will add a wallet. This is where you can transfer your money to Binance.
4. Go back to your Binance Account and copy the alpha numeric code under your Ethereum Deposit section and paste it into your Ethereum Withdrawal section on CEX.io. Confirm that this address is correct and press “Withdraw“.
Your Binance account will now be credited with Ethereum.
2. On the trading platform, select the ETH section and use the search function to search for AE/ETH and confirm.
3. On the AE/ETH trading section you can now choose how much AE you want to buy with your Ether. Once you have chosen your amount, press Buy AE and place your order.
Once your order has been fulfilled, your account will be credited. Congratulations you’re now the proud owner of AE.
Aeternity – A third-generation cryptocurrency
Bitcoin and related parties are seen as first generation cryptomints. The second generation blockchain is actually the same as the first generation, with the so-called’ smart-contracts’ added. Ethereum is such a second generation blockchain.
Aeternity also uses smart-contracts, but then outside the blockchain. This increases speed and anonymity. In addition, Aeternity offers many other advantages and is the first blockchain written in the programming language Erlang.
Hybrid Proof-of-Stake and Proof of-Work
Aeternity uses a hybrid Proof-of-Stake and Proof-of-Work argortme. Proof-of-Work is used for mining, and works according to the cuckoo cycle technique. This technique ensures that minen remains financially attractive for all users, and not just for large ASIC owners.
Proof-of-Stake is applied for forks. Forks are a way to change the’ rules’ of a blockchain network during an update. This means that all holders of AE coins can influence the future of the Aeternity blockchain.
The Aeternity blockchain is written in the programming language Erlang. Erlang is a professional programming language which is also used in the most demanding applications. Some of the features of Erlang are very high stability and fast performance.
One of Aeternity’s major innovations is the implementation of Oracles. Oracles ensures that real-world data can be retrieved and applied for smart contracts. Think of the weather, stock market prices or sports results.