I think every project that tries to win through marketing and propaganda will fail. We must produce better technology (and i think we do).
aeternity is one of the most advanced protocols, i’ve written about this here, i hope we can focus on technical arguments and not on propaganda and marketing.
## Why aeternity.
If you are familiar with basic Blockchain principles and Smart Contracts already, start with learning about aeternity's unique features. The aeternity protocol ships with a rich set of features and functionalities out of the box. A full specification and documentation of the protocol can be found on GitHub https://github.com/aeternity/protocol
### Technical Advantages Compared to Major Platforms:
- Confirmation times ~3 Seconds
- No scaling limits with built in trust-less off-chain State Channels
- Highest security standards with a type safe VM and functional Smart Contract Language
- Low-fees on-chain due to a highly optimized Consensus, VM and native transaction types
- No-fees off-chain for transactions and Smart Contract executions in State Channels
- Private transactions and Smart Contracts in State Channels
- Highly flexible Generalized Account model supporting all-types of signing options
- Built in Oracles for accessing external API's and real world data
- Built in Naming System for human readable names
Reference implementation [written in Erlang](https://en.wikipedia.org/wiki/Erlang_(programming_language)) by industry experts, the Language that powers 90% of today's world wide web.
### Universal
The aeternity protocol can do everything that you expect from a Smart Contract Blockchain platform like Ethereum or others. It can be used to power **Games, Payments, Identity, Decentralized Finance, Registries, Token-Economy, Logistics and more.** Some of the things are not yet invented that will be built with aeternity. **The future is yours.**
### Secure
aeternity is built with security in mind. The reference implementation is written in Erlang, following all standards of high-quality software engineering. Recurring security audits and intensive property based testing are part of the daily work of the protocol developers. In its security aspects on Blockchain, the aeternity protocol gets shipped with a type safe virtual machine called FATE (Fast aeternity Transaction Engine) which was engineered to boost efficiency (gas consumption) and security (type safe). Together with Sophia, a functional smart contract language that supports formal verification, the aeternity protocol provides an uniqe take on Blockchain and smart contract security. A highly paid bug bounty program is availabe for security researchers
### Scalable
In order to scale to billions of users and transactions the aeternity protocol provides trustless scaling through off-chain state channels. Without compromising on security state channels allow peer to peer transaction between users and the execution of smart contracts off-chain. This way aeternity has no limits in scaling. The network consensus of the protocol is fast. In average up to 15 times faster with a higher transaction throughput then comparable protocols. The confirmation time is as less as three seconds, which especially comes into account when looking at user experience.
### Efficient low-to-no fees
aeternity is equipped with dozens of unique native transactions types for State Channels, Oracles, Names among others. All functionality is optimized to work with minimal gas cost. Additionally, once established, within off-chain State Channels, there are no fees for transactions or smart contract executions. On-chain, with Bitcoin-NG, the consensus mechanism of the protocol allows for more transactions and gas (smart contract executions) per block. This relaxes the fee and gas market and leads to lower cost. Combined with the execution of smart contracts through the highly effient FATE VM, less overall Gas is needed. Additionally with off-chain State Channels, the aeternity protocol reduces the on-chain transaction and smart contract execution volumes massivly, which lowers the fees.
### Interoperable Oracles
Oracles are a special type of transactions on aeternity to request and provide data from data providers and APIs. If a smart contract for example is in need of todays weather data, a oracle request transaction including a data schema can be broadcasted on chain. Data providers can respond to data and charge a fee for providing the response. The other way around oracle provides can register on-chain and provide all types of data for free or by charging a fee. This allows smart contract developers to interact and build upon all sorts of APIs and create applications which are dependend on outside data (for example the current price of Bitcoin at a certain time).
### Open Source
The protocol and all essential developer resources are fully open source. There is no proprietary license whatsoever. The development is transparent and everyone can start contributing via GitHub, the Forum or physical Meetups.
### Decentralized
With Satoshi's heritage in its core (Nakamoto Consensus) the protocol is build to be decentralized. Everyone can host a node and start mining, connect to the network and help to secure the chain or verify transaction. The network is operated by an community of thousands of nodes. It is fully trustless, there is no central authority, no master nodes or kill-switches. With Cuckoo Circle, aeternity has choosen a highly efficient proof-of-work algorithm which is the first graph-theoretic proof-of-work, and the most memory bound, yet with instant verification.
### Public and Private
The aetrenity protocol is using the accounts model. All transactions are public by default. Aeternity allows a very flexible and open design of accounts, which is called Generalized Accounts that enable signing transactions with a high flexibility. Cryptographically the protocol uses Blake2b (256 bits digest) and ed25519. It supports Schnorr Signatures. The communication between nodes is encrypted with the noise protocol. Off-chain State Channel transactions and smart contract executions are fully private unless published on-chain for dispute resolution. It is easy to setup a private Blockchain network (example for Enterprise or Public Institions).
### User Friendly
A build in Naming System for human readable names allows you to point names to accounts and contracts (Example: ak_XbqHDRYPbuw3eVopLycGLwJY2mJGZfDBinaD1VAo7S4nYhii3 becomes yourname.aet). This makes transacting tokens between peers easiert and can help to make smart contract code more readable and upgradable.
### Governance
The aeternity community is governed by miners, users and developers. Through hard-fork signaling node operators can show their support for hard upgrades. All token holders can join a weighted delegated polling mechanism through an mobile and user friendly app with verifiable results on the aeternity Blockchain. Discussions are taking place in chatrooms, online forums, public events and in the aexpansions repository on GitHub.
### Development Sustainability
The protocol is rebust and reliable and build to last for aeternity even without maintanance or the development of new features. Nevertheless, the aeternity crypto foundation currently receive around 10.8% of the mining reward to support the long-term development and maintanance of the core protocol and essential resources. There is an open R&D Grant program available at www.aternity-foundation.org aswell as a Development Bounty program for contributors. To enable entrepreneurs and business to launch their own startup, there are programs for entrepreneurs www.aeternityStarfleet.com and a venture fund www.aeternity-Ventures.com to kickstart even more.You didn’t do anything wrong, but in China, the blockchain circle is quite complicated, and someone will use this tweet to create fake news. Everyone in the blockchain circle wants other projects to fail.