Ethereum Alternative Æternity Starts Phase Two of Crowdfunding Campaign

Æternity, a Liechtenstein-based startup developing a blockchain for scalable smart contracts, today starts phase two of its contribution campaign. Beginning at 13:05 GMT, it is capping the number of contributions at 21 million Swiss francs (CHF) in ETH and BTC. Once this cap is reached, contributions will be accepted for just six more hours.

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“We’re very pleased that our vision for a scalable smart contract platform is shared by so many contributors so far, and look forward to introducing Æternity to a broader audience through our Phase Two contribution,” said Yanislav Malahov, founder of Æternity.

Background

The developers say that Æternity’s built-from-scratch Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term provides unprecedented security and decentralization, improving governance, scalability, scripting safety, and access to data.

In contrast with the approach of Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term, Æternity believes that storing all of the application’s code and state on-chain does not work for the internet. It presents a highly scalable blockchain architecture with a consensus mechanism that is used to check the oracle, which is a term used to describe any independent data source that can connect with a blockchain through an API (which they call an ‘ÆPI’) .

They explain that this makes the oracle very efficient, because it avoids layering one consensus mechanism on top of another. State channels are integrated to increase privacy and scalability, while tokens in channels can be transferred using purely functional smart contracts that can access oracle answers. By not storing contract code or state on-chain, Æternity can make smart contracts easier to analyze and faster to process without substantial loss of functionality.