Aeternity introduces innovative smart contracts interfacing with real world data
Æternity is a new scalable blockchain platform designed for fast and secure smart contracts interfacing with real-world data via a decentralized oracle, secured through a hybrid of proof-of-stake and proof-of-work mechanism. While many are trying to implement applications with real world data on top of a blockchain, the Æternity developers believe that storing the application’s state and code on-chain is not the best strategy, thus they designed a different blockchain architecture, which is well detailed in the Æternity Blockchain White Paper . We present a highly scalable blockchain architecture with a consensus mechanism which is also used to check the oracle. 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. Tokens in channels can be transferred using purely functional smart contracts that can access or...