The project develops a next-generation platform for smart contracts which features off-chain solutions for their operation known as state channels, and an oracle machine integrated in the Blockchain to use the same consensus mechanism.
The Aeternity team believes that those solutions would efficiently tackle the problem of smart contracts scalability ensuring their Turing completeness, privacy and agility at the same time.
The developers also intend to deploy prediction market governance, meaning that token holders will make bets to determine the project’s future development instead of just voting. Thanks to the oracle machine, it will make the entire platform respond and gauge to market expectations automatically.
Aeternity has already held Phase One of the contribution campaign, which attracted nearly $5.2 million in Ethereum and Bitcoin from over 2,000 contributors from around the globe.
“We have been very busy between the two phases, arranging new partnerships, on-boarding developers and expanding the æternity team and community globally,” Aeternity founder Yanislav Malahov said.
Phase Two of the contribution campaign will kick off on May 29th, 2017 at 13:05 GMT and will last for three weeks. The contributions cap is set at 21 million Swiss Francs (around $21.6 million). The campaign will stop 2 hours after the intended cap has been reached.
The tokens will be distributed accordingly with the following schedule:
- Week 1: 1 ETH = 750 AE tokens + BONUS of 50 AE token (for the first 24 hours)
- Week 2: 1 ETH = 700 AE tokens.
- Week 3: 1 ETH = 650 AE tokens.
“We will continue to work hard in order to realize the æternity vision during and after Phase Two,” Mr. Malahov added.
In order to participate, campaign participants should make their contribution in Bitcoin or Ether. The team, however, provided an option for those who concede making a fiat contribution. For that purpose, the team says, they should contact the platform’s partner Bitcoin Suisse. Due to regulatory uncertainties and the complexity of U.S. financial regulation, U.S. citizens will not be able to make their contributions.
The main net is expected to be deployed approximately in 2018 Q1 after a thorough test run and security audit.
- Smartlands to Digitise Own Equity; Unveils Plans For Security Token Offering in the US - December 9, 2019
- ShareRing Partners with Thailand’s new E-Visa System: Mainstream Blockchain Adoption - December 9, 2019
- ELEV8CON adds BBVA, Bumble Bee Foods, State Street, Ticketmaster to Lineup for Enterprise Blockchain and Digital Asset Conference - December 9, 2019
- Mintdice – Playing it Fair with Blockchain - December 9, 2019
- Juventus Become The First Football Club In The World To Be Tokenized - December 3, 2019
- London’s Travala.com Teams Up With Amsterdam’s Booking.com In Massive Crypto Travel Deal - November 28, 2019
- High-Powered Group of Legal Experts Determine Cryptoassets and Smart Contracts Legal Under UK Law - November 21, 2019
- Hyperledger Adds Eight New Members – Rolls out Updates - November 21, 2019
- Failed ICO, Token Sale Project SNIPs Acquired by Sonos for $37.5 Million - November 21, 2019
- Algorand Launches Protocol Upgrade, Setting the Stage for the Next Wave of Distributed App Development - November 21, 2019
- ArcBlock Partners with Ride-Sharing Service GoFun to Develop Services and DApps on Blockchain - November 20, 2019
- Hacktivist Phineas Fisher Cracks Cayman National Bank and Trust – Offers $100,000 Bitcoin/Monero Bounty To Other to Hack Banks, Big Companies - November 20, 2019
- Graph Blockchain to Acquire Shroom Street – Cracking Psychedelics Market - November 20, 2019
- OpEd: Burned By Bitwala – Visa Card Money Gone When Wavecrest Wound Down - November 19, 2019
- Chinese Military Eyes Blockchain Technology for Rewards Programme – Boosting Training and Gamifying System - November 18, 2019
- FinCEN Boss: American Regulators to Strictly Enforce AML in Crypto Industry - November 18, 2019
- Visa’s Rolls Out New Blockchain LucidiTEE – Tackles Concerns related to misuse of sensitive user data, when shared with third-parties. - November 18, 2019
- Utrust Joins Forces with Alternative Airlines for Flight Bookings with Crypto - November 13, 2019
- Dark Web Drug Dealer Pleads Guilty To Using Cryptocurrency to Launder More Than $19 Million - November 13, 2019
- Dutch Police Bust CEO of Blockchain Game Firm, Komodore64 – €78 million Gone? - November 13, 2019