æternity and Erlang Team up to Tackle Blockchain Scalability

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Open-source, distributed computing platform æternity has announced, last week, a partnership with Erlang Solutions, which develops fault-tolerant systems that scale, based on the Erlang and Elixir languages. æternity intends to utilize Erlang to help scale æternity’s distributed system and peer-to-peer (P2P) network, with fault-tolerant systems capable of serving billions of potential users to drive the mainstream adoption of blockchain technology, said the company’s statement.

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According to data from Token Report, æternity is headquartered in Bulgaria and was founded in 2016 by Yanislav Malahov, who claims to be the “Godfather” of Ethereum. With its consensus mechanism, the company raised approximately CHF 29 million in its 2017 campaign, according to its statement. It claims to be able to handle large volumes of products and information in parallel with state channel design for off-chain verification of data and smart contracts, allowing transactions to be independent of each other and increasing transaction speed and scalability with no compromise to privacy.

The partnership between the two companies will also strive to tackle consensus mechanism-related challenges, which have proved problematic for blockchain developers, says aeternity’s statement. Erlang has previously worked with WhatsApp, bet365, and AOL.

“As scalability issues continue to plague modern blockchains, innovative, comprehensible, and truly revolutionary solutions must be pursued if they are ever to achieve widespread adoption,” Malahov said, in the statement. “We are thrilled to be collaborating with Erlang Solutions to strengthen our work towards overcoming these challenges and are eager to bring our ground-breaking technology to billions of users worldwide. Having numerous clients around the globe spanning from startups to Fortune 500 companies, Erlang Solutions has gained invaluable experience and thrives when working on complex cases and providing solutions to distributed systems.”

The launch of the æternity main-net is scheduled for Q2 of 2018.

For more information about æternity visit: https://www.aeternity.com/

For more information about Erlang Solutions visit: https://www.erlang-solutions.com/

About Adriana Hamacher

Managing editor, Blockchain News ★ Cryptoassets advisor ★ Ex-BBC reporter/producer ★ Award-winning writer ★ Robot tamer

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