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[ANN] Introduction to the Aeternity blockchain project

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Hello everyone, I would like to present you the aeternity blockchain project.

 

Æternity is a new blockchain - designed for fast and secure smart contracts interfacing with real-world data via a decentralized

oracle. Scalability is achieved by using (trustless) Turing-complete state channels, a major difference to Ethereum. This way the

smart contracts also become easier to analyze and more secure. The interface to real-world data is done via an innovative oracle design, which is based on prediction markets. State channels increase scalability since all transactions become independent and can thus be processed in parallel. Additionally,

this means that contracts never write to shared state, greatly simplifying their testing and verification.

 

Æternity will be powered by the æternity token (AE symbol, also 'æon').

 

Æternity tokens are used as payment for any resources one consumes on the platform, as well as the basis for applications implemented

on the platform.

The distribution of æternity token [AE] in the genesis block will be determined by a smart contract hosted on Ethereum.

 

Æternity tokens will be managed by accounts which will have an address and balance, implemented alongside a alias (naming) system

which will support human-friendly names mapped to an aeternity address.

 

Æternity identities are essentially a triple of (pubkey, hash, name). Pubkey from the account, name from the alias and hash

linking to further data, e.g. on IPFS.

 

Link to the scientific paper: https://blockchain.aeternity.com/æternity-blockchain-whitepaper.pdf
 

CONSENSUS AND GOVERNANCE

• Hybrid Proof-of-Work Proof-of-Stake blockchain
• Consensus achieved by PoW mining
• Algo: 'Cuckoo Cycle' by Tromp:
https://github.com/tromp/cuckoo
• Minable with even with smart phones achieving highest possible decentralization
• Governance via PoS prediction markets
• Prediction markets are proven to very good tools to destill information out of a crowd of people. Better then simple voting!



TRANSACTION SPEED ESTIMATES
Trustless off-chain transaction speed: infinite and only limited by the speed of light as these transactions are inside state channels

•On-chain transaction speed: We define following variables for the following calculations:

B = block size in bytes
F = blocks till finality
R = time till finality in seconds
T = transaction size in bytes

The variables that define the protocol are all constantly being updated by the consensus/governance. From their initial default
values, we can calculate the initial default rate of transactions per second.

Transactions per second = B  F / (T  R)


B = 1000000 bytes = 1 megabyte per block
R / F = 30 seconds per block
R = 243600 seconds per day
F = 2460*2 blocks per day
T = 1000 bytes per transaction

 

1000000 ∗ 24 ∗ 60 ∗ 2/1000/24 ∗ 3600 = 1000000 / 1000 / 30 = about 32 on-chain transactions per second, which would be
fast enough to sign up every human with state channel technology within 8 years.

These variables will be determined by token holders (PoS Governance).

For further details read the æternity blockchain whitepaper:
http://blockchain.aeternity.com/æternity-blockchain-whitepaper.pdf

 

CHANNELS
æternity’s blockchain leverages state channels which makes smart contracts faster, more secure and more private.

  • First, two users open up a state channel via depositing some AE tokens into it.

  • They can agree to arbitrary smart contracts. This allows for transactions to be conducted as fast as information can be
    transmitted and processed by the parties, instead of them having to wait until the transaction has been validated—and potentially
    finalized— by the blockchain’s consensus mechanism.

  • This æternity blockchain is used to settle the final outcome or to resolve conflicts that arise.

It’s decisions are foreseeable, thereby ruling out malicious activity between parties who try to erode the state channels to
which they’ve written and previously agreed to.

The transfer of æon is the only effect channels can have on the blockchain, only those æon that have been deposited into the
state channel can be transferred. This makes all channels independent from each other, which has the immediate benefit that
any transactions related to channels can be processed in parallel, greatly improving transaction throughput.

SMART CONTRACTS
æternity uses a Turing-complete (new) virtual machine with MAST (Merkelized Abstract Syntax Trees) to process smart contracts.
Within æternity, smart contracts are pure functions in the form of financial agreements that distribute funds according to
predetermined rules. MAST enables that, in case a smart contract needs to be enforced by the blockchain, only the relevant part
of the smart contract needs to be published, achieving again higher scalability and confidentiality.

  • Only the involved parties know about the contract

  • Only parties that have an open state channel can create a valid contract

  • Every state change or code update gets signed by both counterparties of the contract

  • It is only submitted to the blockchain if its outcome is disputed, in which case the code is only ever stored as part of
    the submitted transaction, never in any other state.

  • If this happens, the blockchain distributes the tokens according to the contract and closes the channel.

     

IMPLEMENTATION

æternity core blockchain code is written in Erlang, which makes it easy to write distributed,
fault-tolerant, soft real-time, highly available, non-stop applications. Erlang is the perfect language to write a blockchain
from scratch and by using it, we achieve a superior operational stability and performance.

 

WEB AND MOBILE INTEGRATION
æternity is 'mobile first', which is true because of the convergence of mobile and web
technologies and new mining algo which is even efficiently minable on smart phones.
A Javascript library and REST APIs for engaging with the core blockchain will make the integration into existing web/mobile apps
or services easier.
ReactJS will be the framework of choice two write reusable modules in, for the UI. These modules can easily be reused on the web,
as well as on mobile, and even compile down to native apps on mobile, becoming more snappy.

Also an Ethereum and Bitcoin bridge via Cosmos/Polkadot is planned.
 

ROADMAP

  • Q1-Q3 2017 – Start and development

  • Q1 2017 – Testnet and launch

  • Q1-Q2 2017 – Public announcement, backing campaign

  • Q4 2017 – Security audit

  • Q1 2018 – Mainnet launch

 

The testnet is LIVE, give it a try!

 

 

Information about the æternity team:

http://www.aeternity.com/#team

 

We are constantly adding team members, check out our website and blog for the most recent information.

 

 

GET IN TOUCH with us:

 

Bitcointalk thread:

https://bitcointalk.org/index.php?topic=1733140.0

____________________________________________________________________________
Bounty thread:
https://bitcointalk.org/index.php?topic=1819473.0

____________________________________________________________________________

We also can be found on QQ, wechat, IRC and more... Join us now and help build the future together.

 

Regards,

The æternity team.

 

 

 

 

 

 

 

 

Jimmy likes this

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I saw the twitter account posted:

 

"aeternty's Nikola on the stage of Financial Innovation Asia Summit."

 

with a pic included.

 

ydz2atI.png

 

Cool stuff!


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cc4enlO.png

 

yWR49v4.jpg

 

@marionmiaume of Aeternity speaking at ceBIT 17

 

43ojt3y.png

 

Much interest in blockchain tech during Shanghai's high-level FinTech event. Here is a photo of Nikola from aetrnty enjoying the stage.

 

orJxH7u.jpg

 

Nikola was everywhere in Asia during the past week! Here is the flyer from his Japan blockchain conference participation.

 

HiC9AEk.jpg

 

aetrnty presents in Tokyo blockchain conference!

 

slRUw6g.png

 

WK5K9B4.png

ICAFuUR.png

 

Testnet is LIVE, give it a try!


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Posted (edited)

The Aeternity blog post Bitcointalk Blog Campaign is live! Earn some AE tokens with skillful writing and good research.  Details: bit.ly/2na1BEp

 

The Aeternity website now has a new look and some new features, check it out! http://www.aeternity.com

 

QKenII9.png

Edited by John Ogden

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Posted (edited)

From the original blog post here

 

QsvuRDp.png
Development Contributions for Æternity Blockchain

 

 

We are pleased to announce the details on how to contribute to the development of æternity blockchain! In the process of the contribution AE token will be created and distributed to the contributors.

 

In order to achieve highest possible security, transparency and simplicity. æternity uses simple smart contracts (multi-signature escrow contracts) on Ethereum in order to collect the ETH contributions and handle them.

 

 

TRANSPARENCY WINS

 

 

Another goal of this campaign is to get the global community involved as soon as possible, to foster growth of the æternity ecosystem. We want to be as decentralized as possible and don’t want to exclude anybody who believes in the technological proposition of æternity blockchain and wants to support the development. We believe that this is essential for long-term growth.

 

As a result the contribution campaign will be split into two phases.

 

 

Phase 1 — Public “friends, family and real innovator” round

 

Starting on April 3rd, 13:05 GMT and lasting for 3 days [72 hours] until April 6th, 13:05 GMT. During this period, 1 ETH contribution will receive 1000 AE tokens. Anyone can participate!

 

Launch bonus for phase 1: 100 (hundred) AE bonus per 1 ETH send in the first 24h!

 

Phase 2 — Public “early adopter” round

 

Target date: 45 days after first round.

Duration: 3 weeks

 

Week 1: 1 ETH contribution receives 750 AE token.
Week 2: 1 ETH contribution receives 700 AE token.
Week 3: 1 ETH contribution receives 650 AE token.

 

Launch bonus for phase two: 50 (fifty) AE bonus per 1 ETH sent in the first 24h!

 

 

Direct contributions are possible with ETH. For contributions with BTC or fiat, please get in touch with our partner Bitcoin Suisse. For contributions via other cryptocurrencies we suggest to use ShapeShift to fund the æternity contribution wallet.

 

All contributions happen in a publicly transparent and tamper-proof way (‘public receipt’) on the Ethereum blockchain. After the contribution campaign, the AE token will be created based on the public receipts. 82% of the initial æternity AE tokens will be distributed to the contributors. 1% will be allocated to people who hold BTC or ETH, accessible when the æternity blockchain launches. Time-locked via a multi-sig escrow contract, 17% will get allocated to Aeternity Anstalt, the foundation and the founding team.

 

As for security, please, do NOT send from an exchange account to the æternity contribution account! Use the æternity wallet, which is optimized to make the contribution process as easy as possible. Alternatively, you can use your ETH wallet, just make sure that you are the only one who has access to your private key. The escrow services will be announced shortly.

 

 

 

Æternity meets Ledger Nano S

 

ls3ZxU9.png

 

 

The first 1000 contributors above 12 ETH will receive 1 limited edition æternity branded Ledger Nano S wallet. Shipping costs might be additional. Note, that this perk is limited to one wallet per contributor and one per physical address.

 

 

SIMPLICITY IS KEY
HOW TO CONTRIBUTE?

 

 

1. Starting on April 3rd and ending on April 6th, go to aeternity.com and press the contribute button on the first page.
2. Fund the wallet with Ether (ETH) (or view alternatives for contributions with other currencies, such as bitcoin or fiat).
3. Accept the Terms and Conditions.
4. Contribute! And view your AE contribution on the Ethereum blockchain. If you like: Write a 160 character message, which will be embedded into the Æternity genesis block and last forever.

 

 

IN MORE DETAIL
FIRST CONTRIBUTION PHASE — THE BEGINNING
FOR FRIENDS OF ÆTERNITY AND REAL INNOVATORS

 

 

- Start date: [Monday, 3rd of April 2017]
- Start time: [13:05 GMT]
- Duration: 3 days, exact 72h, by blocktime.
- All will be recorded on the ETH blockchain by a multisig-escrow-contract.
- Ratio: 1 ETH contribution yields 1,000 (thousand) AE contribution receipts
- A special æternity wallet will be launched.
- After these 3 days, the first phase of contribution acceptance is over.
- All following transactions will be 10% donated to non-blockchain open-source projects and 90% sent back to the sender, per transaction. No receipts are given for transactions which are included in a block before or after the official start and end.

 

 

INCUBATION PHASE

 

 

- There will be a maximum of 90 days in between phase 1 and phase 2.
- Much will happen during this time. E.g. hackathons, meetups and at least one conference will be organized, bringing together the community in every continent of the world to hack on æternity. The best teams and projects will be supported by the Æternity Open Source Foundation, which is in formation process.

 

 

SECOND CONTRIBUTION PHASE — EVOLUTION
FOR VERY EARLY ADOPTER

 

 

•Start time: will be announced, latest in 90 days after the conclusion of phase 1
•Duration: will be announced.
•Ratio: 1 ETH contribution yields 800 (eight hundred) AE contribution receipts (or less)
•Additional perks for the first contributors: will be announced.
•All will be recorded on the ETH blockchain by a multisig-escrow-contract (like in phase 1)

 

 

CONTRIBUTION SECURITY CHECK
The migration to transferable AE token smart contract.

 

 

- After both contribution campaigns end, an AE token smart contract will be created on Ethereum, which will mirror the contributions in a verifiable way. Mirror, as in copy the contributions and AE token ownership over to the new blockchain. Open-source tools to check and verify the contribution transfers will be provided.
- After successful migration, the launch of the transferable AE token will take place and become official. One single smart contract will keep track of the AE contributions on Ethereum until æternity mainnet launches.

 

 

CONTRIBUTION DISRUPTION — THE BIRTH OF THE AE TOKEN

 

 

- After phase 1 and 2 have concluded and after the successful security audit, the AE tokens become freely usable (transferable), not only good for beta-testing æternity UX with AE token.
- Shipment of the æternity ledger wallets will commence at this time.

 

 

FURTHER TOKEN OUTLOOK
DEVELOPMENT PHASE & LAUNCH OF THE ÆXPERIMENTS with AE tokens on æpp space.

 

 

The AE token on Ethereum will be used to power experimental aepps, which will give visual insights into how the æternity ecosystem will work and play together. JS-libraries and other tools will be build.

 

 

MAIN BLOCKCHAIN LAUNCH: TOKEN METAMORPHOSIS & BIRTH OF A NEW ECOSYSTEM

 

 

- Migration of AE tokens to the Æternity blockchain occurs.
- Launch of aepps.com essentials and platform
- Predict!
- Mine!
- Use!
- ∞

 

GZBbbRg.png

 

For more information about æternity blockchain, have a look at aeternity.com

Edited by John Ogden
Jimmy likes this

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Updated the original post with some changes to how phase I and II will work, please check it out. You can read the full blog post here:

 

https://blog.aeternity.com/security-transparency-simplicity-1411fad10974

 

 

Phase I is only 3 days long, sign up now on the website & don't miss it:

zsZ5p7G.png

 

Check out the new-look website: http://www.aeternity.com/
Chat right on the websitehttps://gitter.im/aeternity/Lobby
You can join the slack: https://slack.aeternity.com/
You can join telegram: https://telegram.me/aeternity

 

You can also join QQ, IRC, wechat and more. Check it out! Come join the aeternity discussion:

 

DGyU5uP.png


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Posted (edited)

2 days 12 hrs~ remain until Aeternity phase I crowd-sale is live!

 

Phase one of the crowd-sale lasts just 3 days & there is a bonus for phase one: 100 (hundred) extra AE per 1 ETH sent in the first 24h!

 

The first 1000 contributors above 12 ETH will receive 1 limited edition æternity branded Ledger Nano S hardware wallet. Shipping costs will need to be covered by the contributor. Note that this perk is limited to one wallet per contributor and one per physical (delivery) address.

 

 

Keep an eye on the website and make sure you don't miss it!

 

ABVF1Tb.png

 

http://www.aeternity.com/

 

Below is video of Yanislav at the Blockchain UA Conference:

 

x1YTwzT.png

 

 

 

Edited by John Ogden

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Below is all data from the blog post that is relevant to Phase I

 

FJFRGuz.png

 

FIRST CONTRIBUTION PHASE — THE BEGINNING

 

FOR FRIENDS OF ÆTERNITY AND REAL INNOVATORS

 

* Start date: Monday, April 3rd, 2017.
* Start time: 13:05 GMT.
* Duration: 3 days, exact 72h, by blocktime.
* All will be recorded on the ETH blockchain by a multisig-escrow-contract.
* Ratio: 1 ETH contribution yields 1,000 (one thousand) AE contribution receipts.
* A special æternity wallet will be launched.
* After these 3 days, the first phase of contribution acceptance is over.
* All following transactions will be send back to the sender. No receipts are given for transactions which are included in a block before or after the official start and end.

Launch bonus for phase one: 100 (hundred) AE bonus per 1 ETH sent in the first 24h!

 

For security, please, do NOT send from an exchange account to the æternity contribution account! Use the æternity wallet, which is optimized to make the contribution process as easy as possible. Alternatively, you can use your ETH wallet, just make sure that you are the only one who has access to your private key.

 

Make sure you know (or can easily find out) the private key of the wallet you are sending your contribution from.

 

Æternity meets Ledger Nano S

 

ls3ZxU9.png

 

The first 1000 contributors above 12 ETH will receive 1 limited edition æternity branded Ledger Nano S wallet. Shipping costs might be additional. Note, that this perk is limited to one wallet per contributor and one per physical address.

 

13~ hours until Phase I Aeternity contribution campaign begins

 

Click on the banner below to get the current timer countdown

 

kPE6MC8.png

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Posted (edited)

The Aeternity Crowdsale is officially LIVE!

 

IAK4pZU.png

 

Below is all information  relevant to Phase I

 

How to Send Ether to æternity’s Contribution Campaign Wallet
FUeQBi9.png

 

 

 

How to Send Bitcoin to æternity’s Contribution Campaign Wallet
LBG0aOF.png

 

 

FIRST CONTRIBUTION PHASE — THE BEGINNING

 

FOR FRIENDS OF ÆTERNITY AND REAL INNOVATORS

 

* Start date: Monday, April 3rd, 2017.
* Start time: 13:05 GMT.
* Duration: 3 days, exact 72h, by blocktime.
* All will be recorded on the ETH blockchain by a multisig-escrow-contract.
* Ratio: 1 ETH contribution yields 1,000 (one thousand) AE contribution receipts.
* A special æternity wallet will be launched.
* After these 3 days, the first phase of contribution acceptance is over.
* All following transactions will be send back to the sender. No receipts are given for transactions which are included in a block before or after the official start and end.

 

Launch bonus for phase one: 100 (hundred) AE bonus per 1 ETH sent in the first 24h!

 

For security, please, do NOT send from an exchange account to the æternity contribution account! Use the æternity wallet, which is optimized to make the contribution process as easy as possible. Alternatively, you can use your ETH wallet, just make sure that you are the only one who has access to your private key.

 

Make sure you know (or can easily find out) the private key of the wallet you are sending your contribution from.

 

Æternity meets Ledger Nano S

 

ls3ZxU9.png

 

The first 1000 contributors above 12 ETH will receive 1 limited edition æternity branded Ledger Nano S wallet. Shipping costs might be additional. Note, that this perk is limited to one wallet per contributor and one per physical address.

 

Edited by John Ogden

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The Aeternity crowdsale has raised over $5.2 million USD in the first 27.5 hours. Under 2 days to go, still 172 Ledger Nano S up for grabs.

 

ydA5YAK.png

 

Take part here: https://wallet.aeternity.com/

 

Have questions, or need help? You can pop into the following chat mediums to speak to the team:

 

https://gitter.im/aeternity/Lobby
https://telegram.me/aeternity
https://slack.aeternity.com/


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The Aeternity crowd-sale has so far raised over $5.7 million USD. There are just under 22 hrs leftin the sale, and 64 Aeternity branded Ledger Nano S still up for grabs!

 

ljh3dF4.png

 

Go here to join in: https://wallet.aeternity.com/

 

Have questions, or need help? You can pop into the following chat mediums to speak to the team:

 

https://gitter.im/aeternity/Lobby
https://telegram.me/aeternity
https://slack.aeternity.com/


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From the original post here: https://blog.aeternity.com/æternitys-meetup-bounty-campaign-bb348067e5a4

 

BMsdEAC.png

 

æternity’s Meetup Bounty Campaign!

 

Spread the word about æternity and plant the æ seed all over the globe.

 

It’s pretty simple actually
We are thrilled that there are already people from the international æternity community planning to set up events in their localities. We decided that such aspirations must be encouraged with AE tokens. If you are up for the task, æternity will reward your efforts with 3000 AE tokens.

 

The conditions
Send an e-mail to hello@aeternity.com, including:
1. Your name
2. Social media account for verification and communication (Facebook or LinkedIn preferable)
3. City in which you will organize the meetup
4. Meetup location suggestions (can be a bar, restaurant, university,…)
5. Meetup.com page (including topics to be discussed)
6. Date and time of meetup
7. A link to a public Facebook post or tweet with your Meetup event

 

This information will be added to a public Google Spreadsheet. You can use that document to check if your application was accepted.

 

   

 

There can only be only one meetup per city!

    Photos of the meetup, must be provided no more than one week after it took place.

    Videos are welcome, but not mandatory.

 

Feel free to provide us with ideas that can make your event extra special! The AE tokens will be distributed to the organizers after the end of Phase Two.

 

æternity will provide free beers at every meetup (receipt required)

And the final condition: HAVE FUN!

 

SrctJIH.png


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