Learn about Æternity’s Vision for a decentralized future — Yanislav Malahov at Genesis DevCon
Genesis DevCon featured some well-accomplished proponents of blockchain technology, one of whom was Yanislav Malahov, the founder of Æternity — a new blockchain protocol designed to deliver unmatched efficiency, transparent governance and global scalability.
As a Blockchain thought leader and a veteran in the blockchain space ,Yani and Æternity have done much to build and expand the blockchain ecosystem in Europe as well as Asia through partnerships, meet-ups, accelerators and other community building activities.
Æternity’s Outreach in Europe
The Æternity crypto foundation has been a key factor in developing the blockchain ecosystem in Liechtenstein, a German speaking principality near Austria. Liechtenstein’s parliament has Unanimously passed the Blockchain Act, to take effect from 1 Jan 2020, Essentially becoming the first country to have a comprehensive regulation for the token economy.
Æternity Universe One, a conference held in Prague in September 2019, was a common platform for hundreds of Blockchain developers, researchers, designers, entrepreneurs and enthusiasts to explore blockchain, its use cases and its future.
Æternity Ventures , the Investment arm of Æternity, launched their Starfleet programme. The Æternity Starfleet programme is a full fledged accelerator programme for startups and entrepreneurs utilising the Æternity blockchain. The Starfleet programme offers mentorship, go to market partners, and even funding worth 100K USD. The Starfleet programme launched in Sofia Bulgaria and is planned for Malta(Dec 2019) as well as India in 2020.
The Æternity Blockchain
Æternity seeks to build a new, better society that fuels sustainable growth and with unprecedented transparency through all aspects of society. To achieve this goal Æternity has built a next generation, scalable , decentralised and open source blockchain platform for more smart contracts and “æpps”.
Scalability being a common problem in the blockchain domain, Æternity provides a more scalable option through the usage of state channels (a channel off-chain that allows users to communicate and transact privately, thereby reducing the On-chain load), with weighted, delegated and transparent governance all wrapped up in an efficient smart contract language called Sofia.
A smart contract is only as good as the language it is written on and unlike common languages today that were written by enthusiasts and developers, Sofia was written by experienced programming language creators with the objective in mind that the contract execution must be safe, efficient,cheap and have the ability to scale. It is an ML dialect , operates functionally like Ocaml and it’s syntax resembles that of Reason.
FATE or the Fast aeternity Transaction Engine is a superior virtual machine with easier safe coding, faster transactions and smaller code sizes (10x) than traditional bytecode virtual machines on other platforms. FATE was custom built to seamlessly integrate with the functional smart contract language Sofia.
Salient Features of the Æternity Blockchain
Governance
Æternity enables truly democratized governance by implementing delegated and weighted voting. This form of voting not only ensures that the value of the vote Is weighted by the number of tokens owned but also allows delegation of voting rights.
Oracles
Oracles are known as sources of information that can be found on the blockchain. These sources of information may validate their data or let their reputation determine the reliability of their source.
Æternity naming system (AENS)The Æternity naming system offers the assignment of names to point to accounts that can be used to transfer ownership of tokens. This naming system increases usability , utility and simplicity.
Tokenization
Æternity predicts a future where the tokenization of all shared assets and resources is commonplace. Every co-owned object and shared resource will be tokenized and it’s ownership and access tracked by the blockchain. This would ideally make all shared assets more liquid and traceable on global markets. Æternity strives to achieve this degree of tokenization that would lead to a huge upgrade in the efficiency of global society.
