The core advantage of E lies in its underlying Aeternity blockchain. The core strength of Aeternity is its technological leadership. This leadership is reflected in the strength of the technical team and in the thinking of innovative system design.
1.1 Cuckoo Cycle
AE uses the proven consensus agreement for POW. And in the specific implementation, the algorithm of cuckoo cycle is selected. The biggest feature of this algorithm is that it is as fair as possible in the current POW mining project where the professional mining machine is rampant. This algorithm has certain anti-ASIC properties. Although it can theoretically produce ASIC mining machines, there is no evidence that there are special mining machines.
Unlike Bitcoin’s 10-minute confirmation time, AE’s transaction can be confirmed on the whole network by an average of 1.5 seconds. This is mainly because AE uses the bitcoin-NG algorithm and adds the concept of “micro-blocking”. This agreement was studied in depth by Cornell University scholars and published related papers.
- Bitcoin (BTC): The average block time is 10 minutes, and each block broadcasts the transaction, which is an average of 10 minutes.
- Aeternity (AE): The average block time is 3 minutes, but the miners who made the last round can continue to broadcast the micro-blocks, and the micro-block broadcast transactions are performed every 3 seconds until the next main block.
2. Forward-looking functional design
At the technical level, AE has made many improvements to the shortcomings of Ethereum. Its smart contracts, state channels, and implementation of oracle function are unique innovations in the industry.
2.1 smart contract
Smart contracts are now standard on the public chain, which is not to be said. However, AE has redesigned the smart contract, and its Sophia language has greatly reduced the probability of developers making mistakes.
2.2 state channel
The role of the state channel is to support large-scale high-concurrency transactions under the blockchain, thereby reducing the performance requirements of the blockchain itself. This is a chain expansion scheme.
The unique thing about AE is that the state channel is the type of transaction that is natively supported by the bottom of the blockchain. This makes it possible to implement many things that are difficult to implement on other platforms with the AE state channel, and is more efficient. For example, a smart contract can be run in the status channel.
The role of the oracle is to move data outside the blockchain onto the blockchain so that it can be included in the calculation by smart contracts.
Similarly, AE also natively integrates the oracle function at the bottom of the blockchain. This is different from Ethereum in that the oracle is a system outside the Ethereum, and the smart contract on the AE chain can directly use the data of the oracle.
3. Erlang and the team
Most blockchain projects do not have a specific programming language. AE deliberately chose Erlang for development. Erlang has a natural advantage in distributed systems.
At the same time, there are Erlang programming tycoons in the AE team. It also includes the inventor of the Erlang language. The team’s technical strength can not be underestimated. For details, please refer to the official website team.