AE
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1. Project introduction
Aeternity is an open source blockchain platform aiming to be a development platform for advanced blockchain applications that can be used by millions of users. Several key technologies are put in place to meet these scaling requirements, most notably state channels, the next generation of Nakamoto consensus algorithm and the very efficient FATE virtual machine for smart contract execution.
Aeternity runs as a decentralized trustless distributed ledger using Proofof-Work (PoW) for leader election. The æternity blockchain offers a variety of different transaction types based on commonly used applications on other blockchain implementations. For example, by identifying that many blockchains have a need to give human readable, persistent names to objects on chain, the æternity blockchain provides a set of transactions that make this easy for developers, without the need to implement a smart contract for it. Another example is a set of transactions to register and query oracles, which provide data from outside the blockchain.
The AE coin is the native currency of the Aeternity blockchain. The most basic transaction is the spend transaction used to transfer AE coins from sender to receiver. The receiver can either be an account, oracle or smart contract. In addition to coin transfers and smart contract calls, a sender can also attach an arbitrary binary payload, which can for example be used for proof of existence, registering a hash or file on the blockchain.
2. Application
The AE coin is the native currency of the Aeternity blockchain. The most basic transaction is the spend transaction used to transfer AE coins from sender to receiver. The receiver can either be an account, oracle or smart contract. In addition to coin transfers and smart contract calls, a sender can also attach an arbitrary binary payload, which can for example be used for proof of existence, registering a hash or file on the blockchain.
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