æternity

Introducing æternity (AE)

Introducing æternity (AE)

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Introducing æternity (AE)

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æternity’s blockchain focuses on increasing scalability of smart contracts and DApps by moving smart contracts off-chain in private state channels between parties. More notably, the blockchain is supported by a decentralized oracle machine connecting data from outside sources for usage in the smart contract. In addition to usage of prediction markets for various voting and verification purposes, these main features are where æternity (AE) stands out from other blockchain platforms. 

 

So how does it work?

State Channels: 

Known as their State Channel solution (communication between parties in a smart contract) AE allows the communication off chain and only connects to the blockchain for actions of adjudication or transfer of value.

  

This is effective compared to other chains for two main reasons. Firstly, they don’t need to pay the network every time these parties compute. In addition to better privacy, the two parties in the contract only need to see the contract’s information. This brings higher scalability and privacy to the network users. 

 

Oracle Machine 

 

AE’s Oracle machine really has them standout and here is why. An oracle provides outside data to the blockchain, more specifically to the smart contracts. By having the oracle move data to AE’s blockchain, the data set becomes unchangeable and immutable within the contract. The oracle in fact collects centralized data and moves it to a decentralized system.  

 

For example: 

 

Lets say a freelance DApp using AE’s blockchain allows parties to hire content writers. The smart contract is programmed to read the oracles data to approve or disapprove a payment. The smart contract has rules for doing the job, such as, the article needs to be 800 words, uses 10 keywords for SEO purposes, and includes an image. The oracle can check if these rules were met after the article is produced and then tell the smart contract to make the payment. 

Now for your task: 

 

  • What’s your first impressions of AE?

  • After seeing one example, come up with a use case idea where an oracle can be used with AE smart contracts. This will allow AE to utilize these ideas as they work closely with their Aepps (AE’s Dapps). 

  • Top 5 voted use cases will receive a Ledger Nano S with æeternity branding from æternity blockchain.

 

Please make sure to create your AE wallet (browser-based wallet) or download using iOS or Android and place your AE public key, CH username and address (for potentially being top 5) in the Survey. We then will send out the tokens every two weeks for all the participants. In the future, we plan to integrate AE blockchain, so stay tuned! 

 

We look forward to your feedback! 





54 COMMENTS 227 VOTES

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Communication and contracting between parties is made easier and without paying another network. The additional privacy assurances provide a greater degree of commercial comfort.  AE's oracle machine creates confidence and trust that the data won’t be changed within the contract.

AE has great potential and it would be worthwhile commercially if it could be utilized alongside legal contracts where certain conditions need to be met before a contract is finalized.  If a condition is not met by a required deadline, the contract is automatically cancelled by the AE protocol. 

1 year ago

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1 year ago

I apologise if I already did this but I don't see my post.  I have a positive impression of ae because it is or was a top 100 eth coin and can be connected to external data.

I could see how it can be used with wind speed data to create insurance contracts.  The contacts would only pay out when the wind speed reaches a certain number.

Ae receive address 

ak_2v2Rd3zNTkdQjedXKPoF2zLyUeJB1A7yjyNGcVMjqQkxkDfELM

Ch name Eric Dexter (I am not really after the nano)

1 year ago

Karen M guru

Reading what you wrote about wind speed, made me think - could it also work with solar power?

1 year ago

Tim Prior guru

Crypto / Blockchain enthusiast and investor.

Back for a second suggestion.  :)

Wondering if this could be used to combat plagiarism on a site like CH.  If all comments were recorded on the blockchain, the oracle could cross reference,to see if it is original content.  Possibly even running each comment through a theasurus to check for likely spun comments..  If it's close to 100% origial it posts it.  If it's likely a copy-paste job, it refuses it.  

 

1 year ago

Karen M guru

That would be great!! Is it really possible?

1 year ago

Tim Prior guru

Crypto / Blockchain enthusiast and investor.

I'd say it's possible. Though I'd personally have no idea how to actually make it. :D

1 year ago

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Karen M guru

Well they say, if one can think it, one can create it! Maybe someone with the know-how will see your idea & do it

1 year ago

Tim Prior guru

Crypto / Blockchain enthusiast and investor.

Hope so. If they were looking to create solutions to real problems with their tech, we know there's a need for it.

Probably more in line with what they were looking for than my dead-mans-switch wallet idea anyways. :D

1 year ago

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Wondering if there's already a plagiarism checker with an API? That's such a great idea for the future of crowdholding, and potentially other web platforms (steem, Publish0x, coin.co). If it doesn't exist, it should. Could probably be profitable as a standalone business, too.

1 year ago

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1 year ago

  • What're your first impressions of AE?

Well, it is an easy question to ask as AE seems to be a well-developed program and after I visited your site and I literary said "wow". I would say that this will be an advanced and better version of ethrum blockchain. There are many projects nowadays open with ERC20 contract but there is no insurance that the project will run or end up as a scam project, so it will be a good place for all the new project that develops in blockchain to collaborating with AE. Incubator Foundation will be to promote new ideas and project, which is appreciated.

When i visited your site, It was pleasing to watch a blockchain site that didn't just focus on a specific field but trying to solve many real-world issues through the blockchain system. The most I liked is the "CrowdFunding Project" If implemented in a better way then every project in blockchain will be worth to invest and investor will have the insurance that they will need be scammed which, in the past, happened from time to time so more trust will be developed in the community and will bring more investor.

  • After seeing one example, come up with a use case idea where an oracle can be used with AE smart contracts. This will allow AE to utilize these ideas as they work closely with their Aepps (AE’s Dapps). 

The idea of smart contracts, which is really good, should not be respected and try to implement in every field but we have to start we brick by the brick system. As we know that the centralized banking system is in the market from decades, so we can not ignore them nor we can remove them from the system, so it is better to start working with them by implementing your smart contract on there centralized system and at then integrate the on the blockchain, so locally they will be centralized but at a bigger picture they will see a fast transaction with smart contract and at low price they can transact over blockchain at large scale. The banking system is in the market from decades and people trust them and they are earning big at the same time so they will not give up so easily to new technology so it is better to shake hand with them as it will benefit everyone.

We can implement the smart contract in real estate as there are many real estate companies out there. Establishing a smart contract and then integrate it with blockchain.

1 year ago

John Rabbot senior

Browser wallet is not working?

1 year ago

Ethan Clime guru

CEO of Crowdholding.com

If you're having trouble with their wallet, you can always try contacting AE via telegram.

1 year ago

John Rabbot senior

I do not see any wallet there. There's just written that it will be implemented "soon".

1 year ago

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Tim Prior guru

Crypto / Blockchain enthusiast and investor.

I had the same issue. Which is why I commented, but haven't yet completed the survey. I see three aepps: voting, explorer, and migration, but no wallet. Guess I'll check in their Telegram in a bit(?)...

1 year ago

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Ethan Clime guru

CEO of Crowdholding.com

@john rabbot, you need to follow the instructions from the task. At then end of the task it says the following:

Please make sure to create your AE wallet (browser-based wallet) or download using iOS or Android and place your AE public key, CH username and address (for potentially being top 5) in the Survey. We then will send out the tokens every two weeks for all the participants. In the future, we plan to integrate AE blockchain, so stay tuned!

Keywords have links (AE wallet) and (IOS & Android) to get your wallet. Then place it in the (Survey).

1 year ago

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æternity to me is like Ethereum, but on steroids! I see æternity as a blockchain 3.0 platform most importantly as it integrates state channels and oracles into their protocol layer. Furthermore, æternity is engaging in a vast array of initiatives, such as their Starfleet program, community campaigns, æmbassador programs, educational materials, open forum discussions, and now with Crowdholding, all of which is crucial in reaching out to all the corners for adoption by the masses.

I work in the academic research community amongst many scientific researchers and there has always been an unsolved problem since the beginning: everyone wants data for their research but no one is willing to share their data, let alone spend the time and effort sanitizing their data properly so that it is usable for public consumption. Therefore, I have come up with a very unique use case that will solve this very challenge. Every research study can run oracles as the gatekeepers for their data. Through the use of smart contracts as well, the data can be shared in a standard format that is accepted to be widely consumed by all the other scientific researchers in the community. Every time any scientific researcher is looking for data, they can query the respective oracles in the network to request and retrieve their needed data. Additionally by using oracles, these large data sets would not be required to be stored on the blockchain itself, rather only the metadata essential for the data set would be recorded. The data can be verified through the respective metadata hashes in order to prove that the data has been unaltered. Smart contracts can also be written to provide an immutable feedback system in order to gauge the quality of the data sets. This entire architecture can provide an incentive for research studies to promote and publish their data to the public as they can receive fees in return, and scientists can in turn conduct their research on high-quality data provided by other scientists around the globe.

1 year ago

Karen M guru

It's important for scientists to share their data. Credit should.be given where credit is due. Imagine the progress that could be made.

1 year ago

Great tidbit of info around the research world. I am curious to learn more about your idea around blockchain for research data transactions. That to me seems like one of the best use cases for the technology, blockchain combined with big data. Do you have examples of anyone doing similar projects?

1 year ago

Very happy to hear that AE actually interacts with the Oracle database and it is worth to invest. I think that AE can be a sufficient alternative because the current cryptocurrencies have several problems (excessive remittance fees, late remittance, etc.). In my opinion, there are many cases where Oracle can be used with AE smart contracts: prediction of Climate change, market changes and quality improvement of education.
I downloaded the Android AE app and created a wallet as below.

ak_WXiecpMo2dzEqMdzKMCvzAhSja5DJozDWnFK4SN8QEdXi8VBH

1 year ago

A perfect use case for aeternaty would be for schools, being able to do basic checks to see if students had meet the minimum word count, that they hadn't copied each other, that key words were present showing that they have read the book the essay was on. Teachers would be able to do half of their marking with a click of a button giving them more free time

1 year ago

Karen M guru

Anything that helps teachers would be great! They are overworked.

1 year ago

Tim Prior guru

Crypto / Blockchain enthusiast and investor.

æternity sounds like an ambitious project with a lot of potential.  I wasn't familiar before, but it's good to learn about it.

And welcome to Crowdholding. :)

A use case I'd like to see, as touched upon by Thomas below, would be a "proof-of-life" type crypto wallet - to deal with crypto inheritance (which is something I've not yet seen tackled successfully).

You could within the wallet-aepp set another wallet address (that of a loved one perhaps) to whom, in the event of the oracle failing to determine evidence of life, within self-set parameters, transfers the assets.  Like a dead-mans' switch. 

The oracle could search for signs of activiity across the æternity ecosystem of dapps, and perhaps beyond (not sure what's tecnically possible), perhaps the phone/computer the wallet is installed on itself.  Or as IOT progresses all of a persons connected gadgets and gizmos.  Searching for signs of activity.  And when it finds any it resets the counter (say 12 months default).  

Possibly combined with a micro-blogging twitter-esque platform that could feed the wallet with proof-of-life at a basic level, being in and of itself proof-of-life.  Or "proof of having existed", should the "tweets" be recorded to the blockchain also.  

Not sure this is the kind of idea you're looking for, but the crypto inheritance issue has long been a topic of discussion. Could be a killer dapp/aepp for whomever solves the problem first...:)

1 year ago

Ejay Dario guru

I'm more experience and know the circulation in this Blockchain Industry.

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1 year ago

In mm opinion, Aeternity is a great idea. The mama challenge is to make sure that the oracle works as intended. To secure the authenticity of the data, either the nodes have to reach consensus on a dedicated protocol, or the data should conform to a structure specific to the application. 

1 year ago

I like this project a lot since it helps to solve a very serious issues that we face a lot when making purchases or when carrying out transactions that deals with value which is elimination of the middle man, I would like this to be integrated also in advertising so that it can help and pay advertisers when an ad was properly viewed. It will also be of great help to companies that uses a lot of automatic payment systems like online stores and such and since it gathers data and store it will also help to gather data about users, for example it can be used by an online store to keep track of a user spending patterns and provide with very relevant ads and it can also be use in the same way in the advertising company.

I will very much be interested in this because it has a real physical presence in my country, looking forward to seeing more from here.

1 year ago

Randy Tice guru

Staunch believer in the power of the crowd and blockchain.

Very interesting! I am curious to see some actual numbers that have been tested as far as transactions per second go.  Also, is the example you gave us only theoretical? Or has there been real world execution of such a contract and what were the results?  I know you asked for our initial impressions, so I guess my initial impression is that it brings up a lot of questions as to what this will look like in real life.

 

As an educator, I would very much like to see Aeternity's oracle used in the public education system.  Currently, school logistics are maintained through programs offered through private companies (Canvas, Schoology, Google Classroom, etc.).  As such, they take up an enormous percentage of the operating budget, money that would be more useful if allocated to other areas of education.  It isn't gross mismanagement of funds, there just literally isn't any other option.  By bringing decentralized solutions into this, it can vastly change the way our schools operate to become more efficient and individualized.

For example, a trend in schools nowadays is to allocate more funding towards core classes (math, science, english, etc.) and sports.  This means that options for students are becoming less and education less individualized.  By offering content through a dapp or a series of smart contracts, this can essentially make a wide variety of curriculum available without the need for costly oversight.

Another example of using the oracle in public education is in the everyday running of schools.  From class attendance, to assignment submission, this can all be done through the use of smart contract without the need for expensive programs the tax payer is essentially paying for.

 

Important Notes: I am an educator in the US so what I mentioned may not apply to other countries (although I suspect similarities can be found).  Also, bringing blockchain, DAOs, Dapps, smart contracts and decentralization into the public education system is truly revolutionary.  As in, there is literally nobody doing it now.  It would be true journey into the unkown.

1 year ago

Karen M guru

Our school taxes just keep going up so if this will help change that, I'm all for it!

1 year ago

Emmanuel Joseph

Software Developer | Aeternity Developer | Community Builder

My first impression of AE was amazing when I attended an aeternity meetup organized by Barineka Maagbo at Lagos, Nigeria for the very first time. After being introduced to aeternity technologies in this meetup, I fell in love with aeternity blockchain technologies and decided to start getting my hands dirty as it was going to be the first time I will work on blockchain technologies. 

Then I came across the Aeternity Development 101 course on https://dacade.org. I dug deep on the course and disturb the founder Moritz Stellmacher whenever I come across a challenge and he was awesomely there for me. I finally developed my first payment daepp using Smart Contract and was happy about the platform because I didn't just finish the course, I was also paid $100 dollar in AE and as a matter of fact, according to Moritz Stellmacher "You are the first one who won the 100$ in Ae token :)".

My First daepp was a decentralized payment system for my school (Ekiti State Univerity, Ado-Ekiti, Ekiti State, Nigeria). It was a mimick of my school official portal (https://eksueportal.eksu.edu.ng) but modified its payment structure by implementing Aeternity Smart Contract. This project solves the problem the students of Ekiti State University Student face at banks when going to pay for their fees by eliminating the middle man (The Banks) and making the whole payment system decentralized. The code of this project can be found on GitHub using https://github.com/emmanuelJet/Aeternity-Development-101. If you wish to see the whole system kindly visit https://emmanueljet.github.io/Aeternity-Development-101/ while the decentralized payment system can be found using https://emmanueljet.github.io/Aeternity-Development-101/site/paym...>

As for me, a use case idea where an oracle can be used with AE smart contracts is in the educational aspect. Let imagine a situation where student pay their fees using smart contract, take their exams or tests in a decentralized manner because an oracle gets centralized data and moves it to a decentralized system then check if the answers were correct or wrong and then tell the smart contract to give the final result of the exam or test. This will make learning easy and decentralized. It could also be used to set quiz questions and other awesome ways of implementing oracle and smart contracts in the educational aspect to make learning more decentralized and amazing. 

1 year ago

This is a brilliant solution especially the fact that it solves a real life problem that students fave every year. Great Job

1 year ago

This is a really smart idea/project, I am one of those that face the stress of queuing to pay. It'll be really awesome if the payment was decentralized (it's a real problem this daepp solves)

1 year ago

De Gem guru

Cryptocurrency enthusiast, avid reader, rapper and SDG advocate.

Wonderful, Emma. I think your dApp is going to be big in the near future. Well done for getting a headstart in the blockchain revolution. Also, your answer is quite similar to one of mine which makes its use in education very feasible.

1 year ago

Thanks for the recommendation of decade.org. I've given them a look, completed blockchain 101, and found it to be useful. Nice work on the $100 ae reward!

1 year ago

Anuar Ali senior

The best proposals is for me the oracle integration from Aeternity. I think at the moment all the smart contract blockchains lies in the missing real-world use cases. There are millions of use cases, it really boils down to which ones make more sense as to ROIs. And that's where oracles come in. No matter what cases you guys end up utilizing, wishing you the very best and good luck. 

1 year ago

Have come across what AE is really doing and uhas come to stay I'm of the opinion that soonest the AE blockchain will take it's position in the blockchain industry more so with partnership with Oracle it's a great connection that will enhance the greatness of the project. 

I think AE can be used in the area of project introduction to the crowds, especially by given them tasks to perform and be rewarded for the tasks performed AE can be useful by aligning confirmation of successful tasks to who performs the tasks,AE should be able to confirm that the tasks has been successful done by the person then rewards the person through the address provided or through rewards patterns.

1 year ago

Karen M guru

That sounds like you are describing crowdholding.

1 year ago

Laszlo Bihary new user

I am a web and video editor for 20 years...I really love what I do

First time I heard that AE is actually interacting with Oracle database and this make the AE Chain much more attractive for a investment for me. But anyway my idea for a Dapp would be to help preventing the clima change! It would be great to have a app that let’s say you take People to make there way of traveling CO2 neutral because if you If you take a airplane instead of the train or a electric car the smart contract would pay XY amount to a green business for planting new trees and when you take the train you get rewarded. 

I believe it is already very late to help Mother Earth Not to cool down again from getting completely destroyed by the industry for some $.

And if not all the countries help together it will not be a nice future for my son!

 

My wallet: ak_272GYXozKekaDRVutgt1wWH4X67Bsr1cwwgnGkCCMde5qAu1pi

1 year ago

Ethan Clime guru

CEO of Crowdholding.com

Hey Laszlo, welcome to the CH community! Make sure to place your public key in the survey as well. Cheers!

1 year ago

Aeternity looks very interesting from the first sight, I think the Name, Logo and Branding stands out to some degree, which is important since Aeternity will have to compete with Ethereum and the likes and has to establish a strong brand therefore. At the moment Ethereum is clearly the first player for the Smart contract blockchains, but there are a lot of unsolved problems yet. But the die is not yet cast. And your approach to scaling with side chains is also used by Bitcoin, so its clearly a good choice. The best proposals is for me the oracle integration from Aeternity. I think at the moment the biggest problem of all the smart contract blockchains lies in the missing real-world use cases. And that's where oracles come in. 

Following my examples for oracle use cases:

  • Inheritance of crypto assets is a not yet solved problem, oracles could solve this problem
  • A very stringent problem in crypto today is the loss of the private keys. Smart contracts could be entrusted with the private keys and the real owner could claim the keys in case of loss, clearly here will also be needed an oracle. The same applies to inheritance.
  • Land and property tokenization is in theory quite easy, but in practice insanely difficult, here are oracles needed. There needs to be monitored already the initial status to prevent fraud. Just think about countries with rampant corruption. Does it solve the problem to tokenize land if the fraud occurs before the tokenization?
  • Supply chain management put on the blockchain, in my opinion, is right now not trustworthy. How can a supply chain been effectively monitored and prevented any fraud by just putting some (random) events on the blockchain, there is no guarantee whether a physical good comes from a certain source and any claims can easily be made without any proof. Here I see a good use-case for oracles.
  • Worldwide insurance coverage fraud prevention, for example some states in India are known to sell death certificates (while maybe today is done a very expensive investigation, this process could be automated by oracles in the future)
  • Review portals for products or services could enhance their trust level by implementing oracles (by verifying how valid attributed scores or certain reviews are)
  • Prediction markets for investments
  • Smart contracts in general with real-world outcomes need to be surveilled by oracles, to validate if a certain outcome is true and therefore the smart contract can release funds. Today is needed a notary or a lawyer, in future might be needed just a smart contract on the Aeternity blockchain and an oracle.

1 year ago

De Gem guru

Cryptocurrency enthusiast, avid reader, rapper and SDG advocate.

Well done Tom. One of the best answers I've read so far.

1 year ago

Thanks. Yours also is well done, as usual.

1 year ago

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im not convinced TRYing to get users will help AE much at this stage... it might pump up new wallets with speculators.... and it might get a few people to hold it as a use case for spending (eventually)... AE does need devs.. but devs need users to use their stuff... and AE doesn't have a big enough userbase to make it attractive. Also, with new aepps... those aepps are going to be very niche... and niche markets are very small.... and not many dapps have many users using, as far as i know.

I'd really like to know AE teams strategy..for what they can talk about.. hopefully, they are trying to connect with major use cases, and not only small apps that only small niche groups will find interesting (if they ever hear about it). Satoshi Pay is, so far, the most interesting thing I've seen with AE... there might be somethign else, but it isn't occuring to me. Anyone know of anything?

 

Perhaps, the best that can be done is sell the existing utility of AE.. faster Transaction than Bitcoin and Eth... and much lower fees.

Sell that in advertising... but if people can not spend.. then... it might be an issue. Maybe, AE needs to partner with somethign like Bitpay... idk

1 year ago

Ethan Clime guru

CEO of Crowdholding.com

Hey Dede, thanks for the feedback and identifying the issues at hand. This is exactly what AE Ventures is working on to solve. By finding the niche market fit for the Aepps in their ideation stage, the projects can then pursue a global reach. Keep checking back and we look forward to further feedback from you from additional tasks these next few weeks.

1 year ago

Ryan Olesen expert

Have acted as an advisor on multiple blockchain & crypto currency related ICO's!

I think ae was designed and implemented from the start with only oracles and state channels in mind while expensive but probably is doable. I'm a big believer in a similar project as well called Chainlink (Link) with similar advancements, but when talking about good use cases, I think it would be to utilize the oracles to adapt real world rebate platforms to blockchain ie. e-Bates or Pei rebates back from PoS transactions both online and in person transactions. 

There are millions of use cases, it really boils down to which ones make more sense as to ROIs.

No matter what cases you guys end up utilizing, I wish you the best as I've been following your project and whitepaper since inception. 

4-Stars ☆☆☆☆

1 year ago

1. AE is a great project and I really admire what they are doing. I actually hold some in my coinomi wallet.

2. I think it can be used by marketers. I am not sure about the application but we can place advertisements on blockchain. The smart contract will be able to identify the the performing ads which achieve the set targets and proceed to make payments. The advertising industry is huge and this could make a big difference.

1 year ago

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1 year ago

My first impression is that I'm going to need to continue to learn more about the technological sides of blockchain as this partnership moves forward. I do look forward to learning more about blockchain technology in general and how the unique features of the Aeternity blockchain, i.e. Oracles and State Channels, are improvements on previous models.

This was a tough task to wrap my head around, and will likely expose my misguidings around blockchain, particularly in terms of what is possible, so bear with me.

The idea I propose is a restaurant table filling app that rebates the users' bill in AE. The oracle would bring in information, from OpenTable for example, on late minute available reservations at local restaurants. It would then distribute information on available tables to people in that geographic region. The smart contract is executed when the reservation is checked in and the user pays their bill. They are then rebated a portion of their bill (say 5%) in current value of AE to their chosen wallet.

I could see this being a fun app to use when travelling to discover local places to eat, or otherwise to just take a last minute adventure to a new or tried and true restaurant near the user. The restaurant wins by filling more reservations more often. The bar to entry would be low if the distribution of AE was incorporated into the bill payment. AE currency gets a new stream of daily volume transfers. Wins all around.

1 year ago

Karen M guru

My first impression is that I was confused. I had to go back and read again as this seems very technical to me. I've been involved with crowdholding a few months amd only became aware of crypto shortly before that. From what I understand so far, I do believe this would be beneficial to many businesses. One example takes me back to the graphic design task on crowdholding. While.most of is weren't helpful in that task, posting in the Aeternity platform with the specifics listed, could result in many new ideas for the company.

1 year ago

My first impressions of AE:

  • many changes regarding the team structure since the ICO
  • the team and project overcame all difficulties and is now stronger then ever with a solid foundation and a world class developer team
  • AE is providing many cool features which are built into the core-protocol (oracles, state channels and a naming system)
  • developer tools had some breaking changes in the latest releases and written smart contract code already needs to be migrated
  • SDKs are now mainly support all of AEs features (which they didn't in the beginning)
  • state channel showcases were just getting released (e.g. coffee shop)
  • the team is very transparent and every friday there is a weekly developer call where the developers say what they were doing/implementing in the past week
  • we now have all things available to build dApps on top of æternity =)
  • best place to ask questions or start discussions is the official forum

What use case for oracles would I like to see being built?

For me the it is important that we can built an application where we aggregate answers of different sources and only push the "correct" answer to the chain. In the best case (if possible) I would like to see an oracle in combination with state channels. A data-provider-oracle for sports results would for example open state channels with many different users and define a set of rules (minmum 20 answers and 90% of these answers must be the same) before pushing the data onto the chain. Each of the users (which are watching the sports event) can tell the oracle within the state channel that something happend in a certain sport event. The oracle would collect this data and push it to the chain where a smart contract can handle further actions based on the result. In the best case there would be some proof available so that the users which provided a correct data before a certain timestamp would be able to collect some small amount from the profit that the oracle generated through this data. I don't know whether this is possible. But that is definitely one of the best use cases I would like to see :-)

1 year ago

Dean Walsh guru

Don't listen to me because of who I am, I'm nobody like everone else.

I actually contributed to the Aeternity ICO but then haven't really followed you guys since then, so I was excited and pleased to see you here on CH and have an extra reason to catch up.

My first impressions back when I first encountered Aeterntiy were that I was very interesting in the Oracle Machine but slightly confused and sceptical about how and if it would work. I would still like to see a really good high level description of this which can be followed by someone who is not a technical person but who is a crypto enthusiast with a little knowledge. Not everyone can read and understand a scientific whitepaper too easily, especially with limited time and attention to devote to it.

It looks like you are making good progress, which is nice to see.

My idea for a use case would be to have the oracle provide crypto market data, which could be on things like changes in the number of Google searches, social sentiment data, or technical signal events, which can be used by trading bots.

1 year ago

De Gem guru

Cryptocurrency enthusiast, avid reader, rapper and SDG advocate.

  • The æternity project has great potential and can be used for several important objectives. I've seen it a lot of times on coinmarketcap but I never bothered to look it up. I'd like to state here that prior to seeing it here on Crowdholding, I didn't know anything like an Oracle Machine. As you said, it is one of the most unique assets of any cryptocurrency I've come across. It sorts of operates on the principle "If you have nothing important to tell me, don't say anything" which is impressive. I visited the æternity website and it's quite authentic. A lot of ideas are in place and the roadmap is closely being followed. There are as many as 52 team members and considering the dominance of æternity in the coinmarketcap top 100, it's evident that you guys are putting in a lot of hard work. I think æternity will be a great project to invest in considering the numerous potential uses it has and also the fact that its all-time high value is $5.86 (on CMC). It has the potential to rise again. I also think it's security system is solid considering its innovative state channels.

Now onto the use case ideas.

  • It can be used for selection and placement of students into colleges and universities based on their GPAs or SAT scores. Lets say a school's DApp using AE’s blockchain allows students to apply to their school by submitting their results. The smart contract can have rules for doing the job such as "GPA greater than 3.7 or SATs greater than 1,999". The oracle can check if these rules were met after the students submit their results and then tell the smart contract to enlist them as admitted. The students can then proceed to pay their fees.
  • Sports betting companies can employ the AE blockchain in building Dapps that pay stakers or allow stakers to pay after the outcome of a match. The smart contract can be given rules for doing the job such as "Pay if Real Madrid win but receive payment of Real Madrid lose". The oracle can check if these rules were met after the match is played and then tell the smart contract to make payment or receive payment. Considering the number of matches of different sports played worldwide and the number of betting companies there, this can be a serious opportunity to jump on.

1 year ago

Al Wallace guru

Food and cryptocurrency blogger with a diverse interest in investment/ crypto

Hi and welcome to crowdholding aeternityteam, it's great to have you on board! 

Interesting to read about the unique aspects of your blckchain too. The use of state channels to upscale your scalability is an interesting fix to a much discussed problem in the blockchain industry and one, which i believe is unique to your platform. It also partially  solves one of the issues which often comes into focus - security. Because users can interact off chain and only when transacting or updating ledger does the smart contract interact with the blockchain the potential points of access for potential hackers is much smaller and this harder to crack.

With regards to potential dapp use cases:

What about a gambling app. Users can place bets off chain using the app. the smart contract will pick up the rules of the available bets and then can have results fed in. For example. Lets say the bet is on a soccer game. The smart conract is programmed to react to the varios circumstances that are allowed in the bet. If a team wins then it picks up the users who have bet on that crcumstance, if the games is a draw it pcks up on the users who have bet on that outcome. It could be programmed to a huge set of rules based on the app creators wishes and have the bets themselves programmed in and then only interact with the blockchain to transfer funds form the winners to their wallets.This would create a really secure and trsted betting site whch is obviously big business across the world.

The aeternity chain could also be used for MMO style video games, where the users could play their game through the traditional means but the game could have a diverse microtransaction ssytem based on the aeternity tokenisation system. lets say the player is a character in a traditional shooter style game, as the player progresses through the game he could trade and buy new equipment items, online passes, vanity items etc. The smart contract would only need to connec to the blockchain to record these microtransactions.

Another interesting use could be a music store similar to the app store or itunes store whereby users could shop for  music/podcasts/audio books etc. Only connecting to the blockchain to transact/pay for items.

You could also have a bounty style platform where users could visit a dapp which asks them to perform arous tasks - blog posts, upvotes on medium, video posts on youtube etc. Once copleted the payment could be made via connection to the blockchain.

Perhaps the aeternity chain might also be useful to medical staff. Patients could be dealt with across the health organisations various branches and, as scalability, shouldnt be an issue it could be used for large organisations to communicate with each other but store personal information such as adresses and treatment information that would be immutable on the blockchain.

I think the applications are almost endless and i wish you the best of luck with your project and i am looking forward to learning more about it in the near future.

 

 

1 year ago

mike dmann guru

I am excited about the future of all crypto currency.

AE! With a broken infinity symbol with a promise of a decentralized Oracle.. 

 

Let's say there is a website creator who spreads out a project between multiple coders.  Each coder is given a task with rules to be followed on content, and code. The smart contract will  work with the Oracle and will make sure those tasks are completed before new task is given and payment for services can begin.

1 year ago