æternity | POS/POW blockchain to unlock the Internet of Value




  • ⚡ (en)lightning smart contracts on global scale

    Hello IoT, IoV, FinTech, Video Gaming, The Unbanked, Trustless Exchanges, and Instant Micropayments!


    About:

    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.


    Blockchain Technology

    A blockchain architecture that is scalable, governable and scriptable

    • AE TOKEN

    AE are the access tokens to the æternity network and act as a unit of account for the resources spent on æternity.



    Furthermore, æons are the energy for any application implemented on the platform.



    The initial amount of AE for the genesis block will be determined by a smart contract on Ethereum.

    • SMART CONTRACTS

    State channels enable highly scalable, trustless transactions of value and purely functional, easily verifiable turing-complete smart contracts.



    State channels effortlessly support an immense throughput of transactions. The execution as well as settlement happens off-chain.



    In other words: They are one-to-one- sidechains, where the blockchain acts as a public crypto court.

    • ORACLES

    A crucial feature for most contracts, whether encoded as text or as code, is the ability to refer to values from the environment.



    The æternity Oracle Machine provides real-world data to the blockchain.



     Each user can ask questions about the environment. Everybody can answer. The consensus mechanism comes into play in case of disagreement.

    • NAMES (DNS)

    In the vein of Aaron Swartz’ work and Namecoin, æternity features an easy to use name system, that is both decentralized and secure, while still supporting human-friendly, memorable names.

    The blockchain’s state includes a mapping from unique human-friendly strings to fixed-size byte arrays, which are individually customizable.



    • ACCOUNTS & IDENTITY

    æternity's accounts are permission-less, but still allow customization via schema.org's semantic web scheme.



    Create and own your identity on the æternity network - then use it everywhere on the web!

    • BLOCKCHAIN NETWORKS

    æternity technology is free to use and easy to incorporate.



     MIT-licensed modules will allow easy implementation in blockchain consortiums and will enable free and open access for developers to be able to build on the æternity platform.



     Cross-chain atomic swaps do the rest.


    White Paper:


    CONSENSUS AND GOVERNANCE

    • Hybrid Proof-of-Work Proof-of-Stake blockchain

    • Consensus achieved by PoW mining

    • Algo: 'Cuckoo Cycle' by Tromp: GITHUB WHITEPAPER BLOG

    • 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: Sec. E(4): Transactions per second at a given memory requirements


    STATE 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.


    æpps and use-cases for æternity's smart contracts

    An excerpt of what can efficiently be built on æternity, the sky is the limit!

    Information Markets

    Latest efforts within the field have seen many developers create decentralized prediction markets which combine the best efforts of what academics call a workable theory, in order to facilitate decision making and pointing outright where the markets heads to.



     On the same principle as with micropayments, æternity brings prediction markets to the next level!



     The technology allows prediction market smart contracts right out of the box. From simple gambling, up to monetized weather predictions and event contracts.












    Decentralized Fintech

    Infinite scalability, instant payment functionality and Oracle prediction enables us to automate financial transactions that involve large amounts of parameters with any number of concurrent users.



    One of numerous things we can create with this is a new way to fund projects or even governments. A system, in which the funding is only unlocked upon completion of one or more selected events.



    Additionally it can be set to only unlock funds, if the outcome that is to be reached with the funding, is predicted favorable by the Oracle.












    Crowdfunding Projects

    How about crowdfunding using dominant assurance contracts? These specific smart contracts can be used to raise money for your projects and, at the same time, secure contributors against failure. If a project is unsuccessful, all participants get their contributions back.



     



    Using an oracle, æternity can additionally ensure that the provider of the good or service only gets paid after delivery.











    Trustless Exchanges

    The ability to exchange tokens is an essential part of a thriving ecosystem, providing for efficient cooperation and transfer between different blockchain projects.



     

    aeternity allows for cross-chain, trustless atomic swaps, for example between aeons and Bitcoin as well as many other assets.









    Instant Video Game Rewards

    Gaming is a huge, steadily growing industry especially in the blockchain ecosystem with its obvious advantages; Users are in full control of their in-game transactions, which means fees are kept to a minimum with no intermediaries. A fraud resistant network and irreversible transactions provided by blockchain technology deliver trustless and secure interactions.

     

    From simple games to high-end eSports titles, with æternity, users can rely on secure and instant transactions, sit back, and enjoy their gameplay.










    Micro & Nano Payments

    The payments market is highly competitive and, at the same time, offers countless innovation opportunities to streamline today’s confusing and ineffective ecosystem.

     

    æternity's unique way of handling transactions brings this to the next level by handling payments off-chain via state channels. This allows them to go through instantly, while retaining your privacy.

    you heard that right, instantly!

     

    Imagine banking for the unbanked, content monetization, paid API calls, decentralized live video streaming and a lot more.


    Roadmap:



    Team:

    FAQ:

    join:

    Links:

    Website:

    Twitter:

    Facebook:

    Reditt

    Slak:

    Github:

    Linkedin:

    Telegram:



  • æternity bounty program

    The best way to get a piece of æternity

    The æternity team is excited to present you the official AE bounty program. This is our first such initiative. More will follow.

    Over the next weeks, we invite you to participate in our campaigns and help us spread the word about the æternity blockchain. By putting yours skills to work, you will have the chance and privilege to be among of the first receiving the fuel, powering the æternity blockchain.

    How big is the bounty?

    For this bounty program, æternity has reserved 1 million AE Token (~ around 1.000 ETH). All of these AE tokens will be fully distributed among the æternity bounty campaign participants. As the total amount of participants is unknown, the AE token will be allocated based on a predetermined amount for each bounty campaign.

    Types of campaigns and funds distribution

    1. Signature campaign bounty: 350.000 AE
    2. Translation campaign bounty: 200.000 AE
    3. Contests: 100.000 AE (Contest #1, Live NOW!)
    4. Blog Article: 250.000 AE (Will be announced soon)
    5. Facebook campaign bounty: 50.000 AE (Will be announced soon)
    6. Twitter campaign bounty: 50.000 AE (Will be announced soon)

    Starting with a signature and translation campaign

    We are announcing our signature and translation campaigns first. There will be other exciting ways to earn AE tokens.

    Fun contests coming up

    With the goal of spicing things a bit, we decided to add a pinch of humor to the the bounty mix. We plan to announce four contests in the coming days and all of them will have a unique theme:

    1. T-shirt design (Now Live!)
    2. Meme contest
    3. Infographic contest
    4. Video contest

    Each contest will distribute 25.000 AE among four winners. Excited already?

    T-shirt design contest — Now Live!

    Find more information, visit the Bitcointalk thread.

    Get the details now!

    For more detailed information and ways to get involved, please visit the official æternity bounty thread at Bitcointalk.

    Get a piece of æternity!



  • The Digital Insurance Marketplace

    Blockchains excel in trust management and transparency. Any bells?

    The entire global insurance market is based on trust management. The process of creating an insurance contract evolved through the centuries, aiming to sell “peace of mind” to anyone with doubts about the future. A simple human interaction — the giving of a promise — slowly became “institutionalized”. The verbal commitment, although never broken by chivalrous men, was simply not in a position to accommodate the complexity of relations between parties with unknown moral stature. In time, “one’s word” became a source of protection only in small, closed communities, while insurance acquired the status of financial product and began to heavily subsidize the pulp and paper industry.

    Today, the insurance industry collects around $5tn a year in premiums(1). One can ensure anything and any risk that can be measured, can be reduced by a promise of payment. However, much like other industries that have accompanied human societies on their path of political, economic and social evolution, the insurance sector has yet to make full use of modern technology. The ripples created by interconnected, computational devices reached the ancient bastions of promise formalizers, but their effects were not as profound as in other sectors. Even today, “insurance is arguably one of the most old-fashioned, analog consumer services in existence.”(2) If it works, why change it?


    Objective Inefficiency

    Information technology is indeed helping the insurance companies reach potential users directly and make better-informed decisions for policy underwriting. These applications of technology, however, are induced primarily by “internal” competition. Everyone in the sector wants a bigger part of the pie and technology provides a way to improve the “façade” of insurance industry.

    On the inside, things look a bit different. “Companies are personal heavy, with agents, adjusters and analysts, comprising more than 2 million jobs (US figures). Systems are of the “legacy” type (read antiquated), built around paper documents. The average age of life insurance agents is 59 years old and it is estimated that there are an average of three duplicate processes in each customer sale. The insurance industry is currently relying on a time-consuming, costly and often opaque system. This results in low customer satisfaction, despite heavy marketing investments. (2)


    Insurance is About to Get “Blockchained”

    The primary feature of blockchain technology is trust management or, even more accurately, the absence of need for trust management. The Bitcoin network is often described as the “first permanent, decentralized, global and trustless system of records”. Even if you know nothing about the technology, your intuition tells you that insurance (perhaps banking too, wink) might be a good use-case for blockchain technology. Trust your intuition.

    Currently, 14 of the top 30 banks are engaging in blockchain proofs-of-concept (PoCs), while 21 of the 63 publicly regulated stock, futures and options exchanges are testing the technology for payments, clearing and settlement (3). Finance and banking are flirting with the idea of consortium and private blockchain PoCs. Transactional efficiency, real-time clearing & settlement, the elimination of third parties and the promise of blockchain programmability (by smart-contracts) are the primary features that attract big finance interest (and money).

    There is one vastly important difference between banking/finance and insurance. “While capital markets or trade finance are based on information asymmetry — an exporter doesn’t share profit margins, for example — insurance demands information disclosure”. Interestingly, the “public” part in “public blockchain” (such as Bitcoin or Ethereum) refers to the fact that all transactions are transparent. If you can identify a network of participants with unique public addresses, you can infer information about their transactions, balance and ability to cover their financial obligations to third parties. There is no need to pay for this information. It is on the public blockchain, free to be used by anyone. Blockchain provides transparency to financial operations. Let’s go a bit further.


    Blockchain Technology — Prerequisite for a Decentralized Economy

    The insurance industry is composed of centralized entities. Decisions on premiums are made by analysts using complex statistical models and various other data. Insurers determine the odds and decide on the amount of their compensations for giving a “promise to pay”. Does this sound familiar to you? If you are thinking of betting, you are on the right track. What insurance companies do is to create a bet, set the odds, select triggers and define execution. You know what? Blockchain technology allows for perfect replication of that process.

    Blockchain for Insurance

    In order for insurance on the blockchain to work, a few features must be technologically achievable:

    Identity of the insured. That can be attached to a unique address (a Bitcoin address in the case of the Bitcoin blockchain), the private key of which is protected by a password and/or 2FA solution. User reputation can be fully managed on the blockchain through digital identities (think electronic signatures). And that’s exactly what the “bookies” (insurers) need.

    Insurer/bookie setting the odds. There must be a way to determine the odds of an event occurring. How about a prediction market? Public blockchain solutions today do not offer integrated prediction markets. This service can only be provided by “attached” systems. This leads to increased complexity and inefficiencies, raising the cost of use. In the case of Ethereum, a prediction market service may be provided by Augur or Gnosis. For Bitcoin, HiveMind is considered the most promising project.

    What is a prediction market? It is a market where users can bet on outcomes. According to Paul Sztorc “Individuals might ‘bet’ on natural disaster, death of an essential leader, election of a ridiculous leader, industry-killing technological innovations, crippling regulatory activities, pandemic, disruptive weather or any other events.”(2)

    In the case of blockchain-based prediction markets, the “bookie” or the insurer is anyone willing to bet on the outcome of an event.

    Blockchain technology for prediction markets will change the relationship between risk modeling and underwriting, completely flattening the bond of trust into a simple marketplace. Blockchain-based prediction markets will become the insurance industry.
    Figure design by Dan Verowski.

    Immutable contracts. On a blockchain, cryptographically-secured smart contracts eliminate any trust-related risk. If event “X” happens, execution is immediate and irreversible.

    Transactional efficiency. Blockchain technology can ensure quick payments and clearing. However, some solutions are better in this than others. Scalability continues to be a big issue for the most popular public blockchains.


    æternity Blockchain — Tailor-made for Disruption

    The æternity blockchain incorporates all features required for a scalable, secure, stable, open and efficient insurance platform.

    Figure design by Dan Verowski.

    Prediction markets are incorporated in the consensus mechanism and allow anyone to bet on the outcome of any event.

    Oracles, using prediction markets enable users to stake digital currency and be rewarded for supporting the correct answer and punished for manipulation attempts.

    State channels enable parallel processing of smart contracts, eliminating scalability concerns for complex user relationships.

    Payment execution can be done off-chain, allowing for transactional speed limited only by peer bandwidth.

    Simply put, the technological opportunities that these powerful features create can potentially make æternity a force of disruption in the insurance industry.

    Figure design by Dan Verowski.

    Would you like to know more?

    Read our scientific whitepaper and/or visit our website.

    References:

    (1) CoinDesk. Report: Blockchains for Insurance. CoinDesk. URL

    (2) Shipley, Erin and Zhuo, TX. Why the recent hype about insurance tech will be just the beginning. TechCrunch. Jun 6, 2016. URL

    (3) CoinDesk. State of Blockchain Q3 2016. CoinDesk. Nov 16, 2016. URL



  • æternity Rewards Campaign (Spanish) Campaña de recompensas æternity

    La principal característica de un proyecto de código abierto exitoso, es su capacidad de integración con su comunidad. En æternity nos encanta estar siempre en contacto directo con nuestra gente, por eso estamos felices de anunciar nuestra campaña de recompensas, en la que estaremos premiando su participación.

    No te quedes atrás.

    Ya hay disponibles dos campañas y dos concursos de los que puedes formar parte; más están por ser anunciados. En total serán 1,000,000 de AE Token(1000 ETH) a repartir entre los participantes.

    Distribución de fondos.

    Así quedan divididas las campañas y concursos:

    • Campaña de firmas: 350.000
    • Campaña de traducciones: 200.000
    • Concursos: 75.000 (#1 anunciado)
    • Artículo de Blog: 125.000 (*)
    • Campaña de recompensas en Facebook: 25.000 (Muy pronto)(*)
    • Campaña de recompensas en Twitter: 25.000 (Muy pronto)(*)
    • Viene mucho más [200.000] (Muy pronto)

    La campaña de firmas (en bitcointalk) no aplica para usuarios Newbie.

    En la campaña de traducciones, solo se aceptará una traducción por persona y está prohibido el uso de traductores automáticos. Los 200.000 AE Token se repartirán entre la cantidad de personas que aporten traducciones válidas. Eneste link puedes revisar cuáles son los idiomas que ya están traducidos o reservados; si conoces otro ¡aprovecha! estás a tiempo de generar algunos ingresos extra.

    El primer concurso es para diseñadores. Se trata del diseño de la franela oficial del proyecto. Estos son los montos a repartir para los más creativos:

    • 1er Lugar: 12.500 AE Token
    • 2do Lugar: 7.500 AE Token
    • 3er Lugar: 3.750 AE Token
    • 4to Lugar: 1.250 AE Token

    El artículo de blog es uno de los mejores pagados. Pueden recibir 10, 20 o 30 acciones del monto total, dependiendo de la calidad del artículo.

    En nuestro hilo de bitcointalk están los detalles de todos los concursos, recuerda revisar todas las condiciones antes de participar.

    Muy pronto serán publicados los detalles de las campañas de facebook, twitter y más concursos. 200.000 AE Tokenquedan por repartir.

    (*) (19.03.2017) La cantidad se redujo a 2 debido al aumento reciente del precio del ETH. Pronto serán anunciados nuevos premios por valor de 200.000 AE.




  • How to Send Ether to æternity’s Contribution Campaign Wallet

    This article explains how to contribute using æternity’s customized webpage.

    Where do you keep your ethers?

    In order to have ether, or any other cryptocurrency, you need to have a wallet. Many types of wallets exist. There are exchange wallets (in Coinbase, Bitstamp, Kraken, etc) hardware wallets (Ledger, TREZOR, etc.), desktop wallets (so many!), mobile wallets (numerous!), paper wallets and different implementations of these same types.

    Do not send ethers or bitcoins from exchanges! The main thing that you need to have in mind when sending to æternity’s contribution ether address is that you:

    NEED TO KNOW/HAVE YOUR PRIVATE KEY

    In order to be 100% sure that your contribution is valid, we recommend using our customized webpage. If you are not sure you own your private keys, you can create an ETH wallet through our customized web wallet page and use it to send your contribution. Here is what you need to do:

    1. Go to <web wallet address>

    There you will see stats regarding the state of the campaign — total size of contributions generated so far in bitcoin and ether, generated AE tokenss, time left, bonuses, etc.

    Scroll down to the “Contribute Now” button and press it.

    2. Select ETH as your contribution method

    You are about to send ether, so select “ETH”.

    PHOTO that includes FIAT

    Fiat contributions will be accepted through a third party service provider at bitcoinsuisse.ch.

    3. Chose type of ether wallet

    Again, if you are not 100% sure you are controlling your private key, select “Generate New Wallet”.

    If you know your private key, have a keystore file or prefer to use your own wallet to send ether directly to æternity’s contribution campaign Ether address, select “Use Your Own Wallet”.

    4. Terms and conditions

    Please read and accept.

    5. Generate wallet

    You will be taken to “Generate Wallet” page. Select of a password and click generate.

    6. Your new ether wallet is ready

    There are three things that you need to do now, but two are of utmost importance:

    IMPORTANT:

    · DOWNLOAD YOUR KEYSTORE FILE

    This file is encrypted with your password (the one you just entered) and will keep your private key safe.

    · SEND ETHER TO THE NEWLY GENERATED ADDRESS

    Send ether to this address now from wherever you prefer — any type of wallet that you store your ethers in. You can use ShapeShift to exchange any other cryptocurrency to ether. Just select the input currency, select ether as the output currency and send to this ether address. You can also the address in a text file, so it is easily accessible.

    · SAVE YOUR PRIVATE KEY

    Just copy/paste your private key in a text file and keep it handy. You can use the same text file that you pasted your public key in.

    You will need this key in the next step

    You should store it, preferably in an offline device such as a flash drive. This private key ensures your access to AE tokens. Without it, you do not own AE tokens. If someone else acquires it, he will also have claim on those tokens.Keep it safe!

    · PRESS “CONTINUE TO CONTRIBUTION”

    OPTIONAL STEPS:

    · Print Paper Wallet

    If you have a printer at your disposal, you can print your public/private key combination on paper. In this way you will have your private key safely stored in an offline environment.

    · Download an unencrypted JSON file

    This file stores your private key in an unencrypted state and thus might be easier to obtain. There is really no point of downloading this file if you have your Keystore file.

    7. Check if your newly generated ether address was credited with ETH

    If you reach Step 8 and your transaction has not received at least one confirmation by the Ethereum network, your wallet balance will not be detected and you will not be able to send your contribution immediately.

    If this happens, click refresh in your browser. You will be taken to the home page of æternity’s web wallet page. Simply click “Contribute Now”, select ETH, select “Use Your Own Wallet” and use your private key or keystore file.

    8. Access your newly generated wallet

    You can do this either using your private key (that should be in the text file that you just created) or the Keystore file. For simplicity, select “Private key”, paste your private key and press “Unlock”.

    10. Enter contribution amount

    Under “Account Address” you will see your Ether wallet address. Just under it you you will see that address current “Account Balance”. If your balance is zero, check Step 7 above.

    You can add a message that will be included in æternity’s genesis block.

    Press “Send Entire Balance”, if you want to send the entire balance of your wallet. This will automatically calculate the amount of gas needed.

    11. Press “Generate Transaction”

    12. Press “Send Transaction”

    13. Confirm your contribution

    This pop-up should appear at the bottom:

    How to check your contribution?

    You can press the “View your transaction” link that appeared in the green box. That will load a Etherscan.io page. However, if you do it too quickly your transaction might not be immediately visible. If it is not, wait a bit and refresh the Etherscan.io page. Alternatively, go directly to Etherscan.io and in the top right box, enter your new wallet address and press search. You will see your contribution transaction.

    That’s it

    You have contributed to the development of what will be the next big project in blockchain technology.

    Thank you.

    Author, 

    Vladislav Dramaliev

    Digital Marketer, Founder of BitHope.org, CryptoCrowd.org & Sofia Crypto Meetup | æternity




  • How to Send Bitcoin to æternity’s Contribution Campaign Wallet


    This article explains how to contribute using æternity’s customized webpage.

    Where do you keep your bitcoin?

    In order to own bitcoin, or any other cryptocurrency, you need to have a wallet. Many types of wallets exist. There are exchange wallets (in Coinbase, Bitstamp, Kraken, etc) hardware wallets (Ledger, TREZOR, etc.), desktop wallets (so many!), mobile wallets (numerous!), paper wallets and different implementations of these same types.

    Not all of those wallets entitle you to direct access to your private keys.

    The main thing that you need to have in mind when sending to æternity’s contribution bitcoin address is that you

    need to know/have your private key.

    Do not send bitcoins from exchanges, ShapeShift-like services, mixers, or any other 3rd party service that does not provide you access to private keys.

    If you are 100% sure that your contribution is coming from a Bitcoin wallet address of which you own the private key, please follow these steps:

    1. Go to wallet.aeternity.com

    There you will see stats regarding the state of the campaign — total size of contributions generated so far in bitcoin and ether, generated AE tokens, time left, bonuses, etc.

    Scroll down to the “Contribute Now” button and press it.

    2. Select BTC as your contribution method

    You are about to send ether, so select “ETH”.

    Author, 

    Vladislav Dramaliev

    Digital Marketer, Founder of BitHope.org, CryptoCrowd.org & Sofia Crypto Meetup | æternity



  • æternity contribution campaign

    This is the 8btc-dedicated ether wallet

    Welcome to the æternity’s contribution campaign!

    Phase 1 of the campaign will start on April 3rd, 13:05 GMT and will last for 3 days [72 hours] until April 6th, 13:05 GMT.

    We have generated a special Ether address for our supporters from the Chinese community. Anyone willing to see the æternity project realized can:

    Send Ether to

    0x3D4e7B94C4Cd25318b55fB81e4a58239481f696d

    IMPORTANT: Only send contributions from Ether addresses of which you have the private keys. Do not send directly from exchanges, ShapeShift-like services, mixers, or any other 3rd party service that does not provide you access to private keys. Contributions from hardware, desktop, mobile & paper wallets of which you have the private keys and/or seed are acceptable. Make sure that you are sending to the correct Ether address of æternity’s contribution campaign. Funds sent to any other address will not be exchanged for AE tokens and will not be returned to you.



  • æternity multisig wallet key holders

    Here are the people who have a key to æternity’s multisig addresses


    Bitcoin key holders (5 of 7)

    • Yanislav Malahov (CEO, æternity)
    • Benjamin Peter Jones (CTO Bitwalla)
    • Martin Albert (EU/Bitalo)
    • Bradly Chun (CEO Mooti.id & Shuttlefund.com)
    • Marion Vogel (Marketing and Operations, æternity)
    • Vladislav Dramaliev (Marketing and Community, æternity)
    • Nikola Stoyanov (Strategy and Business Development, æternity)

    Ether key holders (3 of 5)

    • Yanislav Malahov (CEO, æternity)
    • Philip Frank, (Software Consultant at https://philipfrank.de)
    • Vladislav Dramaliev (Marketing and Community, æternity)
    • Nikola Stoyanov (Strategy and Business Development, æternity)
    • Marion Vogel (Marketing and Operations, æternity)


  • æternity Thank You for the Overwhelming Support!

    We would like to thank everyone who expressed interest in æternity.

    We are humbled and overjoyed that our vision for a scalable smart-contract platform is shared by so many contributors around the world. Your support is a confirmation that performance in a public blockchain is highly valued.

    We would like to thank everyone who expressed interest in æternity in the first 30 hours of our ongoing contribution campaign. Your support in our social channels, chats, groups and forums turned the last few hours in an incredible experience for everyone of us. We are really building an ingeneous and vibrant community.

    This is just the beginning

    There is much work ahead of us but you can be confident that we will build æternity not only to realize our technological aspiration, but to realize a vision shared by so many.


    There are is still 1 day 16 hours until the end of Phase One.

    1 ETH will continue to create 1000 AE token.


    Cap on Phase Two

    Phase Two will begin 45 days after the end of Phase One and will have the follow plan:

    Week 1: 1 ETH = 750 AE token + 50 AE token (in the first 24 hours) Week 2: 1 ETH = 700 AE token. Week 3: 1 ETH = 650 AE token.

    After the community feedback we received and a thorough consideration, we have decided to introduce a cap (limit on further AE token created) for Phase Two.

    The amount of AE tokens created in Phase Two will be determined by the following function:

    Thanks to Nikola Stojanow.





  • æternity TestNet: Installation and Mining

    An easy guide on how to run the fast æternity TestNet node on UBUNTU.

    Welcome to this comprehensive guide on how to run a node and mine on the æternity testnet!

    There are just 10 steps to start mining.

    1. First, it is fundamental that we make sure our system is up to date.
    2. We can do this by using a system console [CTRL+T]  Please use the following commands: update [sudo apt-get update] and upgrade [sudo apt-get upgrade] (you will be asked for a root password)
    3. Following, you may be asked for confirmation to download packages, if so, type “y” and press ENTER
    4. With the following line all node dependencies will be installed:  [sudo apt-get install erlang libncurses5-dev libssl-dev unixodbc-dev g++ git erlang-base-hipe]  (Those are programs and libraries the node needs previously installed to work properly)
    5. With the next line, we will auto-download all node files on our computer:  [git clone https://github.com/aeternity/testnet.git]
    6. The installation process can be continued for these downloaded files. (to install the node) First, we need to navigate to the folder, using: [cd home/YOUR_USER/testnet].
    7. Now we can install the node in the next line: [sh install.sh]
    8. Once installed, we just run it: [sh start.sh]
    9. Next, we can start passing commands to the node. A very interesting one, is mining: [mine:start().]
    10. After a while It will start showing mining data

    Remember, every line should be used without square brackets.

    Wasn’t hard at all, was it? Now have fun mining and tell us, how things are going.



  • æternity Contribution Phase One Overview (FAQ)






    The following is an incomplete overview of what happened and what is yet to happen between Phase One and Phase Two.

    We received many relevant questions from the community in the days after the end of Phase One. We have provided answers to many of you, but thought it is a good idea to summarize them all in a blog post. This is it.

    How much value was contributed in Phase One?

    Total amount of ETH: 120,827.41
    Total amount of BTC: 328.63

    *the only numbers that matter are the ones in the blockchain. A detailed contribution sheet will be released in the next few days.

    How many AE tokens were created in Phase One?

    All of the contributions make up 82% of all AE tokens so far: 139,089,935.08 AE. Additionally, 17% (out of the 100% total) will be reserved for the founding team, the founding company and the foundation (under development). Then there is 1% which is allocated according to a formula (to be finalized in accordance with what is technologically possible and makes sense) to people who have BTC and/or ETH addresses. This will take place at a future point in time, just before the launch of the æternity blockchain.

    How many tokens do I get?

    The tool at the bottom of æternity’s wallet website went through a number of improvements and should now work perfectly for almost all users. There are certain “special” cases that it might not cover, e.g. when you contributed from an exchange.

    If you are certain that:

    • you have contributed cryptocurrency to æternity’s ETH or BTC address, and
    • your transaction is visible on the blockchain

    and yet, for some reason, the tool does not display the correct amount of tokens to which you are entitled, please send us information regarding your transaction to [email protected]. Always include your transaction ID and your sending address. We will try to assist you.

    Find this tool at the bottom of æternity’s wallet website.

    When will I receive and be able to transfer AE tokens?

    All AE tokens will be associated with the public key from which the contribution was sent. If you have sent cryptocurrency from an exchange or another third-party service, please fill in this from. If you sent from an Ethereum wallet contract, the wallet contract ID will be associated with your AE tokens.

    All AE tokens will be distributed to contributors after Phase Two is over. They will be created on the Ethereum network in the form of an ERC20 standard token. Once this is done, you will be able to transfer them by importing your private key into the æternity wallet or by using an ERC20 compatible Ethereum wallet. We will provide a guide on how to do that.

    Will the AE token be tradable on exchanges?

    Yes. Shortly after Phase Two and after the AE becomes an ERC20 token, it is expected to be traded on several exchanges.

    When/how will I get my Ledger hardware wallet?

    Anyone who contributed more than 11.9 ETH in a single transaction, or the equivalent in BTC, is entitled to a æternity-Ledger wallet. We are currently establishing the process of linking a public cryptocurrency address with the required shipping information. Once we finalize this, we will let everyone know what he or she needs to do in order to claim his or her Ledger.

    IMPORTANT: Only single transactions of more than 11.9 ETH (or BTC equivalent) are considered eligible for a Lædger hardware wallet.

    What will happen between Phase One and Phase Two?

    We are starting the process of extending the team by attracting talent from the blockchain space and beyond. We are also organizing meetups and events to grow the community. A few very interesting bounties will be announced soon, so stay tuned. Check out the æternity Meetup bounty.

    On behalf of the team, we want to thank all contributors! æternity will be a blockchain built to last!
    Thanks to Lior Zysman, Vladislav Dramaliev, and Dan.



  • æternity Wiki Bounty Campaign 1000 ETH Bounty

    The æternity Wiki is now LIVE! Would you like to help improve it? We have some AE token for you!

    Wiki Pages are so Informative!

    We have spent long hours exploring the Bitcoin and Ethereum Wiki resources. Such knowledge banks are undoubtedly a fundamental, primary resource of information for many projects in or outside of the blockchain sphere. æternity now has one too and you can help improve it!

    How to Contribute

    To contribute, one needs to sign up for a free GitHub account.

    Then go to the æternity Wiki and press “edit” or “new page” as appropriate, make the changes and press save.

    The bitcoin wiki can serve as a great role model on what we would like to accomplish with æternity Wiki. Becoming a comprehensive source of information on æternity among general information on blockchains.

    Note, contributions must be original. Your copyright will be surrendered to the æternity project and published and the æternity Libre, Free and Open Source license.

    Non-original contributions are possible, if the content is under a Free and Open Source license we can comply with an advertise proper attribution of the source.

    Let’s make the Wiki great (again)! :)

    Wiki Contributor Bounty

    There is a 1000 ETH bounty for contributors to the æternity Wiki. Bounty is open to everyone. Bounty will be distributed as follows.

    When Phase Two of æternity’s contribution campaign starts, we will look into the git history.

    • 50% of the bounty will be distributed among all participants.
    • The remaining 50% of the bounty will be distributed to the top 10 quality Wiki contributors.

    Since the evaluation of contributions can be quite subjective, please do not participate by editing the Wiki solely for the bounty. Always have in mind that your contribution might not get the appreciation that you think it deserves.

    The bounty is sponsored by Simply VC Co Ltd, a subsidiary of Simply Holding Co Ltd.



  • æternity Contribution Campaign Phase 2








    May 29 is here, Phase 2 starts soon. Here is what potential contributors need to know.

    Team æternity is getting ready for the launch of the second and final phase of the contribution campaign. In phase one æternity collected about 120k ETH and 320 BTC for the development of æternity blockchain from about 2000 future users worldwide.

    We have been very busy in the 54 days between the two phases, arranging new partnerships, on-boarding developers and expanding the æternity team and community globally. If you are interested in receiving detailed information about the progress we have made in-between phases, please refer to the embedded blog post below. We will continue to work hard in order to realize the æternity vision during and after Phase 2. Expect a detailed update on what we accomplished in-between phases.

    In order for potential contributors to have a smooth experience while initiating their support for the project, we would strongly advice them to go through the following essential information.

    Phase 2 — Public “Early Adopter” Round

    Start: May 29th, 13:05 UTC/GMT

    Duration: 3 weeks maximum, 6 hours minimum.

    Cap on Contributions: 21 million CHF (twenty one million Swiss Franks) in ETH and BTC (total). Once the cap is reached, supporters will have 6 more hours to register their contribution.*

    Token distribution schedule:

    Week 1: 1 ETH = 750 AE token + BONUS: 50 AE token (first 24 hours) Week 2: 1 ETH = 700 AE token. Week 3: 1 ETH = 650 AE token.

    Contributions will again be possible with ETH and BTC. If you are contributing BTC make sure to put the highest fee possible so your transaction gets a confirmation quickly. For contributions with fiat currency, please get in touch with our partner Bitcoin Suisse.

    In order to participate, go to wallet.aeternity.com on May 29th at (or after) 13:05 GMT/UTC. You will need to set up a new wallet. More detailed information will be released just in time.

    To find out when Phase 2 will begin in your local time, please use this time zone converter. Just enter 13:05 and UTC on the left and select your city on the right. Here is an example.

    AS A REMINDER: Do not send from exchanges.

    *This is due to the following considerations: There is no advantage to contributing within seconds after the wallet is open - Every participant needs to have a reasonable amount of time to setup a new wallet and read the terms & conditions - We need to allow third-party partners (e.g. Bitcoin Suisse) time for on-boarding - Our experience with Phase 1 shows that transactions (esp. bitcoin ones) could be slow to confirm for users paying average or low fees. In order to be certain that your contribution was registered within the relevant time period, please pay a high transaction fee

    Thanks to Dan, Vladislav Dramaliev, and Marion Vogel.




  • How to Send Ether to æternity’s Contribution Wallet : Phase 2 Guide






    This article explains how to contribute using æternity’s wallet webpage.

    Where do you keep your ethers?

    In order to have ether, or any other cryptocurrency, you need to have a wallet. Many types of wallets exist. There are exchange wallets (in Coinbase, Bitstamp, Kraken, etc) hardware wallets (Ledger, TREZOR, etc.), desktop wallets (so many!), mobile wallets (numerous!), paper wallets and different implementations of these same types.

    Do not send ethers or bitcoins from exchanges! The main thing that you need to have in mind when sending to æternity’s contribution ether address is that you:

    NEED TO KNOW/HAVE YOUR PRIVATE KEY

    In order to be 100% sure that your contribution is valid, please use our customized webpage and create a new ETH or BTC address. Here is what you need to do:

    1. Go to wallet.aeternity.com

    There you will see stats regarding the state of the campaign — total size of contributions generated so far in bitcoin and ether, generated AE tokens, time left, bonuses, etc.

    Scroll down to the “Contribute Now” button and press it.

    2. Select ETH as your contribution method

    You are about to send ether, so select “ETH”.

    3. Choose type of ether wallet

    We strongly recommend to generate a new wallet.

    If you are not 100% sure you are controlling your private key or seed, simply create by selecting “Generate New Wallet”.

    If you know your private key, have a keystore file or prefer to use your own wallet to send ether directly to æternity’s contribution campaign Ether address, select “Use Your Own Wallet”.

    4. Confirm you are not an US resident and accept terms and conditions

    Please read and accept by pressing the “I have read and accept…” button

    5. Generate wallet

    You will be taken to “Generate Wallet” page. Read through all the privacy warnings by pressing “Okay, I got it”

    6. Write down your seed!

    Write down your seed on a sheet of paper. It cannot be copy-pasted intentionally.

    7. Confirm that your seed is correct by re-entering the seed words

    Enter the seed words that you just copied in the correct order. If the word is correct, the box will light up in green. If you have missed a word or the system does not accept your word entry (the box will light up in red) simply restart the process and generate a new wallet. Press “Looks good”

    8. Access your newly generated wallet

    You will see the public address of your newly generated wallet. Send ETH to that address before continuing to the next step. Please allow at least one confirmation on the ETH network before proceeding to the next step. Wait 2 minutes and press “Continue to Contribution”.

    9. Contribute by sending from your newly generated wallet

    You must see the amount that you have send to your brand new ETH wallet (of which you know the seed) under “Account Balance”.

    If your balance is zero, please go back to step 3, click “Use your own wallet”, select “Mnemonic phrase” and enter the words from your seed, separated by spaces. If your seed is accepted, the contours of the box will light up in green.

    You can add a message that will be included in æternity’s genesis block.

    Press “Send Entire Balance”, if you want to send the entire balance of your wallet. This will automatically calculate the amount of gas needed.

    10. Press “Contribute”

    11. Press “Send Transaction”

    12. Confirm your contribution

    This pop-up should appear at the bottom:

    How to check your contribution?

    You can press the “View your transaction” link that appeared in the green box. That will load a Etherscan.io page. However, if you do it too quickly your transaction might not be immediately visible. If it is not, wait a bit and refresh the Etherscan.io page. Alternatively, go directly to Etherscan.io and in the top right box, enter your new wallet address and press search. You will see your contribution transaction.

    That’s it

    You have contributed to the development of what will be the next big project in blockchain technology.

    Thank you.










  • æternity Incubation Phase Update

    What team æternity accomplished between Phases 1 and 2.

    Development

    Protocol development reached a point where all upcoming applications are able to run safely. Detailed description about æternity’s technology can be found in this new blog post.

    We are now focusing on interface (SPV Wallet, block explorer) and feature development (State Channels, Trustless Markets).

    Zackary Hess, our tech lead, is currently working on implementing lightning routing via State Channels.

    So far messages travel 6 out of 10 lightning handshakes, meaning in the coming days we will have off-chain transactions with lightning routing ready for deployment in the testnet!

    Features currently being developed

    State Channels

    • Using the State Channels for processing bets and payments successfully
    • Using Lightning Routing via State Channels

    Recently done:

    • Setting up the State Channels to accept & process Oracle bets
    • Setting up the State Channels to accept & process payments
    • 1 Hop-Lightning transaction (payment)

    Tasks up next:

    • Multi-Hop lightning transaction (payments)
    • 1-Hop lightning transaction (contract)
    • Multi-Hop lightning transaction (contract)
    • Trustless moving of contract to a shorter path

    Research

    Integration with other Blockchains

    In the wake of our quest for potential partnerships and collaboration possibilities, we encountered the question about how complex or difficult it would be to make the æternity and its consensus algorithms compatible with other blockchain protocols, e.g. hyperledger. æternity’s decentralized oracle is a feature that other blockchain projects may be interested in.

    According to Zackary, this can be done with a minimum amount of difficulty, as there is only one thing to do — installing a new hashing algorithm (instead of the currently applied SHA256).

    Use-Case Concepts

    Education

    We can utilize æternity’s powerful features to disrupt education with blockchain by creating an open marketplace where students and teachers alike, can trade private or group lessons. It should include social profiles of both teachers and students and could be gamified. Also, by using æternity’s oracle, students can allow more than one teacher to rate a test, exam or other work.

    Read More

    Charity Crowdfunding

    Enhance crowdfunding platforms with the ability to better granulate release and coordinate and review application of funds.

    Read More

    Supply Chain Management — Automation

    We managed to sketched up a high level concept of how in the near future, Supply Chain Management (SCM) could be fully automated and transparent to leverage profits for everyone involved, proportional to the energy/time/attention invested.

    Read More

    Organization

    Working on a release plan

    In order to properly test the code and all its components thoroughly, a regular roll out of newly written code onto the testnet (for integration test purposes) is vital.

    We are currently discussing how to establish a secure, efficient and lean release process to roll out features as fast and secure as possible. At the same time we are working towards offering an attractive platform to gather resourceful, motivated & progressive developers around meaningful projects and ideas.

    Human resources

    The æternity team is interviewing developers and UI/UX designers to extend our core with like-minded individuals that can contribute to the process of making the æternity mainnet a reality. More nimble minds joined our cause during the incubation phase, here they are:

    • Michal Zajda — SENIOR ERLANG ARCHITECT
    • Alex Siman — SENIOR WEB DEVELOPER
    • Andrey Stehno — SENIOR FULL-STACK DEVELOPER
    • Alessandro De Carli — TECHNICAL BLOCKCHAIN ADVISOR
    • Steve Dakh — CRYPTO TECH ADVISOR

    For more information, check out the updated team page on the website.

    Expanding the community

    Part of the team is working on facilitating the Ledger Nano S claim process and aiding people in Slack & Telegram with troubleshooting. Shipping has already commenced.

    We have collected your ‘sent from exchange’ issue requests and are evaluating how to proceed with issue, please be patient here, as despite our best efforts, we expect to have some more ‘sent from exchanges’ cases. We would like to again ask any potential contributors to NOT send directly from exchanges! Read this before you contribute.

    Incubating æternity

    We are about to conclude the process of establishing a Liechtenstein based foundation, in order to formalize and strengthen æternity, as well as other open-source blockchains and projects. The government of Liechtenstein welcomes technology startups and the progressive judicial system is an ideal harbor to commence the voyage into the blue ocean of blockchain technology.

    Once the foundation is set up, we will start the incubator program to facilitate the brightest, most promising minds and projects to start being build on æternity. One of the locations for the Incubator will be Ukraine and Bulgaria, due to the availability of experienced developers and a well-developed cryptocurrency/blockchain community.

    We are happy to announce our provisional appointment to ‘Research and Technical Advisory’ (RATA) at the Hong Kong based Belt and Road Blockchain Consortium. With this initiative, we are striving to make a change by improving global SCM, making it more transparent, efficient, profitable and sustainable.

    Building networks

    Right after the Phase 1, we spread out to carry the word of æternity to the ears of understanding, as well as building and maintaining potential partnerships and collaborations.

    This is a complete list of meetups and conferences that we attended during the incubation phase:

    • BlockShow Europe 2017, Munich, April 6, 2017
    • Blockchain Stuttgart, April 24, 2017
    • Webit.Festival Europe, Sofia, April 25–26, 2017
    • Blockchain Cologne, Cologne, May 4, 2017
    • Founders Club Maastricht, Brightlands Campus, Heerlen, May 11, 2017
    • æternity Hong Kong Meetup, Hong Kong, May 14, 2017
    • FinTech Matters 2017, Vienna, May 17, 2017
    • Gottfried Von Haberler Conference, Vaduz, May 19, 2017
    • Consensus 2017, New York, May 22–24, 2017
    • æternity Berlin Meetup, Berlin May 30th, 2017
    • Blockchain for Healthcare, Berlin, May 31, 2017
    • Blockchain Expo Europe, Berlin, June 1–2, 2017

    More event details at the dedicated blog post.

    Meetups

    In addition, over 25 meetups in different cities all around the world were held during the incubation phase! Seoul, Beirut, Capetown, Malta, Rotterdam, Venezuela & Berlin, just to name a few.

    We will be happy to see you at one of the upcoming meetups or maybe even start one in your own town?

    Wiki Bounty

    The Wiki Bounty has drawn some attention and populated the Wiki on GitHub with lots of content, feel free to dig in.

    Building and maintaining a formidable, creative, colorful and vibrant community is a rewarding task, primarily because almost everyone involved is creative, industrious, open minded & respectful.

    A humongous THANK YOU to the amazing community æternity is supported by!

    Come and join the one of the most precious and rapidly growing communities in the Blockchain space at:

    Telegram | Bitcointalk| Reddit| Slack | Wiki | The Blog





  • æternity Update on Phase-2, Calculation Issues During Phase 2







    At æternity we want to be honest and transparent with our community. That’s why we would like to describe the issues we faced during Phase 2 in detail.

    We’re working to create a fair solution for everyone. That’s why we haven’t frozen a rate of BTC/ETH for the Phase 2. Instead, we’re going to calculate amounts using accurate prices based on a timestamp of each transaction.

    For this reason, at the beginning of Phase 2 we used a web API of CryptoCompare.com as a provider of historical currency rates. We took rates every 15 minutes. Here is an example of a request that we used:

    https://min-api.cryptocompare.com/data/pricehistorical?fsym=ETH&tsyms=BTC,CHF&ts=1496019600

    Past approach

    How did we calculate AE tokens for BTC contributions?

    For ETH contributions we have a fixed conversion rule to AE tokens. But for BTC contributions we decided to go this way:

    • Take ETH/BTC rate from CryptoCompare.com every 15 minutes, based on the block time of BTC transaction.
    • Convert BTC amount to ETH using the rate.
    • Apply ETH/AE tokens rules.

    How did we calculate CHF total?

    For the calculation of the CHF total of Phase 2 we used a similar approach:

    • Take ETH/BTC and ETH/CHF rates from CryptoCompare.com each 15 minutes, based on the block time of ETH and BTC transactions.
    • For ETH transactions: multiply ETH amount by CHF/ETH rate.
    • For BTC transactions: multiply ETH amount by BTC/ETH rate, then multiply the result by CHF/ETH rate.
    • Calculate the sum of CHF amounts of all Phase 2 transactions.

    Why do I say in past tense? Because we faced several issues with historical rates provided by CryptoCompare.

    Issues

    We want to apologize deeply to creating any confusion with the front end. Please see that this was not intentional.

    Issue #1: More AE tokens for BTC contributions in the first day

    We accidentally used BTC/ETH rate of Phase 1 during the first day of Phase 2. In April the BTC/ETH rate was 2 times smaller than now, so once we fixed this issue, BTC contributors noticed that the amount of tokens decreased. This is because we recalculated your AE tokens with actual BTC/ETH rate.

    Issue #2: Floating amount of AE tokens for BTC contributions

    On the second day of Phase 2 we noticed that amount of AE tokens for BTC contributions changed a little. Why? Because when we selected CryptoCompare as a provider of historical currency rates, we didn’t notice on their web API documentation, that for previous days (but not the current day) their API returns the price at the end of the day GMT based on the requested TS.

    This means that during the current day we calculated your AE tokens using the accurate rate, which is based on the time of transaction. But on second day we calculated using the rate at the end of the day that the contribution was made. This was wrong.

    Issue #3: Frozen CHF total on June 3

    During June 3 there was a moment when total CHF was not changing while amounts of ETH and BTC contributions increased. Why? As mentioned earlier, we used CryptoCompare for rates and at some moment this service started to return 0.0 rate for a pair ETH/CHF.

    Current approach

    After having the issues with CryptoCompare that mentioned above, we made a decision to use the rates from Poloniex as this is the most popular crypto exchange and it makes an impact on the price of cryptocurrencies. Although Poloniex has a good API, it doesn’t return an average price for each 15 minutes interval, and we needed this.

    This is why we created our own solution that takes all historical trades from Poloniex in a date range of Phase 2 and calculates the average rates of BTC/ETH and USDT/ETH every 15 minutes.

    How do we calculate AE tokens for BTC contributions now?

    To calculate AE tokens of BTC contribution we use the following formula:

    AE_tokens = (BTC_amount * ETH/BTC) * AE/ETH

    Where AE/ETH is equal to the token rules of Phase 2.

    How do we calculate CHF total now?

    As Poloniex uses USDT but not CHF, we assume that USDT/CHF is around 1. You can check it on your own: the price is floating between 0.98 to 1.03.

    The formula of total CHF of Phase 2:

    Total_CHF = (Total_ETH + Total_BTC * ETH/BTC) * USDT/ETH

    Where we take the ETH/BTC and USDT/ETH rates from Poloniex and calculate an average each 15 mins.

    Why you should not worry about your AE tokens

    Blockchain is our friend. As all your contributions are recorded on a blockchain in either Ethereum or Bitcoin, you will get the right amount of AE tokens. Everything will be recalculated one more time using the right currency rate at the time of contribution.




  • æternity contribution campaign Phase -2 Cap Hit Time






    Cap Hit Time

    We just reached our self imposed cap. The aeternity contribution campaign will end in 6 more hours from the time the cap got hit. To check the current time, please have a look at our contribution wallet.

    Thank you for your incredible support.

    A recap of the campaign, a contribution sheet as well as a script to verify the contribution sheet will be released shortly.

    Afterwards our ERC20 token contract will be deployed, first on testnet, then on mainnet.









  • æternity Claiming your Ledger Nano S with a Hardware Wallet Device






    Learn how to sign a message with your Ledger or TREZOR.

    If you are one of first 1000 users who contributed more than 11.9 ETH (or BTC equivalent) during æternity’s contribution campaign Phase 1, you are up for a special treat — a unique, æternity-branded Ledger Nano S.

    In order to claim that and receive a voucher for a free hardware wallet device from Ledger*, you need to use one of the methods, available at wallet.aeternity.com.

    Since a number of people contributed to æternity’s development using a wallet device, we thought it might be a good idea to help them claim their prize with a short guide on how to sign a message (in this case their e-mail address) with the private key of the address that they sent their contribution from. It sounds a bit tricky, but it shouldn’t take you more than 5 minutes if you are following the instructions below:

    Step 1

    Convert your email address to hex using this tool. You will receive an output like: 74 65 73 74 65 6d 61 69 6c 40 74 65 73 74 2e 63 6f 6d

    Edit that to remove the spaces: 74657374656d61696c40746573742e636f6d

    Step 2

    Goto My Ether Wallet and select the “Send Offline” option.

    Step 3

    In the “Step 1: Generate Information (Online Computer)” section, enter “From address”. This must be the address you are claiming for (i.e. the one you sent the 11.9+ETH from). If the address is correct, you should see “valid address”.

    If you are not sure which address you sent your contribution form, check its AE balance using the tool at wallet.aeternity.com.

    Click “Generate information”.

    Step 4

    In the “Step 2: Generate Transaction (Offline Computer)” section,  enter “To Address” this is the same as the “From” address from above. The “Value/Amount to send” must be 0 (send NOTHING!). The “Gas Limit” should be 1, since this prevents the transaction from ever being able to run on the chain.

    The data that you must input is your email address converted to hex, with all the spaces removed, and add “0x” in front. Using the example hex string from Step 1, it should look like: 0x74657374656d61696c40746573742e636f6d

    Step 5

    In the “How would you like to connect to your wallet” section, select “Ledger Nano S” or Trezor and click “Connect to <type of device>”. You will then be shown the addresses on your Ledger. Select the one you are claiming for and unlock the wallet.

    Step 6

    Click “Generate transaction” and confirm the transaction on your hardware device (MEW is accessing the private key stored there to sign the transaction and it needs your authorization like any transaction). You should now see the RAW transaction and Signed transaction boxes populated.

    Step 7 — Final Step

    Open a new tab in your browser and go to wallet.aeternity.com and press the “Claim your æternity Ledger now!“ button. Scroll down to Option 2. Enter your ETH address (the one you sent your contribution from), your e-mail (plain text, non hex form) and copy/paste the contents of the “Signed Transaction” box from My Ether Wallet into the “Signed transaction containing …” field:

    What you need to do now is sit back and relax. You will receive an e-mail from us.

    We hope this helps!

    Special thanks to hooper from æternity’s Slack channel for helping with this guide.

    *In accordance with the terms and conditions, shipping and taxes are not included and must be covered by the user.



  • Parity Multisig Wallet Hack

    Update on the Parity 1.5 (or later) vulnerability exploit.

    Due to a zero day exploit in Parity 1.5 or later, funds were moved out of a number of ETH multisig wallets without any authorization by unknown perpetrator(s).

    æternity was using a parity “enhanced” multi-signature wallet on the latest parity update. Many projects in the space have used the same practice and have been affected as well.

    As far as we know three project multi-sig wallets have been affected by the black hat attack:

    However, many other multi-sig wallets have been exposed to the vulnerability as well, but got saved due to white hat attacks.

    We are currently examining the situation together with the ‘Multisig Hack Response team’ and other members of the Ethereum community.

    It was a vulnerability in the Parity multisig smart contract.

    Around 82,000 ETH (of 102,000 ETH) sent to æternity during Phase 2 were sent by an attacker to address 0xB3764761E297D6f121e79C32A65829Cd1dDb4D32 via an internal transaction. All other funds (ETH and BTC) of the æternity project are safe! The æternity development operations will continue as usual.

    Ethereum Account 0xbec591de75b8699a3ba52f073428822d0bfc0d7e Info
    Contract Source Code Copy Find Similiar Contracts //sol Wallet // Multi-sig, daily-limited account proxy/wallet. //…etherscan.io

    This is where we firmly stand:

    1. All AE tokens of the contributors are unaffected by this issue. Everyone will receive their tokens exactly as contributed.
    2. The project still has at its disposal the Phase 1 ETH (and what we exchanged to BTC) and all BTC of Phase 1 and Phase 2. æternity also still has control over 22k ETH of Phase 2.
    3. The amount of the remaining funds is still considerable and can cover the future development of the platform.
    4. The team is more determined than ever to realize the æternity project. We will do everything possible to make sure the project development continues unaffected.
    5. Yanislav will try to get in touch with the attacker to get some of the ETH back.
    Dear attacker, if you are reading this, please contact Yanislav. Let’s talk!

    We will keep examining the situation and update you as soon as we have new information.

    The æternity team will make sure that the project execution will continue with full steam ahead.

    Sincerely, the æternity team



  • æternity Dev-Log: 17–02

    Change log summarizing current development of the æternity blockchain up until mid of July.

    As of the beginning of May 2017, Zack Hess, our tech lead, was ready with the implementation of essential parts of the blockchain. These include;

    1. Handling accounts and keys.
    2. Exchanging p2p peers.
    3. Syncing blocks.
    4. Signing, bundling transactions and mining blocks.
    5. Channels, Oracles, Governance.
    6. Exposing HTTP interface for all transactions: accounts, channels, payments.
    7. Persistence layer.
    8. Trie itself and wrapper covering: accounts, channels, existence, oracles and governance.
    9. Important use cases that require optimized blockchain design like lightning payment.
    10. All of that supported by initial version of documentation and tests.

    Around that time the team started growing! We brought many years experience in Erlang, the technology that is powering the æternity blockchain, together with all the necessary skills to build reliable, industrial-grade chain.

    1. The blockchain is now regular OTP app and rebar3 manages deployment.
    2. We optimize configuration and instrumentation of the code.
    3. We have outside help to proof correctness and optimize our implementation of trie (detailed review is coming!).
    4. Our integration tests are now migrated to nose python framework.
    5. We introduced multiple node test deployments to test lightning payments.
    6. All of above managed from Makefile and we try to go along the best coding practices.
    7. We are re-doing HTTP API’s to talk in more verbose json objects and we back it up with swagger with all the goodies that swagger brings.
    8. We slowly optimize and refactor internal services for syncing, transactions.
    9. We got great community input and contributions around syncing blocks between nodes.

    What is up next?

    • We want to stabilize test framework and get CI running for each PR.
    • Finish re-factoring of the HTTP interface.
    • Write lite-node for browsers.
    • Introduce Markets support in blockchain code.

    Please feel free to join the discussion on Slack and/or reach out to Michal to let him know if you are willing to contribute! Joining our Slack is currently by invite only. Get in touch with someone from the team to get an invite.

    Michal, Architect.



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