The ityternity project, developing a blockchain protocol for open source smart contracts, released Roma Release, the first working version of its blockchain.
The ityternity team has developed a functional programming language Sophia, which allows you to create decentralized applications based on the blockchain Roma Release. Now developers and miners will be able to receive an award for their work in native AE tokens.
Also, æternity reported that Roma Release had a security audit at the Swiss company cnlab . According to its results, the protocol and the implementation of the nodes are found to be satisfactory, and the base application of the Base æpp system guarantees a level of security sufficient for commercial use.
The founder of æternity, Janislav Malakhov, commented on the launch of Roma:
“Creating a system that provides fast transactions, without sacrificing functionality and decentralization, it took us two years of hard work. The protocol is based on a completely new architecture, which takes into account the problems identified during the ten years of the blockchain. The launch of Roma is an important milestone on the way to mass use of technology. ”
Speaking about the system itself, he noted:
“We see æternity as a blockchain for the community. We will continue to create and implement new features in the protocol. ”
According to the developers of Roma Release, one of the main obstacles to the mass use of blockchain technology is the problem of scalability. In æternity, this problem is proposed to be solved by the so-called state channels, which can be compared with the Lightning Network system for smart contracts. The state channels allow you to conduct transactions and execute smart contracts outside the blockchain, thereby multiplying the speed and maintaining the level of security. Only the transaction results are recorded in the blockchain.
In addition, the æternity protocol uses the BitcoinNG consensus mechanism developed at Cornell University, and the Epoch reference node is written in Erlang , which has established itself in the telecommunications industry.
In addition to state channels, ораternity also implements an oracle mechanism, which allows the protocol to directly interact with the real world.
Other important features of Roma Release include:
- the naming system, through which you can create human-readable addresses and the names of contracts, oracles and user accounts;
- the mechanism of governance based on the model of “liquid democracy” (liquid democracy) – a system in which the holder of the token AE can vote either independently or delegate their voting rights to another person. Such voting can take place on any issues, including regarding the future development of the system.
Æternity also established a special accelerator for Starfleet blockchain startups. Accelerator's goal is to support projects that develop their solutions based on the blockchain æternity. The company expects that the first applications will appear in a few months.
Earlier, BlockchainJournal, together with æternity, released a special project on smart contracts.
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