Published On: Mon, May 29th, 2017

Aeternity Seeks To Future-Proof Blockchain For Tomorrow’s Smart Contracts

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The buzz around smart contracts is a major driving force behind 2017’s multimillion-dollar ICOs, yet some are already looking beyond.
Aeternity CEO: Blockchain ‘Really Does Not Scale’ To Current Ambitions
While the slew of startups promising world-changing products and services leveraging the power of Blockchain continues, the issue of putting patter into practice is still being treated by many almost as an afterthought.
“Currently there are so many blockchains and let’s say smart contract or app, dapp projects which receive a lot of funding, but the existing blockchain technology really does not scale,” Yanislav Malakhov, CEO of Aeternity, said.

It’s like trying to build Youtube in 2000. It’s just too early.
Malakhov’s project, itself having launched an ICO today, focuses on next-generation Blockchain-based tech which puts implementation above noise.
Utilizing what it has coined as “state channels,” Aeternity aims to offer a considerably more efficient Blockchain on which to run smart contracts.
The Lightning Network Of Smart Contracts?
Drawing a comparison to the Lightning Network for Bitcoin, the concept lies in smart contracts being executed en masse off-chain, with the main chain used only for & …

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