THE FUTURE IS BLOCKCHAIN

Life itself is now getting entirely digital with new innovations like the iron trade, crypto currency and other types of foreign exchange. This paper is characterized by one specifically, crypto currency. Crypto currency has evolved over the years with different forms invented everyday. Like the first decentralized crypto currency, Bitcoin in 2009(based on pseudonymity). Other recent crypto currency in existence are ripple, ethereum(ETH), litecoin(LTC), cardano etc. As crypto currency evolved, another relevant and abysmal force that struck with intensity is the use of "block chains" for different transactions in crypto currency.
A block chain is simply a whole family of related block being approved by nodes (computers) while a block is a spreadsheet of approved transactions. Bitcoin have shown a new way to architect value exchange on the internet, ethereum demonstrated a way to write Turing-complete contracts secured by a block chain architecture, truthcoin created tools for making oracles on block chains, namecoin showed how to make the distributed equivalent of a domain name server etc... Although crypto technology has been accepted and each form shows great promise in providing first class financial and legal services to anyone, however, they have failed to establish a unified front and each solution that was rendered lacks either scripting safety, scalability, cheap access to real-world data and sometimes governance as their natural flaw. These platforms are limited in their abilities. Basically their inability to adapt to new economical or technological knowledge. For many business applications it's crucial to have transactions which are not recorded in public. Smart contracts executed in state channels touch the blockchain only in the case of disagreement, acting like a self-arbitrating crypto court.
The Æternity block chain seeks to change that. This block chain is a decentralised open source digital-asset platform that works on P2P technology. The Æternity cryptocurrency is denoted by the symbol Æ. Its total supply is 273.6 million Æ tokens. This crypto currency suggests that for many use cases, keeping state on-chain is not necessary. It is very often entirely possible to store all information in state channels. An alternative approach to this block chain architecture in which Turing-complete smart contracts exist in state channels but not on-chain. It would definitely increase the scalability since all transactions becomes independent and can be processed in parallel.
Scalability can be defined as the property of a system to handle a growing amount of work by adding resources to the system.
Most block chain systems suffer from unreadable addresses for their users like Namecoin, Æternity features a name system that could revolutionize the users. In a sense that it's both decentralized and secure while still supporting human friendly names. The names can be used to point to things such as account addresses or hashes on the Æternity block chain.
Hashes are functions that converts an input of letters or numbers into an encrypted output of a fixed length. It is used to generate algorithms and it is essential to block chain management in crypto currency.
This block chain resolves conflicts that arise roughly analogous to the judicial system. Although this block chain's behaviour may seem predictable, it incentivizes malicious actors to behave correctly and settles the final state on the block chain thereby increasing the transaction speed and volume by several orders of magnitude as well as privacy.
The Æternity block chain uses a hybrid consensus mechanism: Proof_of_work (PoW) and Proof_of_Stake (PoS). This block chain algorithm leverages the benefits of both. With a view on increased smart contract utility, this recent block chain is implementing integrated oracles which can be used to request and access real-world data from various providers. The PoS consensus mechanism is used to check the validity of answers and imbue them in the block chain making it accessible to anyone. The consensus mechanism can be defined as a fault-tolerant mechanism that is used in computer and block chain systems to achieve the necessary agreement on a single data value. Running two consensus mechanism on top of each other is tasking than running both separately. It is expensive and does not increase security. In this block chain, both consensus mechanisms (PoS and PoW) are conflated into one, essentially reusing the mechanism that we use to agree on the state of the system and the state of the system of the outside world. An oracle connects real-world data with smart contracts. Æternity's oracles are truly first-class objects on the blockchain. It also allows development of better random access memory (DRAM) chips with better feasibility & lesser electricity.
Generally, the Æternity block chain seeks to generate a unique identifier for the oracles. When we talk about the governance block chain-based system, the primary problem is the decision making process for a protocol upgrade or change is not well defined or lack transparency. The Æternity technology uses prediction market to function as efficiently and transparently as possible and it's governance system is part of the consensus mechanism. This block chain has proven to be highly scalable because of it's light clients, scale channels and parallelism, sharding tree. The scalability increases in this block chain with sharding. It separates transactions and smart contracts requests in a group of nodes called "shards". The purpose of sharding is to delegate the load across the multiple nodes and transactions per second at given memory requirements. In this crypto technology, fraudlation is drastically reduced or even at zero because of the built - in resistance network where transactions are not reversible.
Due to the "stateless" nature of it's smart contracts, apps can be easily built on the Æternity block chain.
Like everything in life, the Æternity block chain has its failings but nevertheless it's system is an asset and it's strength surpasses it's weaknesses. Just like light in the dark, Æternity technology won't shine any lesser from its invention in 2016 till date in the crypto market. With very good and high scalability and highly functional smart contracts, Æternity is strong and set to hit the crypto market.