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What Is Aeternity (AE)-A Comprehensive Guide On Aeternity Blockchain

thecryptobasic.com 12 February 2021 15:20, UTC
Reading time: ~7 m

This article is about Aeternity blockchain, its token AE coin. Aeternity Use cases, price prediction, How and where to buy AE, AE wallets and other necessary details.

What is Aeternity?

Aeternity or AX is a platform for decentralized apps (dApps). Aeternity has an important goal and wants to be a solution that can apply to smart contracts using Oracles.

Oracles provide a connection of data outside the blockchain with data within the blockchain. Employing this application, real-world data can be retrieved and applied to the smart contracts.

Aeternity also offers solutions that many other blockchains are still struggling with; one of these well-known problems is scalability. This is not only the limitation of the general blockchain but also for smart contracts and dApps.

Watch a video explaining Aeternity.

Aeternity ICO

Aeternity’s ICO was held on the Ethereum blockchain, making it an ERC-20 token. This ICO was the leading cause to raise money for the project.

Aeternity raised Almost 25 million Dollars in Aeternity ICO. The Aeternity ICO took place on May 25, 2017, and ended on June 10, 2017, after two weeks. Aeternity is the name of the project, and its token is AE.

In the Aeternity ICO, the team was able to raise 121,212 ETH and 324 BTC. It was a highly successful ICO of its time. The AE token was built as an ERC20 token but then shifted to Aeternity blockchain in 2019.

AE token came to existence by a pure Aeternity ICO. Like the Ethereum blockchain, where ETH is used for all blockchain transactions, in Aeternity blockchain, AE is used to pay transaction fees on the network and settle all contracts on the Aeternity blockchain.

Users can buy AE tokens on Huobi global, Gate.io, and BKEX. The best wallet for AE tokens is Trust wallet, Atomic wallet, and Base æpp. Base æpp is Aternity blockchain wallet.


Problems Aeternity Is Trying To Solve

  • Aeternity wants to minimize the transaction size. Aeternity intends to do this by storing all transaction information in an integrated side chain, where small but important information will be held on the main chain. This ensures that the data is minimized on the on-chain transactions, freeing up much more space.
  • Aeternity wants to develop a human consensus process where Aeternity holders can vote on the platform by voting yes or no. Voting takes place during the events of network changes or important decisions that take place on the forum.
  • Aeternity wants to solve the consensus problem. In contrast to other blockchains such as Bitcoin that uses the Proof of work algorithms. Such proof-of-work coins often face a problem when the control goes to the people with the most money or mining equipment. Users with high resources are more compensated than those with less mining equipment. In this case, Aeternity proposes a hybrid system of both Proof-of-Work and Proof-of-Stake, hoping that the two ways of consensus can provide value to everyone.
  • According to the Aeternity team, the way crowdfunding is organized can be safer and more transparent by their “dominant assurance contracts.” These are smart contracts used in fundraising for commercial projects. The crow fund money is locked in and can be split into different funds to back up investors looking for investment return (ROI).
  • ICO Teams can set Certain milestones before conducting crowdfunding in the smart contracts. Once the crowdfunding achieves its set targets, the smart contract will automatically release and allocate the money to the specific details programmed into the smart contract.
  • In addition to setting rules in the smart contracts, multiple methods can verify crowdfunding completion by using the oracle system. If an oracle concludes that the milestone has not been reached, investors will get their investments back with interest.

Aeternity Wallet

Users can store Aeternity coins in multiple wallets.

AE coins are supported by a Trust wallet that is a mobile wallet operated by Binance exchange.

An atomic wallet that is a well know wallet support Aeternity. You can easily store your AE coins on an Atomic wallet.

Base æpp Wallet is an Aeternity blockchain wallet on android, allowing AE coins holders to receive, deposit, and send Aeternity tokens.

Where To Buy Aeternity Coin

If you are interested in Aeternity, you can buy Aeternity Coin on Huobi global, Gate.io, and BKEX. These exchanges allow you to buy Aeternity with USDT.

If you want to buy Aeternity coin with BTC, you can do so on Huobi Global, Gate.io, Okex, Conall, and Hitbtc.

To buy Aeternity with Ethereum, you can go to MXC, OKEX, Gate.io, and Bitalong.

How To Buy Aeternity

To buy Aeternity, go to your favorite exchange, Deposit BTC, ETH, or UST with you want to buy Aeternity.

If you have BTC, select AE/BTC pair. If you have USDT, select AE/USDT pair, and for Ethereum, choose AE/USDT pair.

Go to the trading page of your exchange.

Incase of AE/USDT, enter the AE coin price at which you want to buy the coin. Enter the amount of AE coin and how much AE you want to buy at a specific price, and press the buy button.

The exchange will post your order in the order book. It will show in the open orders until it gets filled. When your order gets filled, you will become the owner of your AE tokens.

How to Withdraw Aeternity Token

To withdraw the Aeternity token, go to the withdrawal page of your exchange.

Enter your AE coin withdrawal address.

Enter the amount of Aeternity tokens you want to withdraw.

Click submit and wait until your withdrawal is processed.

You might have to go to your email to confirm your withdrawal.

If you have enabled two-factor authentication, you have to enter your 2FA code.

Aeternity Price Prediction

Crypto influencers have made many Aeon price predictions on YouTube, Telegram, and Twitter in the past.

Aeternity token (AX) was launched in 2017. AX coin price at the time of launch was near 0.40 USD. In December 2017, AX price made new high and reached 3.10 USD.

But AX price had more heights to gain. When all crypto markets faced a tough time in 2018, Aeternity price made an all-time high, reaching almost 5 USD. Since then, the Aeternity coin price kept falling and reached as low as 0.07 USD in march 2020.

Despite the healthy growth of the cryptocurrency market after march 2020, the Aeternity price fails to grow and is trading at 0.08 USD at the time of writing.

Our Aeternity price prediction for 2021 is $0.08 and $0.16.

AX price prediction for 2022 varies around $0.14 and $0.22.

Aeternity price prediction for 2025 is above $0.95.

These are our predictions, we are not financial advisors, and no one knows where Aeternity price will go. Always do your research before investing in cryptocurrencies.

If you want to invest in Aeternity, only invest what you can afford to lose.

Useful Resource

Aternity Website

Aeternity Forum

Aeternity Forum is a dedicated place for community members to discuss the Aeternity blockchain and their queries. The forum has different categories, topics, and FAQ’s where you can find answers to all of your questions. If you are not able to sort out your problem, you can ask for help. Aeternity forum community members are active, and they can help you with your concerns.

Because of the committed Aeternity forum, members’ participation in other Aeternity social channels is not adequate.

Aeternity Telegram

Aeternity Twitter

Aeternity Reddit:

Aeternity Reddit has 6.4k members. Aeternity Reddit is not active as other subreddits, where the community takes high interest by giving proposals and actively participating in project development. The reason might be that AE price is not catching up with the rest of the crypto market. Investors are frustrated as the AE price goes nowhere despite a sharp cryptocurrency market price increase for over three months.

Aeternity Reddit has no specific rules. There is no minimum karma required for posting, which means that everyone can join Aeternity Reddit and post Aeternity related content.

Aeternity Reddit is not sharp as the post comes at an average of ten days interval. This shows that the community is not interest in Aeternity because of its slow progress.


Aeternity Bitcointalk

Bitcointalk is a public forum where you can discuss all topics on cryptocurrencies. It is a very famous forum. All crypto project and ICO’s are present on Bitcointalk to cover the vast crypto community and let them know about their project.

Aeternity made its presence on bitcointalk in 2016. Aeternity bitcointalk has 314 pages, all discussing Aeternity. Other than discussion, people interested in Aeternity ask questions about the project on Aeternity bitcointalk.

Senior members of bitcointalk often reply to queries of new members regarding Aeternity. But the use of Aeternity bitcointalk has decreased after the launch of the Aeternity forum.

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