October 20, 2020

Aeternity project activated Lima hard fork with new FATE virtual machine

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Ityternity project developing a blockchain protocol for creating decentralized applications and scalable smart contracts, activated Lima hard fork. Hard fork occurred on October 30 at block # 161150.

Aeternity project activated Lima hard fork with new FATE virtual machine

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The main innovations of the Lima hard fork: the FATE virtual machine, an updated application for on-chain voting and the æternity symbolic name system.

FATE Virtual Machine (Fast æternity Transaction Engine)

æternity develops a thick protocol (fatprotocol) with a lot of basic features. You can open the status channel, contact the oracle and register the name in æternity without creating a smart contract. These functions work out of the box.

FATE virtual machine optimized for workwith basic features and smart contracts in Sophia. It allows developers to create applications with high speed and low gas consumption.

Voting of Tokenholders and Miners

Æternity community makes development decisionsnetwork using weighted voting. To do this, æternity uses the management æpp application. Users vote in it themselves or delegate their votes to network addresses.

Æternity developers updated management æpp and optimized it for mobile devices.

In addition, the æternity team implemented a signaling mechanism for miners. Miners can set a label and show if the network update is supported.

Æternity hopes that innovations will make voting more efficient and avoid future network separation.

“Since the creation of æternity we have wantedinvolve in the management of all ecosystem participants: token holders, users, miners and developers. Hard fork Lima is another step towards our mission ”, - commented the founder of æternity, Yanislav Malakhov.

Именternity Naming System

The æternity community tested the .test name system over the course of the year. In Lima's hard fork, it was replaced with the final version - .chain.

The .chain name system allows you to map symbolic names to addresses on the æternity network and beyond.

The name system is built into the ityternity protocol. This means that names can be used in smart contracts to access user accounts, oracles, and state channels.

Æternity emphasized that Lima hard forkcompleted the migration of project tokens. Migration took place in four stages. Its purpose is the transfer of AE tokens of the ERC20 standard from the Ethereum blockchain to the main æternity network.

æternity is a blockchain platform for creating decentralized applications and scalable smart contracts.

The project solves the problem of scaling withtechnology p2p state channels (state channels). Operations between users are processed in separate channels, and trusted nodes perform heavy calculations. The æternity main blockchain operates as an archive, which is accessed in case of disagreement.

Æternity smart contracts interact with the outside world with the help of oracles - special nodes that receive and verify information from outside the blockchain.

ForkLog previously reported that aeternity blockchain is being used to track cannabis shipments in Uruguay.