Five Years of æternity Mainnet!

Celebrating half a decade on-chain

Today is an important day for the æternity community. The æternity blockchain mainnet has officially been online for 5 years!

That’s over 59 million transactions processed, over 860K blocks mined, more than 10K smart contracts executed, over 6K Github commits, and countless users interacting on the blockchain. And that’s just the beginning!

Now is an opportune moment to reflect on the significant milestones that have marked our journey so far. Founded in 2016 by blockchain pioneers and visionaries, æternity set out with the goal of creating a fairer Internet supported by scalable, open-source, and decentralized infrastructure. The launch of the æternity mainnet on November 27th, 2018, marked the beginning of æternity’s direct contribution to the global decentralized ecosystem and community, driven to achieve advanced cryptographic innovation.

Celebrating Key Moments and Achievements

The Beginning of the æternity Mainnet

The Roma Release, as the initial mainnet launch is known, signaled the beginning of æternity’s mission to revolutionize the blockchain space. It was a moment of triumph, a culmination of hard work and dedication by the æternity team. It quickly grew from a team to a community, and gradually, the most important aspects of an efficient blockchain open to everyone started taking shape.

Embracing Decentralized Governance

A defining feature of æternity is its commitment to decentralized governance. This approach has been vital in shaping the blockchain’s development, ensuring that the community’s voice is always heard and valued. Regular voting by AE coin holders on changes to the software system exemplifies æternity’s democratic ethos. Decentralized governance has been a part of the decision-making process in the æternity ecosystem from very early on and will always continue to be.

Significant Protocol Upgrades and Hardforks

Throughout its existence, æternity blockchain has undergone a series of hardforks, each marking a significant leap in its technological advancement. Among these, the Iris hardfork stands out as a monumental update, enhancing the core protocol’s functionality and performance. This hardfork not only improved the efficiency and security of the network but also optimized key features like State Channels for off-chain smart contract execution and the Fast æternity Transaction Engine (FATE VM), which minimizes errors through advanced type checking. Additionally, it bolstered the Sophia smart contract language, renowned for its precision and security. These hardforks have been instrumental in shaping æternity into a robust, scalable, and secure blockchain platform, adept at handling diverse applications and use cases, such as DeFi, NFT, asset tokenization, and many other.

In addition to the transformative Iris, æternity blockchain has experienced other crucial hardforks that have significantly shaped its development. The Lima upgrade was a standout, revolutionizing the blockchain’s governance to be more community-driven and democratic. The Minerva release focused on optimizing network efficiency and stability, enhancing transaction speeds and overall performance. Fortuna, another important hardfork, brought advancements to State Channels, improving their functionality and reliability for dApp developers.

With the AEX-9 token standard in place and the first æternity-based DEX — Superhero DEX launched, the æternity blockchain is incredibly suitable for DeFi and ready for the demand that’s expected to explode in 2024 and beyond.

Furthermore, as Hyperchains are on the horizon, they are set to empower users to establish their own secure, private, or public blockchains without the hefty investment typically associated with mining equipment and other associated risks. This innovation will pave the way for limitless scalability at an affordable cost, heralding a new era in blockchain technology.

Anticipating a Future of Innovation

As æternity looks ahead, innovation remains at its core, with a commitment to enhancing its platform through user-friendly features and robust development tools. The goal is not merely to maintain its pioneering status but to expand its influence, particularly in emerging domains like decentralized finance (DeFi), Zero Knowledge applications, and digital asset management. And with the advent of Hyperchains, new horizons beckon, promising even greater scalability and vastly expanded possibilities for æternity.

Fostering a Culture of Collaboration

In the onward journey, the spirit of collaboration and community remains central to æternity’s ethos. The next phase is a collective endeavor to create a trailblazing blockchain ecosystem that is both technologically advanced and inclusive. With the several different aspects of the planned greater Superhero ecosystem, both deployed and in development, the æcosystem will offer a great combination of decentralized applications to its users. This will provide fertile ground for further expansion into specific segments of web3, such as decentralized social media, DAOs, asset tokenization, and numerous DeFi applications.

The five-year milestone of æternity’s mainnet signifies a journey marked by innovation, community, and a shared vision for a fairer digital future. The future of æternity looks brighter than ever as we celebrate this 5-year landmark. With its committed community, robust technology, and a roadmap filled with exciting developments, æternity has barely scratched the surface of what is to come.

æternity Blog