The Rise of æternity. How it’s shaping the future in 2024

Key Milestones from the First Half of the year

During Q1 and Q2 of 2024, the Aeternity Foundation has ramped up activities and put a lot of effort into forging new partnerships, securing new exchange and swap listings, as well as developing new features, and upgrading existing ones on the blockchain. All this is being done with the aim of revitalizing and expanding the community while directing the æternity ecosystem the way we all want it to be moving – upward.

The ecosystem has seen notable developments, with a particularly major one being the Ceres upgrade, approved by the community vote and implemented on May 7, 2024 – the most significant update to the blockchain since the Iris hardfork.

This report provides a comprehensive overview of æternity’s growth, technological advancements, and community initiatives throughout the first half of 2024.

æternity Blockchain in Numbers

The æternity blockchain has demonstrated remarkable stability and growth in the first half of 2024.

Notably, the number of active state channels has skyrocketed from 102 to over 504, representing a nearly 400% increase. This surge in state channels indicates a growing adoption of æternity’s scalability solutions.

æternity Market in Numbers

The æternity ecosystem has shown positive market indicators in the first half of 2024, though it’s crucial to remember that short-term price movements don’t determine a project’s value or potential. The true measure of progress lies in the ecosystem’s development and adoption.

The Aeternity Foundation has been focusing on increasing accessibility to the AE coin, as evidenced by the addition of three new exchanges. Details regarding these specific exchange listings will be covered later in this text.

The 50% growth in market capitalization reflects increased interest and investment in the æternity ecosystem. However, the Foundation’s primary focus is on technological advancements, community growth, and real-world applications rather than short-term price movements.

By prioritizing accessibility and ecosystem development, the Aeternity Foundation aims to create long-term value and sustainability for the project.

æternity Mining in Numbers

Another segment in which the æternity ecosystem has shown significant growth and increased participation in mining.

The mining reward increase from 90% to 100% per block is the result of the community’s decision to revise the Mining Block Reward Initiative (BRI).

This change redirects a 10% increase in mining rewards—previously allocated to the Aeternity Foundation—toward promoting greater participation and enhancing security across the network. This adjustment is another commitment to incentivizing network security and decentralization.

The network hash rate has more than doubled, with a 128.63% increase, indicating a substantial rise in computational power dedicated to securing the æternity blockchain. This growth is mirrored by the increase in network difficulty.

For those interested in participating in this thriving ecosystem, the æternity mining page provides comprehensive information on getting started.

æternity Community in Numbers

On social media, the Aeternity Foundation’s X (formerly Twitter) account has seen significant traction, gaining over 24,000 new followers. This growth is complemented by an impressive 400,000 impressions, indicating a wide reach and strong content engagement.

æternity Forum

The æternity Forum, a hub for community discussions and development talks, has experienced more activity compared to the previous year:

Two topics have garnered particular attention of the community:

A blockchain-tracing platform for medical cannabis.
The potential integration of stablecoins like USDT on æternity.

For those curious about these discussions or interested in contributing to the æternity ecosystem, the Forum welcomes new participants to explore and engage with the community.

Community Engagement Campaigns

The Zealy Campaign has been a significant part of æternity’s community engagement efforts and has achieved great results.

QuestN Campaign also saw substantial traction, exceeding initial expectations.

These campaigns have helped increase on-chain activity, growing community participation, and a broader user base. The Foundation is committed to continuing these engagement efforts to stimulate new ideas and foster community growth.

For those interested in participating in future campaigns, it is recommended that you follow the Aeternity Foundation’s social media pages. These platforms serve as primary channels for announcements about upcoming engagement initiatives and community events.

Key Developments

Building on the Ceres upgrade, the æternity ecosystem has expanded its reach and functionality. Key developments also include the AERK Bridge and MetaMask Snap Integration, which is still in progress.

Ceres Upgrade

The Ceres Upgrade, launched on May 7th, brings significant improvements to the æternity protocol, enhancing both usability and performance. The upgrade was implemented smoothly and without any issues.

“I believe Ceres is another important milestone for æternity, laying a solid foundation for the prosperity of its ecosystem. ” – Bigtree.chain, passionate community member

Key improvements include:

Micro-block Gas Limit Calculation Change: More accurate transaction cost calculations based on precise resource usage.
Contract Calls: Simplified interaction with smart contracts using easy-to-remember identifiers.
Generalized Accounts: Enhanced transaction integrity and security for new accounts.
FATE Updates: Improved smart contract flexibility and power, with new functionalities like structured delegation signatures and dynamic array handling.

Additional details about the improvements can be found in the following forum post.

AERK Bridge

The highly anticipated AERK Bridge, connecting the æternity ecosystem with the Ethereum Network, opens up numerous possibilities for developers and users alike. Potential use cases include:

Cross-chain DeFi applications
Seamless asset transfers between æternity and Ethereum
Enhanced liquidity for æternity-based projects

The æternity community is encouraged to try out this bridge. Stay tuned for upcoming initiatives that will reward early adopters and innovative use cases.

The AERK Bridge represents a crucial step in æternity’s interoperability strategy, opening up new possibilities for cross-chain innovation and user accessibility.

Partnerships and Integrations

Strategic collaborations play a vital role in æternity’s growth. These collaborations are carefully chosen to enhance different aspects of the ecosystem.

Key Partnerships Driving æternity’s Growth:

NucleusDAO

This collaboration aims to enhance decentralized governance within the æternity ecosystem. By implementing advanced governance mechanisms, NucleusDAO will help create more efficient and transparent decision-making processes.

This partnership empowers community members, ensuring that platform development aligns closely with user needs and preferences.

Chainspect

Chainspect brings sophisticated analytics tools to the æternity platform, providing advanced blockchain analytics. This integration is crucial for enhancing transparency and offering detailed insights into network activity, transaction volumes, and other key metrics.

By making this data easily accessible and comparable to other leading blockchains, æternity can attract more developers, investors, and users who rely on comprehensive analytics.

HoudiniSwap

The collaboration with HoudiniSwap introduces privacy features to the æternity ecosystem, addressing the growing demand for confidentiality in blockchain transactions.

Image: HoudiniSwap Interface

By enabling anonymous transactions, æternity caters to privacy-conscious users and opens up new use cases, particularly in sectors where confidentiality is paramount.

CVPad

CVPad facilitates project launching and funding within the æternity ecosystem. This collaboration creates a launchpad for new projects, streamlining the process of project initiation and funding.

It provides a structured platform for entrepreneurs and developers to showcase their ideas and secure backing, potentially accelerating the growth of new projects and increasing capital inflow to the ecosystem.

MetaMask Snap Integration

The integration of æternity with MetaMask, currently in progress, will mark a significant milestone. This integration, supported by a grant from ConsenSys for the audit, will join the ranks of other prominent blockchain projects with MetaMask Snaps and allow more than 30 million users to access the æternity blockchain seamlessly.

Key benefits for users:

Seamless access to æternity within the familiar MetaMask interface
Simplified transaction signing and account management
Enhanced interoperability with Ethereum-based applications

The integration will significantly lower the entry barrier for millions of existing MetaMask users.

Planning for The Future

In June 2024, the Aeternity Foundation hosted a strategic retreat at the Crypto Castle. This gathering brought together key stakeholders and developers to assess the current status of the project, discuss the future of æternity, and strategize on the implementation of hyperchains. As a result of this meeting, a new roadmap is being developed and will be shared with the community soon.

Listings and Incentives

æternity has expanded its presence on various exchanges and platforms:

The new listings on Coinstore, HoudiniSwap, and Changelly have contributed to AE’s 50% increase in the average daily trading volume since the beginning of the year.

Additionally, the network’s Mining Block Reward Initiative (BRI) has been revised to redirect a 10% increase in mining rewards toward promoting greater participation and enhancing security across the network.

As æternity continues to build and innovate, user participation and feedback remain crucial. The community is shaping the future of blockchain technology and decentralized applications.

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