The vision behind æternity materialized into reality in Q3 2024. This quarter marked a fundamental shift in the platform's evolution, driven by three key achievements: the successful launch of the Ceres upgrade, the deployment of the AERK Bridge connecting to the Ethereum ecosystem, and perhaps most significantly, surpassing the millionth block.
But numbers tell only part of the story. What truly defined this quarter was seeing the technology put to real use - from enterprises deploying production solutions to developers building innovative applications at an unprecedented scale.
This report highlights the key achievements and advancements during Q3, demonstrating æternity's ongoing commitment to innovation and decentralization.
æternity Blockchain in Numbers
Q3 2024 witnessed substantial growth across key metrics of the æternity blockchain. The growth metrics reveal a compelling narrative:
| METRIC | JULY | OCTOBER | INCREASE |
| Max TPS | 147.26 | 147.26 | 100% Stable & Operational |
| Active State Channels | 504+ | 3,688+ | 631.75%, reaching the point of greater adoption |
| Block Height | 978,000 | 1,015,597+ | 37,597 blocks processed, passing the 1,000,000 threshold |
| Smart Contracts | 11,444 | 11,520+ | 76 new smart contracts, a 2.44% increase |
| Supply Burned | 512,119 AE | 524,622 AE | Supply reduced by 12,503 AE |
Key metrics across the network show significant improvements, indicating increased adoption and utility of the platform.
Most notably, the number of active state channels has seen an exponential increase, far surpassing previous quarters. The jump from 504 to 3,688 active state channels represents potentially thousands of new users and developers choosing æternity for high-performance needs. It's a fundamental shift in how businesses and developers are approaching blockchain scalability.
The million-block milestone deserves special mention. While impressive numerically, what it really represents is eight years of uninterrupted service, processing millions of transactions without a single major incident. In an industry where downtime and network issues make headlines, this level of reliability speaks volumes.
The smart contract and AENS metrics show modest but meaningful growth, telling an important story about sustainable, organic adoption. Suggesting businesses and developers are building real solutions, not speculative applications.
Market Performance and AE Coin Utility
While the æternity Foundation prioritizes long-term value and technological advancement, Q3 reflected the broader cryptocurrency market conditions.
Like many projects in the space, æternity has been impacted by the recent market downturn. However, it's important to note that the price of AE, like all cryptocurrencies, fluctuates daily.
The current price has normalized within the context of overall market trends, and such fluctuations are typical in the cryptocurrency ecosystem.
| METRIC | JULY | OCTOBER | CHANGE |
| Price | $0.027 | $0.024 | $0.003 |
| Exchanges | 8 | 8 | No change |
| Market Cap | ~$12M | ~$9.1M | ~2.9M |
Despite these market dynamics, the number of exchanges listing AE has remained stable at 8.
The Aeternity Foundation is actively working on expanding the number of exchanges, engaging with new platforms to broaden AE's accessibility and liquidity.
It's crucial to understand that short-term market fluctuations do not diminish æternity's inherent value or the progress of its ecosystem.
The Foundation remains focused on technological advancements and real-world applications that contribute to the project's long-term success.
Efforts to enhance the utility of the AE coin continued throughout Q3, with new integrations and partnerships further expanding its use cases.
Details on these developments, including new partnerships and integrations that enhance AE's utility, will be elaborated on in the subsequent sections.
New Opportunities for æternity Miners
The decision to maintain the 100% mining reward per block continues to provide a strong incentive for participation and network security.
| METRIC | JULY | OCTOBER | CHANGE |
| Mining Reward | 100% Per Block | 100% Per Block | No change |
| Network Hashrate | 26.50 KGps | 15.92 KGps | Decreased by 10.58 KGps |
| Miners Online | 82 | 77 | Decreased by 5 |
| Workers Online | 340 | 244 | Decreased by 96 |
The decrease in network hashrate from 26.50 KGps to 15.92 KGps, along with the slight reduction in miners and workers online, has created an attractive opportunity for new and existing miners.
For anyone interested in participating in the æternity ecosystem, this is an ideal time to start mining or increase mining efforts, as the potential for earning rewards has improved.
The current state of the network offers a more accessible entry point for new miners, potentially leading to increased decentralization over time as more diverse participants join the mining pool.
For those interested in taking advantage of the opportunity, the æternity mining page continues to provide comprehensive information on getting started.
Community Growth and Engagement
The third quarter of 2024 witnessed substantial community engagement within the æternity ecosystem, with a particular emphasis on global events and conferences.
TOKEN2049
A highlight of the quarter was æternity's participation as a Silver Sponsor at TOKEN2049 in Singapore, a premier event that attracted over 20,000 attendees and top-tier blockchain innovators.
Foundation Chairman Nikola Stojanow took center stage, delivering a compelling address on the future of blockchain scalability, comparing Layer 1 and Layer 2 solutions.
Blockchain Week Istanbul
The Foundation's global outreach continued at Istanbul Blockchain Week, where Stojanow participated in a significant panel discussion on the future of digital payments.
Korea Blockchain Week
Further expanding its international presence, æternity made a notable impact at Korea Blockchain Week.
During the AI Crypto Summit, Stojanow contributed valuable perspectives on the role of Layer One applications and decentralized storage in DeAI. He also moderated a forward-looking session exploring the rise of autonomous agents in both DeFi and CeFi sectors.
CV Summit 2024
The Foundation's engagement extended to the CV Summit 2024, where Stojanow joined a panel of industry veterans to discuss a decade of decentralized innovation. Additionally, the sponsorship of IstanHack 2024 during Istanbul Blockchain Week demonstrated æternity's commitment to fostering new talent and ideas within the blockchain space.
Social Media
On the social media front, the Foundation maintained an active presence on X, generating substantial engagement through regular updates and community interactions.
In Q3 of 2024, æternity garnered over 150,000 impressions. The posts received more than 2,000 likes, 500 retweets, 600 replies, suggesting an active and engaged community.
The digital outreach was complemented by targeted community initiatives, including the Zealy and QuestN campaigns, which successfully boosted participation and on-chain activity.
CodeBeam Hackathon
Looking ahead, the Foundation announced the Code Beam æternity Hackathon, scheduled for October. The CodeBeam event aims to attract developers from the Erlang and Elixir communities, offering substantial prizes and the opportunity to contribute to the æternity platform.
The æternity Forum
During Q3 2024, the æternity Forum continued to be a vital hub for discussion, collaboration, and development within the ecosystem. From January to October 2024, the forum saw notable growth across key engagement metrics.
| Metric | Jan-Jul 2024 | Jan-Oct 2024 | INCREASE |
| Replies | 511 | 652 | 27.59% |
| Views | 28,800 | 35,400 | 22.92% |
| Topics Created | 71 | 86 | 21.13% |
The 27.59% increase in replies demonstrates growing community engagement, as more users are actively contributing to discussions.
The forum also experienced a significant 22.92% increase in views, indicating that the content being shared resonates with a broader audience.
The creation of 86 new topics between January and October, a 21.13% increase from the first half of the year.
Discussions ranged from technical challenges to suggestions for expanding æternity’s capabilities, particularly around the Ceres upgrade and DeFi features.
The rise in participation shows the forum’s importance as a platform for exchanging ideas and troubleshooting development challenges.
Development Updates
The third quarter of 2024 saw significant technological advancements for the æternity blockchain, with several key developments enhancing its functionality, scalability, and user experience:
State Channels Growth
The network witnessed a remarkable increase in active state channels, growing from 504+ to 3,688+, indicating strong adoption of æternity's scalability solutions.
æScan Update
A comprehensive update to æScan was rolled out, making it easier than ever to explore the æternity network. The update included numerous bug fixes, UI improvements, and SDK upgrades to support Ceres on Testnet.
Superhero Wallet Enhancements
The native wallet saw substantial improvements, including Ethereum account management, ERC-20 token support, migration to Chrome extension manifest v3, and various UI/UX enhancements, significantly improving the user experience.
The Superhero Wallet numbers tell an equally compelling story through its adoption metrics:
- Google Play: 1,297% growth in 2024
- App Store: 58% increase since January
- Chrome Store: 206% year-over-year growth
These numbers reflect more than just downloads - they represent new users actively engaging with blockchain technology, many for the first time.
Partnerships and Integrations
The expansion of æternity's ecosystem in Q3 brought strategic relationships that extend far beyond traditional blockchain boundaries:
Ningbo Wutong Talent Development Center partnership opens doors to enterprise adoption in Asia's largest market. This isn't just about technology transfer - it's about creating practical blockchain applications for real business challenges.
NucleusDAO collaboration continues to represent a significant step in decentralized governance, particularly in emerging markets. The African-based initiative has already launched successful DAOs, demonstrating the practical application of blockchain in community organization.
Looking Ahead - Hyperchains and Beyond
As Q3 comes to a close, it’s clear that æternity’s momentum is only just beginning. The foundations laid during this quarter set the stage for even more significant advancements in the months ahead.
With major technological milestones on the horizon, Q4 promises to be a period of unparalleled growth and innovation for the platform.
Without revealing too much just yet, expect game-changing developments that will further solidify æternity as a leader in enterprise blockchain solutions.
New features are in the works that will redefine scalability and open up entirely new possibilities for both businesses and developers. The best is still ahead, and exciting updates will soon be unveiled.
æternity will also be showcased at the upcoming Web Summit in Portugal, one of the largest technology conferences in the world.
This will be a key moment to highlight the next phase of æternity’s evolution to a global audience of innovators and thought leaders. Stay tuned for more updates as Q4 unfolds, revealing what’s next for the platform.
In Conclusion
Q3 2024 represented another period of substantial growth and development for the æternity ecosystem.
The network experienced notable increases in active state channels, total transactions, and smart contract deployments.
Community engagement initiatives, strategic partnerships, and consistent efforts to enhance exchange accessibility have all contributed to æternity’s expanding presence in the blockchain space.
As the development of key features progresses and the focus on enterprise blockchain solutions sharpens, æternity is positioned to maintain its upward trajectory of innovation and adoption in the quarters ahead.
The foundation set in Q3 has established a strong platform for what promises to be a historic Q4.
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