Update

Celebrating Six Years of æternity Mainnet: The Biggest Year Yet!

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By admin
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November 29, 2024
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10 min read
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In a year of broken records and expanded possibilities, æternity has achieved its most significant milestones to date.

The first block on æternity's mainnet in 2018 launched a new era in decentralized computing, processing over 65 million transactions and spawning an ecosystem that is now quickly gaining momentum as years of development and foundational efforts are finally bearing fruit.

One year ago, in Q4 2023, a significant shift in direction occurred when æternity’s co-founder, Nikola Stojanow, took charge of the Aeternity Foundation. Nikola focused the Foundation's efforts on channeling the majority of projects, tools, and middleware through its operations to revive and strengthen the æternity blockchain ecosystem. Special emphasis was placed on enhancing transparency and accountability within the Foundation and its processes. As he mentioned in the recent X Spaces with BitcoinOS, his priorities included enhancing community engagement and expansion, fostering the development of new dApps and tools, driving meaningful collaborations, improving interoperability with other blockchains, and increasing presence at global blockchain and technology events. Most importantly, æternity is finally establishing a robust dApp ecosystem where users can access all the essential components expected from any leading Layer 1 blockchain, such as a wallet, bridge, DEX, DAOs, and other critical pillars of success and utility.
The results of these ongoing efforts are already starting to show through some important metrics and milestones that speak for themselves: the development and roll-out of the Ceres upgrade, a 3,500% growth in the use of state channels, a significant growth in both wallet downloads and transaction volume, the integration with BitcoinOS and, most significantly, the launch of Hyperchains connecting institutional needs with true decentralization.

All the years of development and eagerness from the amazing æcommunity are paying off. æternity is now earning recognition and respect from the wider Web3 community and major players in the blockchain industry and beyond.

Traditional institutions and enterprises are now adopting blockchain, and they are looking for reliable technology that has stood the test of time, offers advanced tools for scaling and privacy, includes compliance with regulations, and provides solid connectivity with the world outside of blockchain as well as with other blockchains. With æternity's innovations in state channels, oracles, the AENS naming system, and most of all, Hyperchains, æternity is ready to offer an answer to these needs. What started as an ideal for scalability, designed and developed for years with the future in mind, now stands as essential Web3 infrastructure, solving future challenges before they have even emerged.

Welcome Hyperchains: A New Era for Blockchain

After five years of development, Hyperchains arrived as æternity's most significant post-mainnet innovation, fundamentally improving the way individuals and enterprises can adopt and implement blockchain technology.

Announced with a presentation by Nikola Stojanow at this year's Web Summit in Lisbon to a large, predominantly Web2 audience, Hyperchains aim to redefine blockchain accessibility by removing the barriers of entry, cost,  and expertise necessary for blockchain utilization. Enterprises and individuals can quickly spin up secure, scalable blockchains without technical expertise, paving the way for practical, real-world adoption.

What sets Hyperchains apart is their hybrid security model, combining efficient Proof of Stake processing with the unmatched security of major Proof of Work networks like Bitcoin and æternity Blockchain..

As Nikola Stojanow explains, "Hyperchains can periodically sync with Bitcoin, allowing it to serve as a secured layer 1 for your blockchain. This isn’t an L2 scaling solution - it creates an L1 blockchain secured by another L1 blockchain." 

This ensures data integrity and confidentiality while maintaining operational flexibility. Hyperchains provide the tools to build and grow blockchain solutions tailored to any purpose with unparalleled ease and security. Visit the official Hyperchains webpage to learn more about its potential and future developments. 

Ceres Upgrade: Major Protocol Upgrade

The Ceres upgrade implemented on May 7, 2024, marked a significant advancement for æternity. Following extensive community discussion and voting, this upgrade brought several key improvements:

  • Enhanced micro-block gas limit calculations
  • Simplified smart contract interactions
  • Introduction of generalized accounts for improved transaction integrity
  • Advanced type checking in the FATE Virtual Machine

The community actively shaped these changes through the governance process. After thorough testing and debate, AE holders voted to approve the upgrade, which included increasing mining rewards to 100% per block.

This update exemplifies æternity's approach to protocol development: community-driven decisions leading to practical technological improvements. The success of Ceres contributed to æternity's broader growth in 2024, coinciding with doubled network security and increased development activity.

Expanding the Ecosystem’s Interoperability

The AERK Bridge

June 2024 marked an important moment in æternity's evolution with the launch of the AERK Bridge. Created in collaboration with Acurast, the bridge is a sophisticated infrastructure enabling seamless asset and data movement between æternity and the Ethereum ecosystem. Through secure enclaves and cryptographic integrity, the bridge eliminates the traditional risks associated with cross-chain transfers while unlocking unprecedented opportunities for innovation.

The AERK Bridge, developed with Acurast, enables seamless asset transfers between æternity and Ethereum through secure enclaves. This integration establishes a stablecoin standard on æternity and makes all ERC tokens transferable across chains. Users benefit from Ethereum's asset variety combined with æternity's lower transaction costs, while real-time price-feed oracles and enhanced security protocols ensure reliable cross-chain operations.

BitcoinOS Integration

æternity's integration with BitcoinOS in November 2024 brings scalability and smart contracts to Bitcoin's $1.5 trillion ecosystem. This integration merges two strong networks - enabling Bitcoin users to access DeFi applications through æternity's advanced features like Hyperchains, FATE Virtual Machine, and state channels.

As Edan Yago explains in the recent X Space discussion, "Bitcoin OS platform is part of Bitcoin. It's one way to think about it. It's the first permissionless upgrade to Bitcoin. And what it does is it provides an operating system to Bitcoin, which allows Bitcoin to do everything."

Following Cardano's successful BitcoinOS integration, æternity adds even greater capabilities through its Hyperchains technology, creating a powerful fusion of Bitcoin's security with æternity's advanced features.

Nikola Stojanow highlighted during the discussion, "The most significant opportunity here is enabling cross-chain DeFi and seamless liquidity flows. This capability will transform both the æternity-BitcoinOS integration and the broader blockchain ecosystem."

Through BitcoinOS, Bitcoin holders can now put their assets to work in ways previously impossible. The integration creates a trustless setup that eliminates the need for intermediaries and complex bridging mechanisms. 

Bitcoin users gain access to æternity's full suite of tools—including the FATE Virtual Machine, state channels, and integrated oracles—while maintaining the security and simplicity they trust.

The combination of BitcoinOS integration and Hyperchains creates unprecedented opportunities for institutional Bitcoin holders. Enterprises can now engage in institutional-grade lending, real-time cross-border transactions, and tokenized asset management, all secured by Bitcoin's network while leveraging æternity's scalability and smart contract capabilities.

Supporting Developers and Innovation

The past year marked an unprecedented push to expand æternity's developer ecosystem, beginning with the CryptoCastle HackChallenges in February. Supported by industry leaders like Acurast and TUM VentureLabs, these challenges transformed ideas into working prototypes, offering substantial rewards while building a community of skilled developers.

From Universities to Global Stages

Early 2024 began with the CryptoCastle HackChallenge and æternity Uni Hack at TUM Blockchain Conference, bringing together AI engineers and blockchain developers in Munich. followed in October with a $23,000 reward pool, uniting Erlang and Elixir communities with blockchain technology.

Projects showcased æternity's features through AI chatbots, oracles, and state channels, resulting in DAO solutions, DeFi applications, and innovative uses of the FATE Virtual Machine.

Comprehensive Developer Support

Understanding that innovation requires proper tools, æternity provides developers with an extensive toolkit:

  • The AEstudio Web IDE for rapid prototyping
  • Multiple SDKs spanning JavaScript, Python, and Go
  • The Sophia Extension for VSCode enhancing the development experience
  • Comprehensive documentation covering everything from basic protocol architecture to advanced features
  • Revamped Superhero DEX, simplifying swaps within the AEX token standard, but also compatible with the inter-chain compatibility bridges

Nurturing Growth Through Foundation Grants

Through Aeternity Foundation’s grants program, promising projects receive the resources needed to move from concept to reality, thus expanding the ecosystem and adding utility. 

This support has already catalyzed several success stories, including NucleusDAO's successful launch in August 2024, demonstrating the tangible impact of the Foundation's support structure. For those looking to bring transformative ideas to life, the Foundation offers clear pathways to support and guidance.

Learn more about applying for a grant and make your vision a reality.

Strengthening the Community

In 2024, æternity's community expanded significantly, with the Aeternity Foundation X account gaining over 30,000 new followers and generating over 1,000,000 impressions. The æternity Forum saw substantial growth, with replies increasing by 27.59% and views by 22.92% between January and October.

Q1 2024's Zealy and QuestN campaigns resulted in 8,000 new Superhero wallets, 1,000 community feedback submissions, and engagement from over 10,000 members.

Global Presence: 2024 Events

Throughout 2024, æternity established a significant presence at the world's premier blockchain events, sharing technological breakthroughs and building strategic collaborations across continents.

Major Conference Participation

WebSummit Portugal

At Web Summit, one of the world's largest tech conferences, æternity co-founder Nikola Stojanow officially announced the launch of Hyperchains. 

This major milestone introduced æternity's most innovative solution to a global audience, marking a new era in blockchain accessibility and adoption.

TOKEN 2049: Global Presence, Local Impact

As a Silver Sponsor at TOKEN2049, æternity showcased its advancements to over 20,000 attendees. Nikola Stojanow delivered insights on blockchain scalability, resonating with industry leaders and investors.

Korea Blockchain Week

The Foundation participated in the AI Crypto Summit at Korea Blockchain Week, engaging in discussions on AI integrations with blockchain technology.

Istanbul Blockchain Week

During Istanbul Blockchain Week, æternity led discussions on the future of digital payments.

CV Summit: Encouraging Industry Leadership

At CV Summit 2024, æternity's leadership shared insights from years of blockchain development, strengthening industry partnerships and showcasing the platform's innovative trajectory.

Strategic Collaborations and Integrations

2024 brought key partnerships that expanded æternity's capabilities across governance, privacy, analytics, and cross-chain functionality.

Improving Decentralized Governance

The collaboration with NucleusDAO marked a significant leap forward in decentralized governance. Launched in August 2024, the project introduced advanced governance mechanisms to enhance decentralized decision-making.

Enhanced Analytics with Chainspect

The integration with Chainspect brought sophisticated blockchain analytics to the æternity ecosystem, elevating transparency to new heights. This collaboration equipped users and developers with comprehensive tools to analyze network activity, transaction volumes, and other critical metrics.

Privacy Innovation through HoudiniSwap

May 2024 saw the integration with Houdini Swap, introducing advanced privacy features to the æternity ecosystem. 

Accelerating Growth with CVPad

The strategic alliance with CVPad created a launchpad for innovative projects within the æternity ecosystem. This collaboration streamlined the process of project initiation and funding, providing entrepreneurs and developers.

Ecosystem Synergy

These collaborations represent more than individual integrations—they form a cohesive strategy to strengthen every aspect of the æternity ecosystem:

Together, they create a comprehensive framework that supports both current users and attracts new participants to the platform.

Market Growth and Increased Accessibility

2024 was a transformative year for æternity's market presence. Strategic exchange listings—including Coinstore in March, followed by Hotcoin Global and CoinW—expanded access to the AE coin, welcoming new participants into the ecosystem.

The combination of increased mining rewards and expanding market access created a virtuous cycle of participation. New miners were drawn to the platform's improved economics, while traders and investors benefited from enhanced liquidity and more diverse trading options. This synergy contributed to a 50% growth in market capitalization compared the same period in 2023, reflecting growing confidence in æternity's long-term vision.

Additionally, the AE coin experienced significant growth over the past year. Compared to this time last year, the price of AE increased by 58%, reaching a yearly high of $0.063 in April. This upward trend showcases the AE coin's strengthening position in the blockchain industry.

Driving Market Momentum

The impact of these expansions has been substantial, with average daily trading volume surging since the beginning of the year. This growth isn't just about numbers—it reflects increasing global recognition of æternity's technological achievements and growing ecosystem. The market presence has been further strengthened by integrations with specialized platforms like HoudiniSwap and Changelly, offering users diverse options for accessing and utilizing AE coins.

Everything is Coming Together: æternity’s Breakthrough Moment

After years of innovation and relentless effort, æternity’s vision is finally becoming reality. The successful launch of Hyperchains, the BitcoinOS integration, and the groundbreaking Ceres upgrade have turned 2024 into a defining year for the project. With its technology now delivering on its promise and a rejuvenated ecosystem, æternity is positioned to lead the charge in scalable, enterprise-ready blockchain solutions.

Gratitude and Recognition

To developers, who have contributed over 10,000 GitHub commits and brought countless innovations to life—thank you. To miners, whose commitment has doubled network security—your dedication strengthens the foundation. To partners, from NucleusDAO to BitcoinOS, who share the vision of a more connected blockchain future—your collaboration amplifies the impact. And to every community member who has participated in governance, engaged in forums, or simply believed in the vision—you are the heart of æternity.

Join Us in Shaping the Future

The next chapter of our story awaits, and you're invited to help write it.

Connect with us through GitHub, our Forum, X, YouTube, LinkedIn, or Telegram. Be part of a community that's not just witnessing the future of blockchain technology—we're creating it together.

The best is yet to come. Stay tuned.

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