Æternity’s core development team shares details of its Lima blockchain hard fork software changes as the blockchain platform looks to compete with Ethereum by improving its network naming system, governance and virtual machines.
Æternity, an open-source blockchain platform for building a decentralized application has announced the final version of its hard fork software LIMA. The latest software essentially put power in the hand of miners where the latest software promises to improve Virtual Machine, governance, and naming system.
Yanislav Malahov, Founder of æternity commenting on the latest development said,
“Æternity grew from a team of core developers to an ecosystem built by its community, for its community, which makes this protocol upgrade a step forward in the project’s mission. The launch of the on-chain governance system also marks a new era for æternity blockchain. In addition, the FATE VM and improved state channels are part of the æternity community’s ongoing goal to create a user-friendly blockchain platform for building decentralized applications that scale.”
With the new upgrade in position many new services like the æternity naming system, the chain where names will be auctioned and each name can be mapped to any address on the blockchain. The platform makes great use of smart contracts and unlike other blockchain networks, it does not rely on any second-layer solutions.
The press release announcing the launch of LIMA also claimed that Æternity is one of the most active developer community which measures the growth of the network by the code activity. The update also introduced a community voting system that allows the participation of all the community members in special decision making, thus making it truly decentralized.
The press release also claimed that the newly improved virtual machine can outperform any other similar machines on any blockchain and even consumes 10x less gas for transaction verification.