Crypto Academy

æternity FAQ

This section contains frequently asked questions about the æternity ecosystem.

Q. How can I securely store my mainnet æternity?

A. æternity is currently supported on the Ledger Nano S and Ledger Nano X hardware wallets (Ledger Nano wallets comparison guide). Another solution is to use AirGap. You can also use the mobile base æpp, where you can create a wallet in just seconds and start sending & receiving transactions without having to download any additional software.

Q. Where can I trade æternity?

A. Binance currently supports trading of æternity’s mainnet AE tokens! You can get started trading immediately.

Q. Why is æternity migrating away from the ERC-20 AE token?

A. ERC-20 is a technical token standard for smart contracts that are deployed on the Ethereum blockchain. In the early days, the Ethereum blockchain was used issue æternity’s ERC-20 AE tokens to bootstrap the æternity project. Now, æternity is in the process of migrating to its own blockchain in order to realize all the key features such as state channels, Bitcoin-NG, oracles, liquid democracy governance, etc.

Q. Why is the migration to mainnet broken down into different phases?

A. It is important to accommodate as many token holders to migrate their funds over a long period of time. This inclusive method is crucial because if anyone misses the deadline, their funds may be lost forever. æternity has designed a very generous migration process to allow for migration over to mainnet through several phases distributed over a long timeframe. Migration after the specific phases is also possible, more specific details will be presented at a later date. For more information, please visit the Token Migration section.

Q. Why are there hard forks?

A. Hard forks are currently being issued in order to perform network upgrades to the æternity blockchain.

Q. How is æternity highly efficient?

A. æternity employs Bitcoin-NG instead of traditional blockchains where you have to wait for a block to be fully mined.

Q. How does æternity solve the key issue of scalability on blockchains?

A. State channels are a native feature integrated in the æternity blockchain, hence it is a Layer 1 approach. Unlike traditional blockchains, state channels either do not exist at all or are being implemented as a Layer 2 solution on top of the already existing blockchain.

Q. Is there an airdrop for æternity?

A. No, there is no airdrop.