Aeternity is a new smart contract platform and it creates direct competition to Ethereum. Its goal is to improve smart contact instruments available at the moment by implementing new features to this technology. Some of these features are: Futarchy-based governance mechanism, which will add elements of prediction markets to this system, smart contracts execution based on state channels principles (will increase privacy level of performed transactions) and decentralized oracles – a method to bring external data into the
blockchain. In addition, Aeternity comes with an innovating hashing algorithm – “Cuckoo Cycle” by Tromp, which represents a variation of proof-of-work technique.