æternity is a public, open-source blockchain protocol that enables a platform for next-generation decentralized applications with high scalability. Its core components are written in the functional programming language Erlang and its smart contract language - Sophia - is also functional. æternity has a stellar team of developers including Robert Virding - co-creator of Erlang, John Hughes - co-designer of Haskell, and Ulf Norell - co-designer of the Agda programming language for formal verification.
æternity incorporates the Bitcoin-NG consensus algorithm developed by academics from Cornell University and uses the Cuckoo Cycle mining algorithm for Sybil attack protection.
AE tokens, the native cryptocurrency of the æternity platform, is used for both - an economic unit of account and as ballots in the community-driven on-chain governance votes.