transaction fees</strong></a> associated with data storage and recovery.</li>\n</ul>\n<h2>What Is Arweave?</h2>\n<p><strong>Arweave</strong> is a new type of decentralized storage that uses innovative technologies including blockweave, permaweb, and Proof of Access (PoA) to allow users to <strong>store data indefinitely</strong>. Blockweave and PoA are the core parts of this network.</p>\n<p>Blockweave stores both transactional and data information, unlike <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchains that are often used to develop crypto projects. Besides, there is another difference in terms of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-block/">block connection between these two. In a blockchain, each block connects to the previous one while in a blockweave, a previous block is connected to a randomly selected block (a recall block).</p>\n<p>Talking about PoA, it is an alternative to the standard blockchain consensus mechanism. Because of it, Arweave miners don’t need to keep all blocks in their storage which results in <strong>decreased electricity consumption</strong>.</p>\n<p>Permaweb, a layer created on top of Arweave, is another component of this network. Permaweb is the storehouse for all decentralized apps, so it's also entirely <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralization/">decentralized./nIt might seem that <strong>Arweave is a complicated mechanism</strong>. However, all of the complicated processes are only on its back-end. Its front-end, which is intuitively designed <strong>with the user in mind</strong>, is what makes it an easy-to-use platform. All you have to do is download an Arweave browser extension to store website pages on the network.</p>\n<p>Besides, one of the main features of Arweave is its <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-immutable/">immutability <strong>in consideration of data storage </strong>on the network. Since the applications are permanent, immutability can be found in every area. Even the developers don’t have the ability to alter the rules. So, Arweave is definitely an immutable and decentralized network.</p>","level":"medium","meta_title":"What is AR Token (Arweave)? Definition & Meaning | Crypto Wiki","meta_description":"AR Token (Arweave) meaning: AR Token (Arweave) - AR Token – a native token of Arweave.","meta_keywords":null,"language":"en","created_at":"2022-04-05T09:00:59.000000Z","updated_at":"2022-05-13T14:32:24.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-ar-token-arweave"},"prevSection":{"id":833,"original_id":null,"author_id":42,"translator_id":null,"title":"What is Accounting Token?","slug":"what-is-accounting-token","section":"A","keyword":"Accounting Token","status":"published","definition":"a tokenized credit or debit entry (IOU/UOM) on a distributed ledger.","content":"<p>Accounting tokens, like any other <strong>spreadsheet-based accounting system</strong>, are tokenized credit or debit entries (IOU/UOM) on a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-distributed-ledger/">distributed ledger</strong></a>. They are a great alternative to <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-stablecoin/">stablecoins, which are a nightmare for regulators since they act like cash and <strong>can be anonymously used anywhere</strong>. Therefore, stablecoins are treated like the financial products they resemble and are heavily regulated in many jurisdictions.</p>\n<p>Unlike stablecoins, accounting tokens are not backed by <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-fiat/">fiat money</strong></a>. They are only used for accounting purposes and they <strong>represent the amount of money</strong> that a token holder has. Therefore, they can’t be treated as a financial product.</p>\n<p>These tokens are great when there is a limited number of settlement partners. In fact, if the number of participants is small enough, the entire procedure can be completed on the blockchain using the token's <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contract</strong></a>.</p>\n<p>Besides, accounting tokens are practically like coupons because they don’t necessarily represent a currency, they can also represent goods or services. Though, unlike traditional coupons, they represent an equal amount of the accounted value of these goods or services.</p>\n<p>Accounting tokens are <strong>really secure and compliant</strong>, thanks to the nature of blockchain technology. Businesses can limit potential token holders by adopting a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-know-your-customer-kyc/">KYC/AML process, adding documentation, and keeping the entire process transparent on a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-public-blockchain/">public blockchain</strong></strong></a>.</p>","level":"easy","meta_title":"What is Accounting Token? Definition & Meaning | Crypto Wiki","meta_description":"Accounting Token meaning: Accounting Token - a tokenized credit or debit entry (IOU/UOM) on a distributed ledger.","meta_keywords":null,"language":"en","created_at":"2022-04-05T06:39:30.000000Z","updated_at":"2022-05-13T14:32:24.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-accounting-token"},"currentChapter":"A","currentSection":"what-is-aeternity-blockchain","chapterTitle":"A","readingLevel":"medium"},"url":"/crypto/learn/crypto-terms/what-is-aeternity-blockchain","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter A
What is Aeternity Blockchain?
Aeternity Blockchain MEANING:
Aeternity Blockchain -
a blockchain network that operates on a hybrid PoW/PoS consensus protocol.
Let's find out Aeternity Blockchain meaning, definition in crypto,
what is Aeternity Blockchain,
and all other detailed facts.
Aeternity blockchain works on a hybrid PoW/PoS consensus protocol and aims to provide exceptional efficiency, solutions to scalability issues, and transparent governance. Aeternity provides its users with the efficiency of private blockchains and the security of the public ones. Besides, the hybrid approach used by this blockchain allows smart contracts and oracles to process data off-chain, resulting in enhanced privacy, lower fees, and faster transactions.
Aeternty blockchain is being developed by a team led by Yanislav Malahov, who has been involved in blockchain technology since its inception and was one of Ethereum's first contributors. The major aim of Aeternity is to address scalability and privacy issues. They use the hybrid approach that combines off-chain and on-chain solutions to do this. Further improvements on governance, privacy, and scalability are planned in the future development of Aeternity.
Besides, Aeternity happens to be one of the blockchains that use the decentralized oracle network. A decentralized oracle is a piece of software that serves as a link between the blockchain and the world around it. Smart contracts require oracles in order to connect with other networks like Bitcoin and Ethereum.
Smart contracts can’t access data from the outside of the blockchain due to the nature of blockchains. Therefore, oracles are used to access that external data (such as information about sporting event results, weather conditions, flight times, etc.) and submit it in the form of a transaction to a smart contract. Thus, oracles act as a gateway between off-chain data and on-chain applications.
For instance, if you use a smart contract to bet on a sporting event, you can use an oracle to automatically trigger payment after the event is over. The oracle would then go out into the real world and obtain the game's outcome, which it would then input back into the smart contract so that funds could be released accordingly.
The fast success of Aeternity is largely due to its mobile-first design approach. It is becoming an appealing network for DApps developers because it uses cutting-edge technologies to deal with blockchain scalability problems.
