Blockchain startup æternity joins Initiative for Cryptocurrencies & Contracts

Blockchain startup æternity has announced that it has joined the Initiative For Cryptocurrencies & Contracts (IC3).

Founded in 2016, æternity is an open-source, blockchain-based distributed computing platform that builds on decentralized cryptographic P2P technology. Designed to deliver unmatched productivity, transparent governance, and global scalability, it offers blockchain technology with a consensus mechanism that is as efficient and cost-effective as possible.

Based at the Jacobs Technion-Cornell Institute at Cornell Tech in New York, IC3 is an initiative of faculty members at Cornell University, Cornell Tech, UC Berkeley, UIUC and the Technion.

By joining the initiative, æternity will join forces with existing members including the likes of IBM, Fidelity Labs, Intel, Microsoft and others. It will get an opportunity to directly interact with IC3 academics and students, participate in IC3-organized webinars, receive regular updates on IC3 projects, and access early previews of results, research reports, papers and other IC3 publications.

“Becoming a member of the Initiative For Cryptocurrencies & Contracts(IC3), we expect to further improve æternity’s technology by contributing to the development and implementation of new cryptocurrency and smart contract solutions that are easy to program and formally verifiable, with provable security properties that meet industry expectations for efficiency and reliability,” æternity said in an online post.