Aeternity is a scalable blockchain platform that enables high-speed transacting, purely-functional smart contracts. It aims to disrupt existing online and offline interaction models and help people benefit from a global sharing economy based on decentralized systems and individual merit. The platform scales through state channels, running smart contracts off-chain. It introduces a new language that supports formal verification and allows people to write simple and safe code. The VM also accommodates compiled Solidity contracts. æternity uses an ASIC-resistant, memory-bound Proof-of-Work with less than 15 seconds block time. It features an integrated naming system and oracles, which could be used to request and access data from various data providers. Yanislav Malahov and Nikola Stojanow founded the Vaduz, Vaduz-based blockchain platform in 2016.