æternity partners with Erlang Solutions to tackle blockchain scalability

æternity, the open-source, distributed computing platform that builds on decentralized cryptographic P2P technology, today announced a partnership with Erlang Solutions, an Erlang and Elixir consultancy, to scale its distributed system and peer-to-peer network and bring its blockchain technology to the masses.

“As scalability issues continue to plague modern blockchains, innovative, comprehensible, and truly revolutionary solutions must be pursued if they are ever to achieve widespread adoption,” æternity founder Yanislav Malahov said. “We are thrilled to be collaborating with Erlang Solutions to strengthen our work towards overcoming these challenges and are eager to bring our ground-breaking technology to billions of users worldwide.”

Yanislav Malahov

Founded in 2016 by Mr. Malahov, known in some circles as “the Godfather of Ethereum”, æternity is designed to deliver productivity, transparent governance, and global scalability. æternity raised approximately 29 million CHF in its campaign to offer blockchain technology with a consensus mechanism that is as efficient and cost-effective as possible. Programming complex relationships for a global user base, æternity can handle large volumes of products and information in parallel. æternity’s state channel design enables the off-chain verification of data and smart contracts, allowing for all transactions to be independent of each other, thereby increasing transaction speed and scalability while also ensuring increased privacy.

With the support of Erlang Solutions, which will assist in scaling æternity’s distributed system and peer-to-peer network by providing fault tolerant systems capable of scaling to billions of potential users, æternity intends to utilize Erlang, the domain specific language, to drive the mainstream adoption of blockchain technology. This partnership will also strive to tackle consensus mechanism-related challenges, which have already been identified as problematic for blockchain developers.

“Specializing in providing truly scalable solutions through the creation, integration, delivery, and lifetime support of products and services based on the Erlang programming language, we are extremely keen to begin working with a company as innovative as æternity, and believe that both sides with benefit immensely from this partnership,” said Francesco Cesarini, founder of Erlang Solutions.

With more than 100 specialists working out of London, Stockholm, Krakow, Budapest, San Francisco, and New York, Erlang Solutions has a team of software experts passionate about BEAM technologies, including Erlang/OTP and Elixir, and with an unwavering belief in the open-source future. Offering a wide range of services from consultancy and development to architecture reviews and training, and by building trusted, fault-tolerant systems that can scale to billions of users, Erlang Solutions’ technical expertise is the backbone to numerous global business operations.

“Erlang Solutions is renowned for its technical talent, and having already embedded some of its engineers and architects in our development team, we have no doubt that Erlang Solutions will play a crucial part in building out an extremely strong core team,” Mr. Malahov added. “Having numerous clients around the globe spanning from startups to Fortune 500 companies, Erlang Solutions has gained invaluable experience and thrives when working on complex cases and providing solutions to distributed systems.”