aelf

ELF
-5.77 % (24hr)

$ 0.1084815314

❝ Aelf is decentralized cloud computing blockchain network with self-evolving features allowing various commercial and mainstream organization to establish establish highly customizable blockchain network. ❞
Market Cap

$ 30.37M

Current Supply

$ 300M

Max Supply

$ 1B

24hr Volume

3.209M

Proof

-

website

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Overview

Aelf is a decentralized cloud computing blockchain network with its own self- evolving network. Aelf helps to establish blockchain infrastructure for various commercial and mainstream establishments and provides highly efficient multi-chain processing system with cross-chain communication. In its whitepaper, Aelf describes it as a highly efficient Blockchain architecture which will create a "Linux eco-system" for Blockchain.

Problems

The existing Blockchain technology is not versatile enough to meet the future commercial needs of organizations or efficiently integrate with the physical business world. The three main challenges of the current system are:

  • Scalability is the main issue for any existing Blockchain systems which increases the transaction time on the chain. Also, with varying computing performances of nodes across the network, the system is not fully efficient at any given time.
  • The existing system doesn't segregate resources for different Smart contracts, which leads to interference among smart contract execution
  • The existing blockchain does not have pre-defined Consensus Protocol to receive updates or adopt new technology. Any changes made through hard-fork always divides the blockchain community which takes down its effectiveness.

How Aelf Works

Aelf is a highly efficient blockchain architecture which introduces the concept of the main chain and multi-layered side chains attached to the main chain to handle various scenarios of commercial needs. Unlike traditional blockchain, where one chain handles all types of contracts which makes it more complex and lacks effective structure, each Aelf side chains is dedicated to one type of transaction and resolves one type of business problems thus making the whole structure of data simple and tailored according to commercial requirements.

The Aelf main chain is the blockchain run by Aelf OS (Aelf Kernel) and is the backbone of the whole system which consists of side chain index, token system and DPoS Consensus protocol. The Aelf Kernel is highly efficient and can be customised according to the commercial needs and is the regarded as the Linux for blockchain ecosystem.

Aelf also enables cross chain interaction with mainstream chains which is realized via messaging. Based on cross chain interaction, it forms an endogenous multi-level cross chain structure that allows sharing of digital assets and user information.

The operation and maintenance of Aelf system is more complex than Bitcoin and Ethereum as it records information of the main chain from side chains and miners need to update information from multiple chains in parallel. The main adopts to DPoS that ensures high frequency and predictability of block formation. It has clearly defined consensus protocol which allows to include new features and update with new technology without creating an impasse and dispute over protocol update.

Key Features

Highly customizable OS for commercial use: The Aelf blockchain uses a highly customizable and efficient OS that will become the LINUX of blockchain ecosystem.

Performance improvement: Its multi-layered chains allows to deliver optimal performance in which each chain focuses on one type of transaction which helps to provide effective and customizable data structure

Structure Governance: Aelf has a clearly defined voting and update mechanism that and the introduction of consensus protocol, which allows adding new features and protocol update without creating an impasse and dispute.

Aelf Tokens

The ELF tokens are used to pay up for the resources fess in the network. The tokens are used for operating and upgrading, the creation of smart contracts, cross chain data transfer fees. The token also allows token holders to vote on the decision of adding new features and other major decisions.

Key Links

Website: https://aelf.io/

Whitepaper: https://grid.hoopox.com/%C3%A6lf_whitepaper_v1.2.pdf