Aelf (ELF) is a decentralized cloud computing network. aelf supports cross blockchain interaction with Bitcoin, Ethereum and other blockchain systems. The network has its coin – ELF, which is traded on major exchanges, such as Binance, Huobi, OKEx and etc.
For all intents and purposes, they are creating a new blockchain which will resolve 3 main blockchain problems which has been restricting this technology from being adopted in more mainstream uses. These problems are limited performance, lack of resource segregation, and a properly working governance model. By resolving these issues, aelf will be bringing blockchain technology into business scenarios with full force.
In response to this, they have created a blockchain which can be integrated to side chain specific business scenarios. The aelf blockchain and sidechains will possess the following:
- High efficiency and scalability to handle transactions/applications at a commercial
- High flexibility to customize Smart contracts to meet the needs of different
- High adaptability to new technology in the future
- High compatibility to allow communication across public and private Chains and existing Blockchains
It is easy to notice that the name of the coin is a little difficult, which can make it difficult to advance the project. True spelling does not contain the letters A and E. this is one letter: «æ». But let’s focus on the details, because ælf has an efficient parallel processing mechanism to satisfy commercial application. No more problems with system overload when selling Token Sale in the system. There are also different types of nodes, and all nodes are equal, and the nodes are classified according to their roles.
- High performance. Full nodes running on cloud servers;
- Resource segregation-each smart contract runs on its own Blockchain;
- Management and development – the owners of the tokens to vote for the adoption of decisions and representatives.
- Attempt for a single-line interface Protocol Crosschain blockchain (Polkadot of China) / multi-channel parallel computation and communication structure / “linear model of a block chain”, which allows you to create a custom block-chain with a custom consensus.
The main feature that underlies the aelf platform is the sidechains. It is through the use of several levels of sidechains that the Aelf platform can work on several tasks at the same time. This allows the network to be as efficient as possible due to the distribution of tasks between multiple sidechains.
The official website of the project presents the following scheme of the platform.
ELF coins are used to pay resource fees in the system, such as deployment of smart contracts, operating and upgrading of systems (transaction fees, cross-chain data transfer fees). It also enables community to vote on major decisions, such as electing mining nodes, introducing new features to the system and other major decisions.
Aelf coin price
The price of ELF token or Aelf coin is always chaining, however, BitcoinWiki gives you a chance to see the prices online on Coin360 widget.
Price prediction and prospects of ELF Coin
The Aelf project has very good prospects, but in order for it to start normal work, developers will have to work a lot. In February 2018, the team started testing the platform’s core, after which its own operating system have been be released in may. A full launch of the platform is scheduled for early 2019. If the creators of the aelf crypto currency will be able to implement all the conceived ideas, we will get another platform that will help to combine a lot of decentralized applications in one place.
Aelf vs. Polkadot
As Aelf is different from the Polkadot?
- Both are multi-chain systems
- Both provide the ability to scale
- Both focus on management solutions
- Vision: Polkadot is A website where all the identity and data are safely protected from any Central authority. AELF, on the other hand, wants to build a blockchain ecosystem suitable for any industrial problem.
- Structure: Polkadot creates an environment for multiple state channels, while AELF provides a basic chain + side chain architecture that coordinates homogeneous networks with different Smart Contracts.
- Focus: Polkadot connects different circuits while AELF creates a homogeneous environment in which performance is increased by parallel processing.
- Scaling: Polkadot is designed to develop, deploy, and communicate with a block chain that implements scaling and expansion. Polkadot allows you to assimilate the new blockchain technology without overly complex decentralized coordination on hard forks. However, the Grid increases the scalability by increasing the capacity of nodes. AELF also aims to extend this to a cloud service.
The best part of Polkadot is the original design of a heterogeneous multi-purpose structure, which most improves interoperability and extensibility. The most exciting part of Grid is the ingenious structure that uses parallel computing to meet business needs.
- Strong significant problem which solves a fundamental problem for the basic application of the blockchain technology.
- The team has a wealth of experience in block chain entrepreneurship, a competitive technology base and extensive industry resources. The infrastructure design is also robust and has great potential.
- Undervalued market capitalization.
- A very long period of the lock token for the team of the Fund and the advisers (2-3 years).
- Smart marketing, smart use of airdrop for marketing purposes.
- Strong investors-FBG, 1kx, Draper Dragon and others.