Aelf (ELF) – Everything You Need to Know
What is Aelf?
Aelf is a customizable operating system (OS) for blockchains which aims to become the “Linux eco-system” for blockchains. The system consists of the main chain and several side chains, on which smart contracts are executed.
Each side chain is reserved for one specific type of smart contract, and side chains can communicate with each other through the main chain. The main chain functions as a root-layer and connects all side chains through a side chain index system, and the main chain can also communicate with outside blockchain networks.
Every side chain has to pay a transaction fee to the main chain for indexing. The consensus mechanism if delegated Proof-of-Stake and the native asset is called ELF.
Ma Haobo founded aelf in 2017. A token sale was held in December 2017 were 24,750,000 USD was collected. Several high-profile investing companies participated in the funding of this project, for example, Fenbushi Capital and Tim Draper Ventures.
Can aelf be mined?
No, the project uses dPoS (distributed Proof-of-Stake) as a consensus mechanism. Instead of mining, block producers will be generating blocks and get rewarded in tokens. Block producers will be voted upon with the dPoS-system.
What differs aelf from other Cryptocurrencies?
aelf offers solutions for private chains and builds an interoperable system that is capable of exchanging data with other blockchains. And the resource segregation where every smart contract type has its own side chain is an interesting concept.
How much is aelf worth today?
What is the total and the circulating supply?
The total supply of ELF is 280,000,000 and the circulating supply at the time of writing is 250,000,000 ELF.
Where can you buy ELF?
You can buy ELF on several cryptocurrency exchanges, most notably Binance and Bithump.
Can ELF be sold for cash?
You can sell ELF for cash on several cryptocurrency exchanges that have fiat-pairings, most notably Bithump.
ELF is currently in circulation as an ERC20 token that serves as a placeholder and will be swapped with native tokens once the aelf mainnet is launched. The mainnet is expected to be live between Q4 2018 and Q1 2019.
Development is very active and extensive integration of functions and subsequent testing and improving is done.
Verdict and Rating
6/10 Good project, capable team, well-respected backers. The whitepaper is very detailed and thoroughly written. The GitHub repositories are very active.
The concepts of resource segregation, private chain modules, and cross-chain interaction are very interesting. The downside is dPoS which is not the most secure consensus mechanism and not as well understood as Proof-of-Work.
DisclaimerThe writer’s views are expressed as a personal opinion and are for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
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