The blockchain system evolves over time and finds use cases in different sectors. While every sector and business scenario requires the use of certain characteristics of blockchain technology, a universal blockchain system would not work in this case.
In addition, as the blockchain system grows, so do its maintenance costs. The widespread adoption of blockchain will also lead to inflation in the blockchain network.
aelf builds a blockchain network based on cloud computing. The team behind aelf has successfully developed the aelf Mainnet, aelf Oracle, aelf Enterprise and diversified its DeFi protocols. They aim to create a one-stop solution to improve platform performance and cross-chain functionality.
What is elf?
aelf aims to build a powerful cross-chain blockchain network that creates an autonomous, stable and secure financial system. The platform wants to give its users more control by being open source and community driven. It is headquartered in China.
It is infinitely scalable and the on-chain service fee is set at $ 0.1. This fee does not fluctuate with traffic growth, currency prices, or other such circumstances.
aelfs mainnet swap
The aelf Mainnet was launched in December 2020 and has since proven its reliability and ease of use. The launch of the platform’s mainnet token swap is a major achievement for both the platform and its users.
The mainnet token exchange can take place automatically via exchanges or by manually exchanging the tokens on the aelf website. The exchange rate between the ERC-20 ELF and the mainnet ELF tokens is set at a rate of 1: 1.
Users who attend the mainnet launch event within the first 15 days will have the chance to receive an additional airdrop of 5% after completing the token swap.
Features of the Aelf Mainnet
Some of the main features of the Aelf mainnet are:
- Multi-chain integration: aelf can interact with Bitcoin, Ethereum and other blockchains via messaging. This would help form an endogenous multi-level cross-chain structure based on the interaction of these multiple chains. It would also help with the exchange of users, data and digital assets.
- Customizable operating system: The aelf design aims to evolve into an efficient and customizable operating system. The platform aims to first define and implement the aelf kernel, which would contain the basic functions of a blockchain system. Then they would develop a “shell” as an interactive interface for the core. This would allow users to either use the entire blockchain operating system or develop a customized operating system based on the core by redefining it through interfaces.
- A private chain option: In addition to public chains, aelf’s mainnet also offers a private chain option for all companies that want to use blockchain. The platform offers its users the ability to create their own private chains that would exist in isolation from their external ecosystem.
Main features of aelf
aelf has unlimited scalability and an innovative cross-chain structure that offers users a user-friendly and smooth experience.
- aelf-Block-Explorer: The aelf-Block-Explorer helps to keep track of and monitor information in the main chain.
- aelf Web Wallet: The Web Wallet is based on the aelf Blockchain and supports asset management and cross-chain transactions.
- aelf wallet app: The aelf wallet app supports asset management and multi-chain transactions conveniently via a user’s smartphone.
- NightELF Explorer: The NightELF Explorer offers authorization and account management options in the aelf ecosystem.
In contrast to a traditional single chain system, Aelf has a “branched ecosystem” in which the main chain is the backbone of the entire system and is connected to the multiple side chains, which can also comprise multiple layers.
As already mentioned, aelf connects to Bitcoin, Ethereum and other blockchains. This is done via an adapter so that it is compatible with other ecosystems. Aelf’s main chain interacts with its side chains by dynamically indexing the side chain.
The aelf token (ELF) is the main token on the aelf platform and its use cases range from transaction fees, voting, rewards to side chain index fees and deposits from production nodes.
The token has a total supply of 1 billion and a mining quota of 12%. A portion of 10% of the transaction fees is burned, the rest goes into the dividend pool.
aelf is an open source blockchain network designed to provide a complete business solution while facilitating the mass adoption of blockchain technology. The main chain and multiple side chain models would help developers work independently on projects while allowing users to have a faster and safer chain.
The parallel chain processing and AEDPoS mechanism also help to provide the users with a healthy experience on the platform.
In addition, there is the main chain index and verification mechanisms that provide a secure communication channel between the main and side chains.
aelf is expanding its user base and currently has over 87,611 users and communities in 12 languages.
You can find more information about aelf on their website.
Disclaimer: This is a paid post and should not be treated as news / advice.