Aelf Project Explained: versatile, adaptable and high performance
ælf cloud computing blockchain

Aelf Project Explained: versatile, adaptable and high performance

By renangeographia | Portal Geographia | 17 May 2020


Introducing ælf

ælf is a decentralized self-evolving cloud computing blockchain network that aims to provide a high performance platform for commercial adoption of blockchain. In order to establish a blockchain infrastructure for various commercial requirements, ælf provides a highly efficient multi-chain parallel-processing system with cross-chain communication and self-evolving governance.  

ælf is high effectiveness and adaptable to deal with exchanges, business applications and versatile to new innovations and it owns high similarity to permit correspondence across open and privacy chains. it's a good point to stand out on crypto market. There's also a burning mechanism that involves transaction fees, as well as a halving mechanism for block production over time. In general, it brings four key innovations:

  • Scalable nodes on cluster of computers;
  • Parallel processing for maximum utilization of processing power;
  • Resource isolation for smart contracts via independent and specialized side chains;
  • Interoperability to run on and flexibility to choose from different consensus protocols (DPoS — native, PoW, PoS) and private/public chain.

General information

Cryptocurrency: aef (ELF)

First issuance date: December 20, 2017

Consensus algorithm: DPoS

Market information

Total issuance: 1 billion ELF

Market offering: 280 million ELF

ælf foundation is the governance entity for aelf based in Singapore. its primary goal is to promote the development of aelf technology and its various applications, facilitate corporation and startups to establish their infrastructure into blockchain. ælf foundation will implement comprehensive management and governance model, fully compliant with regulations and laws in Singapore.

 

Team

The development team, composed of asians, has four main figures. They are:

AMA aelf

Ma Haobo - ælf's founder, member of Blockchain Experts’ Commission of China Computer Federation;
Chen Zuling - MIT graduate, Consulting veteran at Roland Berger;
Yang Yalong - PhD from Monash university with specialization in visualising geo-spatial and transaction network data;
Jason King - Internet entrepreneur​, business executive​, cryptocurrency​ enthusiast, and asset manage​. Currently the CEO at CGS.

 

Main characteristics

  • high functionality: full nodes operates on servers clusters;
  • resources segregation: application's healthy operation cannot be affected by others applications;
  • optimization governance structure: promotes a delegate voting system, token holders ensure governance structure.

infografich main characteristics

The incredible feature is that transaction are executed in parallel, thus, when the system load is large, a node can expand horizontally by adding more servers with ease and multi-chain structure functions can allow for more server paths, where every node is a sub cluster. This same structure provides a way of simultaneously archives resource segregation. In short, it has the potential to communicate tokens from different independent networks and at the same time technology that is not connected to just one server offers more agility at a lower cost.

Regarding interoperability, it is interesting to realize that this has been a feature that is very much sought after by developers, as this may allow for greater adherence in the future, since projects that are already more consolidated can be easily integrated by what is coming now. While some projects create their own independent blockchain isolated and incommunicable, projects that establish the cross-chain can present a differentiator and are more likely to endure in a scenario of uncertainty.

 

ælf x EOS x Ethereum comparison

Both EOS and ælf use parallel processing to handle transactions, but EOS only processes in parallel on the main chain. On the other hand ælf's framework enables parallel processing on all side chains, by doing will be performed on both the backbone and the sidechains.

ælf adopts the architecture of resource isolation to ensure that the surge of traffic on one chain will not affect the efficiency of any other chain, once Ethereum has no scalability no isolation of resources, and the popularity of some games in your chain would block the transfer of the entire network.

As the development of ælf network matures, various types of tests are being conducted to pressure test the performance of the network in a number of different angles. One of the more recent tests to check the nature of the technology were stunning. Comparing the performance of both Ethereum and ælf under identical environment, ælf's contract execution efficiency was proven to be substantially higher than that of Ethereum’s EVM (Earned Value Management), ælf outpacing Ethereum by hundreds if not thousands of times in processing speed.

 

Great partnerships

In August 2019, ælf announced their results from testnet, throughout this period has received multiple awards, global certifications and partnerships for the innovative technology developed. See below some of these partnerships:

aelf partners

 

Chainlink - Integration with Decentralized Oracle Service Provider (Sep 2019)

ælf will be integrating Chainlink, a decentralized oracle ( a tool that feeds the on-chain smart contracts with “off-chain” data outside its native blockchain) network  that provides inviolable data. Chainlink oracles will ensure the security and reliability of any data that enters and exits the aelf blockchain. This will allow the smart contracts on aelf to securely connect to data sources and APIs around the world and provide connectivity to other networks in the Chainlink ecosystem, such as Ethereum, Google Cloud, Zilliqa and many more.

 

Huawei - incorportaed on Huawei's Cloud cross-chain project (Sep 2019)

Incorporated on Huawei Cloud’s, ælf features a complete blockchain system, support for development kits, support for web tools and programs where developers can quickly deploy applications based on the provided kits and tools. In addition, provides help businesses and developers easy ways to build powerful applications. Huawei and ælf will continue to explore more opportunities for collaboration to serve their enterprise clients. ælf will further strengthen cooperation with Huawei Cloud, while deepening position in the industry and maintaining technological advantages.

 

Amazon Web Services - AWS has listed ælf as a BaaS (Backend as a Service) provider through the AMI (Amazon Machine Image) - (May 2019)

the world’s largest cloud computing provider with tens of thousands of global partners and millions of active customers, it's a big potential to get visibility in this kind of business.Through this listing, ælf is now visible to companies such as Netflix, NASA, AirBnB, Time Inc, Lionsgate & Dow Jones. Aelf is the first blockchain platform listed on AWS with cross-chain capabilities.

 

Google Cloud - ælf Enterprise was officially listed on Google Cloud Marketplace (Oct 2019)

With Google Cloud, that is, the same infrastructure of Google Search & YouTube, developers can deploy their own applications on aelf enterprise utilizing Google’s Compute Engine with only a few commands. This allows enterprises to have a working blockchain entirely for their own needs within minutes. The listing also provides developers with supporting tutorials, smart contracts, and dApp samples.

 

Microsoft Azure - has listed ælf  as a BaaS provider, bringing visibility to the thousands of commercial customers (Jul 2019)

Microsoft Azure is one of the world’s leading cloud computing platform providers with more regions provided compared to any other cloud provider. This action will bring visibility to the ælf plataform, including names NBA, UPS, FedEx, BMW, Walmart, Coca-Cola, Toyota, Fujitsu, RioTinto, Samsung and Toshiba. Users can now deploy on the ælf blockchain through Azure with ease and efficiency.

 

Conclusion

I understand that as all technology evolves, it would be no different with the cryptocurrency system, and ælf takes the lead by providing consistent resources to bring better involvement between different blockchain whether related to cryptocurrencies or simply computational applications.
I was surprised by the level of development of this project, which is still a little unknown on my part and also by a large part of investors in the segment. Undoubtedly from now on, we will see these undervalued projects with new eyes, but we will also understand that the oldest projects, "cryptodinosaurs", are only maintained at this level due to the pioneering spirit and no longer due to innovation. ælf is still a boy compared to such systems, but like every new generation comes to all vapors, inheriting positive points and adding new possibilities and his growth owes to the recognition from global investors, excellent development team and advisors, and active engagement with the community.

I hope you enjoyed reading. Good luck to everyone at the ælf' contest! 👍🏽🙂

 


Main exchanges listed:
  • Binance;
  • KuCoin;
  • Bitfinex;
  • Huobi Global;
  • Kyber Network;
  • HitBTC;
  • BittRex International.

#aelfexplained


renangeographia
renangeographia

https://www.geographia.com.br/ I am a teacher, married, family man and I like to write about cryptocurrencies


Portal Geographia
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