Introduction to Aelf (ELF)
Aelf is decentralized open-source self-evolving cloud computing blockchain network that aims to provide high-performance platform by implementing multi-chain parallel-processing system with each side chain dedicated to specific business scenario.
This design allows Aelf to offer both vertical and horizontal scalability improving overall network efficiency. The project was launched as layer-1 solution allowing everyone to participate and be part of cloud computing expansion infrastructure.
Aelf’s architecture not only enhance transaction speeds and scalability but also maintain strong interoperability features that enable seamless communication and asset transfer across different blockchain systems.
One of Aelf’s most distinctive features is its unique multi-chain structure. Unlike traditional blockchain systems that operate on single chain Aelf utilizes main chain that coordinates a network of side chains thereby segregating resources and enhancing performance.
This structure enable specialized processing that helps to reduce congestion often seen in single-chain models.
Each side chain can be tailored for specific applications such as smart contracts private blockchain provisioning or inter-chain communication making Aelf network highly customizable and adaptable.
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The Genesis of Aelf
Platform was launched by Haobo Ma, a prominent figure in crypto community who envisioned blockchain infrastructure capable of meeting commercial requirements of various industries.
The network was officially launched in September 2017 with its native ERC-20 token ELF being released later in December 2017.
The founding team’s expertise and clear vision attracted significant early funding from notable venture capital firms which was crucial for its development and initial deployment.
Close to 30 major investors have invested in Aelf with some major names including Async Capital, 1kx, Arrington Capital and 8 Decimal Alphabet.
Evolution of Aelf through major development milestones and updates
Since its inception Aelf has undergone several significant updates and expansions to enhance its capabilities and broaden its applicability.
The platform has focused on developing features such as cross-chain interoperability a delegated proof-of-stake consensus mechanism and governance system that allow ELF token holders to vote on major decisions.
These developments have been pivotal in ensuring that Aelf not only keeps pace with evolving demands of blockchain space but also remains at forefront of innovation in decentralized network solutions.
Aelf’s Multi-Chain Architecture
Blockchain architecture is uniquely structured around main-chain and multiple side-chains to enhance scalability and performance.
The main-chain act as backbone of network overseeing security, consensus and orchestration of inter-chain communication.
Each side-chain is designed to operate independently handling specific business scenarios or applications.
This multi-chain approach allows for dedicated processing which significantly reduces congestion and bottlenecks commonly experienced on single-chain platforms.
How Aelf achieves interoperability between chains and facilitates resource isolation
Interoperability in Aelf’s network is achieved through well-defined protocol for communication between main-chain and its various side-chains.
This system ensure that while each chain operates independently information and value can seamlessly transfer across network fostering cohesive ecosystem.
Resource isolation is facilitated by this architecture as each side-chain can optimize its performance and security settings based on its specific needs without affecting others.
This not only enhance efficiency but also improve overall robustness of network.
Aelf’s Consensus Protocol: Achieving Scalability and Security
Platform employs consensus mechanism that combine Delegated Proof of Stake (DPoS) with additional unique adaptations tailored to support its multi-chain structure.
In Aelf’s DPoS system token holders vote for delegates who are responsible for validating transactions and maintaining blockchain.
This layer of delegation allows for more rapid transaction processing and less congestion as only selected number of nodes participate in consensus process.
The DPoS model employed by Aelf bring several benefits:
- Scalability: By limiting number of node involved in consensus process and allowing side-chains to process transactions independently Aelf can scale more effectively than traditional blockchain system.
- Transaction Speed: Delegation in DPoS system allow for quicker block creation and validation significantly enhancing transaction throughput.
- Network Security: Although DPoS is sometimes criticized for less decentralization Aelf’s adaptations ensure that governance remain democratic and secure by allowing widespread participation in delegate selection and performance monitoring.
ELF Tokenomics
ELF is native token of network serving as fundamental component of its ecosystem. With maximum and total supply capped at 1 billion tokens and current circulating supply of 72.67% ELF plays crucial role in facilitating various functions across platform.
The utility of ELF extends beyond mere currency as it is integral to network governance transaction fee payments and operation of decentralized applications on Aelf blockchain.
ELF tokens enable token holders to participate in governance decisions through a voting mechanism reflecting decentralized nature of the network.
Holders can vote on key issues such as protocol updates, project developments and other significant decisions ensuring that network evolve in line with community’s interests.
Additionally ELF is used to pay for transaction fees and services within network helping to maintain its operability and efficiency.
Token Distribution Strategy
The distribution strategy for ELF token has been designed to support long-term network growth and sustainability.
This strategy include allocations for community incentives team and founder rewards partnerships and ecosystem development.
By distributing tokens in manner that incentivize participation and investment in network that various stakeholders are committed to platform success.
Mining Mechanisms and the Role of ELF in Network Security and Consensus
Since Platform utilize dPoS that does not use traditional mining model like Bitcoin, it incorporates a form of mining tied to resource allocation.
Users can “mine” by contributing resources to network such as by staking their ELF holding and providing liquidity to DeFi pools on platform.
This process incentivizes users to actively participate in network maintenance and development.
Acquiring and Storing ELF Tokens
The token is listed on multiple top-tier exchanges including Binance, Bitget, KuCoin and Crypto.com Exchange with multiple trading pairs.
Here is step by step guide on how you can acquire ELF tokens from these exchanges:
- Select an Exchange: Choose an exchange mentioned above here or any other that lists ELF tokens and is known for its reliability and security features.
- Create and Verify an Account: Sign up and verify account with that exchange which may include identity verification depending on exchange’s requirements and your region. Binance users are obligated to complete KYC in order to perform trading tasks. So, if you have chosen it then you must have to complete verification process.
- Deposit Funds: Deposit funds into your account using either fiat money like USD or another cryptocurrency depending on what exchange accepts.
- Purchase ELF: Navigate to spot trading page select appropriate ELF trading pair and enter your transaction details in buy order form and place an order for limit or market order.
Best Practices for Securely Storing ELF Tokens
Although Binance and other top tier exchanges are considered secure to store assets but collapses due to hacks or financial mismanagement remain a potential risk.
Its recommended to use private wallet for enhanced security especially for longterm holding or large amounts of ELF.
Private wallets give you control over keys ensuring that you’re not dependent on security practices and stability of third-party services.
Always make sure that your private wallet is fully updated and that you’ve enabled all available security measures such as encryption and two-factor authentication.
Additionally keep backups of wallet recovery phrases in multiple secure locations to prevent loss from physical damage or theft.
Market Analysis: ELF Token’s Performance
The Aelf development team is continuously working on enhancing network capabilities. Planned updates may include improvements in scalability features deeper integration of side chains and introduction of more robust decentralized applications.
These technological advancements are designed to ensure that Aelf remain competitive and relevant in fast-evolving blockchain sector.
Out of almost 10K active cryptocurrencies in market ELF ranks in top 150 in terms of marketCap and is continuously improving its positions.
Future Developments and Roadmap
The developer team is continuously working on enhancing network capabilities. Planned updates may include improvements in scalability features deeper integration of side chains and introduction of more robust decentralized applications.
These technological advancements are designed to ensure that Aelf remain competitive and relevant in fast-evolving blockchain sector.
Aelf’s longterm strategic goals involve cementing its position as leading blockchain platform for enterprise solutions. Team hasn’t made its longterm roadmap public on their official site.
Based on analysis and information gathered from different sources roadmap likely includes expanding its ecosystem enhancing user engagement and fostering more vibrant community of developers and users.
Through these efforts Aelf aims to drive broader adoption and potentially become a standard for business applications built on blockchain technology.
Conclusion: The Strategic Importance of Aelf
In the end, I would say Aelf has made significant strides in advancing blockchain technology particularly through its multi-chain architecture and scalable solutions.
These innovations address critical issues like high transaction costs and slow processing times, making blockchain more accessible for large-scale enterprise use.
As blockchain technology continues to mature platforms like Aelf that offer scalability, efficiency, and robust developer support will be crucial in shaping future of digital transactions and decentralized applications.
Aelf’s ongoing commitment to innovation and community engagement positions it well to be at forefront of next wave of blockchain solutions potentially setting new standards for performance and functionality in industry.
We Coin-Labs.com provides only objective information about Aelf (ELF).
Therefore, we are not responsible for the investment decision in Aelf (ELF) and the resulting loss.
Aelf (ELF) Basics
Here are some factors that investors should consider before investing in Aelf (ELF).
| Cryptocurrency Features | Aelf (ELF) () |
|---|---|
| Publisher or Developers | |
| Headquarters (Registration Number) | |
| Symbol | |
| Platform | |
| Published Date (CMC Registration) | 2024-10-02 |
| Max Supply | 958,691,258,152,859 |
Reliability Score of Aelf (ELF) in 2024
These are indexes mesuring the investment reliability of Aelf (ELF) conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | / 10.0 CAR |
| Communication Rate | / 10.0 CR |
| Technology Transparency Rate | / 10.0 TTR |
| Development Participation Rate | / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 0 Exchanges |
| Number of Available Pairs Worldwide | 1 Pairs |
| Market Cap of the Cryptocurrency | 6,683,329 USD (Rank #1295) |
The table above shows the result of investment suitability evaluation for Aelf (ELF).
Check out how we evaluate cryptocurrencies on the crypto rating description page.
Aelf (ELF) Price
Here are the price and recent trading volume of Aelf (ELF). (Data of 2024-10-03 00:15:00)
| Price Items | Price and Trading Volume of Aelf (ELF) |
|---|---|
| Aelf (ELF) Price | 0.000 USD |
| Price Change 24h | -5.48% |
| Price Change 7d | -4.99% |
| Trading Volume 24h | 11 USD |
| Trading Volume Change 24h | -82.47% |
Cryptocurrency Metadata
You can check the development status and social media information of Aelf (ELF) through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | |
| 📖 White Paper | |
| 🛰️ Source Code (GitHub) | |
| 🎺 Message Board |
Where to Buy Aelf (ELF)
Here are the top ten world crypto exchanges where traders can buy Aelf (ELF) in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Not listed | |
| Coinbase | Not listed | |
| Kraken | Not listed | |
| KuCoin | Not listed | |
| Bitfinex | Not listed | |
| OKX | Not listed | |
| Huobi | Not listed | |
| Bitstamp | Not listed | |
| Bybit | Not listed | |
| Gate.io | Not listed |
Frequently Asked Questions
What is the current price of Aelf (ELF)?
Aelf (ELF) price today is 0.000 USD. Furthermore, the price of Aelf (ELF) has fluctuated by -5.48% from 24 hours ago, and by -4.99% from a week ago.
Where is Aelf (ELF) listed?
Currently, it is listed on a total of 0 among the world top 10 exchanges.
What is the market cap of Aelf (ELF) now?
Currently, Aelf (ELF) has a market cap of 6,683,329 USD, which is ranking 1295 among cryptocurrencies worldwide.
How much is the trade volume of Aelf (ELF)?
Currently, 0 coins are circulating through 1 market pairs. As a result, in the last 24 hours, 11 USD of coins were traded in the market.
