Aelf is an open-source blockchain network that doubles as an operating system that is designed to provide solutions to blockchain-based problems in the business sector. According to the protocols used in its creation, the network serves as an infrastructure of a single major chain which is then connected to a series of other side chains. As such, this enables developers the avenue to deploy several decentralized applications independently on the isolated side chains while also allowing the resources to gain isolation.
The Aelf ecosystem is a large collection of blockchain resource solutions, one of those is it’s an exchange that enables a secure connection between the leading chains and the isolated chains on the network. This process approach allows for direct interoperability between the side chains. Additionally, the protocol also works hand in hand with several other kinds of applications on different network models. The goal of this is to enable an autonomous system and process facilitated by an incentive model system.
Who are the Founders of Aelf (ELF)?
The Aelf platform was founded by an experienced professional in the health care sector by the name Haobo Ma.
Based on his educational background, it’s surprising that he managed to find his way into the world of blockchain technology. Ma obtained his first degree at the University of Pittsburgh in medical informatics, later he pursued and earned a master’s degree in medicine from Peking Union Medical College. Upon completion of his education, he landed his first job at the Center for Disease Control and Prevention as a public health informatics fellow, and then as a consultant after two years. Later down the line, he became an Anesthesiology Resident at the Massachusetts General Hospital. Ma went on to work at a few other organizations before venturing into the world of blockchain technology in 2010. In an interview with crowdfund insider, Ma stated that was one of the earliest investors in Bitcoin. Later he went on to explore all the other applications through which blockchain technology can be used to provide solutions to several business problems.
What is Aelf (ELF) used for?
The Aelf token is a product of the Aelf ecosystem which was designed as an open-source operating system that operates similar to the Linux operating system to promote a generally more cohesive dApp ecosystem. The system makes use of both the internal and external sidechains, which also involves the development of cloud computing networks.
Unlike most of the other blockchain networks which facilitate the use of servers, computers, and other devices as only nodes, however, the ASIC mining rigs are the only parts of the system specifically designed to be applied in the world of blockchain technology. The Aelf system itself is working towards changing this existing mode of operation by its implementation of a blockchain-based operating system which will be aimed at transforming devices from their foundation and making their usage fit extensively into decentralized applications. The value ascribed to the ELF token also gives it qualities that make it tradable with other tokens like ADA.
What Is the Unique Point of Aelf (ELF)?
The fundamental basis of the Aelf system’s development is completely different from most of the other applications of blockchain technology available in the world. It’s the integration of a dedicated operating system, in which its entire ecosystem is directly connected through its use of a single operating system. An additional advantage of the network’s users is the top-level security provided by the platform. The singular nature of the operation protocol prevents the platform from being susceptible to issues that would normally be considered in other applications of blockchain technology, similar to the Linux operating system.
In general, the world is gravitating towards the use of decentralized, cloud-based computing operating models. Adobe and Microsoft led the pack in software usage as a service and its application to different business models while also including their flagship products to become more mainstream by 2020. This is also an extension to the large use case to which the Aelf system could be put in the long run.
How many Aelf (ELF) coins are in circulation?
Upon the release of the ELF token, the network had a maximum token supply of 1,000,000,000 ELF coins. Out of that amount, the token supply has a circulating supply of 544,480,200 ELF coins.
The Aelf ecosystem held an initial coin offering which ended on the 19th of December and a total of 25% of the token supply was put up for sale. The coin sale raised a total of $24,750,000 and the tokens were priced at $0.099. An additional 25% of the tokens was kept secured for the founders. Thereafter, an additional 12% was kept in reserve to carry out marketing and an extra 10% was included for the platform’s partners and advisors affiliated with the network.
Is the Aelf (ELF) Network secured?
The ELF token was developed under the ERC-20 specifications and as such, the network is essentially protected by the Ethereum network’s dedicated security protocols. In addition to its use of Ethereum’s algorithm, the network also uses its own dedicated security system.
The structure used by the network is described by it’s founding partner as ‘one main-chain + multiple side chains which allows the developers to run and deploy decentralized applications on its network independently on specific side-chains to achieve resource isolation. The network also incorporates parallel processing as well as AEDPoS Consensus Mechanism. The cross-chain technology used by the main-chain index includes a verification mechanism that helps the aelf network achieve a secure and seamless communication network between the main-chain and all the side-chain thus improving the overall interoperability of the platform.
How do I buy Aelf (ELF)?
The main provision of the Aelf network of its the provision of a cryptocurrency platform that also serves as an operating system on which the entire ecosystem is based upon. Because of this provision, the Aelf network has become more mainstream, with more people getting acquainted with its protocols of operation and by extension making its tokens largely available to more people on several exchanges. These tokens can be purchased by the following steps.
- create an account with the crypto trading platform,
- transfer the amount of fiat money to the crypto account through the options provided.
- When the transaction has been confirmed, then you can buy your ELF tokens.
Which Cryptocurrency Wallet Supports Aelf (ELF)?
The PTPWallet platform was created to bring about solutions to several blockchain-based problems and one of the means it does that is by supporting a vast number of cryptocurrencies including the Aelf wallet. Over time, several innovations have sprung up, similar to the PTPWallet system, however, it surpasses them in many ways, one of which is its inclusive design that incorporates top-tier security for users.