What is Aelf?
The Aelf token is seen as the Linux for blockchains with its extremely customized system, efficient and ideal for commercial use. The core of Aelf has a basic interactive interface, leaving the user to choose between a complete OS or develop a custom one. This token can connect to blockchains like BTC and ETH thanks to its cross-chain structure. Aelf’s private blockchain is very similar to the AMI (Amazon cloud service) – a fast creation of fully owned private modules.
The data limitation effect is suppressed with the Aelf cryptocurrency system. The team had found a way to improve transaction efficiency. This offload action is accomplished through a snapshot system. Triggered in a defined cycle, each snapshot shortens the heavy data and pointing the sub-information to a new block. The maximum supply is 1,000,000,000 ELF tokens.
Advantages
- Main chain
- Multi-layer side chains
- Improved process efficiency
- Aelf stakeholders – approve changes to the protocol, the main chain and the side ones
- Each smart contract has a side chain – this way the main one is protected from a constant bottleneck effect (similar to lightning networks)
Disadvantages
- DPoS consensus – too centralized
- Extra control over the decision-making process
- Normal users have no vote on any upcoming networks changes and adjustments
- Small amount of block validators on the Aelf crypto network
- Decisions are made by several people and their number of block producers is raising with only one per year
History and Evolution
The Aelf token started its journey at the end of November 2017, through an ICO lasted about two weeks raising almost $25 million with 0.0990 USD per token. The market back then was in a bad shape, price wise. There are some differences in the financial value – now a token is 2.3 times more in USD value, 6 times in ETH and 5,70 times in BTC. This shouldn’t change your mind on the Aelf token. It has very good ideas and started realizing them.
The people standing behind this project are the MIT graduate consultant veteran Chen Zhuling, a data mining and visualization expert with over 10 years in the field of internet development Rong Pen. The other two are Yang Yalong with Ph.D. in transaction network data and visualizing geospatial, and the CEO Ma Haobo. He is a blockchain expert and a member of the Chinese computer Federation plus the Blockchain Commission of experts.
Aelf’s Future
The Aelf token was created and functions as an adjustable OS for blockchains. The approach is to become the Linux of the community and they are not far away from that goal. The presented roadmap back then, while the ICO was running, was overshot. For now, Aelf has no official roadmap in mind.
Aelf Blockchain
Aelf is a token, which means it has no blockchain yet. This project relies on ETH one to transmit all actions concerned in the process. The team is aiming at a main net, which should be launched in the near future. There will be a transformation process where the token will become the Aelf coin, which is going to be completely separated from Ethereum’s chain. A sure step in that direction was the test net, launched four months ago, available for download in Github. Nothing further can be speculated, as there is no progress on their roadmap.
How to Get Aelf at Exchanges
The Aelf token can be obtained in various exchanges and only as a cryptocurrency pair. The highest value you can get for Aelf is from Binance, pairing it with BTC and ETH. Another profitable pair is with Golem on Okex and Huobi exchanges. Appearing on such places helps with the token’s liquidity. Even if this project looks interesting and with an exclusive smart contracts’ usage, its price dropped with almost 90% compared to the USD.
| Exchange | Buy aelf with: | Buy with Fiat Money: | |
|---|---|---|---|
| Bitcoin, Ethereum | – | Trade now | |
| Bitcoin +2 more | – | Trade now | |
| Bitcoin +2 more | – | Trade now |
Wallets for Aelf
Now, you know what is the ELF token is and where to get it, but the key trading element is the crypto wallet. Aelf still correlates with the ERC-20 tokens. This makes your job easier, because pretty much any ETH compatible wallet is a good choice. The most effective way, for now, is to generate one using MEW (MyEthereumWallet). Send all of your tokens to that new address. This wallet uses a browser to operate, so there is no need for a large disk space or downloading anything more than the installation files. What is more, no special requirements are demanded. All you have to use is an internet connection and a PC.
Alternative Wallets
The tricky part with using Ethereum wallets is the token display in them. Don’t be puzzled here, you can receive ELF tokens, but they won’t be shown. Nevertheless, there is no specific hardware or software alternatives for this type of tokens.
Mobile Wallets
Web Wallets
News
If you are interested in this token after reading the whole Aelf review and want to more what`s currently going on with the project, have in mind that Aelf is a fairly new crypto project with not so loud social media presence. However, they manage to announce every piece of information and news on Telegram (where Aelf has created a group), their official Twitter profile and of course from their website.