What is aelf (ELF)?
Future of ELF Cryptocurrency and know how to buy ELF

#1 - What is aelf

aelf is one of the newly launched cryptocurrencies that is attracting crypto enthusiasts following its massive commercial adoption initiative. The coin seems to be leading on the technology front with higher blockchain efficiency, which is why it's also anticipated to be the Linux of Blockchains.

aelf: The Basics

  1. aelf is an operating system for blockchains which can be customized by their respective users. Its cryptocurrency is denoted by the symbol ELF, with a total supply of 250 million ELF.
  2. It was launched on 21 December, 2017 on multiple exchanges in China without any ICO and instead got private investors on board. This ensured better compliance as KYC was done for all investors with most of them being accredited, with a good track record in token investment.
  3. It uses the Delegated Proof-Of-Stake consensus system and sidechains for a unique and adaptable governance system. It provides an efficient and optimized multi-chain parallel-processing system with cross-chain communication
  4. The system fees of smart contracts, transaction fees & cross-chain data transfer fees are paid in ELF tokens.

aelf Development

  1. aelf was developed by Ma Haobao, who is also the CEO of Hoopox. The team is backed by a strong advisory board which includes Michael Arrington (CEO of TechCrunch and founding partner of FGB Capital). The team says it is working on unleashing the blockchain’s potential into mass applications and industries.
  2. aelf is now working with Innovation Alliance for increasing the acceptability of blockchain technology which will ultimately increase adoption of aelf’s blockchain.
  3. The team is focussed to develop aelf to improve other chains in the ecosystem by providing a template and infrastructure for interaction between the sidechains.

aelf Technology

  1. Smart Contracts setup dApps using sidechains which prevent redundant mutual interference. Smart contracts are run by one mainchain and numerous sidechains. The aelf mainchain can incorporate any other blockchain while the sidechains run independently, and focus on only specific contracts. This is called its “one chain to one smart contract” technology.
  2. The scalable mining nodes of the mainchain that run DPoS on a cluster of computers, secure the whole system as well as the sidechains. This consensus model improves the efficiency of the delegated nodes which protects the mainchain. sidechain dynamic indexing attaches the sidechain to the main chain.
  3. Delegated Proof-of-Stake (DPoS) enables Consensus Protocol that allows ELF token holder to decide which nodes become mining nodes. The nodes which have been voted for determine the distribution of mining bonuses to rest of the nodes and token holders.

Features

  1. aelf’s blockchain network runs as the mainchain. So, businesses can develop their own dApp which will run as a sidechain and not on the mainchain. Individuals can have their custom blockchain and choose its privacy settings, updates, etc. as they have complete control.
  2. The mainchain is the backbone of the entire system and can interact with outside chains and the subchains as well. Independent sidechains give full ownership to the businesses and decrease complexity in data. It also enables more customization.
  3. Whenever any chain attaches itself to aelf sidechain, a transaction fee has to be paid for indexation to the main chain. The higher the number of sidechain attachments, lower is the transaction fee.
  4. The decision making in electing mining nodes, and new updates, are implemented through a consensus protocol. The voted features are adopted by the entire system only after approval from a sufficient number of delegates.



#3 - How to Buy and Store aelf?

How to buy aelf?

aelf is available on multiple exchanges like Binance, KuCoin, CoinTiger, Huobi. But with the ELF cryptocurrency being available over many exchanges, it can get difficult to get the best price for your transactions. This is where CoinSwitch steps in.

  1. While cryptocurrency exchanges provide you with a platform to buy or sell the aelf cryptocurrency, CoinSwitch, the largest cryptocurrency conversion platform, comes in to help you make the right decision by providing the prices for aelf. It makes it possible for investors to invest in aelf tokens and also store it securely using an ERC 20 compatible wallet. This way you can choose the best deal for you!
  2. With CoinSwitch you can also buy, sell and trade over 275 cryptocurrencies for aelf. It offers interchangeability and unified experience for all cryptocurrencies with a wide offering from all major exchanges.

aelf Storage

aelf is an ERC 20 token, which can be stored in any ERC20 compatible wallets. Some of the compatible wallets are:

- MyEtherWallet

- Jaxx

- Ethereum Wallet

- Ledger Nano S

- TREZOR

After the mainnet launch, ERC20 tokens will have to be exchanged for ELF coins for which the existing wallet compatibility may change.

 

#4 - What is the future of aelf?

Complete Analysis of aelf | Live aelf (ELF) Price Charts & Predictions

As of June 2018, its market capitalisation stands at $258 million. The maximum supply of the aelf cryptocurrency (ELF) is about 180 billion ELF.

With customization, scalability and upcoming mass adoption initiative, aelf is set for a strong and long run on the markets. Priced at around $1.1 at its launch, it rose with rapid pace to touch over $2.61 - giving its investors an impressive 161% returns just within a month of its launch.

Many analysts suggest it will eventually grow to $188 by 2023 due to its increasing commercial adoption.

Date

Open

High

Low

Close

Volume

Market Cap

Jun 01, 2018

1.03

1.08

1.03

1.07

31,583,200

258,697,000

May 01, 2018

1.91

2.10

1.66

2.07

222,883,000

476,668,000

Feb 01, 2018

1.94

2.16

1.59

1.70

185,272,000

484,419,000

Jan 01, 2018

0.993784

1.11

0.928899

1.05

102,594,000

248,446,000

 

#5 - How is aelf different from other cryptocurrencies?

As discussed earlier, aelf has multiple standout features making it unique from most other cryptocurrencies.

  1. Customizable Consensus Protocols enable implementation of regular updates in Grid. It adapts to future improvements by self-evolvement. This attracts business and capital partners. The customization feature is not available on any exchange.
  2. The transactions are processed more quickly with Parallel-processing & cloud service on which full nodes run.
  3. The N sidechains and the main chain together decrease trivial data and cater to the scale of various commercial applications which makes it a tough rival in dApp space.
  4. All the smart contracts run on their own Blockchain which ensures resource segregation which is not available in Bitcoin and Ethereum.

 

#6 - Should you invest in aelf?

  1. aelf developers are working to make aelf the Linux of blockchains, which is certainly the right buzzword to draw investor attention and sentiment.
  2. Despite being new in dApp platform, aelf has a strong backing from capital firms like Alphabit, Chain Funder,Blockchain Ventures, FGB Capital, etc. Their investments create synergies and attract more investors which can push for a bull run in the long term.
  3. The mass commercial adoption of blockchain technology will further enhance the growth potential of this cryptocurrency. Overall, ELF seems to be a good long-term investment.
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