Charts price for aelf (ELF)

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Description of aelf (ELF)

Aelf Origin.

Release Date: December 2017.

Aelf is a fully customizable operating system designed specifically to accommodate Blockchains. The team behind Aelf, which is led by Ma Haobo, previous founder of Hoopox, CTO of GemPay and AllCoin. J.

Aelf Functionality.

Aelf provides to innovative technologies, known as side chains and a governance system. The project is capable of splitting up resources and smart contracts by utilizing side chains which are meant to improve scalability through the use of a consensus system known as Delegated Proof-of-Stake.

So, basically, Aelf is made up of one main chain and a few side ones that operate smart contracts on the Aelf platform. The main chain is of course, fully capable of interacting with all other side chains. These side chains are split into two groups. High importance chains such as BTC, ETH, and others. The rest are internal side chains that compose the Aelf Operating System.

These side chains are required to pay transaction fees using ELF tokens for indexing purposes. Within the ecosystem, ELF tokenholders can vote on the nodes that actually become mining nodes under the Delegated Proof-of-Stake mining system.

Partnerships and competitors.

Despite being a relatively young project, Aelf has managed to form some significant partnerships. The team is currently collaborating with Theta, U Network, and Decent. The biggest competitors that Aelf has would most likely be NEO, Ethereum, ICON, and Lisk.