What is Aelf (ELF)?
Aelf (ELF) is a decentralized cloud computing platform built on Blockchain technology. The aelf project’s development team is aiming to help it become the “Linux operating system” of the Blockchain space. Unlike other blockchains, aelfs build a cross-chain blockchain protocol, and have the ability to connect in parallel between many different blockchains. This allows individuals and businesses to build their own customized blockchain with custom consensus protocols.
Features of AELF blockchain
Scalability: The current blockchain network cannot be expanded. The processing power of a node/miner determines the power of the whole network. AELF blockchain can extend performance to a commercial scale.
Self-development: Thanks to cross-blockchain protocol and a built-in computing platform, it is possible to connect more blockchains. That makes building a customized blockchain easy.
Resource segregation and cross-chain communication: Blockchain currently cannot separate resources for different smart contracts, resulting in performance impact.
Aelf was founded by a branded company: Aelf. The ELF development team consists of experts in various areas of the blockchain. Including 1 group of 5 people specializing in research and development in China’s field of investment finance.
Ma Haobo: Haobo was previously the founder and CEO of Hoopox as well as CTO of AllCoin and GemPay. He is also a member of China Electronics Institute Committee.
Chen Zuling: He used to work in the field of postgraduate consultancy, counselor for MNC and the government.
Fu Li: He is a software engineer and IT expert.
Yang Yalong: He is a young PhD at Monash University, he is a researcher, his field of interest is geography and spatial data.
Aelf’s team of advisors is also very special, including experts in many different fields such as: J. Michael Arrington, he is the founder and CEO of TechCrunch. And Zhou Shouji – a founding member of the FGB Capital hedge fund. There are also Kenneth Oh, Liam Robertson …
It is worth noting that this project has received significant attention and investment from a number of companies and venture funds such as Blockchain Ventures, FGB Capital, Draper Dragon, and the presence of more than 10 other large and small companies.
Pros and cons
- Overcoming some disadvantages of previous blockchains
- High-security mode
- Transactions performed extremely smoothly and quickly
- The number of users is small: Due to the newly established and young Aelf network, the Aelf ELF Coin is not well known. Moreover, in some countries and territories are accustomed to trading with traditional cash instead of cryptocurrencies.
- Difficult to use: It will be quite difficult for those who are technology blind when making transactions in this currency.
- Relatively large risks: Because this is a young company that is not having much experience in the market, some risks such as being hacked, lost, and confused money due to transactions made simultaneously with each other are inevitable.
Aelf is a relatively new competitor in the platform race (Dapp) but has solid support from large capital companies. The project is using resource separation through side chains and a unique governance model to build a complete blockchain operating system. Although the opposite of similar projects, it can itself benefit from the synergy created by the openness and scalability of its architecture.
You can check ELF price here.