Aelf is a decentralized, self-developing cloud computing network. To create a Blockchain infrastructure suitable for commercial purposes, ælf (ELF) provides a highly efficient, multipurpose parallel processing system with interconnection and self-managing control.
As we learned from the exchange service, it offers three innovations:
scalable nodes in computer clusters;
isolation of resources for smart contracts;
voting through the holders of the tokens.
Aelf will interact with Bitcoin, Ethereum, and other Blockchain systems. Interworking with the main goals will be realized through the exchange of messages. And this will also be an endogenous multi-level structure of cross-chains, based on interchain interaction, for the exchange of digital assets, users and information.
ELF signs are used to pay fees for resources used on the network, such as deploying smart contracts, operating and upgrading systems, and allowing the community to vote on key decisions such as selecting production sites, introducing new features into the system, and other important decisions.
ælf: the next breakthrough in Blockchain
What problems does Aelf solve?
The current problem, which prevents large-scale commercial implementation of Blockchain technology, lies in its inability to meet the requirements of various complex business scenarios. “One size fits all” Blockchain faces tough dilemmas to balance the needs of different business scenarios. For example, issuing digital tickets or processing payments requires a large number of transactions per second, while digital legal contracts will emphasize high security and reliability. In an ideal world, there will be one block, which will have high efficiency, flexibility, adaptability, and compatibility.
However, the fundamental nature of the development of technology is usually not suitable for one complete solution of everything. In particular, with blockchain, it is currently impossible to provide all these solutions due to a number of problems, including Block inflation, Protocol dilemma, transaction speed, and scalability.
Ælf offered one platform that will serve as the operating system for all smart contracts without performance hiccups. For example, if Cryptokitties works in one side chain of Ælf, other Smart Contracts will work smoothly on other chains. In addition, the operating system usually has the powerful processing power to handle complex transactions. Ælf achieves this goal by including nodes in a cluster of computers, processing transactions in parallel, rather than linearly.
It’s easy to see that the name of the coin is a bit difficult, which can make it difficult to promote the project. True spelling does not contain the letters A and E. This is one letter: “æ”. But let’s focus on the details because ælf has an efficient parallel processing mechanism to suit the commercial application. No more problems with system overload when selling Token Sale in the system. There are also different types of nodes, and all nodes are equal, and nodes are classified according to their roles.
High performance. Full sites work on cloud servers;
Segregation of resources – each smart contract operates on its own Blockchain;
Management and development – the owners of tokens vote for making decisions and representatives.
To create a basic blockchain for a large-scale commercial application and allows you to communicate through existing as well as new blockchain.
A multi-level blockchain infrastructure that connects both private and consortium chains.
Infrastructure has two levels: the main chain with the mechanism of consensus DPOS and side chains with customized consensus mechanisms
The core chain uses the Merkle Tree format to exchange information between side chains, as well as public blockchains, such as Bitcoin and Ethereum
Each side chain can support special smart contracts
How is Aelf different from Polkadot?
Both are multi-chain systems
Both provide opportunities for scaling
Both focus on management solutions
Vision: Polkadot is a website where all individuals and data are securely protected from any central authority. AELF, on the other hand, wants to build a blockchain ecosystem suitable for any industrial problem.
Structure: Polkadot creates an environment for several state channels, while AELF provides the core chain + side-chain architecture that coordinates homogeneous networks with various Smart Contracts.
Focus: Polkadot connects different circuits, while AELF creates a homogeneous environment in which performance is increased through parallel processing.
Scaling: Polkadot is designed to develop, deploy and interact with a blockchain that implements scaling and expansion. Polkadot allows the assimilation of a new blockchain technology without excessive complex decentralized coordination on rigid forks. However, Grid improves scalability by extending the capabilities of the nodes. AELF also seeks to extend this to the cloud service.
The best part of Polkadot is the original design of a heterogeneous multi-purpose structure that most improves interoperability and expandability.
The most exciting part of the Grid is a brilliant structure that uses parallel computing to meet business needs.
The AELF Ecosystem is designed for industrial applications. “One size fits all” Blockchain faces tough dilemmas to balance the needs of different business scenarios. For example, issuing digital tickets or processing payments requires a large number of transactions per second, while digital legal contracts will emphasize high security and reliability. In an ideal world, there will be one block, which will have high efficiency, flexibility, adaptability, and compatibility. One Blockchain cannot meet all the different requirements. Multipurpose structure of AELF can.
Advantages of Aelf
An important strong problem that solves fundamental problems for the main application of blockchain technology.
The team has extensive experience in the field of entrepreneurship, connected with blockchains, with a competitive technological base and extensive industry resources. The infrastructure design is also robust and has great potential.
Undervalued market capitalization.
A very long period of locking the tokens for the team, the fund and advisers (2-3 years).
Smart marketing, intelligent use of airdrop for marketing purposes.
Strong investors – FBG, 1kx, Draper Dragon and others.
An example of a recent partnership is the cooperation between FBG, AELF, and Decentraland. The goal is to build a digital city called Crypto Valley.
“In recent years, investment grew Blockchain, but the fact that the projects are based in different parts of the world creates barriers to communication. Crypto Valley will provide the best way to meet with the community regardless of geographic location, “- said Shuodzi Zhou, founder of FBG Capital.
Blockchain markets are globalized, but it not always easy to communicate with the teams, investors, and communities.
- Useful links
Ma Haobo. Founder ælf, founder / CEO of Hoopox, an expert at Blockchain, early introduction of digital assets,
ex-technical director of GemPay, AllCoin. He is also a member of the Blockchain Commission of Experts for the Chinese Institute of Electronics.
Chen Zhuling. A graduate of the Massachusetts Institute of Technology, a veteran of the consulting company Roland Berger, advised several MNC and government.
Fu Li. Software engineer PolyU, KOL of Github, an expert in IT solutions for communications networks, navigation systems, and mobile games.
Yang Yalong. PhD at Monash University, specializing in the visualization of geospatial data and transaction network data.
His research is published in well-known periodicals.
Liam Robertson. CFA, CAIA. Liam is one of the largest private and corporate traders of Cryptocurrencies in Europe and the Middle East. Certified investment manager in the UK, founded one of the world’s first regulated hedge funds Cryptocurrency in 2016. As the founder and CEO of Alphabit Limited, Liam now advises a number of funds, family offices and innovative enterprises of Blockchain.
Zhou Shuoji. FBG Capital is a founding partner with extensive experience in digital assets and investments. He is also an early investor in a wide range of blockchain companies and projects. He is considered one of the most well-connected and visionary hedge fund managers in Asia.
Kenneth Oh. The senior partner with Dentons Rodyk & Davidson corporate practice and China / Indonesia practice. Kenneth specializes in corporate finance, having almost two decades of experience working with venture capital, private capital, IPO / Token Sales and post-IPO / Token Sale financing, as well as mergers and acquisitions. Kenneth admires his quickness of mind and is considered a legal guru in his field of interest.
The first addition to the exchanges: December 21, 2017 / Price: 1 (ELF) = 1.1 $
“We distributed 250 million ELF tokens to collect 55,000 ETH (before the ETH price exceeds 450 US dollars). We would like to thank the global community of cryptologists for their trust in our project, working through this process with us and for their continued support. Welcome to ælf! “(Medium. Com)
There was no ICO, only private accommodation
There were 250 million ELF tokens distributed in exchange for 55,000 ETH
Total supply – 1B ELF tokens and distributed according to the following pie chart
The Fund has a 3-year freeze period
The team has a 2-year freeze period
Advisors and partners have a 2-year freeze period
The sale of tokens began on November 28 in New York.
During the consensus of Invest 2017, held on November 28 in New York, one of the founders of the ælf team, Zhulin Chen, officially introduced our project to the public and launched the sale of tokens.
No ICO, only private accommodation
The Ælf team always wants to conduct an honest and transparent sale of tokens. We decided to abandon the popular model of selling public tokens and focus on attracting suitable investors to private hands. It has several advantages: firstly, the limit was sufficient for financing by long-term investors. Secondly, private placement allowed better compliance with investment rules, as we conducted KYC for all investors, mostly accredited investors with a record volume of investments in tokens.
Without an increase in the number, despite the fact that within 2 weeks, six times exceeded, we place 25% of ELF tokens for private placement. The remaining tokens are planned as follows:
Marketing / Landing: 12%
POW + Pos: 12%
Advisors + Partnership: 10%
The private placement of Ælf Token adopted a flat pricing policy. Unlike some projects that provide a monetary incentive based on the size or timing of investments, we offer all investors the same transparency conditions. We wanted to attract the right type of investors who agree with our vision, instead of using a discount or a bonus to create an arbitrage opportunity.
From the very first day, we received tremendous requests and commitments from various investors around the world. By December 10, almost three weeks before the scheduled closing date, we collected a commitment six times greater than the estimated amount of ETH. Although it is flattery to see the oversubscription, the team was firmly behind the decision that we will remain the original goal of the ETH to protect the interests of investors. In order to attract as many investors to the market, we have significantly reduced the average distribution size to cover a more distributed group of investors.
Top-level investors and truly global support
The number of commitments from top-level investors around the world was definitely encouraging. To name a few from the list of investors: the capital of 1kx, Alphabit, BlockTower, FBG Capital, Galaxy Partners, Hashed, Hyperchain, LinkVC, Signum Capital, etc.