About aelf

Aelf Review: Mining Guide, Price & Analysis of the Elf Cryptocurrency

Aelf is a blockchain project that offers a decentralized cloud computing solution. This is a very innovative blockchain project. It consists of one main chain and several sidechains. This allows developers to deploy decentralized applications in an isolated environment.

Additionally, this gives the blockchain high performance. The parallel structure of this blockchain allows it to achieve higher throughput. Hence, it solves one of the biggest problems facing blockchains. It has excellent scalability. This makes it ideal to use in many different sectors.

Aelf’s mission aligns with the original vision of cryptocurrencies. It removes the need for central institutions in operations. In this case, there is no need for an institution providing cloud computing services. Hence, users have total control of the data on the blockchain. Additionally, they have full control of the development of the blockchain.

Aelf is competing with industry households in Ethereum and EOS. These two are better-established, offering stiff competition. However, Aelf is unique in that it uses mainchain and sidechain architecture.

How Aelf Works

Aelf is a revolutionary blockchain due to the architecture it uses. It is the next evolution of Ethereum-like blockchains. It uses a mainchain sidechain architecture in its operations. This gives it a parallel outlook. This parallel nature helps the network operate with high efficiency. It can process decentralized applications in isolated environments.

Additionally, Aelf supports cross-chain transactions. It can easily interact with blockchains like Bitcoin and Ethereum. This allows for the sharing of information and digital assets. Moreover, it means that businesses can easily transact even when on different blockchains.

Further, Aelf has private chain modules. This allows developers to build sidechains to host their applications. This means that their applications can run in private environments. The developers, in this case, gain full ownership of the sidechain they develop.

Even better, Aelf supports smart contracts. However, this is a little different from what we have on the Ethereum blockchain. Aelf does not use the one fits all smart contract solutions. The blockchain allows each business to issue unique smart contracts efficiently. Therefore, one business’ operations do not affect other businesses. This is a problem in blockchains that use the same smart contracts throughout.

Can Investors Mine ELF Coins

No, it is not possible to mine Elf coins. This is because the blockchain does not use a consensus algorithm that supports mining. It uses the Delegated Proof of Stake consensus to maintain security. 

In this consensus, users can outsource the validation work to validators. They do this through a staking process. By doing this, they show that they trust the validators. In turn, the work of validators on the network is to verify transactions on the blockchain. Some people believe this is a safer consensus mechanism than the Proof of Work consensus. This is because it is immune to 51% attacks and double spends.

However, it is essential to know that this consensus only applies to the mainchain. Developers can choose which consensus they use on their sidechains. Much like other things, this is also customizable on the blockchain.

The Team behind Aelf

Aelf has one of the best teams in the blockchain sector. Aelf has a diverse team made up of seasoned professionals in technology solutions. The founders of this project are Ma Haobo and Chen Zhuling. 

Ma serves as the CEO of the company. He is a blockchain expert who also founded Hoopox. He is one of the earliest adopters of digital assets. Additionally, he is an Executive Member of the IEEE C/BDL committee. Prior to Aelf, he served as the CTO of GemPay.

On the other hand, Chen serves as the COO of the company. He also has tons of experience in leadership and tech solutions. He is a consulting expert at Roland Berger. Additionally, he advised multiple MCNs and governments.

It is safe to say that Aelf is in safe hands. The leadership of these individuals is enough for any tech company. Moreover, the team consists of more team members who are equally experienced. 

Elf Performance

The Elf coin has a relatively encouraging performance in the markets. It currently ranks 177th in market cap share. Its market cap currently stands at $49,124,920. This shows that it has an excellent potential to grow. Its unique approach may lead to it realizing more adoption.

Additionally, this coin has excellent liquidity. Its 24-hour trading volume stands at $15,456,871. This shows that this coin is easy to exchange for other crypto-assets and cash. 

Privacy and Security

Aelf has great security and privacy features. For starters, it is a blockchain project. Therefore, there is no central database to attack. Moreover, distributed nodes in the network contribute computing power to help secure the network. Thus, an attacker would require high computational power to break into the network.

Additionally, this blockchain is immune to 51% attacks and double spends. This is because validators in the network have a stake in it. Therefore, it makes no sense for them to attack it. It would be too expensive for them to do this. Moreover, the developers regularly audit the network to ensure there are no vulnerabilities.

Further, Aelf has excellent privacy features. Developers can choose to run their applications on private sidechains. This means that they will be free from censorship and third-party intrusion. This is very appealing and can attract many businesses to use the blockchain.

Our Take on Aelf

Aelf is a very interesting deployment of blockchain technology. It uses a mainchain sidechain architecture to implement parallel computing on the network. Therefore, decentralized applications can run in completely isolated environments. This dramatically improves the efficiency and scalability of the network.

Furthermore, this project is in the hands of professionals with tons of experience. Therefore, users can be sure that its evolution will be smooth and steady. Even better, this blockchain is highly customizable. It allows users to tune side chains to fit their requirements. They can even customize governance on their applications.

Advantages

• Aelf uses parallel computing.
• It is a highly customizable blockchain.
• Decentralized applications can run in isolated environments.
• Developers can launch applications on private sidechains.

Disadvantage

• Aelf has aspects of centralization.
• Stiff competition from better-established projects like Ethereum.

How to Purchase and Store Elf Coins

If you like what you see with this cryptocurrency, then go ahead and buy it. You can easily do that on several exchanges. These include Bitfinex, Upbit, Huobi Global, and OKEx. The current price of one Elf coin stands at $0.106569.

You can hold this coin to sell at a later date. For that, you will need a cryptocurrency wallet. Some of the best wallets to use include Ledger, Trezor, Trust Wallet, and Atomic Wallet.

Final Verdict

There is no denying the economic and social benefits of the Aelf blockchain. It removes the need for central institutions in cloud computing services. Its unique approach helps to improve the efficiency of the blockchain dramatically. Additionally, it gives it great scalability.

However, this blockchain is competing with household name projects in the industry. These include Ethereum and EOS. It is impossible to see how it can catch up with such projects. Nonetheless, Aelf has excellent potential in the market. It has great adoption and liquidity.