AELF is a crypto that aims to solve both scalability and cross-chain communication by introducing the concept of parallel sidechains. It is now a top 70 cryptocurrency and it is steadily rising
One of the biggest names in Cryptocurrency has backed aelf to be the major investment play for 2018.
The CEO of Alphabit, Liam Robertson, who manages the US$300million regulated Alphabit Digital Currency Fund, has said that AELF is his crypto pick for the coming year.
During a press conference in Dubai earlier this month, Robertson predicted that AELF, ( ELF ), will deliver large scale commercial adoption of Blockchain technology and solve major transaction issues through its decentralised cloud operating system. "I think we are witnessing a turning point in the Blockchain industry," Roberston said. "AELF is a new generation of scalable Blockchain computing network, using multi-chain structure and parallel processing to solve issues around efficiency, transaction throughput, and governance."
He continiued: "I think this is the perfect storm of high efficiency, flexibility, adaptability, and compatibility - one Blockchain to bind them, one chain to rule them all, so to speak."
Based in Singapore, AELF launched in December of last year and already has a circulating market capitalisation of USD$425 Million (691 at its peak jan.07)
AELF is trading at around US$1,70 on the Binance Exchange with 24-hour trading volume at an average of USD$46 Million.
"Elf is going to 50 dollars by the end of 2018," Robertson said. "It is already ranked as the #73 most valuable cryptocurrency in the world". (#70 as of this writing)
AELF's cross-chain protocol is solving key challenges current chains are facing, namely limited performance, lack of resource segregation, and a functioning governance model.
"The new technology is keeping an eye on the big picture," Robertson continued. "It allows communication across existing as well as new Blockchains and provides a Linux-like framework for creating and adding new commercial chains onto the ecosystem."
AELF did not engage in a public ICO, choosing instead to raise 55,000 Ether, (before the ETH price surged above US$450).
The private placement took place with leading crypto funds such as FBG Capital, Draper Dragon, Blocktower, AlphaBit, and others.
Now i'd like to take a minute to explain what separates it from some of it's closest competitors. I've seen multiple questions to compare Aelf to different projects (like AION, even SONM). Completely reading through the entire whitepaper of multiple blockchains takes a long time, if demands are high more comparisons could be done :)
【ELF VS CMC】 Cosmos (CMC universe coin) is a continuation of ideas put forward by the multi-chain system, the Satoshi's PoW consensus algorithm replaced by Jae Know's Tendermint consensus algorithm. Tendermint, a Byzantine-fault-tolerant algorithm, is optimized for PBFT and requires only two rounds of voting to reach a consensus. Essentially, it contains multiple blockchains (running in the zone) using separate instances of Tendermint, and a chain of hubs using de-trusted communication. Cross-link communication is limited to the transfer of digital assets, this cross-link communication can return data and path, such as sending the sender information of the transfer status. Aelf's cross-link communication is not only capable of transferring digital assets, but also able to pass any other information. For example, aelf’s sidechains can trigger contract execution on other side chains. In addition, Tendermint did not come up with a parallel processing model on a single chain, so a chain also has its own limitations. CMC performance is limited to a single machine, scalability will only be reflected when using multiple instances of tendermint. Aelf has proposed that parallel processing on a single strand will dramatically increase the upper limit of single-strand processing capacity.
【ELF VS EOS】 Both EOS and aelf have proposed to use parallel processing to handle transactions, but the difference is that EOS only processes in parallel on the main chain, while aelf's parallel processing framework enables parallel processing on all side chains. By doing this, parallel processing will be performed on both the backbone and the sidechains.
【ELF VS ETH】 Ethereum has no scalability, no isolation of resources, and the popularity of CryptoKitties, CryptoZombies and more games to come will block the transfer of the entire Ethereum network. Aelf adopts the architecture of resource isolation to ensure that the surge of traffic on one chain will not affect the efficiency of any other chain.
If you're thinking about investing now, i would highly reccomend that you look through the whitepaper first: https://grid.hoopox.com/%C3%A6lf_whitepaper_v1.2.pdf
This is just a post i made to put aelf (ELF) on your radar. Now you have to decide if this is something for you.
ELF can be picked up on all the major exchanges. I personally prefer Binance.
If you want to get involved with aelf without buying coins, you can now earn them through their ongoing marketing campaign.
I have a referral link if you would like to register: https://candy.aelf.io/account/register?invitationCode=0E0X087T698Y
Sources:
-https://finance.yahoo.com/news/alphabit-fund-reveals-elf-cryptocurrency-142600847.html
-http://www.cleveland19.com/story/37243829/alphabit-fund-reveals-elf-as-cryptocurrency-pick-for-2018
-http://www.wtol.com/story/37243829/alphabit-fund-reveals-elf-as-cryptocurrency-pick-for-2018
-https://www.bizjournals.com/prnewswire/press_releases/2018/01/11/enUK201801117868
-https://travelwirenews.com/alphabit-fund-reveals-elf-as-cryptocurrency-pick-for-2018-632418/
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Great article! There's a part 2! ELF vs XLM, ELF vs IOTA, ELF vs Nano, ELF vs ELA....It stands up too