What Is the Aelf (ELF)?
Aelf (ELF) is a blockchain-based OS similar to Linux. This means it’s not meant for technophobes, but a million flavors may be created from it. Android, iOS, Unix, and Windows all have their roots in Linux, which was built long before you or your parents ever got online. It was initially developed on the Ethereum blockchain but migrated to an independent mainnet in March 2019, at which time a token swap was held.
ELF is the native cryptocurrency used by Aelf for tokenized transactions. Side chains can reduce (or increase) transaction fees, depending on the developer’s choice. This creates a blockchain mesh network that can allow decentralized applications (dApps) and other development on top. It is competing with projects like EOS and Ethereum itself to create the Facebook or Windows of blockchain.
Who Is Aelf?
Aelf was Founded by Ma Haoba, a veteran in the tech industry. The advisory board includes TechCrunch Founder and CEO J. Michael Arrington and FGB Capital Founding Partner Zhou Shouji. The project is also well funded, with major blockchain and tech investors on board. This leads the team to form strong partnerships with projects like Decent, Theta, and U Network, while also winning regulatory approval from tough governments like China.
Use Cases of Aelf OS
Aelf OS is meant to glue together a fragmented global blockchain industry. App marketplaces and money flow has long been a war between companies looking to make a profit. Video game console companies Sony, Microsoft, and Nintendo just barely started cross-platform play, and hardware differences mean developers need teams for each console. Then there are the Valve, Oculus, Gear, and other VR marketplaces.
And we have Apple, Windows, and Android marketplaces for software as well. Each requires its own development. This means a legacy tech app needs at least a dozen skilled developers in a dozen platforms and coding languages just to get started gaining market share. That’s before we even add blockchain protocols and languages like Solidity.
Projects like Aelf are trying to unify the chaos to create a mainstream sensation in blockchain.
How to Mine ELF
ELF is mined using a Delegated Proof-of-Stake (DPoS) consensus algorithm. The Foundation also regularly airdrops rewards for a variety of community tasks. The maximum supply of Aelf is 1,000,000,000 ELF.
It reached an all-time high value of $2.77 on January 7, 2018, according to CoinMarketCap.
Learn More About Aelf
If you want to learn more about Aelf, check out this comprehensive intro guide at Coin Central which is more reputable than many blockchain/cryptocurrency publications. Or check out this comprehensive analysis report on the Golem blockchain project on Thought for Your Penny.