ELF piqued my interest because it was a cryptocurrency that showed up on binance with little to no information almost instantly. I figured this would get some people excited/interested so I started to watch. It was a volatile ride for the first hour or two. In the mean time I started doing my research about the company behind the currency.
I read the aelf bio on binance (source:
https://support.binance.com/hc/en-us/articles/115003576372) and found out about their main idea and it made a lot of sense specifically this part of the bio ("ELF tokens are used to pay for resource fees used in the network, such as deployment of smart contracts, operating and upgrading of systems (transaction fees, cross-chain data transfer fees). It also enables the community to vote on major decisions, such as electing mining nodes, introducing new features to the system and other major decisions.").
In another article (source:
https://www.crowdfundinsider.com/2017/12/126194-40-million-private-placement-ico-aelf-raises-55k-ether-private-token-sale/) "Ælf says with Blockchain, it’s currently not possible to provide all of these solutions due to a number of issues, including: Block Inflation, Dilemma of Protocol, transaction rate, scalability and more. Ælf has proposed one platform to serve them all."
It seems almost intuitive that a system like this would be a major strength for cryptocurrencies as a whole, both in establishing structure and legitimacy.
Then I read about the fundraising round that had already received $5.2 million dollar in funding and was shocked to find that the investors "did not receive a discounted rate nor any sort of bonus which is a bit unique for the tokenized security space." Maybe I'm reading too much between the lines, but if these investors came in without a discount/bonus they MUST see Major potential in ELF.
The fact that the ICO was oversubscribed by 5 times was EXTREMELY encouraging.
I decided to join the speculation. Nothing too crazy, but approximately 8000 coins at an average entry of 0.00005300 BTC.
If this company accomplishes a fraction of what they are setting out to do then I expect big things from them.
I can see speculation taking them up to $1.80-$2.00 in the short term and hopefully much higher if they can establish what it is that theyre trying to.
But beware, Cryptocurrencies are volatiles and can fluctuate dramatically
If you are interested in this coin, I recommend you read their white paper. (
https://grid.hoopox.com/%C3%A6lf_whitepaper_v1.2.pdf). It is interesting. Especially their take on the current state of cryptocurrencies and what their limitations and weaknesses are.
Good luck to all who decide to join for the ride. I would love to hear other opinions, both pros and cons.
