AELF - Virtual Universe for Business

[annstasia009]

Aelf is a decentralized blockbuster platform that provides ample opportunities for running business and launching smart contracts. The goal of the project is to create a single infrastructure for different types of companies, where you can choose pre-prepared scenarios and business models, as well as choose the creation of turnkey organizations. The team intends to implement it in the form of a single ecosystem, which would reflect the interaction between companies in the real world. To date, operating systems do not allow you to create and run applications using smart contracts, and the blocking of many digital start-ups does not have enough bandwidth for a large volume of transactions. The Aelf platform intends to become a full-fledged operating system like Linux, where each company will conduct its business in a separate blockbuster. This solution will avoid problems with scalability, increase the efficiency of interaction between system participants and reduce the load on the network. An ELF token has been created on the platform to serve the entire ecosystem.

Aelf is a young Singapore project with Chinese roots, which is in the initial stage of development. As partners ELF team attracted such companies as Decent, Theta and U Network. The platform's investors are more than 20 private organizations, including Block Tower (USA), Alphabit (United Kingdom), Hashed (South Korea), Galaxy Partners (USA), FBG Capital (Singapore), Signum Capital (Singapore).

 Platform Features
Aelf is a concept in which the main blockage is the main branch that has many branches - sidechains (side chains) for launching smart contracts. The main block system is the center of the entire infrastructure of the network and interacts with both internal side residents and external blockers of other projects. Cross-channel interaction is realized by exchanging messages with external blockers, such as Ethereum, Bitcoin and other systems.

Each sidechain is intended for a certain type of smart contracts, distribution of tasks to other chains, and increased efficiency of transaction processing. Information exchange between the side chains is not directly possible and passes through the main block.

Scalable performance is achieved through the structure of the Aelf kernel, which allows each node to work on its cloud server. When a new node connects to the network, it not only increases its security in general, but also proportionally increases the speed of transactions in the system.

The platform supports parallel processing for non-competing transactions and cloud services, in which all information exchange in the system takes place simultaneously and does not overload the network. When a new block is created, nodes assign a transaction to different structure groups using a mutex, a method of synchronizing concurrently executing threads. Thus, transactions within a group are processed sequentially, but all groups, working in parallel, are able to transfer large amounts of information between network members.

The consensus protocol allows users to participate in voting on changes in consensus, including its revision in general, and also allows side chains to dynamically join the main blockage or leave it. The principles laid down in the consensus are intended to stimulate competition among the sejchians, and also to increase the effectiveness of their work
Mining
Aelf nodes must handle large amounts of data coming from an unlimited number of side chains, and transfer them to the main block system of the system. For the best effectiveness of this process, the project team chose a consensus type called DPoS - delegated proof of shareholding, since other PoW proof principles and proof of PoS ownership do not meet the needs of the platform ecosystem. DPoS allows ELF owners to participate in the process of voting for the selection of a particular node, which should become a miner with the functions of transaction confirmation, block formation and data transfer. Nodes-miners decide how the coins they earn will be distributed among the remaining nodes involved in processing the system data and the owners of the shares. This approach, on the one hand, ensures fair and equitable participation of all users of the ecosystem, and on the other - stimulates competition in the struggle for the right to become a miner, among which the most productive and fair nodes are selected. All this has a beneficial effect on improving the efficiency of the platform and its enrichment in general. Another plus of DPoS is to reduce the risk of taking a critical share of coins in order to commit fraudulent acts against members of the system or platform. The number of producing nodes of a network is defined by the formula 2N + 1, where N starts with 8 and increases every year by one. The project provides for the possibility of mining on sajdecins with the PoW principle, but the project team recommends combining the extraction of coins with the main block and developing its own consensus protocol. Motivation for creating your own consensus is the ability to design it so that it fully meets the needs of the company. Start the production of coins by running a cloud node or equipment for mining (GPU and PC) will be in the 3-4 quarter of 2018.

Distribution of coins
In December 2017, the project team sold 250 million coins to private investors, which amounted to 25% of the planned emission of 1 billion tokens. During the bidding Aelf collected 55,000 ETH for two weeks. The project was so popular that the team had to refuse to participate to some investors after the target amount was reached. The allocation of ELF shares is planned as follows:

10% are reserved for two years for advisers and partners with payment of equal shares in each half-year.
12% will be realized within 3 years for marketing and airdrop.
16% are reserved for two years for the Aelf team with payments in equal installments every six months.
25% is sold to investors.
25% are reserved for three years for the project fund with the goal of creating an ecosystem, supporting marketing and developing an ELF project.
12% are allocated for mining for 100 years with a gradual reduction of the award.
 Crypto currency
The coin was presented to the public at the end of 2017, at the time of the start of its trading on the crypto-exchange markets. Since the project team did not conduct ICO and the sale of tokens to investors was not widely publicized, the public reacted to the appearance of the coin by a rapid rise in the price of Aelf. On the first day of trading, ELF started to move from the markings of 1.1 USD and 0.00007125 BTC and in January reached its highs at the levels of 2.59 USD and 0.0001630 BTC, showing an increase of 235% in dollars and 228% in BTC. At the time of writing (end of April 2018), according to the CoinMarketCap service, the coin is quoted at $ 1.09 USD and 0.0001222 BTC with a total capitalization of $ 271.9 million. The largest volume of trading falls on the Binance and Huobi exchanges, the total trading volume is 55.9 million dollars per day. Elf is available on 19 crypto-exchange markets. Of the maximum planned emission of coins in 1 billion to date, 280 million have been issued, of which 250 million are in circulation.
Forecast for the future
It is too early to speak about the success of the Aelf project due to its novelty. However, the fact that large investors have become interested in the platform and the team has already established numerous partner relations, speaks of great prospects for achieving the set tasks. The ELF team is quite numerous and consists of serious scientists, leading developers and well-known consultants. The idea of ​​the project looks very attractive for the business sector, as it responds to the requests of companies in a separate unit for each organizational unit, providing high security, scalability, flexible system settings and efficient management. Important advantages for investors and the image of the platform as a whole are the academic approach to writing WhitePaper Aelf and the road map with its clearly stated goals and specific deadlines for their implementation. The active position of the team regarding marketing and attracting partners suggests that the price for the ELF crypto currency will show good growth over time, and intensive work on the development of the platform in fairly short time frames indicates the seriousness of the intent to make the Aelf platform popular and really successful.
Who likes to mark it with a merit)))

[prabhapriya019]

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[Acex29]

I used to take part in the bounty from this campaign. Bounty will go even a few years. I was very wary and I stopped participating. Today I saw the aelf token on the exchange. Now I think about returning to the project.