Aelf Price Chart and Latest News
Published on Feb 21, 2020
ælf, is a decentralized self-evolving cloud computing network. To establish a Blockchain infrastructure for various commercial requirements, ælf provides a highly efficient multi-chain parallel-processing system with cross-chain communication and self-evolving governance. It brings three innovations namely scalable nodes on cluster of computers, resource isolation for smart contracts via “one chain to one smart contract” and voting through token holders.
ELF tokens are used to pay resource fees in the system, such as deployment of smart contracts, operating and upgrading of systems (transaction fees, cross-chain data transfer fees). It also enables community to vote on major decisions, such as electing mining nodes, introducing new features to the system and other major decisions.
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Ælf can interact with Bitcoin, Ethereum, and other Blockchain systems. Cross-chain interaction with mainstream Chains can be realized through messaging. It will also form an endogenous multi-level cross-chain structure based on cross-chain interaction, in order to share digital assets, users and information
The core principle of Ælf is to resolve practical technical problems using solutions that have already been tested. Instead of “optimizing” the concepts of Blockchain, more attention is paid to provide a mature configuration for the stable execution of business applications.
To protect Smart Contracts from unnecessary mutual interference and maintain their stable running on Blockchain, Ælf abandons the one-chain-fits-all solution and design a public Blockchain that is able to ensure proper running of each contract. Ælf will be a cloud-computing platform similar to AWS. No business would like to be disturbed by other businesses. For example, trades in a future market should not be interfered by the traffic generated by the Black Friday. However, this seemingly impossible interference is commonly seen in the domain of Blockchain. So the key obstacle preventing Blockchain technology being applied in real cases lies in its initial design.