aelf

What is an Aelf (ELF)?

ELF is aelf’s native token, which represents Level 1 Blockchain based on cloud computing technology. It uses a parallel execution system and has built-in cross-chain functionality. If you want to see the current (or previous) price of ELF, check out the aelf price chart above.

The aelf blockchain is built on the basis parent-child chain principle. It has one main (parent) chain and several sidechains (child chains). It allows enterprises to build decentralized applications (dApps) on aelf sidechains with cross-chain interoperability and collaboration capabilities. Additionally, businesses can also create their own blockchains with customized settings and features.

To provide developers with an enhanced dApp creation experience, aelf offers integrated development environment (IDE)which is a set of basic tools for creating and testing software.

Additionally, developers can choose from a variety of management models for its decentralized applications, including the referendum governance model, association governance model, parliament governance model, or simply a custom model.

In addition, in addition to ELF tokens, other types of tokens operate on the aelf network. This includes resource tokens, VOTE tokens, SHARE tokens, and developer-created tokens.

Resource Tokens are required to pay for resources consumed by Aelf chains or decentralized applications. Thus, there are CPU, RAM, DISK, NET, READ, WRITE, STORAGE and TRAFFIC tokens.

VOTING tokens are used to select block validators in the aelf consensus mechanism. SHARE tokens are used to receive sidechain dividends.

Now speaking of developer-created tokensWhat these tokens are is quite clear.

Developed by aelf

Ma Haobo developed the aelf crypto project in 2017. Haobo has a degree in software engineering. Besides being the founder of aelf, he also co-founded GemPay and Hoopox. In addition, he is a member of the blockchain expert committee of the China Electronics Institute.

How does aelf work?

The aelf network uses Delegated Proof of Stake (DPoS) consensus algorithm. DPoS is essentially an improvement on the original. Proof of Stake consensus algorithm. The main difference is that DPoS allows users to choose their representatives to create blocks.

These representatives are called delegates. They must ensure that transactions are confirmed without errors. For confirming transactions and creating new blocks, delegates are rewarded with block rewards. To distribute these rewards, aelf uses dividend pool. The pool consists of block rewards, transaction fees, and transaction fees for resource tokens.

Purpose of ELF Tokens

ELF tokens are the driving force behind the aelf network. Below are the main use cases for aelf tokens:

• Control token. By staking ELF tokens, users can become nodes and participate in the governance process of the aelf network.
• Payment token. ELF tokens are used to pay sidechain index fees as well as transaction fees.
• Resource token. ELF tokens are used to purchase resource tokens.
• Reward tokens. ELF tokens are used as block rewards for delegates.

Also, be sure to take a look at the Aelf price chart above as it displays the current price of ELF.

ELF Tokenomics

The maximum supply of Aelf tokens is 1 billion. A private sale that took place in December 2017 was the only way to acquire ELF tokens after their launch. 25% of the total supply was spent on this sale. A further 25% was reserved for the aelf Fund with a three-year lock-in period. The remainder was dedicated to the aelf team, consultants, partners and marketing goals.

Just keep in mind that the price of ELF tends to fluctuate a bit. This is important to understand if you plan to buy aelf tokens. If you want to see the underlying patterns in aelf price fluctuations, take a look at the above price chart.