(Elf) – ÆLF
What is ELF?
Ælf is a decentralized self-evolving cloud computing network. A customizable blockchain operating system. The team aims to be the “Linux OS” of blockchain. By creating a blockchain infrastructure that is suitable for commercial operations. They do this by implementing sidechains, and a unique governance system.
Ælf consists of a single main chain, and multiple side chains to run smart contracts within the system platform. The main chain acts as the backbone of the system and is capable of interaction with other blockchains. Each side chain is connected through the Aelf main chain. Side chains cannot communicate with each other, so they must communicate through a main chain when transmitting information. The Ælf system categorizes chains into two groups. One being external chains such as Bitcoin, Ethereum, Litecoin. The other category is internal side chains that run within the Aelf operating system. Side chains can branch further into sub-chains.
Aelf consists of one Main Chain and multiple Side Chains that are attached to the Main Chain. This differs from most other blockchains systems because Aelf is a “branched eco-system” where the Main Chain works as the backbone of the system and connects to multiple Side Chains.
Aelf is able to connect to other systems such as Bitcoin, Ethereum, Litecoin via adaptor allowing for compatibility with the existing system. Aelf has varying side chains dedicated to one type of transaction. This makes the whole structure of data more simple and tailored to commercial requirements. Aelf uses Side Chain Dynamic Indexing meaning all side Chains are attached to the Main Chain.
The Main Chain contains the index of the system boundaries and records where the Side Chains are. Side Chains in the Aelf system will interact via the Main Chain system in the form of Merkle tree verification. This means Side Chains do not interact directly and allows them to be added or excluded from the Aelf system.
Ælf Delegated Proof-Of-Stake
Aelf uses a DPoS (Delegated-Proof-of-Stake) consensus due to Aelf nodes having the need to record information from side chains onto the main chain a normal PoS or PoW consensus will not work. As a token holder of (ELF), you are able to vote on which nodes become mining nodes, and in return the nodes elected will choose how mining bonuses are distributed to other nodes and stakeholders. Aelf also allows any chain created through the Aelf OS to merge their network mining with the main chain and develop their own consensus protocol enabling them to customize a side chain to a specific purpose.
Zhou Shouji the founding partner of FGB Capital.
The project received relatively considerable investments from large venture capital firms. The ICO for AELF was so popular the team had to turn down a majority of interested investors due to reaching their goal of 55k ETH within two weeks of starting the sale.
Website: Click to see website
Whitepaper: Click to see WhitePaper
Roadmap: Click to see Roadmap
Partners/Investors: Click to see Partners
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