aelf (ELF) is a new cryptocurrency that was developed in China and released in the mid December 2017. It is among the newest brand of crypto coins in the market. It started being listed in most trading platforms as from 21st December, 2017.
aelf (ELF) blockchain structure
The developers of aelf were looking to establish an ecosystem that was efficient for a variety of commercial requirements.
aelf comprises of a highly competent multi-chain level processing structure with a cross-chain communication and dynamic governance. Its structure consists of a main chain and several other side branches attached to the main chain (the backbone of the blockchain). The side chains are also multi layered.
The main chain usually has the record of the side chains. The side chains are able to interact with each other via the main chain through an external information input. The side chains interact using the Merkle tree and verification model. Therefore, side chains can’t communicate directly, enabling a side chain to be excluded or included in the system if the need arises.
The most unique aspects of aelf ecosystem is the use of scalable nodes on a group of computers, one chain to one contract technology and voting via token holders.
ealf ecosyemtem uses ELF Tokens.
Scalable nodes on a group of computers
Nodes in this case refer to mining machines.
Most cryptocurrencies have unscalable nodes where the performance of one node (mining machine) is left to determine the performance of the whole system. However, in aelf ecosystem, there are a number of nodes spread on the various side chains on various computers, hence making the nodes scalable.
Also, every node is supposed to handle only relevant information so as to ensure that the nodes are lighter and compatible with common computers or mobile platforms.
One chain to one contract mechanism
Each of the side chains in the aelf network is dedicated to one specific type of transaction and can only resolve a specific type of business oriented problem. This is different from other cryptocurrencies where one chain is left to handle any type of contract that comes along.
By using one chain one contract mechanism, aelf is able to have an easily manageable structure which is tailored towards meeting the requirements of the commercial world.
Voting via token holders
This mechanism is also referred to as Delegated Proof-of-Stake (DPoS).
In DPoS, the coin/token holders vote for delegates who then validate the transactions within the blockchain. Compared to the PoW, DPoS saves on energy costs and also promotes decentralization.
Where can one get aelf (ELF)?
If you want to purchace aelf (ELF0, you can get it on a number of exchanges among them: CEX.com, Bittfinex, KEX, BigONE, Huobi, BCEX, Binance, coinmarketcap, Bibox, gate.io, KKEX, and OTCBTC.
aelf (ELF) prices
Looking at the historical data of aelf (ELF) prices, it is evident that the coin has a very dynamic market.
When it was first listed on coinmarketcap, its value was $1.10 USD per token. To date, its value has hit an all-time high of $2.60 USD and an all-time low of $0.814893 USD. But as at 26th January, 2018, the value of one ELF was $1.92 USD.
Looking at its charts, it’s a perfect crypto coin to use Elliot wave theorem technology to analyse its price movements since its price action is characterised by successive wave formations.