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When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of Aelf.
Based in Singapore, Aelf is a cross-chain blockchain protocol that intends to become the infrastructure to support decentralized applications (Dapps). While they have not shared exact dates, the company plans to build cloud-like operating system that acts like a ‘central business district’ for all blockchains to connect.
It will consist of one main-chain and various side-chains. Using Cryptokitties as an example, Aelf says this Dapp could run on a side-chain of its platform, very much like Lisk. Other applications would be running smoothly on their own side-chains without interrupting each other. This was a problem when Cryptokitties gained massive traction, transaction pending on Ethereum increased sixfold.
As they are segregating smart contracts and various other resources by using side chains, the blockchain will solve the scalability issue that many others often face. Further, their DPoS (delegated proof-of-stake) consensus method will enable a much more flexible governance model.
Aelf will use their ELF token to pay transaction fees from the side-chains to the main chain for the indexing itself. The bigger the side chain’s contribution to the main chains, the smaller the transaction fees. Subsequently, side-chains will be able to charge their sub-chains fees for operating on their framework.
Aelf is following the newest trend of creating scalable and flexible main-chains that have the capacity of growing fast without capitalising on the blockchain’s performance. Very similar to Storecoin with their governance model, we believe that these types of blockchains will survive the weeding of not-so-stable technologies we are seeing in the crypto-space today.
Finally, if you have concluded that this is the coin for you, congratulations! Buy Aelf here.