Overview: aelf (ELF) the Decentralized Cloud Computing Blockchain N...

Hi,

I am Crypto Coins and I make videos ;-)

In this episode I am looking at aelf (ELF) the Decentralized Cloud Computing Blockchain Network

Aelf is a decentralized cloud computing blockchain network.

The team behind Aelf is trying to create a highly efficient and customizable blockchain OS and become the "Linux system" in Blockchain community. It also interact with other blockchains via chain messaging.

The biggest use case of Aelf is the cross chain interaction: Aelf will interact with Bitcoin, Ethereum and other Blockchain systems.

Ultimately it will be forming multi-level cross-chain structure based on cross-chain interaction similar to Ark and Polkadot but mostly concentrating on Chinese and Eastern markets.

It will also use side chains similar to Ardor and Icon. They will be deployed dynamically and classified depending on the purpose and include asset ownership chains, asset distribution chains and decentralised exchange chains.

All Aelf side chains will accept ELF token as storage of value and means of value transfer. It can be transferred across chains that accepts ELF Token.

It will be used to pay for resource fees used in the network, things like operating and upgrading of the system, deployment of smart contracts and as transaction fees, and cross-chain data transfer fees.

The token will also allow the community to vote on decisions such as introducing new features, electing mining nodes and any type of decisions that should be decided via voting.

They are based in China (but might be registered somewhere else obviously).

They held an ICO where they raised 55K ETH but that was before ETH was $500.

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