Aelf is celebrating its first year of existence on 12th September, in Singapore. Let’s have a look at its wonderful journey so far.
Aelf is a project that I hold very close to my heart, as Aelf was the first cryptocurrency Alt token I owned. Another reason is that I firmly believe it’s a sleeping giant, that will one day lead the blockchain revolution.
If you are still not much aware of the Aelf project, let me give you a short introduction.
Aelf — The Linux of Blockchains !!!
Currently, there are three core issues, that are plaguing the existing blockchains.
- Scalability(Majority of existing blockchain performance depends upon a single node)
- Resource segregation( The entire system gets clogged if any contract takes too many resources in the main chain)
- Adaptable governance model( Remember the clash of BTC and BCH fanboys)
To tackle the above-said issues, Aelf introduced Side chains ( The basic infrastructure includes one main chain with multiple side chains attached to the main chain. The main chain makes a record of the location of the different side chains. The side chains interact with one another via the main chain with Merkle tree verification) and Parallel processing (for non-competing transactions and cloud-based service) to improve scalability and a unique governance system called DPoS ( Every coin holder is a decision maker)which helped to resolve the problem.
Enough has been written about why Aelf can be the right candidate for real-world use cases, I don’t want to dig deep into that. Since Aelf is celebrating their first anniversary on 12th September 2018, I will try to collate the important developments of Aelf one year journey in this article.
The Journey Begins !!!
“A journey of a thousand miles begins with a single step”- Chinese proverb.
True to the essence of the above proverb, The journey of Aelf began on 12th September 2017, on that day Aelf whitepaper was released. The project was named as Grid and the ambitious journey to capture the Blockchain world began.
Rebranding and Positioning !!!
As I have mentioned above, The project started the journey as Grid, but since there was another project by the similar name “Grid +”, the project was rebranded to Aelf in late November 2017, to clear the confusion.
One more issue that came up in the initial days was the proximity to Polkadot project which had an almost similar multi-chain system. But the team was quick to respond and was able to convince the community that both are different projects.
If you look at the status of both the projects (Grid+ and Polkadot) as of today, both are still struggling to make a mark, whereas Aelf has achieved so much in this short period of time.
Aelf Token Sale !!!
To have a fair and transparent token sale, Aelf went with Private Sale model rather than having an ICO. The target was set to 55,000 ETH (250 Million ELF tokens) and the Sale was oversubscribed by 6 times.
The Investor who participated in the sale includes 1kx capital, Alphabit, BlockTower, FBG Capital, Galaxy Partners, Hashed, Hyperchain, LinkVC, Signum Capital, etc.
For private sales, only 25% of ELF tokens were offered. The remaining tokens are planned as below
Exchange Listings !!!
On 21st December 2017, Aelf was released in 6 exchanges, which included top-rated exchange Bianace and Huobi. Within 1 year of existence, ELF token is listed on over 20 exchanges including 4 of the top 5 by trading volume. ELF can not only be purchased with BTC and ETH, but also fiat currencies, such as USD, AUD and KRW.
The ICO price for Aelf was $0.09.Currently, Aelf token is trading in the range of $0.45 to $0.35. The ATH Price for the token was $2.77 which was registered on 7th Jan 2018. It good to see that the project has generated strong ROI for the investors even in a bear market.
Exciting partnerships !!!
2018 was an exciting year for Aelf in terms of Partnerships. Aelf made it to the internet headlines during the last 1 year more than several times, mostly when exciting partnerships were announced. Notable partnerships included SEC-regulated Republic Platform, Gaming platform Fair.Game, Theta Token, DATAx, Decent Foundation, CNN etc
Marketing & Community Activity !!!
Currently, the main website of Aelf (https://aelf.io/) can be read in 8 different languages. Other major updates about Social Media reach can be summed up in the below-given picture
One of the most important element of Aelf Marketing push is the Aelf (ELF) Candy Program. Unlike other bounties that run for a short period, what makes Aelf bounty unique from others is the sheer length. The bounty will be running for a 3-year period and the tasks designed are simple that anyone has the opportunity to earn tokens. If you have not registered, click here.
Aelf Testnet: The Jewel of the crown !!!
On 8th of August 2018, the aelf development team announced the first results of the aelf testnet v1.0. The initial testnet achieved 15,000 transactions per second (TPS), which is an important development in the commercialized application of public chains. This is the key milestone for the year 2018 and once the mainnet is expected to be launched in 2019, nothing can stop Aelf from being the right candidate for Industrial wide usage.
If you want to read more about testnet, click here to find some more depth data report.
Let’s celebrate !!!
If you want to know more details about the latest updates on Aelf Testnet as well the future plans regarding Aelf, then there is a golden Opportunity.
On 12th Septemeber 2018, Aelf will be hosting it’s One Year Anniversary Meet-up Event in Singapore. The event will be Co-sponsored by BlockConnectors(which is a is a one-stop solution for blockchain advisory services in Singapore)& Ucommune ( leader in offering co-working space solutions).
The meet-up will be attended by most of the Top names from the Aelf Team. In the event, Mr Zhuling Chen will be providing you with a snapshot of the past 1-year journey.
The event is absolutely Free and If you feel you wish to attend, Click here to register.
If you are unable to join, you can still enjoy the YouTube livestream which will start at 7pm (SG Time), 12th September 2018. Click here to watch live
— Join the Community:
· Join Telegram Discord and Slack channel
· Follow them on Twitter Reddit and Facebook
· Read weekly articles on the ælf
· Catch up with the development progress on Github
· Telegram community in 한국 ,日本語 ,русский ,العربية ,Deutsch and Italiano
· Instagram: aelfblockchain
· YouTube Channel: aelf
For more information, visit aelf.io
Full disclosure: This article is not intended as investment advice. It is just my personal viewpoints about the project. You should always do your own research and invest your capital wisely.