Aelf (ELF) A Decentralized Self-evolving Cloud Computing Network
The Blockchain community has seen rapid development over the past few years. After Satoshi’s Bitcoin is proven as secured, decentralized Peer-to-Peer transfer mechanism, the idea of a decentralized crypto-currency became mainstream and altered the world of finance permanently. Ethereum then extended on that idea with the successful application of versatile “Smart Contracts,” revealing the potential of Blockchain into diverse applications and industries. As an outcome, several alternative crypto assets were created upon these Blockchains. But the border between the Blockchain community and the business world has yet to be broken.
Aelf reaches a point in Blockchain, with the next phase conveying to the integration of Blockchain and the physical business world, and surely bringing in substantial digital assets.
A Highly Customizable OS for Commercial Use
Aelf aims to become a highly effective and customizable OS that will become the “Linux system” for Blockchain. Making Linux as an example–Linux Kernel and several Linux versions compose the large and successful Linux family. Linux Kernel resolves the most significant, critical and time-consuming parts, enabling other developers to make customized systems based on application situations and customer demands.
This similar idea has been combined into the aelf design. Defining and implementing the aelf Kernel and developing a “shell” as the primary interactive interface for the Core. Users can both utilize the entire Blockchain OS, or rapidly develop a customized OS based on the Core by redefining the Core through interfaces.
aelf Operating System
The aelf system produces highly specialized and effective Chain structures to manage all kinds of business outlines. It also allows “Chain splits” to direct capacity concerns when demand rises. To further improve aelf’s economic potential, they have layout the system’s most fundamental block and infrastructure for developers and the community.
Block: A Block is used to record a case in the system. The transactions included in current Block defines the transition from the last Block to the current Block.
Transaction: Transaction logic is described as Smart Contract. A Smart Contract is basically a Protocol. It always produces the same output from the same input.
Account: An account is used to identify the limits of data storage. It consists of a public key and private key systems.
P2P network communication: Data transmission between nodes is done through the underlying P2P network.
Consensus Protocol: A Consensus Protocol establishes the rules and authority to update a state within the Blockchain.
aelf Token System
aelf token incentivizes ethical behavior in the system. All aelf Side Chains acquire the aelf Token as storage of value and a means of value transfer. It can be transported beyond any Chains that accept the aelf Token. When a Side Chain applies to be listed by the Main Chain, it gets some locked in Tokens from the Main Chain. When the Side Chain collects transaction fees, it partly shares them with miners of the Main Chain. When the Main Chain finds indexing a Side Chain is economically disadvantageous, the Main Chain has the power to end indexing, or allowing competition of two Side Chains rendering the same services.
aelf Operating System Customer Interface
aelf Eco-system development
Any new technology will not achieve without commercial adoption and a sustainable eco-system. aelf has proposed a technical blueprint with commercial application instilled throughout the whole design. It is imperative to establish an aelf ecosystem including internal and external resources. We pursue this goal by striving concurrently in three dimensions: technology, business, and capital.