Hey! The caption was not intended to scare. What’s more? Aelf (ELF) is no elf wielding ominous magical powers to its advantage. On the contrary, Aelf is a brilliant decentralized blockchain network that sources for intelligent means to increase blockchain transaction chances on a large scale.
Early August, Zhuling Chen, Aelf co-founder and COO, boasted on a forum with the technology that Aelf was at the time working to look into the problem of blockchain scalability; burdened with a mandate to boost intrinsic public blockchain as well as pave the way into successive applicable blockchain system.
Prior to this time between June and July, Aelf had worked on a TPS test nest which resulted in an impressive data of 14,968 times every second. Here’s how it was run;
First up, the idea which was named Parallel Processing Model benchmark test operates under two regular procedures; Main chain and Side chains – but functions in a unique way. The brain behind this concept is Parallel Processing and it works by making single nodes responsible for more than one computer.
This way, a single node functions to make the computers run in a parallel manner. The benchmark protocol is the highlight of this technology. It balances the accounts on the Token contract and goes ahead to duplicate and execute mass transactions in the Transactions executor.
As a result of this test run, a transaction in single machines was confirmed possible using the Parallel executor system, scalability in a clustered network area was authenticated.
In addition, allowance was open for an optimal database in situations where the server runs an improved configuration.
Next up, the Aelf (ELF) test run team discovered that the general idea behind the test run could be amplified for maximum input:
*Reducing the transaction grouping or clustering time by creating more efficiency in the grouping pattern. Here’s why; for 80,000 transactions to break into 2,000 smaller units, a total time of 700ms was rated to have counted.
*The system by which the transaction process was monitored functioned below par and necessitated an improvement; to be able to identify eventualities in the development.
Arising from the success of this throughput, Aelf (ELF) made a close shove to acclaimed Bitcoin and Visa (blockchain with the most recognized transaction support). With Aelf’s achievement, a move is being made to broaden the face of global blockchain technology in view of the arrival of the incoming year 2019.
More Interesting Facts About Aelf (ELF)
Aelf is a self-sustaining 3.0 block-technology company effects an assortment of unique features; it operates Peer-to-Peer, uses Proof-of-Stake and allows smart contracts; in addition to the innovative functions mentioned above (Parallel Processing and Cluster Management).
In Mid-August, another improvement on the network identifying transactions that come from different sources and sorting them separately was introduced into Aelf’s blockchain space. The new program goes to work before any smart contract is executed on the network.
During runtime, the database uses some sort of planner to attend to conflicting requests. This ensures order and reliability of the contract. The process is known as concurrent scheduling since it mediates transactions on the go by permitting or prohibiting applications on transaction order. Only one PC-Suite is necessary to perform this action, and it validates contracts seamlessly concerning the intended clients.
As is common knowledge, the biggest challenge resisting global participation in crypto-commerce is blockchain scalability.
Aelf (ELF) is not only exercising its blockchain sense to lift this glitch, but also has its crypto-label; ELF, ready to push into the mainstream and compete with other altcoins. ELF tokens are handed out to the public through social media friendly challenges; thus building an Aelf community.
Although ELF lost its chance to game up in the Initial Coin Offering, it no doubt holds the promise of potential value. With a current Market Capital of about $107m, ELF’s future continues to look up, especially with interest from investors.
Alphabit Fund, among other investors is ready to stick it out for Aelf (ELF), staking up claims to the crypto-blockchain-tech’s desired stability. This is in view of aelf’s commitment to creating a viable space for business owners in the crypto world.
Within Aelf’s world of solutions is the Innovative Alliance. The Innovative Alliance creates a platform for traders and investors or simply users of applications from Aelf (ELF) to share solutions and to get acquainted with ways to adopt them.
Aelf aims at building easily applicable technology that all forms of users could deploy on their network. Chen Zhuling refers to this system as a ‘Central Business District for commercial enterprises’.
Aelf has an operating system is perhaps the latest blockchain with the greatest advantage based on its edge over other blockchains with its parallel processing and cluster management solutions; a trick which other ace blockchains have been unable to pull. Ma Haobi (Aelf’s founder) and his team definitely hold a plausible direction for the future of the blockchain industry.