Supports Web3: aelf as a high-performance cloud-based layer-1 blockchain

aelf is a high-performance, cloud-native, layer-1 blockchain network with Mainnet nodes running on various cloud data centers. It provides a high-speed running environment for smart contracts and enables the execution of contracts in parallel and smart contract micro-servicing running on server clusters.

The MainChain and multi-SideChains architecture supports efficient indexing in the network and guarantees almost unlimited scalability. And the built-in cross-chain design enables ultra-fast interaction of data. The innovative hybrid of shared SideChain and exclusive SideChain significantly reduces costs for developers and users and further improves overall network performance.

Improving network performance

The performance optimization of aelf can be mainly classified into two, single chain and multi chain.

1. Performance of single chain

• High-speed running environment for smart contracts. The execution speed of aelf’s smart contracts, which has been tested, is 1000 times faster than EVM. Test codes can be found in their report on GitHub or in one previous article.
• Execution of smart contracts in parallel. As stated in the contract definition and pre-execution phase, aelf categorizes the smart contracts by tags so that contracts in one block can be executed in parallel;
• Smart contract micro serving can run on server clusters. Based on the gRPC protocol, aelf defines the remote call protocol for smart contracts, realizes aelf contracts as microservice, and realizes the automatic scalability of single-chain smart contract operation environment by combining with the strategy of cloud computing.

2. Performance of multichain

• MainChain and multi-SideChain’s architecture: This architecture enables the blockchain network to be both efficiently indexed and infinitely scalable. Suppose it indexes 8 SideChains on each layer, so on a three-layer network, aelf can index a total of 8*8*8 SideChains. That means 512 sidechains, and if it is on a quad layer, the total number of indexed sidechains will be 4096. It can help aelf and its developers to build one Web3 application on each sidechain;
• Shared side chain and exclusive side chain
• Shared sidechains are used by developers to verify their projects. While for exclusive SideChains, the verification process is eliminated and users will not be charged, hence the performance is significantly improved. The exclusive SideChains use a charging mode similar to the Amazon servers’ monthly charging;
• Built-in cross-chain functionality: To ensure data interaction within all blockchain systems (internal), aelf realizes the built-in interaction of cross-chain data. This is achieved by production nodes interacting with each other in the data centre.

DAO management system

aelf’s governance design supports the blockchain to be highly decentralized and guarantees the security and scalability of the network. The mainnet nodes are currently operated by different organizations in different cloud data centers. aelf has a mature online DAO governance system. Users can participate in network maintenance through the voting system by using their ELF tokens and by voting they can receive stake rewards.

Use instances of its native ELF tokens

Users can bet and vote using ELF to participate in governance. In addition to this, the token is also used to pay transaction fees or purchase resource tokens.

Transactions on the aelf network are settled in ELF, and this includes transaction fees and SideChain index fees. It only takes about 0.3 ELF to complete a transaction which is so much cheaper than Ethereum.

The resource tokens are used by developers. These are tokens needed for projects to be developed and run on aelf, and there are a total of 8 types of them. Depending on their own needs, developers can choose which resources/resource tokens to use and buy tokens with ELF. ELF is also used to pay method fees for calling smart contracts.

It is worth noting that ELF here refers to Mainnet ELF rather than ERC-20 or BEP-20 tokens. Although aelf supports four types of ELF tokens, it is Mainnet ELF running on the aelf blockchain that can act as a ticket to aelf’s ecosystem and governance.

Optimizing the developer experience

aelf has consistently optimized its own infrastructure, products and services to make the developer experience more user-friendly and flexible.

To better support ecosystem growth and meet various development needs, aelf has built and opened a complete set of frameworks and DApp development tools, including blockchain explorer, extension wallet, app wallet, multilingual SDKs, aelf CLI, event handler, aelf Boilerplate, on-chain data query system which The Graph, contract template and code generator, etc. These projects are open for anyone to build on and you can learn more about GitHub.

aelf’s vision of Web3

aelf strongly believes in the development of the Web3 industry and tries its best to keep up with it. It aims to lead the development of the industry. aelf will play an important role and will provide an accessible entry into the metaverse for everyone.

Since C# is used to build smart contracts on aelf, it will attract developers from the Unity community to write smart contracts here, taking aelf one step forward towards its goal. To achieve this, the team is more than dedicated to the construction of Web3 and other infrastructures, such as privacy computing, decentralized storage and decentralized identity (DID).

Road map

With the goal set to support the development of Web3 and its explosion over the next 5 to 10 years, aelf promises that it will continue to upgrade its own technology and products while promoting ecosystem growth. Recently, the team has been busy negotiating with their communities, and so far they have revealed that some fascinating proposals were submitted, all of which contributed to the elf ecosystem. Names such as cross-chain bridge, wallet and DAO were mentioned. Seems like your community should be prepared for a boom year.

For more information on aelf, check out their official website and follow them further Medium or Twitter.

Disclaimer: This is a paid post and should not be treated as news/advice.