Review on aelf by Azad Aliyev

What is aelf (ELF)?

aelf is a decentralized cloud computing network with multi-chain, parallel processing system, cross-chain communication and self-evolving governance.

aelf has a comprehensive governance model that includes the Parliamentary Management Model, Association Management Model and Referendum Management Model. Through the incentive model, the network is equipped with a self-sustaining system and can initiate self-development on a practical basis.

The network operates a Delegated Proof-of-Stake (DPoS) consensus mechanism, where token holders can transfer tokens to support their trusted block producers.

The ELF token is used in voting for governance, stock and delegation, as well as gas fee for simple token transactions and smart contract executions.

What is ELF Coin?

aelf is a customizable operating system (OS) for the blockchain. The team aims to make this project the "Linux system" of the blockchain community.

Alf focuses on two main innovations to solve current problems with blockchain technology: sidechains and a single governance model.

The project uses a empowered participatory testing system for more adaptive governance while allocating resources and smart contracts through the use of sidechains to improve scalability.

Alf is developed on a mainchain and multiple sidechains to execute smart contracts on the platform. The main thread is the backbone of the entire system and can also interact with the outer threads. Each side string is dedicated to a specific type of smart contract. Side chains cannot interact with each other, so they must communicate over the main chain when transmitting information.

AELF, a chain system

All side chains are linked to the main chain by an index system. The index system divides chains into two groups:

• Very important external chains (Bitcoin, Ethereum, etc.)

• Internal sidechains in aelf operating system

For example, the main string can be connected to a central system such as Bitcoin or Ethereum, which are branched as strings, a side string for “Asset swaps” and additional strings for “Other asset types”. To further refine the example, the array "Other entity types" may have a subsequence for each activity type, and each of these sequences can be further subdivided.

This strategy is similar to Ethereum sharding and should help the network improve scalability (transactions per second). Splitting the ecosystem into side chains ensures that congestion in one area does not affect the entire network.

Sidechains must pay a transaction commission to the main thread for indexing. The more you contribute to a sidechain to the ecosystem, the lower the transaction fee you will have to pay. Any connection to the widely adopted Bitcoin will not be subject to payment of the fee. Sidechains can also collect commissions from all secondary chains affiliated with them.