aelf is proud to announce the addition of two new Block Producer (BP) seats, further enhancing network security and decentralisation.
Powered by the innovative AEDPoS consensus mechanism, aelf boasts a governance design that allocates power to stakeholders — BPs, candidate nodes, and voters. The three primary roles work collaboratively to fortify the network and maintain its decentralised operation.
As per aelf’s contractual framework, the total number of BPs in the network is capped at 2N+1, with N starting at 8 in 2022 and increasing by 1 each subsequent year. Since the successful node election in early 2022, aelf has welcomed the inaugural batch of 17 BPs. Fast-forwarding to 2024, the release of these two additional BP seats brings the current count to 21 BPs. For real-time data of the node election results, explore the aelf explorer.
Participants in aelf governance are eligible to receive ELF tokens as rewards, detailed in this post. The fundamental distribution is outlined below.
If the rewards capture your interest, and you wish to contribute to aelf’s decentralised governance, feel free to read on for the instructions:
- BPs and candidate nodes are aelf’s full nodes that engage in governance elections. Elections are automatically conducted every seven days and the election results are determined by the number of votes each node receives from voters. For a detailed understanding of the tasks and rewards associated with BPs and candidate nodes, refer to this article.
- Voters are Mainnet ELF token holders who cast votes (ELF tokens) for nodes to elect BPs and candidate nodes. In contrast to BPs and candidate nodes, voters are not required to set up and maintain nodes. Instead, all they need to do is lock up their ELF tokens for nodes they support over a specific period and enjoy the rewards. If this aligns with your interest, follow the voting tutorial for step-by-step guidance.
Over the years, aelf has undergone continuous upgrades and witnessed the development of various trending dApps. This substantial enrichment of the ecosystem has empowered aelf to confidently welcome additional nodes in the roles of BPs and candidate nodes. Moreover, aelf encourages more ELF token holders to actively participate in the governance by exercising their voting power.
Seize the opportunity — whether by setting up nodes or casting votes — and become an integral part of the dynamic and flourishing aelf ecosystem!
*Disclaimer: The information provided on this blog does not constitute investment advice, financial advice, trading advice, or any other form of professional advice. Aelf makes no guarantees or warranties about the accuracy, completeness, or timeliness of the information on this blog. You should not make any investment decisions based solely on the information provided on this blog. You should always consult with a qualified financial or legal advisor before making any investment decisions.
About aelf
aelf, the pioneer Layer 1 blockchain, features modular systems, parallel processing, cloud-native architecture, and multi-sidechain technology for unlimited scalability. Founded in 2017 with its global hub based in Singapore, aelf is the first in the industry to lead Asia in evolving blockchain with state-of-the-art AI integration, transforming blockchain into a smarter and self-evolving ecosystem.
aelf facilitates the building, integrating, and deploying of smart contracts and decentralised apps (dApps) on its Layer 1 blockchain with its native C# software development kit (SDK) and SDKs in other languages, including Java, JS, Python, and Go. aelf’s ecosystem also houses a range of dApps to support a flourishing blockchain network. aelf is committed to fostering innovation within its ecosystem and remains dedicated to driving the development of Web3, blockchain and the adoption of AI technology.
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