Dear aelf Community Members,

Welcome to the first aelf Monthly Digest of 2024, covering the developments and progress aelf has made in January 2024. This article provides an overview of the advancements in aelf’s technology, highlights ecosystem development, recaps events held during the past month and shares Web3 industry insights.

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Technology

1. aelf Cloud-Native Computing

To ensure optimal performance on the aelf blockchain, we are enhancing our cloud-native computing system for faster BP node transaction execution by horizontally scaling the Orleans Silo cluster. The dynamic scaling project has been deployed on the Testnet this month and is currently undergoing stress testing before being deployed on the Mainnet.
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2. AeFinder v1.1.4

AeFinder v1.1.4 was released in January. This version optimises how the indexer processes subscription-based messages and significantly improves the performance of the indexer plugin.
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3. AetherLink v1.1.0

AetherLink v1.1.0 has been rolled out, bringing various features and enhancements:

Multitasking and parallel processing features, enabling concurrent execution of Datafeed and VRF tasks for diverse cryptocurrencies across multiple chains.
Improved node connections through gRPC, enhancing concurrent communication and the system's ability to handle abnormal connections.

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Ecosystem

1. Partnership with ChainAtlas to Pioneer Interoperability in Blockchain

aelf is enhancing cross-chain interoperability through a partnership with ChainsAtlas, using virtualisation technology to integrate decentralised applications (dApps) from various blockchains into aelf, regardless of their specifications. This collaboration aims to create a globally connected blockchain ecosystem, expanding aelf's capabilities for a broader range of dApps, enabling developers from different backgrounds, and offering users access to a more diverse set of digital assets in the Web3 community.
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2. aelf Ecosystem Referral Program Launched

Our aelf Ecosystem Referral Program, an initiative to reward our valued aelf ecosystem projects and catalyse the exponential growth of the aelf ecosystem, was launched in January. There are 3 tiers for the aelf Ecosystem Referral Program — Bronze, Silver and Gold — and each tier brings you attractive rewards such as ELF tokens and lower gas fees for your own project. A successful referral refers to when the referred project has been vetted and approved by the aelf team and has been fully integrated into the aelf ecosystem. Read more here.

You may refer a project through the aelf Ecosystem Referral Program by filling up this form.

3. aelf's Official Swap Portal is No Longer in Service

aelf's official swap portal is no longer in service as of January 16, 2024. For aelf community users and ELF token holders with swap requirements, we recommend using our ecosystem dApp, eBridge. This cross-chain bridge facilitates two-way swaps of ELF tokens between aelf and Ethereum or BSC. It also supports similar swaps for various other tokens like USDT, ETH, BNB, etc. Please refer to their blog for more details.

4. Join our Community NFT Design Contest and Win 100 USDT

We invite aelf community members to submit designs for our first-ever Community NFT through the Community NFT Design Contest! The theme for the Community NFT is “aelf in Paris” and the deadline to submit your NFT design is 12 February, 00:00 UTC+8. Thereafter, the aelf team will shortlist 5 designs for the community to vote via Twitter from 13–19 February. The design with the highest votes will not only be minted as aelf’s first Community NFT but will also be rewarded with 100 USDT. Additionally, community members who vote will also stand to win 100 USDT! Read here for more information. Submissions are open at Zealy.

5. New dApp: aelf Inscription

A new aelf ecosystem dApp has been spotted! You can now deploy, mint and trade inscriptions on the aelf blockchain through Inscription. This was made possible by the team that launched aelf's NFT marketplace Forest and the seed creation platform Symbol Market. A detailed guide on how to use the platform can be found here.

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Events

1. NUS Fintech Summit

After a month-long of fintech innovation, we finally concluded NUS Fintech Summit 2024 where we sponsored one of the hackathon tracks, mentored hackathon teams, and sent a Judge panel to Demo Day to determine the 3 winners of the aelf track with the problem statement where teams developed creative solutions to the problem statement – "What kind of enterprise solutions/products can we build on aelf to make it more user-friendly for the masses?” Additionally, we also conducted an aelfinity Developer Workshop, held a seminar titled “A Decentralised World for Tomorrow", and promoted aelf and blockchain technology to tertiary students at the Career Day booth. Read more about went down at the NUS Fintech Summit 2024 in our recap article.

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2. CES 2024

In our bid to onboard more Web2 gaming companies into Web3, we joined the Portkey team at CES 2024 (7-12 Jan)! Our venture to Las Vegas connected us with many industry leaders such as Unity, Epic Games, Activision and more, where we got to discuss how aelf blockchain and Portkey's wallet can ease games and studios' transition to Web3.

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3. aelf Ventures X ABCDE Labs Meetup

The aelf x ABCDE networking event held on January 18 successfully brought together experts from VC firms in Singapore and entities interested in the aelf ecosystem. This gathering was pivotal in facilitating connections, sharing insights, and exploring collaborations within the blockchain sphere. Focused on fostering a community, the event sparked meaningful discussions on future partnerships, showcasing aelf's role in driving innovation in the blockchain industry.

4. AMA with Wizarre Stormfights and Field of Dreams

On January 30, we hosted an AMA session with our aelevate Gaming Grant Program grantees, Wizarre Stormfights and Field of Dreams where we discussed the benefits and challenges of integrating blockchain with games. We'd like to thank over 200 listeners who tuned in to the exciting discussion!You may listen to the recording of the AMA here.

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5. Exploring the Future of Finance with RWA Tokenisation

In our bid to expand deeper into the DeFi space, the aelf team attended the launch event of the Digital Assets Association on January 31. Khaniff Lau, aelf's Business Development Director, participated in the panel discussion where he shared insights about why and how the traditional finance industry is shifting towards adopting blockchain technology and DeFi services.

Upcoming:

NFT Paris 2024 and BGA x aelf Connects Paris

In 2 weeks, we'll be in Paris for NFT Paris 2024 where we will be launching our first-ever POAP! Apart from having a booth and various exciting activities for you to snag some exclusive merchandise, we'll also be co-hosting a Web3 gaming mixer with Blockchain Gaming Alliance (BGA) on February 22! If you're in town, do RSVP for the BGA x aelf Connects Paris event here.

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Industry Insights

This month, we published 5 Industry Insights articles:

1. Navigating the Evolution of Web3 Decentralised Wallets

The article highlights the growing usage of digital wallets, the shift from centralised Web2 to decentralised Web3 wallets, and the associated considerations of ownership and security.

2. Charting the Course from Web2 to Web3 for Developers

The article discusses the challenges and opportunities in transitioning to Web3 development, emphasising the need for new skills and community-driven governance through DAOs to ensure fairness in the market.

3. Where’s The Fun? — Why P2E Games Fail and How We Can Save GameFi

The article explores challenges in Play to Earn (P2E) games in the GameFi sector, primarily the overemphasis on monetary rewards over engaging gameplay, and suggests four strategies for sustainable revenue generation.

4. How Can We Make GameFi Projects Sustainable in 2024

This article delves into strategies for ensuring long-term success and player engagement in GameFi, highlighting the importance of engaging game design, balanced rewards, diverse revenue streams, and stable community governance.

5. Becoming a Block Producer on aelf, Here is Why and How

The article emphasises the critical role of Block Producers (BPs) in the aelf blockchain's AEDPoS consensus mechanism and details the election process for BPs, operational guidelines and potential penalties for non-compliance.

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*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

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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.

Find out more about aelf and stay connected with our community:‍

Website | X | Telegram | Discord

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Back to Blog

Tool/Platform	What's it about
ChainGPT	An AI-powered assistant for the blockchain and crypto industry, specializing in content creation, language translation, smart contract coding, and more.
aelf	A high-performance, customisable multi-chain blockchain framework with AI-powered smart contracts and a developer-friendly environment.
Quick Intel	An AI-powered crypto security platform that helps investors avoid scams, rug pulls, and honeypots by analysing smart contracts, social sentiment, and on-chain data.
Cogwise AI News Aggregator	An AI-powered news aggregator that analyses real-time news and global trends to predict market movements in the crypto market.
OpenAI Codex	An AI system that transforms natural language into code, automating code creation for smart contracts, blockchain applications, and other development tasks.
QnA3	An AI-powered Web3 knowledge hub that provides real-time information and insights on cryptocurrencies, blockchain projects, and the broader Web3 ecosystem, with unique Solana Actions integrations.
Fetch.ai	A platform that combines AI and blockchain to create autonomous economic agents (AEAs) for various applications, including supply chain optimisation and smart city management.
Octavia	A decentralised digital identity (DID) platform for creating and managing self-sovereign digital identities, empowering users to control their data and online presence.
TensorFlow	A versatile open-source machine learning framework used for building AI models that can analyse blockchain data, enhance security, and predict market trends.
Alethea	A platform that creates 'Intelligent NFTs' (iNFTs) with unique personalities and the ability to engage in conversations, powered by AI and blockchain technology.

Chain	URL	Explorer
AELF	https://aelf-test-node.aelf.io/	https://explorer-test.aelf.io/
tDVW	https://tdvw-test-node.aelf.io/	https://explorer-test-side02.aelf.io/

Feature	Description
Inheritance	ERC-404 inherits from the interfaces IERC-404, IERC721 Receiver, and IERC165, implementing functions specified in these interfaces, behaving as both ERC20 and ERC721.
Data Structures	Mappings track balances, allowances, approvals, and ownership of tokens. Double-ended queue stores ERC721 token IDs. Data for managing ownership and indices of ERC721 tokens.
Constructor	Initialises token name, symbol, decimals, and other necessary variables for ERC20 and ERC721 tokens.
Token Minting and Burning	_mintERC20 function for minting ERC20 tokens. _retrieveOrMintERC721 function for minting ERC721 tokens and retrieving from a bank. _withdrawAndStoreERC721 function for depositing ERC721 tokens into the bank.
Transfers	Functions for transferring ERC20 and ERC271 tokens between addresses. Distinguishes between token types based on ID. _transferERC20WithERC721 function handles transfers involving both types.
ERC20 and ERC721 Interactions	Approve function handles approvals for both token types. Functions like transferFrom, safeTransferFrom, and permit handle transfers and approvals.
EIP-2612 Support	Supports EIP-2612 permit functionality for ERC20 tokens.
Interface Compatibility	Implements necessary functions for ERC-404 and ERC165 interfaces, indicating compatibility with ERC20 and ERC721 standards.

Role	Max Number
BP	2N+1, N starts from 8 in 2022
Candidate node	5*(2N+1)
Voter	No limit

Benefits	Description
Makes smart contracts 'smarter'	AI-driven smart contracts can autonomously modify terms based on predefined conditions and real-time data input, ensuring that the contracts are not just automated but also intelligent and self-improving over time.
Levelled up data analysis	Data is the new oil, and AI is the machinery that refines it. It is possible for AI to reduce large-volume blockchain data analysis time by up to 90%.
Boosts security	Through machine learning models, AI can prevent frauds and detect security threats in real time. It can identify potential breaches, predict future threats, and adapt to evolving security measures.
Lowers carbon footprint	AI algorithms help optimise energy consumption in blockchain operations, given the flak drawn by activities like Bitcoin mining.

aelf Monthly Digest — January 2024