Dear aelf Community Members,

Welcome to the September edition of the aelf Monthly Digest! Let's recap what happened in the past month: advancements in aelf’s technology, highlights ecosystem development, events, and Web3 industry insights.

Technology

1. Q3 2024 Goals, Delivered: AI Smart Contract Audit, Gas Fee Savings

We've delivered successful implementations of two key AI-driven features outlined in its Q3 2024 roadmap: an AI-powered smart contract audit tool, and machine learning models for smart contract optimisation. These advancements mark a significant milestone in aelf's commitment to providing a secure, efficient, and user-friendly blockchain ecosystem.

The AI-based smart contract audit empowers developers to quickly identify and address vulnerabilities in their code before deployment, ensuring enhanced security and reliability. By automating the auditing process, aelf enables Web3 developers to streamline their workflow and reduce the risk of costly errors.

Complementing the audit tool, having machine learning models for smart contract optimisation will help analyse and optimise gas usage during smart contract execution, leading to cost savings and better scalability with Web3 and AI integration.

2. aelf Network Update

In September, aelf launched the Gateway service on the mainnet to support multi-transactions, providing dApps on the aelf AI blockchain with greater flexibility in their deposit services.

Users get to initiate multiple transactions in one step even if their sidechain balance is insufficient, as the combined MainChain balance can cover the deposit. This removes the need for users to first transfer assets from the mainchain to the sidechain before completing their deposits.

3. aelfscan Introduces 'Allchain' Dimension

Following the release of a new and improved aelfscan last month, the user experience will be further enhanced with an introduction of the 'Allchain' dimension, which is to be set as the default entry point. This new feature will support the following key functions:

  1. Multi-chain information aggregation: Users will be able to view all tokens, NFTs, and addresses across both the mainchain and sidechain simultaneously, simplifying the information retrieval process
  2. Comprehensive search functionality: A new search capability will allow users to access multi-chain information directly from the details page, improving data accessibility across all chains.\
  3. Multi-chain data chart: Visual data charts will be provided for multiple chains, enabling users to gain a comprehensive understanding of aelf network's health, and facilitating deeper analysis

These enhancements will significantly improve user efficiency and convenience when browsing and analysing assets on the aelf blockchain.

Try aelfscan here.

Ecosystem

eBridge's New Interface

eBridge, a platform for seamless cross-chain asset transfers, just got even better with two exciting updates. It is bridging users' needs with a sleek new user interface that simplifies navigation and makes finding your desired chains a breeze.  But that's not all; it has also introduced a Telegram bot that lets users transfer assets between ETH, BSC, BASE, and aelf without even needing a wallet.

Try it out on Telegram to experience this nifty new feature.

To ensure safety of users' transactions, eBridge also completed audits from Zellic, a top blockchain security auditor. You can read the full audit report here.  

Portkey's Telegram Bot Goes Live

With the new Telegram bot, Portkey users can now manage their digital assets directly within the popular messaging app. The Portkey bot offers a user-friendly experience mirroring the Portkey app and extension, allowing for easy signup and login, free wallet creation, and access to a wide range of dApps, including games, DEXes, and bridges.

Try the Portkey Telegram Bot today.

aelfscan Surpasses 475 Million Transactions

Having been made available only last month in August, the aelf mainchain has crossed 492.92M transactions, whereas the sidechain (tDVV) has hit 475.91M transactions. Explore aelf's community-led blockchain explorer and enjoy a simplified experience as you stay updated on on-chain data such as viewing blocks, crypto transactions, tokens, and NFTs.

AwakenSwap Celebrates $2.5M TVL Milestone

AwakenSwap, a decentralised exchange (DEX) built on the aelf blockchain, has reached a significant milestone, surpassing $2.5 million in total value locked (TVL). This achievement underscores the growing adoption and success of aelf's DeFi ecosystem.

Launched in February 2024, AwakenSwap has rapidly gained popularity among users seeking a secure and efficient platform for trading supported digital assets like ETH, ELF, USDT, USDC and more.

eTransfer Hits $8.82 Million in Cross-Chain Bridge-Swap Volume

eTransfer, a cross-chain bridge-swap dApp built on the aelf blockchain, has achieved a significant milestone, reaching $8.82 million in total transfer volume. This accomplishment highlights the growing demand for interoperability solutions in the blockchain space.

eTransfer simplifies the transfer of assets between different blockchains, providing users with a seamless and secure experience.

AeFinder

AeFinder underwent several updates in September. These are what you'd find in the latest v2.18.0 installment:

  • Added support for parallel processing of multi-chain data in AeFinder's App, AeIndexer, significantly improving data processing speed
  • Implemented exception detection and recovery for AeIndexer's data processing, enabling automatic recovery from certain exceptions to enhance service stability
  • Optimised rolling updates to further improve AeIndexer's availability and stability
  • Introduced a simulation trial page and user guide to improve usability and developer-friendliness
  • Expanded the developer documentation to include an AeIndexer demo, enabling a quick start for developers and enhancing the overall experience

AetherLink

Following AethirLink's PlainDataFeeds inclusion and the Traceld feature in August, we've implemented a few more key updates in September:

  • The Automation contracts and off-chain clusters have been successfully launched on the mainnet
  • The AetherLink price service has been updated to SDK v1.0.4, adding multiple upstream and downstream monitoring checkpoints. This improves service isolation, stability, and observability, and has been deployed on the testnet.
  • The developer documentation has been expanded to include SOPs for Datafeeds, VRF, and Automation, enabling developers to get a quicker headstart

Events

HELLO [AI]: A Sky-High Celebration for TOKEN2049

Hello [AI] Token party 2024, hosted by aelf, AI blockchain
Hello [AI] Token party 2024, hosted by aelf, AI blockchain

aelf gave the much anticipated TOKEN2049 week an 'opening ceremony' of sorts with the HELLO [AI] party. Held at Swissotel's SKAI Loft and set against a panoramic backdrop of the Singapore Grand Prix racetrack, the event drew a capacity crowd of over 300 guests; attendees enjoyed an array of delectable canapés and cocktails while engaging in on-site game stations like the claw machine and the AI photobooth. The party also featured a unique musical experience, allowing attendees to vote for their favorite genre on Votigram, which the DJ then spun well into the night.

HELLO [AI] proved to be an enjoyable experience for everyone, but the success of it wouldn't have been possible without the support from co-host Gaia, as well as partners Sapien and NEAR Protocol. The event was also graced by representatives from Google Cloud Platform and Microsoft, who offered valuable insights into AI blockchain during the panel discussion segment.

Read the full party coverage here.

DeGen Summit 2024 Keynote

During the TOKEN2049 week, our Business Development Director Khaniff Lau took to the stage of DeGen Summit, and gave a keynote speech on AI and blockchain. Beginning with practical applications of the AI-blockchain merger, Khaniff discussed ways in which AI is more than just an online tool—it can promote greater transparency and trust, extract valuable insights from large datasets, and automate high-volume tasks. He also shared emerging trends in DeFi, before revealing aelf's latest developments on the AI blockchain front.  

DeGen Summit is a conference that congregates company founders, executives, investors, and creators of the Web3 space to discuss hot button topics in blockchain.

Open House #AI at Google

aelf's COO, Brian Liang, participated in a panel discussion on the topic of 'What is Open AI?' at Google's APAC headquarters. The panel brought together experts from the AI and Web3 fields to explore the potential of open-source AI technologies.

Brian Liang shared his insights from an AI blockchain perspective, highlighting the role of decentralised platforms in fostering meaningful innovations, collaborations, and developments. The discussion provided valuable insights on building democratised AI.

September AMAs: DeFi Evolution and Cross-Chain Swapping

Hosted by DigiFinex, a cryptocurrency exchange that offers spot and derivatives trading, 'The DeFi Evolution' AMA featured AwakenSwap and Portkey, two DeFi dApps built on the aelf blockchain platform. The discussion kicked off with what aelf is contributing to the 'BUIDL moment' in DeFi, and later centered around the opportunities and challenges presented by the evolving DeFi landscape.

Over on Telegram, Portkey and ETransfer hosted an AMA where followers could ask questions and win prizes. Five lucky members of the audience who asked questions won from a 100 ELF token prize pool. The AMA also delved into the capabilities and solutions ETransfer presents, given its niche in effortless cross-chain swaps between the aelf blockchain and major blockchain networks.

Listen to them now:

Industry Insights

In September, aelf AI blockchain rounded up news reports on household brand names and superapps announcing new innovations in the blockchain space.

Now that the Fed has announced rate cuts for the rest of the year, we have been seeing a slow inflows back in the cryptocurrency market; with BTC and ETH ETFs in mind, we also shed light on speculations regarding the next crypto that might get the green-light from SEC.

Onto the tech side of things, we wrote about AI oracles, a crucial cog in the wheel for AI blockchains such as aelf to fetch real-world data and feed it to smart contracts in a way that is accurate and succinct.

News Round-up: Sony Enters Blockchain, Altcoin ETF Speculations

We've seen big tech representatives of Fortune 500 companies making forays into blockchain and Web3. Now, consumer electronics giant Sony has joined the fray by releasing a layer 2 platform called Soneium—it promises to be a creator-friendly bridge between Web2 and Web3.

On the tech spectrum, Google launched its Blockchain Remote Procedure Call (RPC) service, which helps developers interact with blockchain data and run dApps more efficiently.

Solana, famed for its low-cost, highly scalable platform, released its latest smartphone called Solana Seeker. The Ethereum rival is one of the rumoured cryptocurrencies to be the next-in-line for a ETF approval, even though efforts have hit a brick wall.

aelf Dictionary: All the Blockchain and AI Lingo to Know About

Do you have a habit of yelling 'TO THE MOON!' to friends as you monitor candlesticks? Or are you dipping your toes in the artificial intelligence (AI) realm and wish to converse like a seasoned user?

This comprehensive but non-exhaustive list of blockchain, crypto, and AI terms can have your back. Even better news: This is the first of our monthly lucky draw in which readers can vote for their favourite term on Votigram, and be in the running to get airdropped ELF tokens. Isn't lifelong learning rewarding?

How Blockchain and Smart Contracts Are Reimagining Real Estate

When buying, selling, renting or investing in a property, it is likely to involve mountains of paperwork, agent dealings, and financial counsel. Can blockchain, smart contracts and AI seal the deal in one click of a button? Read more and find out.

Step-by-Step Guide: How to Be a Blockchain Validator (and Earn Rewards)

Crypto trading is often at the top of people's minds when they talk about earning opportunities in blockchain and Web3. But it is not the only way. There is a niche community of people who are making side incomes out of being a blockchain validator. Find out what a validator does, and how to get started, in the article.

A Guide to How AI Oracles Work in Blockchain

Smart contracts wouldn't be able to function meaningfully without being able to pull real-world data such as weather conditions, crypto prices, or scores of sports matches. That's where AI oracles come into play. They act as trusted intermediaries, fetching information from various sources, validating it, and feeding it to the blockchain in a format that smart contracts can understand.

Read more about how aelf plans to integrate an AI oracle to synergise its chains and dApps.

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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.

About aelf

aelf, an AI-enhanced Layer 1 blockchain network, leverages the robust C# programming language for efficiency and scalability across its sophisticated multi-layered architecture. Founded in 2017 with its global hub in Singapore, aelf is a pioneer in the industry, leading Asia in evolving blockchain with state-of-the-art AI integration and modular Layer 2 ZK Rollup technology, ensuring an efficient, low-cost, and highly secure platform that is both developer and end-user friendly. Aligned with its progressive vision, aelf is committed to fostering innovation within its ecosystem and advancing Web3 and AI technology adoption.

For more information about aelf, please refer to our Whitepaper V2.0.

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