Blockchain technology is evolving rapidly, and amidst this innovation, aelf has emerged as a standout contender in the space. Positioned as a next-generation AI-enhanced Layer 1 blockchain, aelf is designed to solve key scalability and performance challenges that have long plagued the blockchain ecosystem. With its focus on cross-chain interoperability, sidechain solutions, and AI-powered governance, aelf is setting the stage for a truly decentralised, scalable, and developer-friendly ecosystem.
In this comprehensive guide, we’ll dive into everything you need to know about aelf—from its foundational architecture and native ELF token to the exciting decentralised applications (dApps) and projects built on its network.
Whether you're a developer, blockchain enthusiast, or investor, this guide will walk you through aelf’s unique features and explain how you stand to gain by being a part of the ecosystem.
Let’s explore how aelf is reshaping the future of decentralised technology.
What Is aelf?
aelf stands out as a high-performance, customisable, and AI-powered Layer 1 blockchain platform. Its multi-layered architecture, featuring a mainchain and adaptable sidechains, ensures scalability and efficiency. Having kickstarted AI integration, aelf has enabled easier smart contract creation and execution, and the roadmap will see several launches that will upgrade its operational excellence.
It leverages the C# programming language for its strong type-checking, which enhances code reliability and reduces runtime errors—a crucial ingredient for the immutable and secure nature of blockchain applications.
Key advantages of aelf:
- Developer-friendly: aelf's C#-based environment and AI-powered tools simplify smart contract creation and offer real-time support, making blockchain development more accessible
- AI-driven efficiency: AI integration streamlines processes, improves security, and enhances the overall user experience
- Cross-chain interoperability: aelf facilitates seamless data and asset transfer across different blockchains, expanding its potential use cases
- Enhanced scalability: There are plans for aelf to roll out Layer 2 solutions in ZK Rollup to handle increased transaction volumes and reduce congestion
For more information about aelf and its AI outlook, please refer to our Whitepaper 2.0.
The Tokenomics of aelf
What Are the Supported Crypto on aelf?
The primary cryptocurrency supported on the aelf blockchain is the ELF token. This token can be used for several functions such as governance, resource allocation, and staking.
As aelf is a multi-chain network with various sidechains, users can unlock utility with other tokens specific to dApps built on the aelf ecosystem, such as AwakenSwap, Portkey, and Project Schrodinger.
As of the time of writing, these are the supported tokens and stablecoins within the aelf ecosystem:
- ELF
- ETH
- USDT
- USDC
- BNB
- DAI
- SGR
What Is the Price of aelf Crypto?
The price of aelf’s native token, ELF, is dynamic and fluctuates based on market conditions. Since its launch, ELF has experienced a wide range of price movements. The all-time high for ELF was $2.77 in January 2018, during a period of high market enthusiasm. In contrast, ELF reached an all-time low of $0.035 in March 2020, reflecting a broader market downturn.
Like most cryptocurrencies, ELF’s value is influenced by factors such as market demand, ecosystem developments, and overall trends in the Web3 crypto space.
How to Buy ELF Tokens
Acquiring ELF tokens is straightforward, with several options available for both beginners and experienced users. First, you’ll need to create an account on a supported exchange and have a cryptocurrency wallet ready. Most exchanges allow purchases using major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), or stablecoins like USDT. Alternatively, some platforms offer direct purchases of ELF using fiat currencies like USD or EUR.
Steps to Buy ELF:
- Choose a Cryptocurrency Exchange
Select a reliable exchange that supports ELF trading. Popular choices include Binance, OKX, HTX, or AwakenSwap.
- Create an Account
For centralised exchanges, sign up for an account by providing your email, setting a password, and completing any verification steps. For decentralised exchanges, make sure you have a compatible cryptocurrency wallet, such as MetaMask.
- Deposit Funds
On centralised exchanges: Deposit funds into your account, which could be cryptocurrencies or even fiat currencies, depending on the exchange
On decentralised exchanges: Ensure you have sufficient tokens in your wallet to swap for ELF
- Buy ELF
Navigate to the trading section of your chosen exchange and search for ELF. Place a buy order, specifying the amount of ELF you want and your desired price.
If you’re using Uniswap, you can directly swap other cryptocurrencies for ELF tokens.
- Withdraw ELF to Your Wallet
For added security, it’s recommended to withdraw your ELF from the exchange to a cryptocurrency wallet, such as Portkey—its signature account abstraction technology and social recovery mechanism afford a peace of mind. This ensures you have full ownership and protection of your assets.
Which Centralised and Decentralised Exchanges Support ELF Tokens?
ELF tokens are widely supported across multiple centralised and decentralised exchanges. Some of the key platforms where ELF can be traded include:
Centralised Exchanges:
- Binance
- Bithumb
- Upbit
- HTX
- OKX
- Gate.io
- MEXC
Decentralised Exchanges:
- Uniswap V2
- Bancor Network
- AwakenSwap
Before buying, be sure to verify the fees, liquidity, and security measures of the exchange you choose. As with any cryptocurrency investment, always exercise caution and manage your risks responsibly.
aelf, the Back Story
aelf is a decentralised, Layer 1 AI blockchain network that aims to solve the scalability and performance problems that have plagued other blockchains. It was co-founded in 2017 by Auric Ma, who was investigating solutions to the latency problem.
The limitations of existing blockchains were brought to his attention because of the CryptoKitties incident that clogged the Ethereum network; it inspired the creation of a platform that could handle the demands of a growing user base and complex applications.
The name is a stylised nod to the elves in the MMORPG classic 'World of Warcraft'. Auric's passion for blockchain technology let him to create a platform with an emphasis on scalability (parallel processing), flexibility (aelf's modular infrastructure design), and governance (voting system that prevents conflicts and forks).
How Did aelf Start?
aelf was first introduced to global investors at a Coindesk conference in December 2017. aelf quickly garnered attention and successfully completed its fundraising ahead of schedule, securing investments from high-profile firms such as Arrington Capital, Draper Dragon, and Galaxy Digital.
In the same month, the ELF token was listed on major exchanges, including Binance and OKX. The project gained further momentum with the successful launch of its Testnet in 2018, followed by the launch of the Mainnet in 2020.
Since then, aelf has positioned itself as a leading multi-chain blockchain platform, focusing on scalability, parallel processing, and cross-chain interoperability. Its goal is to be the 'Linux Ecosystem' equivalent for blockchain, allowing developers to customise chains to suit their needs.
Who Founded aelf?
aelf was co-founded by Auric Ma. His background in the blockchain world stretches back to his early involvement in cryptocurrency during his university years. He graduated from Tianjin University with a degree in computer science and quickly became immersed in Bitcoin trading and mining.
Auric is assisted by a team of highly experienced Web3 professionals. Together, they bring a wealth of experience, expertise, innovation and drive to the blockchain platform. The core management team is based in Singapore; in May 2024, aelf appointed Brian Liang as its new Chief Operations Officer (COO) to lead the acceleration of AI adoption in the blockchain infrastructure.
What Are the Benefits of Building on aelf?
Building on aelf offers a range of unique advantages for developers and innovators, making it an ideal platform for creating decentralised applications (dApps) and blockchain-based solutions. Here's why aelf stands out:
1. C# Programming Language
aelf is built using the C# programming language, known for its robustness, scalability, and ease of use. C# provides developers with strong type-checking and reduced runtime errors, making it an ideal choice for building high-performance decentralised and AI applications. This gives developers the flexibility to create secure and efficient applications with ease, reducing development complexity.
As an object-oriented programming (OOP) language that integrates seamlessly with Microsoft's ecosystem, it is well suited for the building of machine learning models and the development of AI applications—this is a boon for developers zeroing in on intelligent AI solutions.
2. aelf Playground
The aelf Playground is designed to make blockchain development accessible to everyone. It provides an easy-to-use, sandbox-like environment where developers can test and experiment with their projects before deployment. The Playground offers a seamless, user-friendly interface, enabling both seasoned developers and beginners to build, test, and deploy smart contracts without the usual technical hurdles.
3. Educational Resources and Developer Support
aelf is committed to fostering innovation and growth within its community. The platform offers a wealth of educational resources and developer programs, helping new and experienced developers alike to build on the blockchain. From comprehensive guides to hands-on support, aelf empowers its community to explore the full potential of Web3.
By offering a powerful combination of AI-enhanced tools, a developer-friendly programming environment, and advanced scalability features, aelf positions itself as a top-tier platform for blockchain development. Whether you're a seasoned developer or new to blockchain, aelf provides the tools and resources to bring your ideas to life.
4. AI-Enhanced Smart Contract Deployment
The integration of artificial intelligence (AI) into aelf is set to introduce a level of automation in the creation and deployment of smart contracts, making the process much more accessible and efficient.
With the implementation of machine learning for smart contracts, developers can benefit from error reduction during the development of smart contracts. For non-technical users, aelf’s Natural Language Processing (NLP) integration, set to take place in Q4 of 2024, will allow them to create smart contracts simply by describing their needs in plain language, which the system then translates into executable code. This not only accelerates the deployment process but also ensures enhanced accuracy and security.
Additionally, AI-driven audits provide automated reviews of smart contract code, identifying vulnerabilities and optimising performance before deployment. Through these innovations, aelf has made the creation and deployment of smart contracts far more streamlined and accessible to a wider audience, significantly lowering the barriers to entry.
For a deeper dive, you can refer to aelf’s Whitepaper 2.0.
5. Parallel Processing and ZK Rollup
One of aelf's standout features is its support for parallel processing, which allows multiple transactions to be processed simultaneously. This dramatically improves the scalability of the network, enabling it to handle higher transaction volumes without congestion.
Additionally, aelf is exploring the ZK Rollup technology, a Layer 2 solution that further enhances scalability and reduces transaction fees, making the network more efficient for developers and users alike.
What Are the Security Measures Implemented by aelf?
Security is a top priority for aelf, and the platform has implemented several robust measures to ensure the safety and integrity of its blockchain ecosystem.
- Comprehensive Security Audits
aelf's blockchain and ELF token contracts have undergone multiple security audits by top-tier Web3 security auditors, including Certik. These audits rigorously assess the platform's code to identify vulnerabilities, ensuring that no critical issues remain unchecked. The audit reports are publicly available for transparency, providing users with confidence in the system's safety.
- Clean Security Record
Since its launch, aelf has maintained an impeccable track record with zero security breaches. Security remains a top priority, and the team continually strengthens its infrastructure, ensuring that all assets, smart contracts, and data are well-protected.
- Transparency and Communication
aelf fosters an open and transparent ecosystem, with regular updates, security insights, and announcements shared via official channels. The availability of comprehensive documentation, including a detailed Whitepaper 2.0, allows users to stay informed about the platform's security practices and protocols.
By combining rigorous audits, continuous monitoring, and transparent communication, aelf ensures the security and reliability of its blockchain network, fostering trust within the Web3 community.
What Does the Future of aelf Hold?
With a strategic focus on integrating advanced AI technologies, aelf is actively improving scalability and enhancing user and developer experiences.
For the platform to be made more accessible and efficient, aelf has partnered with top AI infrastructure providers like ChainGPT to fully integrate AI into its blockchain; starting with AI chatbots on aelf's digital channels, the journey ahead will see smart contract generators, AI trading assistants, and an AI-focused launchpad.
By continuing to refine its multi-chain architecture and potentially incorporating Layer 2 solutions like ZK Rollups, aelf aims to handle higher transaction volumes while maintaining performance.
To drive mass adoption, aelf will continue to work with partners in the AI space, provide educational resources, and continuously improve user experience. With completed milestones like AI-based smart contract audits and machine learning for smart contracts, the platform is positioned to make blockchain technology more accessible to a wider audience. NLP tools for non-technical users and an AI oracle are next in line to make building on aelf a more exciting prospect.
For a detailed view of upcoming developments, you can refer to aelf's latest roadmap here.
Explore dApps Built on aelf
The aelf ecosystem is home to a growing array of dApps that leverage its scalable, multi-chain architecture.
From DeFi platforms and NFT marketplaces to gaming and AI-powered dApps, aelf provides the infrastructure for developers to build innovative solutions across various industries.
Popular dApps such as AwakenSwap and Portkey showcase aelf’s capabilities in facilitating fast transactions, low fees, and cross-chain interoperability. As the ecosystem expands, more cutting-edge dApps are expected to join, driving the growth of Web3 on the aelf blockchain.
Decentralised Finance (DeFi)
aelf offers innovative solutions for decentralised finance, ranging from token swaps to seamless cross-chain transactions. These platforms empower users to manage assets, trade tokens, and bridge between blockchains with high efficiency and low fees.
AwakenSwap
AwakenSwap is a decentralised exchange built on aelf, offering users fast, low-fee token swaps. It enables seamless trading across the aelf ecosystem with an emphasis on speed, scalability, and user-friendly interactions.
ETransfer
ETransfer facilitates instant, secure token transfers within aelf’s multi-chain structure. Designed to streamline the user experience, ETransfer supports high-speed transactions and reduces the complexities of asset transfers. The supported chains include the likes of Ethereum, Solana, The Open Network, Polygon, Binance Smart Chain, and more.
eBridge
eBridge is a cross-chain asset transfer protocol, allowing users to securely move tokens between aelf and other blockchain networks. It enhances interoperability, making it easier to manage assets across different chains.
eWell
eWell is an Initial DEX Offering (IDO) launchpad on the aelf network that facilitates DeFi fundraising and investment. The platform supports flexible participation in DeFi, enhancing the aelf ecosystem’s liquidity and reward structure.
Infrastructure
aelf’s infrastructure provides the backbone for blockchain development, supporting a range of dApps and platforms. These tools and services make it easier for developers to deploy scalable applications while maintaining efficiency and security.
TMRWDAO
Tomorrow DAO, abbreviated TMRWDAO, is a decentralised autonomous organisation (DAO) aimed at fostering cross-industry collaboration and innovation within the blockchain ecosystem. The platform serves various enterprises to unite and share resources, knowledge, and expertise.
TMRWDAO has a collaborative initiative with aelf called Network DAO, where it provides decentralised governance for both Block Producers (BPs) and community members. It allows proposal submission, voting, organisation management, BP elections, contract management, and resource token trading.
AeFinder
For developers building dApps on the aelf blockchain, AeFinder offers fast, reliable, and cost-effective data indexing and retrieval. It simplifies the process by eliminating the need for manual node deployment and complex infrastructure setup. AeFinder also provides comprehensive documentation and support to help developers get started.
aelfscan
aelfscan serves as the premier block explorer and analytics platform for the aelf blockchain. Users can check transaction details, track block information, and monitor smart contract activity, all within the aelf ecosystem. aelfscan empowers developers and users alike to gain transparency and insights into the aelf network's operations.
Wallets
Wallets are the gateway for users to interact with the aelf ecosystem. aelf supports several wallets that offer seamless integration for storing, managing, and trading digital assets, all while ensuring top-notch security.
Portkey
Portkey is a non-custodial account abstraction wallet designed for seamless interaction within the aelf ecosystem. It offers users a simple and secure way to manage their assets, trade tokens, and access decentralised applications (dApps) across multiple chains, all with the ease of social recovery features for added convenience.
NightELF
NightELF is an Externally Owned Account (EOA) wallet for the aelf blockchain, providing users with a secure, efficient tool to manage ELF tokens and interact with dApps. It offers fast transactions, multi-signature support, and ensures a smooth user experience for both beginners and experienced blockchain enthusiasts.
Gaming
The gaming landscape on aelf is expanding, with blockchain-based games offering immersive, decentralised experiences. These gaming dApps integrate token economies, NFTs, and AI to provide unique and engaging experiences for players.
HamsterWoods
HamsterWoods is a blockchain-based game where players manage and grow a virtual hamster village. It combines DeFi mechanics with gaming, allowing players to earn rewards as they expand their hamster community.
NFT / Social Quests
NFTs and social quests on aelf empower users to participate in gamified social experiences while creating, trading, and earning unique digital assets. These platforms provide a vibrant ecosystem for NFT creators, collectors, and questers alike.
Project Schrodinger
Project Schrodinger is the world's first AI-powered 404 NFT collection merging art and AI; users get to adopt and collect digital cats as pets. Each cat's traits and design are unique and determined by the AI algorithm. The rarer the cat, the higher the amount users can trade it for.
NFT Forest
Forest is the first NFT platform and marketplace built on aelf. It enables users to trade unique NFTs within a gamified, community-driven ecosystem, and it also has an in-built AI NFT generator to help users easily get started with creating their digital collectibles.
PixiePoints
PixiePoints is a reward system that incentivises social engagement on decentralised platforms. Users can earn PixiePoints through various activities, which can be redeemed for NFTs, tokens, or exclusive rewards within the aelf ecosystem.
Inscription
Inscription is an inscription marketplace for the creation and trading of 'inscribed' NFTs on the aelf blockchain. It features advanced tools for deploying NFTs with metadata recorded on aelf blockchain.
Symbol Market
Symbol Market is an NFT marketplace designed for the aelf blockchain, offering a wide array of digital assets from artwork to in-game items. It provides users with a streamlined interface for creating their own tokens and NFTs by acquiring unique SEEDs.
Symbol Market is the marketplace to purchase SEEDs. Unique to aelf, SEEDs serve as credentials for deploying tokens, NFT, and inscription collections. Symbol Market frees users from the complexities of deploying smart contracts or coding manually.
Partners in Artificial Intelligence (AI)
Artificial Intelligence is integrated into various platforms on aelf, making processes more efficient, scalable, and intelligent. aelf has formed strategic alliances with these partners in the AI space, and they have been instrumental in enhancing blockchain operations, from smart contract generation to decentralised computing solutions.
Aethir
Aethir is an AI-driven cloud platform designed to optimise computational workloads for Web3 gaming and metaverse projects. By leveraging decentralised cloud computing, Aethir ensures scalability, cost-efficiency, and reduced latency for high-demand applications.
Nukl.ai
An AI platform that streamlines game development by automating NPC behaviour and dialogue systems. Nukl.ai has intelligent algorithms that help developers create immersive, interactive gaming experiences with minimal effort.
ChainGPT
ChainGPT is an AI-powered platform that provides smart contract generation, blockchain analytics, and NFT creation tools. It serves as a comprehensive solution for developers and businesses looking to leverage AI to build, manage, and optimise blockchain applications.
Genify
Genify is a gaming platform focused on merging blockchain with AI to offer dynamic gameplay experiences. It enables developers to create personalised, evolving game environments where users' actions can shape outcomes in real-time.
*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.
Find out more about aelf and stay connected with our community:
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