Buying Aelf: how to invest in Aelf?
With the rise of cryptocurrencies, the rise of the underlying Blockchain technology is also becoming increasingly important. Aelf jumps into this emerging market. In this article you can read how Aelf works. You can also read the pros & cons to determine if it’s smart to invest in Aelf by buying the coin.
How can you buy Aelf?
You can actually see Aelf as an operating system for the blockchain: you can run dApps (decentralized applications) on it. Due to some improvements, transactions can be executed much faster. This application can make it interesting to buy Aelf, but what is the best way to do this?
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How can you actively invest in Aelf?
Do you want to actively trade in Aelf? This is possible with an online broker! At an online broker, you can use CFD’s to bet on both falling and rising Aelf prices. At eToro you can try trading CFD cryptocurrencies with a demo for free and without risk. Use the button below to open an account with eToro immediately:
What is Aelf?
Aelf supports blockchain systems that may experience problems for various reasons. It is thus an operating system for blockchain technology.
The idea behind Aelf is focused on the commercialization of blockchain technology and aims to create a network of decentralized cloud computing. The transaction speed of bitcoin is currently one second per 8 BTC. In comparison, a system such as Visa processes over 250,000 transactions per second.
Looking at the processing speed, there is clearly still a lot of work to be done to further develop the current blockchain system. This is the only way it can become the financial future. One problem that blockchain faces is the limited scalability.
Data is also disaggregated and the whole operates runs on a consensus algorithm. This algorithm checks both sides of a transaction for truths to make the ledger of transactions public. With the right consensus, fraud becomes impossible.
Aelf: how does it work?
Aelf is thus an operating system of blockchain with the aim of commercializing this technology. It is a cloud-based service that allows the use of parallel processes of information sharing. To achieve this, Aelf consists of several chains.
First of all, there is the main chain with some side chains. By using these side chains, the link with the main chain is less heavily loaded. This makes the system as a whole more resistant to large numbers of transactions. In this way it can achieve much better performance than is currently expected from current blockchain technology.
It also features an AEDPos consensus mechanism. This means that consensus is reached much more quickly, speeding up the process of posting to the ledger to check all transactions. Thanks to this mechanism, a reliable network is built that communicates directly between the different chains.
The main chain of the Aelf network can be seen as the backbone of the system. From here we communicate with all side chains. The side chains can’t communicate with each other, but they can communicate with the main chain. Each industry or currency can have its own side chain to relieve the main chain.
For example, with the current Bitcoin value and hype, a chain can be created specifically for Bitcoin. This chain would then be used to trade all transactions of this currency. An entire industry can also have its own chain. In this way, the current possibilities for each chain are efficiently used. This way, the backbone of the system remains unburdened by heavy transaction volumes.
Aelf token (ELF)
There are up to 1 billion Aelf tokens available that have been issued since 2017. These tokens are divided between different parties. During the launch 250 million tokens were released and other tokens are used for mining. The abbreviation for the coin is ELF, and it falls under the category of Altcoins.
The coin is traded on all major exchanges, and it is possible to hold it in an ordinary crypto wallet. In January 2021, the coin will be valued at $0.12. We will not make any statements about the possible future value of Aelf, but the technology being shared now seems promising.
The Aelf token is used within the Aelf network to carry out transactions within the chains. Actually, it is a fee that the side chains pay to the main chain for the use of the framework. This makes the system self-sufficient and future-proof.
Why should you buy Aelf (ELF)?
Buying and selling the ELF token (which is linked to the Aelf technology) is possible at many online crypto brokers. The coin can be purchased from every major crypto exchange and is also available in large volumes. In addition, it has become apparent that many large institutional investors have stepped into the ELF. This could indicate a lot of potential value in the future for this coin.
The blockchain network being set up here is therefore of great importance. Due to the scalability and security of this blockchain technology, it can help many sectors. Think of financial services, but it can also support the identification of digital identities. In the future, Smart Cities and the rise of ‘Internet of Things’ can also contribute to the growth of the technology.
The ELF coin is linked to Ethereum in the sense that they are based on the same protocols. This is the ERC20 standard for smart contracts. ERC means ‘Ethereum Request for Comment’. This standard ensures a secure connection within the system and a reliable network.
It also ensures that the consensus, as explained earlier, is implemented as quickly as possible. This can significantly speed up the process of the transaction over and above the protocol that Bitcoin is built on. ELF meets all the requirements of the ERC20. So, you do not need to worry about this when purchasing ELF.
What should you pay attention to when investing in Aelf?
Aelf is working with FBG Capital and Decentraland to build a digital city in the United States. In this city, different blockchain start-ups can cooperate with each other by means of virtual reality. This could provide a solution to problems for all parties by simply walking into each other’s homes online. The name of this city is Crypto Valley.
At the moment, it is still difficult for the various companies involved in blockchain and crypto to knock on each other’s door for help. Nor is there any other form of communication. Crypto Valley would therefore be a perfect solution. It would also put Aelf on the map even better.
Should you invest in Aelf?
There have been many predictions about the Aelf exchange rate in the past. Especially within the crypto community and the crypto influencers via social media channels. It is expected that the price will increase in the coming years. But as you know by now, investing in cryptocurrencies comes with risks.
If you do want to add Aelf to your investment portfolio, it is wise to invest in Aelf in moderation. Investing in cryptocurrency always remains a bit of a gamble and it is up to you how you deal with it. Aelf is certainly an interesting investment for your portfolio. This way, you can spread your portfolio and maximize your potential price gains.