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Aelf is a project that could ultimately change the way we see the blockchain infrastructure. CCN spoke with Zhuling Chen, a graduate of MIT and co-founder of Aelf, who sincerely wants to create a user-friendly blockchain developer and operating system with high reliability.
A privately-owned ICO has financed its development so far to remain regulatory neutral, but tokens can be purchased in various exchanges for those wishing to invest in advance or explore development opportunities.
Its main difference compared to NEO or Ethereum is an alternative way to design a blockchain. Rather than having everything confirmed in the main blockchain as with Ethereum, Aelf offers a multi-chain architecture, where private and public sidechains can run their own nodes or rely on Aelf nodes for processing. of transactions. The reason for this is that Aelf wants to have high availability and incredibly high capacity per second of the transaction.
We want to be a very powerful intelligent contract platform from a public blockchain point of view. What we believe fundamentally is that if we have thousands of applications in the future, they should not be put on a blockchain, because that only gets messy and that's right, and none of the applications has the guarantee of their performance. That's why for Aelf, the first thing we did was to establish a multi-chain structure.
Operating on Aelf will give important advantages to tokenised projects that have blockchain requirements. Chen said the company is trying to offer "nodes as a service", so that companies that can not scale fast enough in terms of infrastructure will be able to manage simple rental nodes to process their sidechain transactions. Cross-communication with other applications is also expected. Perhaps the most exciting perspective of Aelf and blockchain in general for some forms of development, such as games, is the potential for the shared user base – identities can be transferred between sidechains similar to Google Play authentication. Store for Android games.
Aelf will be a mix of public and private blockchains. Companies can launch blockchains that fully control and take advantage of standardized technology and use the services offered by Aelf's core network, as potentially an identity verification service.
Not everything needs a blockchain
Lately people in the industry have begun to realize that you can not simply block all things. There are many reasons to use a blockchain, but there are also many reasons for not doing so. Chen understands it, and believes there are some key use cases in which the blockchain works, and some where they do not. For him, the main indicator of the need for blockchain is the value of information that is replicated, archived or moved.
Surely blockchain is not for everything. Indeed, sometimes blockchain could be more expensive to perform than a centralized system. I tend to think that a centralized system is better for the flow of information. In this way it is possible to replicate information at any speed, regardless of whether the information is valid or not. But blockchain, on the other hand, only needs to take precious things. This is why we are examining potentially valuable information that should be put on the blockchain, which allows multiple parties to work in a more efficient and reliable environment.
The future of Blockchain depends on dApps
The dApps are what will determine the future of the blockchain, in all cases. Perhaps the killer dApp theory is exaggerated with the rosy representations of a future blockchain, but certainly the general necessity of blockchain services is based on the needs of an increasingly mobile market and increasingly open to alternative technologies and even to currencies.
The recent launch of the FINNEY smartphone and, above all, the underlying operating system, I hope to usher in a "was to raise for the blockchain. A mobile environment that can safely manage cryptocurrency safely is perhaps all that is missing. While the FINNEY $ 999 price itself is perhaps a barrier to entry, a wide range of phones is possible through the open nature of the operating system itself. At dApps, Ethereum dApps, NEO dApps – they can live side by side in such an environment over time.
Chen believes that the success of the Aelf network will come in one or two really amazing dApps, and his company is actively looking for projects that could adapt to the project, even if there is no news on what this specific aspect might be. The project is still young and in the testnet phase, but they are working hard as evidenced by their activity on Github.
Ultimately, the user experience should be that they really do not feel any difference if they are using Aelf or other services, relying only on the app, right? So we hope it will be like a more universal wallet that automatically like conversions and archiving, so that they do not have to use Metamask or equivalent or manage it themselves. I feel that Kyber is already doing it, allowing token token exchanges.
It is important to underline that Aelf currently allows the writing of intelligent contracts in C #, one of the most popular programming languages in the world and a necessary competence for development in a Microsoft Windows environment, but later intends to make them available in other languages too, example like Python. "We share the same opinion of NEOs about mass adoption," says Chen, referring to the whitepaper note that Aelf will support multiple languages.
The main network of Aelf is set to be ready by March 2019. CCN will certainly report on this, but there will potentially be news on Aelf's partnerships in the meantime.
Shutterstock foreground image. Photo by Zhuling Chen from Aelf.
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