aelf Enterprise 0.7.0 Beta Version explained
Why It Is Crucial For Adoption
As part of the strategic phased network launch, aelf has released the Enterprise beta 0.7.0 blockchain platform.
It was with much anticipation that you, our community, was waiting for aelf to launch a platform worthy of our name. On May 1st, aelf officially announced the launch of Enterprise Beta 0.7.0 Platform. This is a full blockchain product, complete with a DevKit, blockchain Scanner, explorer and wallet, as well as a documentation library. This platform is primarily focused on bringing a product to interested enterprises to trial running their services on blockchain technology. This article will breakdown what the Enterprise Version really entails, its significance to aelf and the wider community, and why this is a vital step towards blockchain adoption.
Aelf Enterprise Beta
Have you ever tried to buy a really expensive item or something that you will use everyday, like a mobile phone. No matter how much research you do online, or what people tell you, in the end you have to go into the store and feel the item, play around with it and make sure it suits your needs. Enterprises are no different, we can convince a company that our platform is amazing, but until they see it, play around with it and make sure it suits their needs, they will be reluctant to make a firm decision.
This platform is, for all sense and purposes, a complete blockchain running live. It consists of a fully functioning Consensus Protocol using DPoS, Smart Contract system, voting mechanism, multiple token infrastructure, and cross chain interoperability features. This means, that with the aelf blockchain kernal, an interested party can setup and run their own node on the system complete with a functional smart contract. This is done with minimal coding and in essence, can be setup within a few minutes.
Going back to our mobile phone example, I remember every time my mum sets up a new phone, she is so worried about the setup thinking she will choose the wrong option, not knowing what she is doing and make the phone not work at all. But imagine if she had a trial version to play with before she got the real one, knowing no matter what she did, she would get a brand new phone at the end with everything setup correctly. This is the benefit of having an enterprise version for them to try out in-house before going full public. Meaning that an enterprise who has an application they would like to test on aelf can do so on the enterprise version with minimal effort. The fact that this blockchain is still in beta means that these enterprises do not need to worry about having the application go live, timeframes or costs.
Now you’ve gone to the store, you’ve played around with a dozen phones and you like different elements of each one but there isn’t that one phone that is perfect for you. I know the disappointment of having to settle for close enough. Imagine you could go to the store and say I want feature a, b, c, and d from these phones and they custom it and make the most amazing phone just for you. We’ve already thought of this, but on a blockchain platform. The blockchain is developed in a manner which allows the isolation of each module. Should an enterprise require a certain detail customized for their particular use case, they can isolate and adapt the specific module related to their needs, rather than having to adjust the complete code. As a result, there will be little effort and resources required to create a more customized solution for many enterprises. According to our discussions with many interested enterprises, this is one of the key driving forces that puts aelf ahead of the competition in their eyes. The customizability of aelf blockchain has captured the interest of many companies.
Ok, you’ve now found the perfect custom made mobile phone, that you know you will like. You open the box and go to read the manual to learn all about the rest of the phone you haven’t played with yet… only to find a 100 word warranty script. Not only that, but it comes with one charging cable and one headphone set. Now you need to spend 100 hours online learning about the phone, go to the store and buy 2 dozen charging cables and 2 more sets of headphones. Unfortunately this is often the case for blockchain platforms. They have poor documentation and any extra features are created by third party and can never been found from the one source. Early in the aelf development, we decided to change this stereotype. We have developed a fairly comprehensive library that is not only easy to understand, but written to provide a complete guide to any user that may wish to use aelf, regardless of their technical literacy. In the near future, we will publish a short video demonstrating the building of a node on aelf by using the documentation guides available publicly.
The Significance to aelf and Our Community
The process to which we have designed our mainnet launch was strategically developed for maximum effectiveness. When pushing adoption, we need to target the industry leaders, influencers and authorities. We specifically chose to release and enterprise version of our blockchain as the first fully function version.
Within the startup industry, it is no hidden fact that scams and half-hearted projects do exist. Projects which have little influence, no customer base, and minimal activity from the team. These projects tend to be ready to accept lower quality products and have little impact on their respective industries. This is a sad reality, one we have not ignored but understood to aid in developing strategies to ensure our potential for success is maximized. Aelf focuses on our larger enterprises, strategic partnerships and building a reliable ecosystem. These companies enforce a top down approach. This is easier said than done as enterprises require a very strong product, so as to compete with existing and proven platforms like IBM, Oracle, and Microsoft Azure.
We have often mentioned that we prefer to release a solid and comprehensive product at the right time, rather than a fast and half completed product at the wrong time. At the end of the day, our success will revolve around our ability to push enterprise adoption towards blockchain. The companies that we are building partnerships and relationships with, such as poseidon, VCC and others soon to be announced, have seen this quality tech and are convinced we are the right solution needed to drive their applications to run on blockchain technology. These companies have influence and a strong community behind them, they have their own push for adoption. Due to their size and resources they are open to new technology with the man-power and assets to make a real change. They have the ability to aid in aelf’s success. This serious approach has not gone unnoticed, and has been mentioned by other enterprises as giving them confidence that aelf can deliver on the promises we have stated.
What do Established Enterprises look for in Blockchain
As mentioned above, this is no easy task. Although they may have confidence in the team and company, enterprises require strict technical requirements, with a solid foundation. This is why it is essential that we approach these companies with a fully function product and why our individual modularized approach has been vital to our success. This has created an environment which is simple to understand and specify the components affected by a company’s specific needs. But this alone does not make the tech solid enough to compete with big tech products like Oracle and Microsoft Azure.
Going back to the mobile phone example, if someone wants to compete they need to compete at the level of the market leaders. There is no point bringing in a product that is copying what is already on the market. To make a difference you need to bring a phone that is more powerful, high resolution and looks sleeker than anything else currently available.
We have also needed to ensure the scalability is at setting a new standard and holds a high level of efficiency and stability. In August, 2018, we announced our baseline test results for the aelf blockchain performance at almost 15,000 TPS. To put this in perspective, Visa and mastercard currently process approximately 2,000 TPS, and paypal processes under 200 TPS.
The scalability battle has been raging for the last few years, and projects are having to be innovative to be able to compete. This is why we introduced the innovative concept of parallel processing. Think of the revolution of the multi processor CPU. Without it, we would never have had phones that have the capability of a small computer. Now even the cheapest smartphone has a multi-core processor. The concept of parallel processing was a game changer in Processors and it will be a game changer in blockchain. In 10 years from now, it will be the norm.
We have not only incorporated parallel processing, but also cluster nodes and database separation in order to be able to achieve such a promising result.
So you’ve got a phone that is customized, powerful, leading edge and just what you need. Then you find out that you can only call and message others who have the same brand phone. This is the current state of blockchain. If you have a dapp on ethereum, then you can only talk to others on ethereum, if you run on EOS, then it’s tough. But could blockchain really make a difference in the world if this isn’t changed?
We don’t think so, so we have made the change. We are in the league with projects like Polkadot and Cosmos who also have put a strong importance on blockchain interoperability. We believe this is a key function which has been crucial in the ability for enterprises to consider aelf. We allow the interoperability between blockchains, not only in regards to the read function from other blockchains, but you can theoretically allow the triggering of a smart contract from another chain by an action of a blockchain running on aelf.
At the end of the day, the launch of our Enterprise Beta version was a crucial step in the adoption of aelf by large enterprises. Not only can they now test their applications and the performance of our blockchain, but anyone can setup a functioning blockchain within 5 minutes. These companies are after practical and real world solutions, they seek a working product that proves it will be better than their current solutions. This is what aelf does.
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