How is aelf relevant to you and me?
A project can be developed perfectly but if it has no real world application then it will not be successful and have a mainstream uptake. Blockchain projects which are heavily technical and have foundational elements sometimes struggle at communicating how they relate to the majority of users. This article breaks down and conveys in easy illustrations how aelf is vital for the future of blockchain and overall technical advancement in many industries.
aelf is stepping into a new era with a foundational multi-chain Platform which will allow dApps to be built upon it with full customization and blockchain interaction. It will run the Main Chain (Network Backbone) with DPoS consensus allowing mass scalability and speed retainment.
When I first heard about the aelf project the first question I asked was, “Great! But how is this useful for me and other average people?”
I was surprised and excited with what I found.
aelf is currently developing the MainNet which is due for release in Q4 2018 and mainstream adoption in Q1 2019. The Main Chain is the foundational blockchain which will be running and maintaining all chains running on the network. It will be taking care of the consensus/security of the whole system.
If one decides to build a dApp on the aelf network they will be able to choose from varying levels of development. In other words, instead of having to build an app from scratch and develop the underlying blockchain, one can have all the hard work already done by the aelf model and you can create it with minimal development input. One way I like to describe it is that aelf is the ‘WIX’ or ‘Wordpress’ of blockchain app development. Everyone can build a website through Wordpress within about an hour. All they need is to choose the layout and know what content they want on it. This will be the same with building a dApp on the aelf network. Additionally, there will always be the option to go deeper into the development and create your project from scratch should you desire.
This is aelf.
The ‘languages’ of the blockchain world are known as the consensus models. As mentioned above, the Main Chain will run DPoS for multiple reasons mentioned in this article. The side chains (individual blockchains running any particular dApp) will also run DPoS, but they can run PoS or PoW or any other consensus model chosen by the individual developer(s). Ethereum and Bitcoin are currently running PoW (Proof of Work). Ethereum is looking at moving to PoS (Proof of Stake) eventually and many other chains are already running PoS. Not only does this add to the customisation that is included in the side chains but it also ‘future-proofs’ the aelf network. PoW is currently a main consensus model, but there is a large possibility this will not be used in the future as better consensus models get developed. Indeed we are already starting to see some of the growing pains with PoW.
If the sidechains run on DPoS then they will also be able to share with the resources. These resources will be used very efficiently compared to current standards. This will be as a result of the cloud computing structure. Currently all transactions need to go through every single mining node (PC) which means the system is only as fast as the slowest PC. With the cloud computing structure, each node is made up of a cluster of PCs which means resources are shared and multiple jobs can be completed simultaneously.
Here are some examples of where aelf can benefit your everyday life:
Let’s say you purchase a video game in a shopping centre and then you go home, turn your PC on and it already downloaded and you are ready to play. The network running the game shop’s database is running on aelf and so is your gaming platform and they are communicating with each other.
What about when you visit the Doctor and get a prescription for some medicine. You then need to take this to the chemist, wait in line, and then wait for the chemist to make your prescription. Now imagine the Doctor writes the prescription and you go to the chemist where the medicine is made and ready for you. This is another example of two blockchains working together.
This next example is something else… This one I think is revolutionary and crazy at the same time. There are some fridges which are smart fridges and know when you run out of a type of food. There are also shopping services which allow delivery of groceries. Imagine when you run out of certain foods your fridge sends your shopping list to the store and pays for them. Once there is a crucial food on this list it then sends a notification asking for the goods to be delivered to your door. You literally don’t need to go grocery shopping again!
I can’t finish this article without touching on congestion and speed as it is so core for the aelf network. A few months ago you all probably heard about the cryptokitties game which caused massive congestion on the Ethereum network slowing down transactions and increasing fees. This meant that every smart contract which was built upon Ethereum was slowed down. Due to the fact that no side chain runs data through its Main chain and is, so to say, isolated from every other side chain, should one chain get congested it will be isolated and not affect any other system. This will also initiate the emergency protocol which will call for voting to see if the system should move to another uncongested side chain or stay on the current one.
As you can see, the aelf network has unlimited real world applications. I have only mentioned a few here but I’m sure you can think of many more. Not only does aelf solve a number of problems with the current blockchain models in place, but it also creates the foundation for many new ideas and technologies to build upon.
This is why aelf excites me. This is why aelf is here, to change the world.