Recap: Sep. 3rd AMA in aelf Community

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Sep 3 · 4 min read

The AMA was held at 10:30 A.M. on September 3rd (GMT+8) in aelf English community. The questions are answered by the Qi — PR specialist from aelf. Here is the review of the whole event.

Q1: Since we have some new members in the community, could you please tell us what is aelf?

Our project was founded in 2017, headquartered in Singapore. We provide the most user-friendly open resource blockchain infrastructure for users and developers around the world.

We innovated on the multi-sidechain systematic structure as well as the cross-chain collaboration mechanism.In this case, aelf network has unlimited scalability to solve today’s most pressing issues on PERFORMANCE and CROSS-CHAIN function. That’s how we will bring the future digital economy to the next era.

Q2: How did the concept come about?

It comes from the avatars of elves. They are smart, pure, and magic creatures.

Q3: Can you please tell us more about why is aelf needed?

As mentioned before, the industry has two problems — performance and cross-chain function.

Performance.

Two groups of people have been trying very hard to fix the issue in the past years. They are trying to develop an Ethereum Layer 2 to embed an EVM engine. Unfortunately, EVM today is not strong enough to support parallel transactions. In this way, the Layer 2 developers are facing challenges in the long term of time. Also, earlier in August, Ethereum finished the EIP 1559 upgrade, trying to reduce the gas fee. It turned out the price of ETH was plump. Consequently, the cost for Ethereum users did not actually go down.

But aelf is DIFFERENT. We are offering a brand new solution.

Thanks to our independent cloud computing center, aelf Enterprise has approached 35,000 TPS on a single sidechain, multiplying the numbers of side chains. We can say we are capable of executing transactions within seconds. And the gas fee will be fixed at 0.1 dollars.

2. Cross-chain Function.

We developed aelf mainnet + aelf versatile oracle. The combination of the two products could open up the two-way highway among all projects!

Q4: What exchanges will support ELF mainnet token swap?

We’ve been in contact with a number of exchanges. What I can disclose at this moment is that we will do a trading contest on Huobi Global.

Regards to supportive exchanges, usually exchanges will publish their announcement one day before the start. I will have to leave the power for the announcement to our partners.

Q5: Who are the primary beneficiaries of aelf?

First, our token holders.

Second, developers. The developing framework is super easy and super user-friendly. This is the keystone of how diversified ecology will bloom on us.

From a macro perspective, aelf is a fully-functional blockchain infrastructure. We are connecting with all the existing ecosystems, including but not limited to Bitcoin, Ethereum, DeFis, etc. Sooner or later, EVERYONE in crypto work could surf at the highest freedom with aelf’s ultimate performance and cross-chain function.

Selected Questions:

Q1. When ELF/USDT pair will launch on Binance?

At the beginning of the year, we asked Binance about adding ELF/USDT trading pairs, and we also learned about Binance’s requirements for increasing stablecoins trading pairs. We will continue to strive for it.

Q2. Are you afraid someday there will be another project with more innovative technology that can replace your project?

We all see how crazy the market was a couple of months before when a lot of meme coins launched every day. But they erased from the top news just in days.

My personal opinion is that other than the price of the token, spend some time researching and looking into the ideology and the core competence of the project before investing in it. And aelf is famous for our technology.

Q3. Where can I currently buy tokens?

ERC-20 ELF is listed on many famous exchanges, such as Binance, Huobi Global, Gate, Kucoin, OKex, and many more. For more markets, please use the following link as a reference: https://coinmarketcap.com/currencies/aelf/markets/

Q4. Is it a Two-way swap?

It’s a one-way swap. Once swapped to the mainnet token, it can not be swapped back to ERC-20 tokens.

Q5. What are the countermeasures against the risks of the Chinese government’s Cryptocurrency regulation?

As mentioned before, aelf headquarter is in Singapore. We have completed the full legalized paperwork. So don’t worry.

Next event:

In the coming days, we will hold more AMA with Turkey, Korea, and Vietnam communities. Stay tuned!!

5 Lucky people who will get 100 ELF reward for aelf English AMA are: @yoYoyoyoyoyoyooyo @davelee81 @Za @shilelee @MaireBolden

aelf

Tomorrow is running on ælf.