ELF Token ELF Token

$180.00 -11.67% ELF
Volume (24h)
$23,890,679,446
24h High
$190.00
24h Low
$152.00
Circulating Market Cap
$78,644,222
Total Market Cap
$107,471,860
Bid / Ask
$179.82 / $180.18
24h Trades
28,203

What is it?

The Token: aelf (ELF) is an ERC-20-based token that operates on the Ethereum platform. It is utilized as the primary token within the aelf ecosystem and plays a significant role in its functioning, as discussed below.

The Platform/Project: aelf is a decentralized, AI-enhanced Layer 1 cloud computing blockchain network. Leveraging the robust C# programming language, aelf's multi-layered architecture ensures efficiency and scalability across its mainchain and sidechains. Founded in 2017 with its global hub in Singapore, aelf pioneers blockchain evolution in Asia by integrating state-of-the-art AI and modular Layer 2 ZK Rollup technology. This sophisticated setup aims to achieve scalability, enhance performance, and provide resource segregation for decentralized applications, all while maintaining a developer and end-user-friendly environment. With its unique "one chain to one smart contract" system, aelf ensures that business applications have independent blockchain systems, avoiding performance interference.

What is it used for?

ELF tokens have various uses within the aelf ecosystem:

  • Resource Allocation: ELF tokens are used to obtain resources on the aelf network, such as storage or computing power.
  • Staking and Governance: Token holders can participate in network governance, making decisions about upgrades, parameter adjustments, and other changes to the aelf system.
  • Transaction Fees: Sending transactions or deploying smart contracts on the aelf network requires ELF tokens as fees.
  • Cross-chain Interaction: ELF tokens facilitate interoperability between the main chain and side chains, ensuring smooth and efficient communication between them.

Who created it?

aelf was co-founded by Ma Haobo, who is also the CEO. Before establishing aelf, Ma Haobo had experience in blockchain, having founded Hoopox, a blockchain technology team. Since its founding in 2017, aelf has been led by a team of highly experienced Web3 veterans, including its current CEO Auric. aelf's innovation-driven leadership and early global exposure, including its 2017 introduction at a Coindesk conference, have helped it secure investments from prominent institutions such as Arrington Capital, Draper Dragon, and Galaxy Digital. Following a successful Testnet launch in 2018, aelf’s Mainnet was officially launched in 2020.