Aelf: Blockchain Token – What is it?

2 min read

This episode of Blockchain Token – What is it? gives you the rundown of Aelf. No, not the Will Ferrell movie, or the aelf on the shelf. No, instead this Aelf is a platform for cloud-based decentralized computing. That’s a pretty vague statement, so let us break it down for you! Is Aelf the next evolution of super computing? Watch the video to find out!

Traditionally, you would conduct all your computing on a laptop. Simple. However, there are some issues that could arise if you are only using a personal computer. I know I’ve run into a few problems where my computer wasn’t up to snuff, I needed more storage or processing power.

The first answer that many have turned to is the cloud. The cloud is off-premise decentralized storage, so instead of keeping info on a hard drive, the cloud allows you to access your data as long as you have an internet connection.

The problem with the cloud? It’s still centralized. You have one point that stores your information, some server somewhere. And that’s a problem! If someone wants access to that information, they have a central hub to go to.

Aelf has turned to the blockchain to address this issue. As opposed to a cloud-based server, information is distributed across the network. Instead of one point of attack for malicious actors, they would have to hijack over 50% of the network, making it extremely difficult for the network to be hacked.

However, this is no easy task. Decentralized super-computing is still a new concept, with projects like Golem exploring, the space is likely to advance quickly. While many consider it fairly new to the crypto-scene, it has already gained traction in Asia, with a large amount of their funding coming from China.

The three main challenges Aelf aims to solve in the blockchain space are scalability, segregation of resources, and lack of pre-defined consensus protocol to adopt updates. They aim to implement Delegated proof of stake and the ability to create side chains in order to achieve this scaling.

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