ælf is a decentralized cloud computing blockchain network with high performance, resource isolation, and a more complete governance and development structure. In the ælf network, nodes are divided according to type, and specialized accounting nodes (full nodes) can run on server clusters to improve the performance of the entire blockchain network; the "main chain + multiple side chains" structure effectively realizes resource isolation and "one chain, one scenario"; a proxy voting system for token holders is established to ensure efficient governance and healthy development of the network. ELF is mainly used for ælf's paid resource payment and governance decision-making, where paid resources include smart contract deployment, upgrades, and execution operations (such as transaction fees, cross-chain data transmission fees, etc.), and governance decisions include the election of accounting nodes, the approval of new system features, and decisions on major product updates.
main feature:
1. The design concept of main chain and multi-level side chain is introduced to handle different business scenario models. Each chain targets a business goal, and different businesses are allocated to multiple side chains to improve processing efficiency;
2. Can communicate with external blockchains through messages, such as Bitcoin and Ethereum;
3. Allow parallel computing for non-competitive transactions and cloud services;
4. Define the minimum viable block and genesis smart contract set for each chain, thereby reducing data complexity and achieving high customizability;
5. Allow stakeholders to modify the protocol, including redefining the consensus mechanism;
6. Allow side chains to dynamically join or exit the main chain based on the consensus mechanism, introducing competition and motivation for improvement among side chains;
Elf Token System — Elf tokens incentivize honest behavior in the system
All aelf sidechains accept aelf tokens as a store of value and a means of exchange. Tokens can be transferred between sidechains that accept aelf tokens. When a sidechain is indexed by the mainchain, it receives some locked tokens from the mainchain. When the sidechain receives transaction fees, it also shares them with the miners of the mainchain. When the mainchain finds that indexing a sidechain is not economically profitable, the mainchain has the right to stop indexing, or allow two sidechains that provide the same service to compete with each other.
Elf's main goal
1. A highly customizable OS for commercial applications. Our vision for aelf is an efficient, highly customizable OS. We expect it to become the "Linux" of blockchain. Take Linux as an example. The Linux kernel and various Linux versions together form a large and successful Linux family. The Linux kernel solves the most basic, critical, and developer-intensive parts, allowing other developers to develop customized systems based on application scenarios and customer needs. This makes Linux the most popular server operating system and supports the development of various industries. The same concept is also applied to the design of aelf. First, we define and implement the aelf kernel, which contains the most basic functions required by a blockchain system, that is, a minimized blockchain system. Second, we will develop a "shell" as the most basic interface to interact with the kernel. Users can use the complete blockchain OS or quickly develop a customized OS based on the kernel through this interface.
2 Cross-chain interaction aelf will interact with Bitcoin, Ethereum and some other blockchain systems. The cross-chain interaction with these mainstream chains will be realized through messages. And based on the cross-chain interaction, a natural multi-level cross-chain structure will be formed to share digital assets, users and information.
3 Performance Improvement In traditional IT architecture, distributed architecture is a very popular architecture for solving system bottlenecks. Blockchain systems should also support parallel processing. For example, multiple transactions without data contention can be processed in parallel to improve transaction efficiency. In addition, when a chain becomes too complex to be processed effectively, it should be divided into several parallel chains to divert traffic. The initial design of a high-performance blockchain should focus on specific business scenarios, rather than universally processing all smart contracts on the same chain. In order to provide the ultimate performance for business needs, the chain must be able to provide efficient and customizable data structures, smart contract logic, and consensus mechanisms designed specifically for specific business goals. In addition, aelf can define and trigger a system snapshot mechanism. After a specific period, the system will take a snapshot of the current data and discard the detailed transaction data before the snapshot. A new genesis block will contain all transactions. This idea has been used in traditional IT database systems to reduce system expansion problems.
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