Introduction
1. What is aelf?
aelf, an AI-enhanced Layer 1 blockchain network, leverages the robust C# programming language for efficiency and scalability across its sophisticated multi-layered architecture. Founded in 2017 with its global hub in Singapore, aelf is a pioneer in the industry, leading Asia in evolving blockchain with state-of-the-art AI integration and modular Layer 2 ZK Rollup technology, ensuring an efficient, low-cost, and highly secure platform that is both developer and end-user friendly. Aligned with its progressive vision, aelf is committed to fostering innovation within its ecosystem and advancing Web3 and AI technology adoption. For more information about aelf, please refer to our Whitepaper V2.0.
2. Who is the founder of aelf? What is his background?
Auric is the Co-founder and CEO of aelf. He is a prominent member of the Blockchain Experts' Commission of the Chinese Institute of Electronics and the China Computer Federation. Auric graduated from Tianjin University with a B.S. in computer science in 2012. His journey into the cryptocurrency world began during his university years when he started Bitcoin trading and, by 2013, was actively engaged in Litecoin and Bitcoin mining.
In 2016, Auric developed GemPay, a Bitcoin payment platform similar to BitPay, and an off-chain Gem wallet. This venture was followed by the establishment of a crypto exchange named Allcoin. In the same year, he founded Hoopox, a company that provides blockchain services to notable clients, including Hainan Airlines.
In 2017, Auric co-founded aelf, further solidifying his impact on the blockchain industry.
3. Who is running aelf? Who is managing aelf, and where is aelf's management team based in?
aelf is operated by a team of highly experienced Web3 veterans led by its founder and CEO, Auric. Together, they bring a wealth of experience, expertise, innovation and drive to the blockchain platform. The core management team is based in Singapore, ensuring that aelf is at the forefront of blockchain technology and development. To find out more about the key people running aelf, please visit or connect with us on LinkedIn.
4. What is the history of aelf?
The story of aelf began on 10 December 2017, when aelf's vision and plans were introduced to global investors at a Coindesk conference. aelf successfully completed its fund-raising significantly ahead of schedule, having secured investments from notable institutions such as Arrington Capital, Draper Dragon, Galaxy Digital etc.
In the same month, the ELF token was listed on six major exchanges, including Binance and OKEX. aelf Testnet was successfully launched in 2018, followed by another successful launch of the Mainnet in 2020.
aelf is primarily a multi-chain parallel computing blockchain network which was created to address several of the limitations of traditional blockchain systems, such as performance bottlenecks and data complexity. aelf's vision is to be a "Linux Ecosystem" equivalent for a blockchain that incorporates state-of-the-art IT design principles, which in particular allows developers to customise Chains to meet their own needs. For further details on aelf's original design and architecture, please kindly refer to aelf's original whitepaper.
5. What makes aelf different from other blockchains? Why is aelf unique?
aelf's unique strength lies in its underlying architecture, which utilises a multi-layered structure comprising a MainChain and multiple SideChains. This differs from a traditional Single Chain system in that aelf is a "Branched Ecosystem", where the MainChain works as the backbone of the system and connects to multiple SideChains. Compared with the traditional "one Chain to any type of Contract", aelf's "One Chain to one type of Contract" design allows aelf to distribute tasks efficiently and process transactions in parallel, significantly enhancing scalability and reducing congestion. At the same time, the SideChains are easier to manage and can be tailored for specific applications, enabling aelf to support a wide range of use cases without compromising performance.
The C# programming language forms the foundation of the entire aelf blockchain, which underpins aelf's ability to handle high transaction volumes and complex operations with ease. C# also offers a powerful foundation for AI integration in blockchain development, primarily due to its alignment with the .NET ecosystem, which provides a wide range of libraries and tools that facilitate the development of sophisticated AI models, including the integration of machine learning algorithms, natural language processing (NLP), and data analytics. The integration of AI into the aelf ecosystem marks a significant advancement in the blockchain’s operational capabilities which not only optimises performance and security, but also plays a crucial role in transitioning mass Web2 users to Web3 by significantly improving the overall user and developer experience.
For more information regarding what makes aelf the preferred choice for developers and users, please refer to our Whitepaper v2.
6. What is aelf's roadmap?
aelf's roadmap outlines aelf's strategic integration of AI technologies, focusing on enhancing user and developer experiences, optimising smart contract operations, and ensuring robust, scalable blockchain solutions that are on par with leading technologies. For aelf's latest roadmap, please kindly refer here.
7. Is aelf a scam? Is aelf safe?
aelf is not a scam. aelf has been building in the blockchain space since 2017 and rolling out consistent updates and features for its blockchain network and architecture. From 2017 to the present, the aelf team remains committed to delivering quality and value to the Web3 community.
For full details on aelf's latest updates, please head to https://blog.aelf.com/
8. Is aelf an elf? Why is it spelt differently?
While aelf might sound like elf, we're not in the business of magic and fantasy! The name aelf stands for an AI-enhanced layer 1 blockchain network, designed to make your Web3 experience more efficient and secure. Think of it as the high-tech cousin of elves, bringing magic to the blockchain world through innovation and technology. And as for the spelling—consider it our unique twist to stand out in the digital realm!
9. Where is aelf headquarters? Where is aelf's office?
aelf is headquartered in Singapore. aelf's registered office is at Marina Bay Financial Centre, 8 Marina Boulevard, Singapore 018981, Singapore.
10. How many employees does aelf have? How many developers does aelf have?
Based on the latest information, aelf has over 100 employees. The majority of aelf's employees are software developers. Please visit or connect with us on our LinkedIn page to find out more.
11. Is aelf hiring? Where can i apply for a job with aelf? How do I submit my job application?
We are always looking for talented individuals to join our team at aelf. Please check out our LinkedIn page for the latest job openings. You can also reach out to us via our contact form to submit your job application or for any inquiries. We look forward to hearing from you!
12. Can I buy Bitcoin on aelf?
As of now, Bitcoin (BTC) is not supported on the aelf blockchain. aelf's primary token is ELF, which is utilised across its ecosystem and dApps built on its infrastructure.
Nevertheless, do continue to stay updated via our website, blog, and social media channels. Once there's any new information, we will definitely share with our community as soon as we can. Meanwhile, you can trade Bitcoin on most centralised and decentralised exchanges.
13. Which crypto is supported on aelf?
The primary cryptocurrency supported on the aelf blockchain is the ELF token. This token has several functions within the aelf ecosystem, including governance, resource allocation, and staking.
As aelf is a multi-chain network with various sidechains, users can unlock utility with other tokens specific to dApps built on the aelf ecosystem, such as AwakenSwap, Portkey, and Project Schrodinger. Here are some of the supported tokens and stablecoins:
- ELF
- USDT
- BNB
- DAI
- ETH
- SGR
- USDC
14. Is aelf a chinese blockchain?
aelf is not a chinese blockchain. aelf is a layer 1 AI-enabled blockchain that was founded in 2017 with its global headquarters based in Singapore.
15. What is aelf's approach to regulatory compliance in different jurisdictions?
aelf adheres to local regulations in each jurisdiction where it operates, ensuring full compliance with relevant laws. The company conducts regular audits to maintain compliance and engages legal counsel to navigate regulatory landscapes. This approach ensures that aelf operates within the legal frameworks of different regions, maintaining its integrity and trustworthiness.
16. Is aelf associated with aelf union? What is aelf relationship with AelfUnion or AlyxUnion?
aelf is not associated with aelfUnion/alyxUnion. Please refer to our announcement dated Nov 2023: https://medium.com/aelfblockchain/clarifying-recent-allegations-about-aelf-e6bf697ab58b
17. Is aelf regulated by Monetary Authority of Singapore, National Financial Regulatory Administration or any jurisdiction?
Currently, aelf is not required and therefore not specifically regulated by either the MAS or NFRA.
Important Note: The regulatory environment for cryptocurrencies is dynamic. It's essential to stay updated on the latest regulations in your jurisdiction and the jurisdictions where a cryptocurrency project operates.
18. How does aelf plan to achieve mass adoption of its technology in the coming years?
To achieve mass adoption, aelf plans to form strategic partnerships with key industry players, providing educational resources and tutorials to help users and developers understand and utilise the platform. The company also focuses on continuously improving scalability and performance to handle increased user demand, ensuring that its technology remains accessible and efficient for a broad audience.
In 2024, we also announced our plans to focus our endeavours on improving AI capabilities and integration within our blockchain. All these efforts are driven by the aelf team to enhance our user experience and broaden our technology spectrum, ensuring that our developers can build state-of-the-art decentralised applications (dApps) with robust AI assistance, and drive adoption of blockchain technology.