aelf

Aelf consists of one main chain and numerous side chains to run smart contracts on the platform. The main chain is the backbone of the system and can interact with outside blockchains, while each side chain is dedicated to a specific type of smart contract. Side chains are isolated from each other and must communicate through the main chain. This side chain approach, similar to Ethereum's sharding, helps the network scale efficiently by preventing bloating in one area from affecting the entire network.

Aelf uses a Delegated Proof-of-Stake (DPoS) consensus mechanism on the main chain. ELF token holders vote to elect mining nodes, who are then responsible for validating transactions, packaging blocks, and transferring data. Side chains are encouraged to develop their own customized consensus protocols to suit their specific needs. The ELF token is used to pay transaction fees on the main chain, with side chains that contribute more to the ecosystem paying lower fees.

Aelf was founded by Ma Haobo, who previously founded Hoopox and served as CTO of GemPay and AllCoin. The project has received significant investment from over 10 venture capital firms, including Draper Dragon, Blockchain Ventures, and FGB Capital. Since the token sale in 2017, Aelf has formed partnerships with projects like Decent, Theta, and U Network, and is in the process of building out its product roadmap.