$ 0.5567 USD
$ 0.5567 USD
$ 411.225 million USD
$ 411.225m USD
$ 18.214 million USD
$ 18.214m USD
$ 109.063 million USD
$ 109.063m USD
726.537 million ELF
Issue Time
2017-12-22
Platform pertained to
--
Current price
$0.5567USD
Market Cap
$411.225mUSD
Volume of Transaction
24h
$18.214mUSD
Circulating supply
726.537mELF
Volume of Transaction
7d
$109.063mUSD
Change
24h
+1.71%
Number of Markets
103
More
Warehouse
None
Github's IP Address
[Copy]
Codebase Size
0
Last Updated Time
2020-09-11 05:03:09
Language Involved
--
Agreement
--
Current Rate0
0.00USD
3H
+0.16%
1D
+1.71%
1W
-12.46%
1M
-5.4%
1Y
+83.66%
All
-73.9%
Aspect | Information |
---|---|
Short Name | ELF |
Full Name | aelf |
Founded Year | 2017 |
Main Founders | Ma Haobo |
Support Exchanges | Binance, Huobi, OKEx |
Storage Wallet | MyEtherWallet, Ledger |
ELF, also known as aelf, is a cryptocurrency that was founded in 2017. Its main founder is Ma Haobo. This particular kind of cryptocurrency is supported by multiple exchanges, such as Binance, Huobi, OKEx. In terms of storage, ELF can comfortably reside in wallets like MyEtherWallet and Ledger.
Pros | Cons |
---|---|
Diverse Exchange Support | Relative Newcomer |
Compatible with Various Wallets | Potential Future Market Instability |
Established Founder | Limited Historical Data |
The ELF cryptocurrency has several characteristics that users may find advantageous, as well as others that could possibly serve as hindrances or risks.
Pros:
1. Diverse Exchange Support: ELF is supported by multiple cryptocurrency trading platforms such as Binance, Huobi, and OKEx, which allows individuals to buy and sell these coins with relative ease.
2. Compatible with Various Wallets: Users of ELF have the flexibility to store their coins in different wallets. Some of the compatible wallets include MyEtherWallet and Ledger, which provide robust security features and user-friendly interfaces.
3. Established Founder: ELF was founded by Ma Haobo, who has a proven track record in the cryptocurrency universe. This lends some degree of credibility and reliability to the currency.
Cons:
1. Relative Newcomer: Being a recently established cryptocurrency (founded in 2017), ELF may not have the same level of acceptance or trust that older, more established cryptocurrencies possess. This uncertainty can influence investor confidence.
2. Potential Future Market Instability: The world of cryptocurrencies is notorious for its volatility. As a relatively new entrant, the ELF token could face significant market instabilities, which could affect its value.
3. Limited Historical Data: Due to its recent entry into the market, there is less historical market data available for analysis. This scarcity of data may impede forecast accuracy and potentially affect investment decisions.
The ELF token, also known as aelf, presents an approach to scalability that distinguishes it from other cryptocurrencies. Its unique innovation lies in its multi-chain structure, a setup of one main chain and numerous side chains, thus creating a “blockchain ecosystem”. This structure is designed to allow for distinct smart contracts to run on distinct chains in parallel, with the aim of greatly boosting transaction speeds and processing power.
Moreover, aelf's governance model also distinguishes its design. It employs a Delegated Proof-of-Stake (DPoS) consensus algorithm, meaning stakeholders with the most votes are responsible for validating transactions and maintaining the network.
It's important to note that while these features do provide ELF with certain technological advantages, comparing it favorably or unfavorably with other cryptocurrencies may not be appropriate due to the wide diversity in functionalities, mechanisms and underlying technologies within the vast world of cryptocurrencies. Each coin, including ELF, provides unique utilities and caters to different applications and ecosystems.
Circulating Supply
The circulating supply of aelf (ELF) is currently 643.57 million tokens. This means that these are the tokens that are currently available to buy and sell on exchanges. The total supply of ELF is 1 billion tokens, but the remaining tokens are not yet in circulation.
Price Fluctuation
The price of ELF has fluctuated significantly since its launch in September 2017. It reached an all-time high of $52.88 on May 10, 2021, but has since fallen to its current price of $0.374234 as of September 19, 2023.
There are a number of factors that can contribute to the price fluctuation of ELF, including:
Supply and demand: The price of ELF is determined by the supply of tokens available and the demand for those tokens. If there is more demand for ELF than there is supply, the price will go up. Conversely, if there is more supply of ELF than there is demand, the price will go down.
News and market sentiment: Positive news and developments surrounding ELF can boost demand for the token and drive up the price. Conversely, negative news and developments can dampen demand and drive down the price.
Overall market conditions: The cryptocurrency market as a whole is volatile and can experience significant price fluctuations. ELF is not immune to these fluctuations and its price can be affected by broader market conditions.
Additional Notes
aelf is a cross-chain operating system that provides a platform for developers to build and deploy decentralized applications (DApps). ELF tokens are used to pay for transaction fees on the aelf network and to participate in governance.
The aelf team is working on a number of initiatives, including expanding the aelf ecosystem and launching new features. If the team is successful in executing on its plans, this could boost adoption and demand for ELF.
Overall, aelf is a promising project with a number of potential benefits. However, it is important to be aware of the risks associated with investing in a cryptocurrency, including the risk of price volatility.
Investors should carefully consider their own risk tolerance and investment goals before investing in ELF.
How Does ELF Work?
The ELF cryptocurrency, short for aelf, operates using a unique multi-chain structure. It consists of one main chain—the aelf kernel—and multiple side chains. The main chain is the backbone of the system and is responsible for balancing the network load and performing bookkeeping functions. Each of the side chains, on the other hand, runs its own smart contract and handles its own transactions independently.
The separation of smart contracts across different side chains is designed to improve scalability and efficiency. Since each side chain processes transactions independently, the global network speed can increase because multiple tasks are executed in parallel. It also allows for customizability, as different side chains can follow distinct rules tailored to their specific use case.
In terms of ensuring network security and achieving consensus, the aelf network uses a Delegated Proof-of-Stake (DPoS) consensus algorithm. In this system, token holders vote for a set number of “delegates”, who then validate transactions and maintain the network. The weight of a user's vote is proportional to the amount of ELF tokens they hold. This approach is designed to achieve consensus while maintaining high network speeds and scalability.
Several exchanges support the buying and selling of ELF tokens. They include:
1. Binance: A globally recognized cryptocurrency exchange that supports numerous pairs for ELF, including ELF/BTC, ELF/ETH, and ELF/USDT.
2. Huobi Global: On this exchange platform, users can trade ELF against various cryptocurrencies, including BTC, ETH, and USDT.
3. OKEx: This exchange supports the ELF/BTC, ELF/ETH, and ELF/USDT trading pairs.
4. Bitfinex: A popular international exchange where users can trade ELF against USD and BTC.
5. Coinone:This South Korean exchange supports ELF/KRW trading pair.
6. KuCoin: KuCoin lists ELF and supports trading pairs such as ELF/BTC and ELF/ETH.
7. CoinBene: On CoinBene, users can trade ELF against USDT.
8. Bithumb: This South Korean based platform allows for trading ELF against KRW.
9. HitBTC: This exchange supports trading pairs like ELF/BTC, ELF/ETH, and ELF/USDT.
10. Bittrex: At Bittrex, users can trade ELF against BTC and USD.
Please note that the availability of trading pairs may vary from time to time based on market conditions and exchange policies. For the most current information, it's advisable to check directly on the respective exchanges.
Storing ELF tokens involves the use of compatible digital wallets. Wallets, essentially a kind of software, serve as a place where users can store their digital assets such as cryptocurrencies. They interact with various blockchains to enable users to send and receive digital currency and monitor their balance.
For ELF tokens, which are ERC-20 compatible, you can use wallets that support these types of tokens. Here are some examples:
1. MyEtherWallet (MEW): A free, client-side interface that interacts with the Ethereum blockchain. You can easily and securely create a wallet, and it allows you to control your private keys.
2. Ledger Wallet: As a hardware wallet, Ledger provides the highest level of security for your ELF tokens. Your tokens remain safe even when used on a compromised computer.
3. Trezor: Another hardware wallet, Trezor allows users to store their ELF tokens offline and signature of transactions can be done in the device itself, providing extra security.
4. Metamask: This is both a browser extension and a mobile wallet that allows you to interact directly with Ethereum-enabled applications, like decentralised exchanges.
5. Trust Wallet: A mobile wallet that allows users to send, receive, and store a wide range of cryptocurrencies, including ELF tokens.
Remember to always keep your private keys safe and secure, since they are the only way to access your tokens. Always double-check your transactions, as they cannot be reversed once they are confirmed.
As with any cryptocurrency, ELF may be suitable for individuals who have an understanding of the digital currency markets, the risks involved, and are comfortable with the volatility that these markets can display. Being aware of the technology underlying the product, the problems it seeks to solve, along with developments around regulation in the user's country, is also essential when considering such an investment.
Given the technological aspects specific to ELF, such as its multi-chain architecture and Delegated Proof-of-Stake (DPoS) consensus algorithm, prospective buyers should ideally have some understanding of these processes. This understanding ensures a more informed decision-making process.
Those buyers with a particular interest in blockchain scalability may be especially drawn to ELF due to its innovative approach to improving the speed and efficiency of transaction processing.
However, anyone considering investing in ELF or any cryptocurrency should keep the following advice in mind:
1. Research Extensively: Understanding the basics of blockchain and the specificities of the individual product is key. This includes the problem the product is solving, the technology it uses, the team behind it, and its roadmap for the future.
2. Investment Diversification: Cryptocurrencies should be only a part of an individual's investment portfolio. Diversification lowers risk and possibly enhances returns.
3. Market Analysis: Keeping track of market trends, news surrounding the cryptocurrency, and changes in regulations can help make informed decisions.
4. Evaluate Risk Tolerance: Cryptocurrencies exhibit high volatility. Prospective buyers should have a clear understanding of their risk tolerance and invest accordingly.
5. Consult Professionals: Consulting a financial advisor or investment professional can provide personalized advice suitable for individual needs.
ELF, or aelf, is a cryptocurrency that debuted in 2017 with an innovative approach towards solving the scalability issue in blockchain technology. The novel mechanism employs a cluster of chains, consisting of a mainchain and multitudes of side chains, improving transaction speed and processing power.
Despite its relatively recent entry into the market, its distinctive technological approach, combined with its Delegated Proof-of-Stake governance model, makes it a cryptocurrency of interest. Its model allows it to adapt and be customized to numerous use cases, potentially increasing its real-world applicability.
As to its prospects for appreciation, it is crucial to remember that cryptocurrency markets are highly volatile and unpredictable. While the technology and the approach of ELF are innovative and promising, this does not necessarily guarantee a profitable return on investment. Market dynamics, regulations, technology developments, and many other factors can influence the price of the coin.
As always, it's recommended that potential investors conduct thorough research, consult with financial professionals, and consider their own risk tolerance before investing. Like any investment, there is a risk of loss, and as such, an individual should never invest more than they can afford to lose.
Q: On which exchanges can one purchase ELF tokens?
A: ELF tokens can be bought and sold on numerous exchanges such as Binance, Huobi, OKEx, among others.
Q: In terms of storage, where can users securely keep their ELF tokens?
A: Users can safely store their ELF tokens in various wallets including Ledger and MyEtherWallet, among others that support ERC-20 tokens.
Q: What are some of the benefits and drawbacks of ELF tokens?
A: ELF offers advantages like diverse exchange support and compatibleness with several wallets, but it also has potential downsides such as market instability and limited historical data.
Q: How does ELF differ from other cryptocurrencies?
A: ELF's unique selling point is the use of a mainchain with multiple side-chains, providing improved scalability and transaction speed, and a Delegated Proof-of-Stake (DPoS) governance model.
Q: How does ELF's multiple chain structure work?
A: ELF operates by means of a single main chain which handles network load and bookkeeping, and various side-chains, each responsible for executing its own smart contracts and transactions.
Q: Can you provide the number of ELF tokens currently in circulation?
A: For real-time data regarding the circulating supply of ELF tokens, it'd be advisable to refer to trusted cryptocurrency market data platforms such as CoinMarketCap or CoinGecko.
Q: Which wallets can owners of ELF tokens use for storage?
A: ELF tokens, being ERC-20 compatible, can be stored in wallets like MyEtherWallet, Ledger Wallet, Trezor, MetaMask, and Trust Wallet, which all support ERC-20 tokens.
Q: What kind of individuals would find purchasing ELF suitable?
A: Buying ELF might be suitable for individuals comfortable with the inherent risk and volatility of cryptocurrency markets, possess understanding of the technology, and the problems ELF seeks to address.
Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.
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