The information about aelf (ELF) is compiled from various websites and posts on X. ELF is the native token of the aelf blockchain, initially launched as an ERC-20 token on the Ethereum blockchain in December 2017. The project, founded by Ma Haobo, aims to create a highly efficient, scalable, and customizable blockchain operating system, often likened to the "Linux of blockchains." Unlike many other tokens, aelf did not conduct an initial coin offering (ICO) but instead secured funding through private investors, raising approximately $24.75 million from firms like Draper Dragon, Blockchain Ventures, and FBG Capital. The total supply of ELF is capped at 1 billion tokens, with the token designed to facilitate a decentralized cloud computing network tailored for commercial and enterprise use cases.

The aelf ecosystem is structured with a main chain and multiple side chains, enabling resource isolation and parallel processing to enhance scalability and efficiency. ELF was originally an ERC-20 token, meaning it adhered to Ethereum’s token standard, allowing it to be stored in compatible wallets like MyEtherWallet or Ledger Nano S during its early phase. In 2020, aelf launched its mainnet, transitioning ELF from Ethereum to its native blockchain. A token swap, initiated in September 2021, allowed holders to exchange their ERC-20 ELF tokens for native mainnet ELF tokens at a 1:1 ratio, fully integrating them into the aelf ecosystem. This shift enabled ELF to leverage aelf’s custom infrastructure, which includes a Delegated Proof-of-Stake (DPoS) consensus mechanism, where token holders vote for mining nodes to secure the network.

Within the aelf ecosystem, ELF serves multiple utility functions. It is used to pay transaction fees and side-chain indexing fees, ensuring smooth operations across the network. Developers utilize ELF to deploy smart contracts and decentralized applications (DApps) on individual side chains, which can be customized for specific use cases like asset exchanges or digital contracts. ELF also plays a governance role, allowing holders to participate in node elections—each token equates to one vote—and stake tokens to become production nodes, which requires locking ELF as a deposit. Additionally, the token supports cross-chain interoperability, connecting with external blockchains like Bitcoin and Ethereum via messaging, and has been bridged to other networks such as Binance Smart Chain.

The aelf project emphasizes a modular, AI-enhanced architecture, integrating technologies like zero-knowledge rollups and a versatile oracle for secure data retrieval across chains. Posts on X describe aelf as a high-performance, cloud-native platform focused on Web3 innovation, with features like side-chain technology and seamless smart contract execution. The ecosystem supports a range of applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), and identity platforms, with ELF acting as the economic backbone. A notable event in its roadmap, highlighted in X posts, is the first halving scheduled for December 12, 2024, at block height 246,500,000, reducing block rewards from 0.125 ELF to 0.0625 ELF per block, a mechanism designed to adjust token issuance over time. The project’s development is supported by a team with expertise in blockchain and data systems, including co-founders Chen Zhuling and Rong Peng, alongside advisors like Michael Arrington of TechCrunch fame.