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aelf (ELF): Scalability Solutions and Azeroth Rewarding Program

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Although Aelf (ELF) is on large trading platforms such as Bitfinex and Binance, this digital coin had its glory stolen by other popular cryptocurrencies stealing its spotlight the most of 2017. But, with the arrival of a new year, there came new solutions, and that is when we heard about ELF again. But, as ELF has new solutions upcoming as well, in the form of a private sale organized to sell as much of this token as possible, we are witnessing a change in trending on behalf of this digital coin.

What is ELF?

To keep up with this digital token, we first need to explain what ELF exactly is and which idea it represents. ELF or Aelf is a digital coin launched and created to serve a decentralized platform which would allow utilization of Blockchain in the physical world of business. That means that developers behind this token have the idea of increasing scalability within blockchain technology so that the current model of business doing could be modified and improved.

To solve the problem of scalability within blockchain technology, the developers have concluded that the best option for reaching their goal would be to create a blockchain ecosystem that would be decentralized but working in a similar way operative systems like Linux do.

That is how ELF token is planning on running its platform, Aelf, based on nodes that would be organized in clusters. To put this simply, Aelf would be running on nodes that would allow transactions within different groups.

So, while there would be transactions being processed in one group, other groups would be able to simultaneously perform different transactions within their network, but unrelated to other groups. The idea behind this type of system is to ensure that the groups for transactions are organized by similar “interests.” That means that different businesses would be organized in different groups, that way creating a well-organized ecosystem that would enable easy business doing and turn-key solutions.

So, Aelf has the main goal to become a blockchain decentralized platform that would meet business and mainstream institution needs with each smart contract running on its own network in the form of nodes, which would at the same time solve the scalability issue most platforms have.

The Goal and the Aelf Team

The goal of this project is to revolutionize the way people are doing business today, but at the same time, creators of this platform are looking into efficiency and security problems that have to be solved. In that spirit, each smart contract and each transaction group will run on separate chains, that way posing a new business model and revolutionizing several mainstream markets.

The idea is to accept any type of business and create a versatile community that will be able to obtain a self-sufficient status. Think about it as a reality within a reality where virtual world is actually connected to the physical world. The result would be simplified business ventures, safe and fast transactions and low fees. The ecosystem supported by this token should take on the announced novelties pretty soon, potentially creating an incentive business ecosystem that would be ready for several business types, models, and scenarios with a turn-key solution.

To make this project more desirable and boost ELF sales, the team has organized a private sale where they managed to collect 55.000 ETH on behalf of ELF token, that way boosting the price of this coin along the way. Another project with the idea of promoting ELF was recently launched when the team behind this coin invited people to join a project called Azeroth. The launched project is supposed to reward anyone who applies and registers with free ELF tokens in a way known only to the registered parties that are participating in this project.

All these projects, including the private sale, probably represent a way of making this no longer forgotten coin, well remembered and running across mainstream waters. It seems that this strategy is working pretty well as ELF is experiencing increases in price, leading from the original major increase in 2018 that happened on January 18th when a whole lot of different tokens were actually suffering from major decreases. And, on January 26th, ELF had another jump marked at 21% of increased price thanks to the launching of Azeroth, a free rewarding program.

Look for the team behind ELF to have all the announced changes implemented into a functional community. Once implemented, the price will most certainly rise.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of coinmarketcap.com

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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