AMA with @Aelf

Before we get started, can you tell us a little about who you are and what you do for aelf:

“Hi, my name is Qi Ai; I am PR specialist of aelf; I have been dedicating myself to the crypto industry for five years. I have seen a lot of projects being up and down, aelf was attracting me the most.”

1. When did you first get involved in cryptocurrency/ what the first cryptocurrency you invested in was?

The first cryptocurrency I invested in was bitcoin. I remember that was in 2016 when I was in Miami.

Shift Movement Digital: That is a great time to get involved in crypto. Great price for Bitcoin back then.

2. What is aelf?

​​aelf is the world-leading blockchain ecosystem. aelf innovated on its multi-sidechain systematic structure and its cross-chain collaboration mechanism, enabling the unlimited scalability to solve today’s most pressing issues and promote the future digital economy. Founded in 2017, aelf is headquartered in Singapore and provides the most user-friendly open resource blockchain infrastructure for users and developers worldwide.

Shift Movement Digital: Great place for HQ. I love that you all are multi-sidechain and cross-chain.

3. When was aelf created, and how did the concept come about?

Its cryptocurrency is denoted by the symbol ELF, which was launched on Dec. 21st, 2017.

4. Why is aelf needed?

The crypto industry is facing two problems — low performance and the under-developed cross-chain function. aelf has developed a series of products, offering a one-stop blockchain solution. In the meantime, aelf will help bridge the isolated ecosystems struggling to overcome the interchain problem.

Shift Movement Digital: Thank you so much. I love the problem you are working to fix. I think this will continue to gain awareness.

5. What is the use case for aelf token?

The ELF token is used in voting for governance, staking, delegating, and gas fee for simple token transactions and smart-contract executions.

On the one hand, ELF mainnet token will be applicable to aelf mainnet soon. Specifically, mainnet token holders can:

a. Use ELF as currency within the aelf ecology for transaction fees, sidechain index fees, deposits, block rewards, and many more

b. Hold ELF as delegated consensus equity share representative of the aelf mainnet

c. Participate in the facilitation and management of aelf mainnet

On the other hand, ELF has been held and traded as an ERC-20 compatible token issued on Ethereum since the project was established in 2017. We also encourage our users to participate in the Ethereum buttressed ecology with ERC-20 ELF tokens.

Shift Movement digital: Wow, thank you for that. There is a lot of promise to aelf moving forward.

6. Who are the primary beneficiaries of aelf

aelf built a fully-functional blockchain infrastructure to support the booming field while connecting with existing ecosystems such as Bitcoin and Ethereum as it is designed to break the industrial bottlenecks, including performance and the interchain function. In this way, we are not trying to compete with anyone else. Instead, we bridge the isolated projects and empower the whole industry with our outstanding performance and our enticing service charge. Thus, we are favoring everyone within the crypto field.

Shift Movement Digital: Exactly what we like to hear. We are glad you are working to bridge projects.

7. How will you disrupt traditional systems?

We won’t. Rather than other projects dedicated to attracting and keeping more users, Aelf encourages users’ circulation on different projects. We’ve made joints with all the other ecologies for the convenience of our users.

Shift Movement Digital: That makes sense. Thank you for explaining that to me.

8. Who are the founders of aelf?

The founder of aelf is Haobo Ma, an early adopter of digital assets, Ex-CTO of GemPay. Executive member

Of the IEEEC/BDL(IEEE Computer Society Blockchain and Distributed Ledger Standards Committee),

Commissioner of Chinese Institute of Electronics and China Computer Federation.

Shift Movement digital: You love to see a strong team behind a project. A lot of experience right here.

10. How many cryptocurrencies is your aelf wallet compatible with?

There are more than 1000 cryptocurrencies that aelf wallet is compatible with. Moreover, aelf wallet is also easy to use, secured, and smooth, providing an excellent user experience.

Shift Movement Digital: Excellent! People are always looking for good wallet options.

11. What is a DAO?

Decentralized Anonymous Organization. This blockchain technology is innovated to solve the long criticized credit issues by embracing full transparency. We are very confident and proud of our technology. So, we set our management committee anonymously as we believe the open-source code could represent who we are.

12. What are Nodes? Can you explain the Node and incentive model?

Nodes provide standard services on clusters. Nodes are responsible for the mainnet function from two major perspectives — execution and governance. The nodes are elected by aelf community members, following the aelf DAO management model.

Each node on aelf mainnet is a cloud computing center that is of outstanding performance and unlimited scalability.

And all the elected nodes constitute the aelf cloud computing network underlays aelf mainnet, which is safe, stable, and reliable.

Shift Movement Digital: Thank you. There are a lot of people out there that wonder what DAO and Nodes mean. Thank you for the breakdown. Love the management model

13. Can you take a minute to explain the flexible governance model?

Aelf has four different governance models: Parliament, Association, Referendum and Customized

14. What does the roadmap for the remainder of this year and into next year look like for aelf?

aelf is to launch its mainnet token swap this August. The mainnet token swap is the initial event to spark the activation of aelf mainnet. Once swapped to ELF mainnet token, ELF holders will be able to dive into the aelf ecosystem. And we will hold the consequent events to cooperate with the mainnet launch progress, including sidechain auction, node election, and many more.

Shift Movement Digital: Excellent. We wish you all the best with the mainnet tokenswap. We will be paying attention.

16. What is aelf next plan?

aelf will start its mainnet swap on a random day between Sep. 1st and Sep. 15th, 2021. By then, ELF holders will be able to replace their ERC-20 compatible ELF tokens with the ELF mainnet tokens.

Aelf mainnet token launch represents the aelf ecosystem stepped into a new chapter.

Shift Movement Digital: This is amazing to hear. We wish you all the best with the mainnet. Thank you for taking the time to stop by and talk to us. Shift Movement will continue to support aelf.