aelf has announced that their mainnet launch is now live. Users can download the latest version of aelf Enterprise 1.0.0.
The launch of the aelf mainnet is the result of several years of hard work. The developers note that the platform is designed to be a high-performance, decentralized, scalable cloud computing platform. The developers proclaim that aelf has an innovative cross-chain collaboration mechanism, unlimited scalability, and an elegant multi-level main-chain side-chain system. The result? Users are provided with a reliable large-scale commercial blockchain infrastructure that is both user-friendly and of high-performance.
📢We're excited for hitting the biggest milestone so far. D-0 day
💐aelf Mainnet 1.0 has come to town! Happy #MainnetThursday!
❓Want to know more about the details & next plans of the aelf mainnet?
Check out the following article please! 👇 https://t.co/TIPCqGGXKg
— ælf (@aelfblockchain) December 10, 2020
The Journey Towards the aelf Mainnet Launch
The aelf testnet was launched on the 30th of June, 2018. From that time till present, it has been running for over two years, and the operations have been smooth. During these two years, several initiatives by aelf have been hosted. The aim of these initiatives was to encourage user participation in product testing. From the product testing process, participating users were able to share opinions and suggestions concerning the development of the platform.
During the last two years, the development team has worked ceaselessly to enrich and improve the technology. Some of the final steps towards the launch of the aelf mainnet was the successful conclusion of the aelf Public Testnet Code Audit Bounty Program and the release of Enterprise 1.0.0 RC 1.
Mainnet Launch Phases
Overall, there are five distinct phases to the aelf mainnet launch. While the phases are being completed, the development team will continue working on building the platform’s dApp ecosystem and improving mainnet features.
The five phases of the platform’s mainnet launch are:
Phase 1 covers the monitoring of mainnet security. During the mainnet launch, the main-chain and the side-chain will be launched step-by-step. The multi-chain structure of the mainnet will begin running, and the platform will ask more exchanges to access the mainnet in preparation for the token swap in Phase 2.
Phase 2 includes the mainnet token swap where the mainnet token will be unlocked. In this phase, the token transfer feature will also be enabled.
Phase 3 presents the node selection where a mainnet node election campaign will be hosted. In addition, a number of dApps will be launched.
Phase 4 will feature elected parties replacing all nodes. The aelf Management DAO Committee will be elected, and a dApp development contest will be held. These actions are designed to promote the stable and orderly running of the mainnet.
Phase 5 is the mainnet stabilization which will achieve the auto-governance of the aelf ecosystem.
The Genesis Block of the aelf mainnet will release 880 million ELF tokens (representing 88% of the total supply) to be used in the token swap. The remaining 12% (120 million) will be used for mining rewards. The tokens will be held by the first BP for the first week of the mainnet’s launch. The five Genesis Nodes can begin collecting their earnings in week 2, and the 88% token amount will be sent to the default parliamentary organization address. The Genesis Node will launch the swapping contract and side-chain creation in week 3. ELF needed for the first swap will be provided by the parliamentary organization. The DAO committee will determine the ownership of any remaining ELF held by the parliamentary organization in Phase 4.
ELF is currently trading at $0.124160, with a market cap of $57,389,449 and a 24-hour trading volume of $17,610,892.
For more cryptocurrency news, visit the Altcoin Buzz YouTube channel.
