Aelf, currently ranked as the 66th currency in the official ranking list is presented as a decentralized blockchain-based cloud computing platform, designed to allow the commercial adoption of blockchain technology.
The project is using Delegated Proof of Stake consensus mechanism while aiming at resolving scalability issues that often pose as a major problem to blockchain-based ecosystems in general, and as of the recent case of events, ELF has gotten even faster.
Ever since the team released the official test net back in July, they have been working on improving the network in order to maximize the positive experience on the network, that way enabling the test net to process nearly 15,000 transactions in a single second, making ELF a more desirable asset due to its scalability.
Aelf Published the Test Net Results: Nearly 15,000 TPS Achieved
Aelf was launched as a blockchain-based ecosystem set to create a massive cloud computing decentralized ecosystem. As such project, ELF makes up for one of the most scalable projects, still working on improvements that could initiate the adoption of blockchain technology.
In one of the most recent announcements published by the team on Medium, already a month ago, the team behind Aelf stated that the test net results are showing improved performance with ELF.
This is the case because Aelf test net is now able to process 14,968 transactions per single second, making the network faster and more attractive, also advocating for scalability.
The test net version 1.0 was launched back in July and since then, the ELF team has been working on further improvements which includes optimizing the network, improving transaction pool, network and consensus modules, as well as working on increasing the level of scalability while removing the cluster.
The team further added in their official announcement that they have been mostly focused on the overall performance of parallel processing, which led to having the initial test able to process nearly 15,000 transactions per second.
With the increased number of processed transactions in the given time frame, Aelf ha declared that this improvement is the first step towards commercializing blockchain technology, making it a massive success for the startup.
The co-founder of Aelf, Zhuling Chen, added that this is only the beginning, addressing the community by inviting them to imagine what Aelf project will achieve in the course of the next year.
The initial test net results are not official as there are many things to be done prior to the releasing of the announced mainnet.
Aelf project has scheduled the mainnet released for ELF in the first quarter of the next year, while they will use the last quarter of the current year to finish all preparations for releasing their own network where ELF will become the native token.
In the end, the team added that they will be updating the public on further developments and improvements, stating that the test net has proven parallel processing algorithm as efficient in the terms of resolving network cluster and proposing scalability to the decentralized environment.
Aelf Planning to Support Large-Scale Commercial Use
Aelf seems to be planning a breakthrough in the upcoming year of 2019 as they are still working on improvements set to be revealed with the launching of the mainnet in the first quarter of 2019.
The team is aiming at adding new updates while sharing their progress with the community as they will be working on further developments regarding the scalability of the network.
With the upcoming mainnet release, Aelf is getting ready for commercial use, preparing the support with performing technical improvements to the network, and with further plans to make the network even more scalable, thus creating a faster ecosystem as well.
Aelf in the Market
Even though the general mood in the market is rather sluggish with the majority of tokens and coins dropping against the dollar, on September 7th ELF is seen going up by over 3% in the last 24 hour.
This increase might as well be the result of the successful test net that enabled nearly 15,000 transactions, which brought Aelf to trading at the price of 0.37$ while back in May the crypto made it to its all-time high of around 2$ per one unit.
ELF has a decent potential of getting back to its record price with the launching of the mainnet, however, in order to achieve the planned commercialized use of blockchain Aelf, the team will probably need to become proactive in collecting more partnerships and/or projects that can bring ELF to more real-life use cases.