Aelf is one of my favorite projects and follow the development, evolution and value fluctuations.
This decentralized cloud computing block-chain network which supports interaction with other block-chain systems, including BTC and ETH, looked innovative and beneficial to the crypto-ecosystem. The way AELF Project wants to leverage technology and the forward-looking perspective into progress made it look SciFi but reachable, something like colonizing Mars, more or less! Since the beginning, their main goal was to solve three major issues for block-chains: limited performance, lack of resource segregation and governance work frame, offering high efficiency and scalability to handle transactions/applications and high flexibility to customize smart contracts to meet different needs.
At the end of May, the Cross-Chain Transfer Protocol was launched, a standard solution for cross-chain transfers between block-chains, with operational specifications for cross-chain asset transfers. The Cross-Chain Transfer Protocol created the interface and framework for building decentralized services for cross-chain asset transfers, creating the tools for building decentralized services for cross-chain asset existence proof.
The Aelf Project developed the cross-chain transfer protocol based on its multi-level system, the main chain- side chains structure, to be easy to use, scalable and ultra secure. On top of the previous qualities, the protocol can support Dapps that demand the transfer of assets from different block-chains, functioning as the ideal solution for developers. From the cross-chain transfer protocol emerged two targets: to eliminate the issues created by low synergy resulted from the incompatibility of different blockchain protocols and to be the solution for low efficiency/high fees of cross-chain asset transfers.
How the Cross-Chain Transfer Protocol will help businesses and developers? Basically Aelf Cross-Chain will assist with cross-chain asset transfers between block-chain systems, cross-chain asset exchange between block-chain systems and will simplify the block-chains interaction. This is how Aelf created the premises for the block-chain network to evolve, and started before others in the marathon for achieving free flow of information and an unified crypto-world.
As the ultimate test, and a leap of faith, invited hackers to breach the CCTP, and offered a reward. The campaign was a success, as no hackers succeeded to break the Cross-Chain Transfer Protocol, promoting even better the advanced security level, somewhere above bullet-proof and anti-nuclear bunker. Showing exponential growth and a hacker-proof system, made Aelf gain a massive level of trust from crypto-enthusiasts. Therefore, the Aelf Project can achieve global use, if they can offer low fees versatility and probably the Aelf Cross-Chain Transfer Protocol is the missing link towards unlocking the block-chain's true potential and the move in a new digital era.
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