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Author Topic: AELF BLOCKCHAIN ($ELF) | Aelf Will Launch Mainnet on 10th December  (Read 34842 times)

Offline KursatAelf

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Re: AELF BLOCKCHAIN ($ELF)
« Reply #105 on: August 07, 2020, 10:02:07 PM »
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Re: AELF BLOCKCHAIN ($ELF)
« Reply #105 on: August 07, 2020, 10:02:07 PM »

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Re: AELF BLOCKCHAIN ($ELF)
« Reply #106 on: August 10, 2020, 10:53:42 PM »

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Re: AELF BLOCKCHAIN ($ELF)
« Reply #107 on: August 11, 2020, 09:12:54 PM »
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Re: AELF BLOCKCHAIN ($ELF)
« Reply #108 on: August 12, 2020, 12:15:12 PM »
A Beginner’s Guide to Understanding the aelf WhitePaper (Part 1)



What is a blockchain?

In the Bingo game DApp demo, we’ve already talked about the aelf real random number generator, which can generate unpredictable random numbers between 0 and 255, making it a useful tool. The interaction logic of this DApp’s backend is very much the same as that of blockchain smart contract. But this DApp is so simple that it doesn’t really show what aelf is capable of. In fact, aelf’s got an awful lot more in its arsenal. When it comes to supporting enterprise-level applications, this is where aelf comes in. For someone who is new to aelf, the best way to aquaint yourself with aelf’s technology is to read the aelf technical whitepaper.

If you have read the whitepaper of some blockchain projects, you might find them difficult to understand or even make no sense. As a result, readers (not speculators) are often at a loss as to what these projects are trying to do. Unfortunately, many projects often assume their readers are all experts and can understand the whitepapers with no difficulty. In reality, most blockchain projects are much more complex than Bitcoin. Therefore, if readers only know how Bitcoin works, they still cannot understand these projects’ whitepapers. If you want to draw potential developers to your platform, it is necessary to provide a beginner’s guide to understanding your whitepaper.

That’s why we have prepared this guide. But before reading this guide, you can quickly go through our website, read our slogan, watch the promo video on the homepage, download the whitepaper and before long, you may find something you cannot understand. Don’t worry, let’s start with aelf’s slogan:
Aelf, a Decentralized Cloud Computing Blockchain Network

Cloud computing is the most fundamental feature driving the entire aelf blockchain ecosystem. Running data intensive computation on multiple computers is obviously more cost-effective than on one mainframe computer. Suppose these computers are assembled in a huge building called data center, say thousands of computers, with professional maintenance by a company, say, Amazon, then these data centers are called a cloud, such as Amazon Web Services (AWS).

Having said that, it is still hard for a beginner to understand why cloud computing gives aelf an indispensable edge. This is because most people, including some in the blockchain sector, don’t have a sound knowledge of some of blockchain’s key concepts. As a result, it is difficult for them to move on to the more complex technology, let alone analyze the pros and cons of a blockchain project and its potentials. As far as I know, I think it is necessary to set the record straight on two important blockchain concepts.
What is a blockchain?

This is nonsense! We all know blockchain is a tamper-proof distributed ledger or database technology, as any professional would explain to you. You most probably have memorized this definition by heart and would rattle it off whenever someone asks you what blockchain is. The truth is, this definition is very misleading. Blockchain is not a new invention, nor does it have any magical features (for example: the magical tamper-proof feature). In this sense, it is different from the magical stuff in an alchemist’s furnace. Instead of viewing blockchain as a ledger or database, it is better to see it as a distributed system. So what is a distributed system?

A distributed system is a large number of interconnected computers, which makes it a peer-to-peer system. It was invented around 1960, long before the advent of Internet. There are already a lot of well-known distributed-system-based softwares, such as Bit-torrent and Netflix. In these softwares, people can upload the files on their computers to the P2P network and anyone can download them. But a distributed system can do much more. In the distributed system discipline, people have to solve a big problem, that is, everyone (every node) in the P2P network need to make an unanimous decision no matter what information they receive, and this unanimous decision is what we call a consensus, and this problem is called the Byzantine General Problem.

Say there are three Byzantine generals wanting to attack the same fortress, and they are at three different locations, they could only rely on couriers to send messages. In this situation, any general can only make a decision based on the other two generals’ messages. If one general wants to attack, he let couriers send the “attack” message to the other two generals, so do the other two generals. If the generals are all loyal, each of them should receive “attack, attack” coming from other two generals, and all three generals would attack the fortress. But if one of them is a traitor, he could send one general “attack” and send the other “retreat”, this other general will receive “attack, retreat”, if he follows majority rule, he will not make a decision because the votes on attack and retreat are the same. At the same time, the other general will attack, and the result is that these three generals will not reach a consensus on attack.

The generals are just like the nodes of a distributed system (i.e. blockchain). There are at least two points worth noting: first, all massages (transactions), have to be sent to the other generals (nodes) to keep them informed; second, all the nodes have to reach a consensus.

The first point means that it takes time for sending a message to all the nodes in a huge network, the second means that after a new block has been broadcast to the entire network, there should be a mechanism for all the nodes to agree on this block (a package of messages or logs), and it also takes time.
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Re: AELF BLOCKCHAIN ($ELF)
« Reply #109 on: August 12, 2020, 10:26:28 PM »
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Re: AELF BLOCKCHAIN ($ELF)
« Reply #110 on: August 13, 2020, 09:12:24 PM »
A Beginner’s Guide to Understanding the aelf WhitePaper (Part 2)



If you have read the whitepaper of some blockchain projects, you might find them difficult to understand or even make no sense. As a result, readers (not speculators) are often at a loss as to what these projects are trying to do. Unfortunately, many projects often assume their readers are all experts and can understand the whitepapers with no difficulty. In reality, most blockchain projects are much more complex than Bitcoin. Therefore, if readers only know how Bitcoin works, they still cannot understand these projects’ whitepapers. If you want to draw potential developers to your platform, it is necessary to provide a beginner’s guide to understanding your whitepaper.

Yesterday we talked about what is the blockchain, today we would like to introduce the smart contract.

What is a smart contract?

The definition of smart contract in many books, articles and videos is very misleading from a developer’s point of view. They often explain that smart contract is a new generation of legal contract, deed, or proof of ownership, etc., and since they is code-based, smart contracts are highly intelligent. But this definition is only for those working in finance or other sectors who do not know computer science and coding. They need only to know that smart contract is very powerful, and that’s enough (in some sense, this is all very well). But what is smart contract exactly?

In fact, smart contract is neither smart nor is it a contract, it is just a string of code. So why do people call it smart contract rather than a more intuitive name? That’s because it has been called smart contract all along, and programmers are too lazy to change the name. Smart contracts, like Python or Java codes, are written in a high-level language, and compiled into bytecode to be run as opcode on a virtual machine. You might already know things like JVM and Python-VM, or EVM on the Ethereum blockchain. For the aelf project, smart contracts are written in C#, and they are run on the .NET framework after being compiled.

Calling the execution of a smart contract is in some sense similar to making an http request: In a traditional requesting process, you type in a URL to tell the remote server to send you back some data (html, css, javascripts, etc.), or tell the server to execute some server-side programs which could be written in Java to change some states of the server. The same is true for smart contracts. Just like a request, we send a transaction to the target contract address, whether it costs cryptocurrency or not. When the contract receives the calling request from the transaction, it will execute some specific functions in the smart contract code, depending on the parameters in your transaction. If there is enough gas, the executing result will change this smart contract’s state, send you the data of the result, or send you cryptocurrency.

However, in comparison to the instant response from a remote server after an http request, the execution of a smart contract will take some time after you send a transaction. As I have mentioned in the Bingo game article, when you send a transaction, the transaction will be broadcast to as many nodes as possible, and every mining node will include it into its candidate block. After a while, when one mining node produces a new block, it will broadcast this block to other nodes, of course, this block is confirmed. This process will take some time, and for most real applications only producing one new block cannot guarantee the safety and validity of the transaction, so more blocks should be concatenated consecutively after this block. On the aelf blockchain, at least 8 new blocks should be generated after the production of the block containing the transaction. Of course, if one block containing this transaction is finally packaged by a mining node, when satisfying a certain consensus condition, the target smart contract is then executed on a full node (full node can be a mining node, or vice versa). But with more and more blocks being generated after this block, it will be virtually impossible to tamper with the execution result of this smart contract by forking to another chain.

In the Bingo game example, the “bet” button is such a method in our smart contract. When we place a bet, a transaction is sent to the contract. After one block is packaged, the method is executed and thus the contract will know how much you want to bet. In order to let the contract know your bet amount and to avoid anyone tampering with your bet amount, you have to wait until 8 subsequent new blocks are produced. So how long does it take? As is shown in the last article or in the demo video, it takes about 30 seconds. In fact, no one knows exactly how long does it take to generate 8 blocks, but we know that after 30s more than 8 blocks must have been already produced.

Having explained these two basic concepts, it is much easier to understand any blockchain projects, including aelf. No matter how sophisticated the technologies a blockchain project applies, they will all be based on these two concepts.

In the next article, we will dive into the aelf blockchain whitepaper to demystify all the important features of this enterprise-level project! To be continued.
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Re: AELF BLOCKCHAIN ($ELF)
« Reply #111 on: August 14, 2020, 04:27:01 PM »
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Re: AELF BLOCKCHAIN ($ELF)
« Reply #111 on: August 14, 2020, 04:27:01 PM »


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Re: AELF BLOCKCHAIN ($ELF)
« Reply #112 on: August 17, 2020, 03:58:34 PM »
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Re: AELF BLOCKCHAIN ($ELF)
« Reply #113 on: August 18, 2020, 11:04:46 AM »
The launch of BancorV2 has generated lots of buzz in the last few days.

aelf Resource Token is based on Bancor, which ensures the instant exchange between resource token and ELF.

In the future, aelf will also launch its own DEX and build a decentralized lending platform.

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Re: AELF BLOCKCHAIN ($ELF)
« Reply #114 on: August 18, 2020, 09:32:56 PM »
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Re: AELF BLOCKCHAIN ($ELF)
« Reply #115 on: August 19, 2020, 04:58:47 PM »
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Re: AELF BLOCKCHAIN ($ELF)
« Reply #116 on: August 20, 2020, 12:23:30 PM »
A breakdown of the aelf blockchain whitepaper — Part 1



Why cloud computing is a must

We have already mentioned that cloud computing is a key feature. For Bingo Game, the aelf team only deployed 2 simple smart contracts (compile a C# file into intermediate code and upload it onto the aelf blockchain by creating a transaction with a special contract). Anyone can compile C# contracts and deploy them on the blockchain so that other people can invoke the contract to do whatever they want, say, developing a DApp. If only a few people are using the aelf blockchain, then it does not really matter. However, for any enterprise-level scenarios, this blockchain architecture is a recipe for disaster, just think of the torrent of data flowing in a supply chain. Under such circumstances, the number of deployed contracts will be in the MILLIONS, and if they are invoked by a lot of people, the transactions and contract code executions can easily soar to BILLIONS! As mentioned, a full node or mining node (also “block producer”) executes contract opcode under the dotnet framework, if we give millions of contracts for this node to execute, it will take so long a time that no application can handle. Try to imagine if there are 2,500,000 contracts queuing up to be executed by a single computer before your contract is executed, it would be so frustrating! For a common blockchain, this is called “network congestion”.
It is therefore easy to see why a cloud computing solution comes in handy. Instead of using a run-of-the-mill computer as a full node, why not use a super-computer?

Why not run in parallel?

In addition to cloud computing, nodes can also run smart contract code in parallel on the aelf blockchain. Before aelf, smart contracts on all blockchains are executed in a single-threaded way, like the event loop of the Javascript engine. But the aelf team, excelling at C#, found that the C# infrastructure can support parallel execution, so they applied this feature to the design of the aelf blockchain architecture. Combined with some designing patterns, the aelf team finally designed this mechanism, ushering in a new era of blockchain nodes with parallel execution.

For example, suppose there are 1,000 tasks to be executed (transactions or contracts), the aelf system will first check if these tasks change the same value simultaneously, if they do, then they will be executed in sequence because we don’t want these tasks to conflict with one another during parallel execution. If they don’t, then these non-conflicting tasks can be executed in parallel where they are divided into several groups according to whether they conflict with each other. So the result will be, say, 4 groups: [200 tasks, 300 tasks, 250 tasks, 250 tasks], and the overall execution speed will roughly be 4 times faster.

Just like Marvel superheroes assembled together to fight Thanos, aelf combined cloud computing and parallel processing to make sure any enterprise-level use cases have a seamless experience. Now let’s dive deeper into the technical stuff..

Delegated Proof of Stake (DPoS) and aelf Delegated Proof of Stake (AEDPoS)

As mentioned in “What is a blockchain” in the last article, in a distributed system, it always takes time for a transaction or a block to be broadcast to every node when there is a large number of nodes involved. We know that in the Bitcoin system, only mining nodes are responsible for producing new blocks, so why not reduce the number of mining nodes as much as possible? As a result, the Delegate Proof of Stake(DPoS) consensus mechanism came along. Proof of Stake is a variety of consensus algorithms that use something (for example, the token amount) as stake to package new blocks, the higher the stake, the likelier this new block will be confirmed. In DPoS, there aren’t so many mining nodes (strictly speaking, there is no mining concept in PoS, rather, they are called validating nodes), because we simply delegate a very few validation nodes to produce blocks and broadcast them to other delegated nodes. Clearly, DPoS solved the problem of long broadcast time in the blockchain distributed system. However, since there are only a few validating nodes at play, how can we prevent these nodes from plotting with each other to manipulate the whole chain and undermine the decentralized principle? That’s why all types of DPoS have a strict voting mechanism to ensure these elected delegates act fairly and transparently.

In fact, DPoS stems from the EOS blockchain project. In DPoS’s design, there are at least three types of nodes: block producer (BP, or less strictly, mining node), candidate node and common node. The candidate node is a block producer (BP) candidate who applies for the role via a smart contract. Theoretically, any common node with sufficient computing power (in aelf, we recommend a computer with at least a 8-core CPU, 8GB of RAM and 500GB SSD) can be a candidate node. In practice, only a small fraction of them can be real BP through voting by other common nodes. On the financial side, a typical blockchain project which chose DPoS as its consensus mechanism always rewards nodes with some tokens if they vote for candidates, thus encouraging participation. The voting mechanism is essentially a smart contract with voting methods that request voting node’s address, who it votes for and how many tokens they want to stake (the higher the stake, the greater the vote weight). In aelf, we don’t know how many common nodes can become candidate nodes, but only the 17 candidate nodes with the most votes can become a BP.

With some special techniques, aelf has upgraded DPoS to the unique AEDPoS (aelf DPoS). The creators have drafted a specific suite of round-based block production mechanism. If you look this up in the whitepaper you’ll see lots of mathematical expressions, but don’t worry, the core concept behind it is quite simple and straightforward.

Before explaining, let me remind you of two things: First, the real random number generation method (we’ll talk about this in details in the next articles). This method can not only generate a random number, but also shuffle a collection (say, a list), which makes the process impossible to be predicted, manipulated and plotted. Second, the Byzantine General Problem. Let’s have a quick recap of this problem: formally proposed by Lamport et. al in 1982, the Byzantine General Problem imagines a three-generals scenario, as was mentioned in the last article, if anyone of the three is a traitor who wants to alter the message, it is impossible for the three of them (the whole system) to reach consensus. Based on this observation, Lamport deduced that in the case of 3n nodes (n is a countable number) in the system, if there are at least n nodes who are traitors, the whole system can never reach a consensus. So in many other articles, you can always see the following statement:

If there are f evil nodes, there should be at least 3f+1 nodes for the distributed system to be useful.

In aelf’s DPoS, if the aelf main/test net is launched, the default setting is 2N+1 BPs, in the first year N=8, and N increases by 1 every year. There are 17 BPs at the very beginning. If 13 (no more than 5 BPs corrupt the network) of them behave normally, all the BPs will finally reach a consensus. Under this condition, aelf defines a round in which every BP packages blocks sequentially, and after that, aelf randomly picks a BP to package blocks. After this round, we shuffle the BP list, and repeat this process. The key is that the block production sequence is random enough to prevent BPs from plotting with each other. Of course, there are other designs involved, but we don’t need to know them to understand how AEDPoS works.

Like common DPoS, the BP list is always changing based on their votes. A common node can vote for BPs and candidates at any time (the aelf blockchain now supports this feature), and the aelf system will check the ranking every month, those who are at the bottom will be replaced by candidate nodes with higher rankings.
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Re: AELF BLOCKCHAIN ($ELF)
« Reply #117 on: August 20, 2020, 04:37:51 PM »
📢🔥 ATTENTION, please!

aelf Wallet is now available on Android and iOS!

Click the link 🔗 to download and try it out!

Android: http://d.alphaqr.com/aelfwalletandroid

 IOS: https://testflight.apple.com/join/TclFysmO




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Re: AELF BLOCKCHAIN ($ELF)
« Reply #118 on: August 21, 2020, 03:31:16 PM »
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Re: AELF BLOCKCHAIN ($ELF)
« Reply #119 on: August 22, 2020, 04:25:17 PM »
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