Aelf is one of the best performing cryptocurrencies during the daily timeframe. The token accumulated gains of more than 40% during the past twenty-four hours – making it to the leading tokens of the day. The cryptocurrency has been on a steady downtrend since August; however, the current trajectory indicates that the downtrend may soon be broken. At the time of writing, the cryptocurrency stands at a price level of $0.50. The weekly performance also shows an increase of nearly 40%. The daily trading volume for ELF token has surged upwards by around 3,000%. The price is being pumped by community members as some are indicating towards the possibility of a price level of $1.
Metaverse hackathon
Aelf inaugurated its metaverse-themed hackathon during the beginning of December. This is the first of the platform’s metaverse-themed hackathons called Top of Oasis. The hackathon is set to last from 12th December to 9th February, 2022 while the winners will be announced around 15th of February. It will provide support to early-stage projects and ideas from the community as well as other sources. Th categories are GameFi, DeFi, NFT, Dao and Web 3.0 and attractive prizes are being offered.
The hackathon is aimed at expanding the developer pool of the ecosystem. By onboarding innovative and creative ideas and projects, Aelf will increase the diversity and scope of its ecosystem. Up till now, the platform has received 60 contacts from throughout the world and the judges panel consists of big names in the industry from leading institutions like Microsoft, Tencent etc.
What is Aelf?
Aelf is a multi-chain and multi-layer protocol that bears resemblance to Ethereum’s blockchain. However, the architecture of the platform is designed to replicate that of an operating system like Linux to ensure ease of use and decreased complexities. The platform is designed to have one main chain along with other parallel chains that offers distinct and unique features. The architecture of the platform is aimed at enabling the decentralized applications’ development. It ensures that developers can create dApp with ease through its technology.
Aelf is also referred to as the next-generation of Ethereum as it is essentially serving the same purpose of dApp development but in its own unique and innovative manner. The platform has also launched an enterprise-grade blockchain solution geared at speeding up its adoption by including large enterprises as well.
