Elf to Release eBridge on December 27th

elf has launched eBridge, a cross-chain bridge that connects aelf to Ethereum and BSC. This decentralized application (DApp) facilitates cross-chain transfers of various cryptocurrencies including ELF, ETH, BNB, USDC, USDT, and DAI. It serves as a bridge for Web3 and defi users to seamlessly interact with the aelf ecosystem.

Refer to the official tweet by ELF:

ELF Info

Aelf is an one-stop solution for Web3 DApps, built upon a cloud-native, high-performance, next-gen blockchain system. With its various infrastructures and developer tools that underpin Web3, applications in Aelf ecosystem can run in a secure, fast, and cost-efficient manner.

The main feature of the Aelf project is the creation of scalable blockchains that can operate in parallel and efficiently process transactions. This is achieved through the concept of “one chain to one type of contract”, which enhances the network’s efficiency and speed.

The ELF token is used to manage network resources, including node management, token transfers, and the execution of smart contracts. ELF token holders can also participate in the Aelf governance system and vote on proposals for changes within the ecosystem.

The Aelf platform utilizes the Delegated Proof-of-Stake (DPoS) consensus algorithm, which reduces energy costs and increases network throughput. DPoS also eliminates the risks associated with mining centralization in traditional Proof-of-Work (PoW) blockchain systems.