Guanglei presents aelf’s Technical Progress
Aelf technology meetup held in the United States & live demonstration of contract deployment and cross-chain transaction verification process
As countries continue to invest in blockchain technology, who will become the global center for blockchain in the future still remains unknown. However, while projects compete with each other, a cross-regional exchange and cooperation has already begun.
On November 16, 2018, aelf & Celer Network held a joint offline meetup event in San Francisco, USA. Guanglei Deng, aelf’s core developer, and Xiaozhou Li, co-founder of Celer Network, discussed in depth the existing technological breakthroughs in blockchain technology, the direction of current technical applications and the construction of current technical communities for each respective project were also elaborated on.
[Building new ideas based on pain points]
Guanglei Deng, with more than ten years of experience in new projects within the industry, conducted an in-depth explanation of aelf technology.
DPoS Consensus Agreement
Through the DPoS Consensus Agreement, all stakeholders can vote for a delegation node. These nodes will be responsible for executing transactions, packing blocks, and generating legal blockchains. DPoS primarily solves the problem of governance. To a certain extent, DPoS can also provide better processing performance. Because of the DPoS formula, the decimation time of the delegating node is predetermined and their intervals are very small.
Main chain + multi side chain, one chain one scenario
Aelf’s original multi-side chain parallel structure mainly solves the problem of resource segregation. One side chain supports one scenario, and each side chain has an exclusive set of resources. This also enhances the processing power of the entire platform to a certain extent, and the congestion of one side chain will not affect other side chains. The purpose of the main chain is to verify the blocks generated by the sidechains, facilitating cross-chain communication.
In addition, aelf has also developed parallel execution of smart contracts. Some particularly high traffic contracts may have multiple transactions in the same block. Parallel execution allows these transactions to be executed simultaneously without being tied to the processing power of a single computer.
The components of aelf run in cluster. Combined with the modular design, the processing capabilities of each module in aelf can be scaled and optimized.
[Practice and Prospects]
After introducing the core technical concepts of aelf, Guanglei demonstrated the aelf block browser, contract writing and front-end interaction, and the cross-chain transaction verification process based on the aelf blockchain system. This is the first public demonstration from the aelf development team prior to the launch of aelf mainnet.
The smooth and successful implementation of this demonstration marks that the fundamental infrastructure of aelf network has been developed to a high degree, which means that the development of aelf will enter the final stage.
[Trends and Prospects]
After the demonstration, Guanglei explained the future development direction of the aelf developer’s community. He said, “As our developer’s community continues to grow, aelf will gradually improve the developer documentation to provide devs with the most effective, efficient and intuitive development tools. In the near future, we have also put the developer’s incentive program on the agenda, giving developers maximum economic incentives while interacting with the aelf technical team.”
During the meet up, aelf reached consensus with the guests on a number of topics in relation to the direction of technology adoption. In future blockchain industries, aelf technology as a whole, will suppport the operation of large-scale commercial applications.