The ELF cryptocurrency, also known as Aelf, is the local currency of the same-name platform. The task of the developers is to create a decentralized service for developing applications. In the future, it is planned to use the project in a number of online areas, such as the Internet of Things, the financial industry, as well as user verification, as it is said in many ELF coin reviews. The creators hope that this development will bring the blockchain and business closer together. ELF works on the third-generation blockchain.
Presence of sidechains. Due to the fact that there are several levels of sidechains, the platform has multitasking. This is an important factor in favor of the commercial attractiveness of Aelf, and accordingly, with the rise in the price of the Aelf platform, the ELF coin price will grow.
Transaction speed. The quality of work of the Aelf team is impressive in this area. The financial transaction takes only 4 seconds. This is much less than in bitcoin and many other of the world's leading cryptocurrencies.
Security. Even with minor transactions, a confirmation of the operation on 5 blocks is required. If a large number of ELFs are transferred, the transaction is confirmed on 15 blocks. However, this transaction will take longer (approximately 60 seconds).
The basis of the ELF cryptocurrency is the Ethereum blockchain. The token was created on the ERC20 standard. Accordingly, the digital currency can be stored on most wallets working with Ethereum. For example, a good solution would be Metamask as the ELF coin wallet. This is an online wallet that works as an extension for Google Chrome and Mozilla Firefox browsers.
ELF is not too famous among investors. The daily trading volume is only $13 million. However, you can find the cryptocurrency on well-known crypto exchanges. For example, on Binance. You can also buy ELF at Huobi.pro and OKex. You can find out the current rate of the cryptocurrency at CoinMarketCap. Also, read the hottest ELF coin news to understand the experts’ predictions on the coin price.
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