aelf is a scalable, high-performance layer 1 blockchain based on cloud computing infrastructure. It's ecosystem supports

1. DeFi
2. NFT
3. IDO platforms
4. Other web3 apps

Consensus Mechanism

aelf uses the Delegated Proof-of-Stake mechanism. The consensus protocol is split into two parts

Election- it is the process of determining who will produce the block. Everyone can participate in the election by locking an amount of ELF tokens. The top (2N+1)*5 nodes will become the validation center. N starts with 8 and increases by 1 every year.

Scheduling-When it will be produced

The aelf blockchain delegates 2N+1 Core Data Centers. N starts with 8 and increases by 1 every year.

aelf Main chain

It is the central blockchain of the Aelf network which handles most transactions and supports blockchains such as DeFi, NFT creation, etc.

aelf sidechain

One chain is designed for one use case, distributing different tasks on multiple chains and improving efficiency effectively.

ELFUSD prices surged more than 155% from Oct low of $0.3318. It hit a high of $0.860 at the time of writing and is currently trading around $0.794. The pair holds well above the short-term (21 and 55-day EMA) and long-term moving average (200-day EMA).

The near-term resistance is around $0.870, any indicative breach above will take the pair to $1/$1.38.On the lower side, immediate support is $0.64, and any violation below targets $0.54/$0.375.

Indicators ( Daily chart)

CCI(50)- Bullish

Directional movement index - Bullish

It is good to buy on dips around $0.54 with SL around $0.37 for TP of $1.