aelf, a decentralized cloud computing blockchain network, has announced that TechCrunch and Arrington XRP Capital Founder Michael Arrington has joined the company as a Senior Advisor.
Arrington’s appointment follows the successful recent conclusion of aelf’s private token sale to accredited investors in December 2017, in which it raised $25 million. In his role, Arrington will help to expand aelf’s global reach and realize its strategic vision of a superior, scalable blockchain architecture that transforms and bolsters the commercial use of blockchain technology.
“With Michael’s expertise, the aelf network will build on its mission of creating a singular hub for all existing blockchains, enhancing efficiency, adaptability, and compatibility for technological systems throughout the world,” Zhuling Chen, Co-Founder of aelf, said.
The aelf network aims to become the “Linux system of the blockchain community”; a highly-efficient platform that enables developers to tailor the system to their needs. Built with state-of-the-art design principles and technology, the network will serve as a multi-functional, customizable operating system designed to meet the requirements of various complex commercial business scenarios.
According to the official release, the aelf network will incorporate cross-chain interactions with mainstream blockchains, including Bitcoin and Ethereum, to enhance scalability and optimize the speed of the network. A consensus protocol will be integrated into the aelf network, enabling users to vote on future protocol updates and feature developments.
“As blockchain use increases exponentially, resolving scalability and congestion issues is a number one priority for enterprises and consumers that many in the community are trying to tackle. aelf’s complex and technologically rigorous vision for next generation sidechain technology is far superior to anything else in the market. I look forward to helping aelf achieve global reach and ignite the large-scale commercial adoption of its architecture,” Arrington said.
In November 2017, Arrington established the first hedge fund to be valued in cryptocurrency instead of dollars or euros, Arrington XRP Capital. The fund is valued in Ripple’s XRP cryptocurrency, a major rival to bitcoin, at $100 million USD and was established to manage long-term investments in crypto and blockchain-based assets.
