All about Aelf blockchain
A Small Introduction
Hello everyone and greetings from my side
I am lorik am 20 year boy who is Engineering Student
But am also interested in blockchain and crypto currencys.
In this blog whatever I wrtite its my personal knowledge and my personal experience
That I doing from the years
Note — this content belongs to me if anyone wants to use my content without my permission I will do a legal action .But for educational purpose you may free to use and showing to someone or if you want to use it for own kindly give me credits and everyone is free to use my content . I will explain the aelf blockchain in very simple language that anybody means anyone can understand the aelf blockchain its use after reading my blog you will definitely say it the blog is worth for reading as well easy understanding
So lets start .
Topics Cover In this Blog
- Some basics
- what is aelf blockchain
- how aelf blockchain work
- cross chain transfer protocol (CCTP)
- what CCTP use in real life
- Future of CCTP
- CCTP on blockchain security
- Things that everyone like it
Some basics things that everyone about before understanding the aelf blockchain
What is Blockchain?
A blockchain is very vast subject to cover it new new things are coming into the blockchain So. Inshort
Blockchain is peer to peer technology or ecosystem or network where anyone can join the network and do the transcation without the help of bank or any third parties and the taranscation is peer to peer and nobody can tempred the transcation in which individual records, called blocks, are linked together in single list, called a chain. Blockchains are used for recording transactions made with cryptocurrencies, such as Bitcoin, and have many other applications
WHAT IS ETHEREUM?
Etherium is cryptocurrency which is also used for the peer to peer transcation and used developing dapps and smart contracts where anyone can join the network and do transcation or an open-source platform that uses blockchain technology and its gives you a permission to make agreements and conduct trasnscation directly with each other to BUY/SELL without any middle man .
WHAT IS SMART CONTRACTS ?
Well smart contracts nothing but its kind of agreements which is works on automatically execute when predetermined terms and conditions are met .or in easy way they are programs that run as they been set up to run by the people who developed them. Or( In fact, smart contract is neither smart nor is it a contract, it is just a string of cod) — refers to aelf medium article
What is Aelf Blockchain?
Aelf blockchain is Decentralized Cloud Computing Blockchain Network or Aelf is a decentralized self-evolving cloud computing blockchain network that aims to provide a high performance platform for commercial adoption of blockchain
What is the meaning the above
Well its blockchain technology which works on decentralized cloud computing networks which gives you flexibility use the cloud system without depending on the thirds parties or any middle man on the big commercial scale where big brands and commerce company used the alef in order to gives a mass adoption of decentralised cloud computing around the world or ælf provides a highly efficient multi-chain parallel-processing system with cross-chain communication which means without doing anything user can perfrom or excute the work or transcation on sidechain without affecting the mainchain which is toatally on new level .
How aelf blockchain work ?
Well while reading the whitepaper of aelf I got main points which is shows how aelf is works here is the some points
Everybody should know about it - Scalable nodes on cluster of computers
- Parallel processing for maximum utilization of processing power
- Resource isolation for smart contracts via independent and specialized side chains
- Interoperability to run on and flexibility to choose from different consensus protocols (DPoS — native, PoW, PoS) and private / public chain
You guys might be thinking what all these points
say I will explain in simple way just keep reading
Scalable nodes on cluster of computers
Well its means a node which the backbone of the blockchain which froms the infrastructure of blockchain to preserve the blockchain data for long period of time by adding scalability in node its gives you the flexibility to customise the node with the help of computer cluster where sets of computers connected to each other and work together. Computer clusters have each node set to perform the same task, controlled and scheduled by software.
Parallel processing for maximum utilization of processing power
Parallel processing is the concpect which used in computers where give a load to one particular things which is maybe a processor any other things which functioning in the system its totally reduce the load in the system to giving the load to the single computer to many computers which gives the boast in to network or in system which leads to good efficiency ,good response rates ,high rates of mobility ,or kind of smoth funcatining in the network or system ,a very important for the user also the anyone which less time consuming which leads to fast works and faster result in the network user or anyone use it feels excited or get fast action . or another word a method of simultaneously running program on multiple microprocessors . which reduce the processing time.
Or little more deep in it such as multitasking by time sharing on a single core CPU. In parallel computing a computational task is with more and good efficiency and less time consuming.
But aelf use the same things but one the next level by doing the maximum utilization of processing power of the cloud computing present in the network which is using there full use means totally available computers in the networks which leads to lighting speed in functioning , network faster result or mainly affecting main chain that sidechain easily doing what they want to do it in the network . .
Resource isolation for smart contracts via independent and specialized side chains
Resource isolation may make user to access control in the network with help of security polices. or protect to harmful vulnerable attacks in the system that can not do the damage in smart contracts which gives the kind of security in network or anyone can use without any fear of attacks in the system
well aelf using both chains the side chain or main chan both are connet to each other that there is need for resource isolation in the system that anyone can use it without any fear and aelf is using same technique in specialized in sides chain work .
Interoperability to run on and flexibility to choose from different consensus protocols (DPoS — native, PoW, PoS) and private / public chain
well aelf gives you the ability of computer systems in a software to exchange the information and make use of information in the system which may also gives you flexcibility to choose your own desire of different kind of protocols like -
POW — Proof of work
POS — Proof of stake
DPOS — Delegated proof of stake
Private chain — its chain which only seen by the limited user for the public.
Public chain — it’s a chain where anyone in network can see the the chain its for public use .and its used for the people
By the name suggest .
Cross Chain Transfer Protocol (CCTP)
Well CCTP is the consensus protocol, accounting model, and transactional model of the proposed sidechain construction. the structure of the cross-chain transfer protocol on the sidechain side which is based on the cloud computing network, smart contracts . or in simple language
Image for post
Lets assume you have to go with your car from one place to other and you choose 2 way highways which means you have only 4 lanes on that 4 lane highway is full of tarffic
2 way highway 4 lane highway
And here the come 8 way high which have 16 lanes which have less traffic and and you reach your destination in fastest time
8 way highway 16 lane highway
The whole things in different word called CCTP
Well CCTP is do the trascation using side chains a without affecting the mainchain and mainchain easily interact with other chains like like bitcoin, etherium
Or its not about the trascation its use for more many other work .
what CCTP use in real life
well talking about CCTP use in real life is very vast and lot to discover because it’s the thing which may you say the technology or blockchain type protocols which every one use in our daily life everyone needs CCTP in different industries weather in blockchain industries , Commerce induestires , Insitituion Industries , School, Collages ,textile industry and many more I can get all the name
an example
lets assume you have to buy a candy or vegetables for the dinner you go to general store to buy chocolate and go grorrcisers store to buy vegetable .but when you go to a store which multi store where you can buy both thing in the same time here is multi store is cctp which gives you both things in less amount of time ¸you will be less tried , or maybe you will get little discount , you may save the your petrol/diesel which is used to go two different strore.
Well in real life there is lots of use case of CCTP but that I have share here is in
1)blockchain industries user can buy/sell at one place without going different exchanges .its save user times, user digital assests , and gives the fast result
2)Educational insititutes student easily learn and archive there own desired knowledge without going second place at one platform student easily study which again good , less time consuming , fastest result , and without any fear of didgital attacks.
3)In commerce industries User can buy sell the goods without any fear theft and easily check the status of there good and while doing something user can do buy sell of other products in day to day life at one place without going different stores .
FUTURE OF CCTP
Well talking about the future of cctp is very bright because of there simplicity level and there easy to use infrastructure anyone can use it without deep knowledge of blockchain or technically knowledge small knowledge is enough for this using this
the thing people wants from the years and aelf do it the same which leads to mass adoption in aelf blockchain and growth of community in healthy way without any kind of fear is something like a very sweet thing happen in blockchain.
In fews years
Big commerce company will adopt aelf
Big stock forums will adopt
School ,collages, University,
Power Generation Corporation
And other company which want to use it
CCTP ( Cross Chain Transfer Protocol)
CCTP on blockchain security
well talking about security in blockchain is big issuse or problem which means its concern of trust between people or exchanges where people used to buy/sell the crypto . you may heard the that exchange hacked that amont of crypto is stolen from the exchange and so on .
aelf doing the a great job providing CCTP in blockchian security by doing this aelf use the HTLC (Hashed Time-Lock Contract) well now what is this wait i explain
A Hash Time Locked Contract is a class of payments that use hashlocks and timelocks to require that the receiver of a payment either acknowledge receiving the payment prior to a deadline by generating cryptographic proof of payment or forfeit the ability to claim the payment, returning it to the payer which provides the very high security in the network .you guys might be thinking how this things its work well its work the Cross chain is to verify the key feature that enables side chains. Because side chains do not have direct knowledge about other side chains, they need a way to verify information from other chains. Side chains need the ability to verify that a transaction was included in another side chains block.By doing this its gives the high security to the user who using the aelf blockchain and user do the trasncation without fear of hacking .
Things that every one like it about aelf
- The simplicity of the protocol
- A small boy can understand what aelf trying to say
- Cloud computing on the next level
- Totally Decentralized
- Anyone join the network
- Cross Chain Transfer Protocol
- Easily Accessible