PRESS RELEASE: aelf Adds First Technology Heavyweights to All-Star Blockchain Alliance

PRESS RELEASE: aelf Adds First Technology Heavyweights to All-Star Blockchain Alliance

June 27, 2018 0 By Ray
Bolstered Innovation Alliance joined by cybersecurity authority CertiK and new scalability prodigy Celer Network to advance commercial blockchain adoption

Singapore — June 26, 2018 — aelf, the cloud computing, multi-chain blockchain network, has announced the first technology partners of the Innovation Alliance, a coalition of prominent industry players aimed at fast-tracking mainstream businesses toward blockchain adoption. CertiK, a formal verification platform for smart contracts and blockchain ecosystems, and Celer Network, a highly scalable off-chain operating platform for decentralized applications, will bring decades of combined expertise in security, distributed systems, formal verification, and mobile operating systems to the alliance. At a time when the industry is calling out for enhanced blockchain functionality, ironclad code testing, and validation for smart contracts and dApps, CertiK and Celer Network will add invaluable educational resources and advice to the Innovation Alliance as it guides companies through the risks and rewards of blockchain adoption.

Zhuling Chen, Co-founder of aelf, said: “Even the most advanced blockchain projects have been brought to their knees as a direct result of scalability dilemmas and security loopholes. In recent months, many of the most promising blockchain networks have been plagued by scalability issues, bugs, and bad actors. With the launch of the technology arm of the Alliance, we are a step closer to successfully counseling, educating, and facilitating dialogue between businesses and startups that are looking to integrate blockchain into existing commercial practices. To achieve this, we need to tick every box — from business, to strategy, to research, and perhaps the most important pieces of the puzzle: Security and scalability.”

Founded by a team of scientists from Yale and Columbia University, and supported by former senior software engineers from Google, Facebook, and Freewheel, CertiK has developed a series of mathematical proofs with the ability to validate end-to-end encryption, and identify minute vulnerabilities in data systems.

Gu Ronghui, Co-founder of CertiK and Assistant Professor of Computer Science at Columbia University, said: “As blockchain’s potential to transform business services becomes more widely known, and established corporations begin to explore its uses, reliability and security issues remain top of mind for executives.”

With a founding team holding Ph.D. degrees from world-renowned institutions such as MIT, Berkeley, Princeton, UIUC, Celer Network is the first off-chain operating network that combines a carefully designed technology stack and cryptoeconomic model, making the platform scalable to billions of off-chain and trust-free transactions per second.

Dr. Mo Dong, Co-founder of Celer Network, said: “Celer Network, aelf, and all of the illustrious members of the Innovation Alliance, share a strong sense of purpose to ensure that blockchain not only fulfils its promise to provide both transparency and efficiency to mainstream applications, but also that it is reliable, secure, and scalable. As the industry reaches the dawn of blockchain 3.0, it’s a privilege to work alongside fellow ‘blockchain for business’ advocates who place a heavy emphasis on peer-to-peer learning to improve the entire ecosystem.”

CertiK and Celer Network join a growing lineup of world-class blockchain leaders and organizations, including Huobi Labs, the research and ecosystem-building arm of Huobi, one of the largest cryptocurrency exchanges globally; Signum Capital, the biggest and most influential blockchain fund in Singapore; FBG Capital, a major cryptocurrency and blockchain hedge fund in Asia; Roland Berger, the only leading global strategy consulting firm of German heritage and European origin; and Michael Arrington, the prominent Silicon Valley mogul and founder of TechCrunch and Arrington XRP Capital.

For more information on the aelf Innovation Alliance program, visit aelf.io.

About aelf:
aelf is a multi-chain parallel computing blockchain framework which incorporates state-of-the-art IT design principles and technologies to bring it up to a commercial standard. aelf is envisioned as the “Linux eco-system for blockchain”, defining the most basic, essential, and time-consuming components of the system and making significant improvements based on existing blockchains in the market. The system will allow developers to customize it to meet their own needs, particularly commercial requirements for large and diverse industries. For more information, visit aelf.io.

About CertiK:
CertiK is a formal verification framework to mathematically prove that smart contracts and blockchain ecosystems are bug-free and hacker-resistant. To scale the verification, CertiK developed a layer-based approach to decompose an otherwise prohibitive proof task into smaller ones. These smaller proof obligations can be encoded in the CertiK transactions and will then be proved and validated by the participants in a decentralized style. Thus, the CertiK ledgers work as certificates to exhibit the end-to-end correctness and security of the verified smart contracts and blockchain ecosystems, making them entirely trustworthy. For more information, visit certik.org.

About Celer Network:
Celer Network is a coherent technology and economic architecture that brings internet scale to existing and future blockchains through off-chain scaling techniques. It can scale out to billions of trust-free, secure, and private off-chain transactions per second. Celer Network is on a mission to fully unleash the power of blockchain and revolutionize how decentralized applications are built and used. For more information, visit celer.network.