PRESS RELEASE: aelf Testnet Gears up for Enterprise-Ready Blockchain 3.0

PRESS RELEASE: aelf Testnet Gears up for Enterprise-Ready Blockchain 3.0

August 9, 2018 0 By Ray
Today, aelf, a multi-chain network and pioneer in blockchain for business, has unveiled its highly-anticipated testnet results. 
The initial testnet, which trialed transaction functionality for enterprise-ready blockchain solutions, achieved 15,000 transactions per section (TPS) — a key development in the commercialized application of public chains.

aelf Testnet Demonstrates the Full Potential of an Enterprise-Ready Blockchain 3.0 Network

Promising signs of truly scalable network further aelf’s mission to promote commercial adoption of blockchain

Singapore — August 8, 2018  aelf, a multi-chain network and pioneer in blockchain for business, has released its highly-anticipated testnet results, following a successful launch that lay the groundwork for customizable, blockchain-based commercial solutions. The initial testnet achieved 15,000 transactions per second (TPS), which is an important development in the commercialized application of public chains. The results highlighted three key differentiators to both 2.0 and 3.0 networks already developed and in development: Speed, scalability, and replicability of the testnet.


Zhuling Chen, Co-founder of aelf, said: “These results are not only a cause for celebration for aelf and its community, but also a promising sign for enterprises looking to integrate blockchain into their commercial practices. Addressing scalability has been the most hotly-debated issue in the blockchain industry for the past 12 months, and running a testnet that successfully demonstrates the viability of parallel processing, and the speed and volume at which a network can handle thousands of transactions, is one of the most exciting developments we have witnessed this year.”


The testnet is a key milestone that showcases the progress in aelf’s plan to promote commercial adoption of blockchain before the launch of its mainnet in Q1 2019, when enterprise-focused blockchain projects will be able to fully function and customize their own solutions on aelf.


aelf advisor, and TechCrunch and Arrington XRP Capital Founder, Michael Arrington said: “aelf’s superior design and plans for its technology drew me to the project in its early days. The outstanding, preliminary results of its testnet only strengthen my belief in aelf as a blockchain-for-business trailblazer in a very noisy space.”


All codes, environments, and procedures are available on GitHub for the public to test and replicate the results, representing a further key difference in the way aelf ran the testnet.


Zhuling Chen said: “This is an exciting first step for the aelf network as a whole. Parallel processing coupled with the cluster nodes is one of the core components for our system that differentiates our approach to scalability and high performance from others. One of the most fundamental values of aelf is its ability to continue to scale in performance just by adding more computers to each node without having to upgrade the pre-existing hardware. There is much more room for us to optimize and increase the performance of the network in the future. I believe what we revealed today is the demonstration of this very potential. Our next step is to work with the community to test end-to-end performance with all the other components of our blockchain.”


For more information on the aelf platform, 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. aelf’s token (ELF) was recently selected by Huobi’s HB10 fund as one of the top 10 most reliable investments based on its well-founded platform. For more information, visit aelf.io.