update 11 October 2021

What Next for aelf? Mapping Out the Journey Ahead

A little over a month ago, aelf launched its mainnet token swap, one of its most essential upgrades in Q3 2021. aelf aims to build a blockchain infrastructure that connects with existing ecosystems such as Bitcoin and Ethereum. 

According to the official website, the bridge is already running on aelf. But, what does the future hold for aelf? Let’s have a more in-depth look at the ecosystem’s roadmap!

What is aelf?

aelf is a digital assets technological company whose focus is on building a fully functional blockchain ecosystem. aelf introduces a new cloud network designed to lead the decentralized future. 

The one-stop blockchain solution includes:

  1. aelf mainnet – a cross-chain network that enables the transfer of digital assets from one node to another. This process completes across different chains within the cloud computing software.
  2. aelf oracle – Helps with the retrieval of off-chain data between public chains.
  3. Diversified DeFi protocols- use aelf’s technical advantages to tap into DeFi through AMM, lending, and NFTs. 

Unraveling the aelf roadmap

With only a quarter of the year left, aelf is keen on making tech, product, and ecology upgrades. Also, the project is looking to explore the emerging trends within the blockchain scene. For instance, it wants to delve into DeFi, GameFi, trading, and NFTs, among others. 

Tech and product upgrades for Q4 2021

For the next three months, aelf’s technological pursuits will center around upgrading the ecology kit and releasing aelf v1.1.1.

The project developers will be working to introduce new versions of products on the aelf blockchain browser. Users can expect new features such as the aelf wallet and the night Elf extension. Further, aelf will be enhancing user experience in the ecosystem by improving interactivity and diversifying the available applications. 

The release of aelf v1.1.1 will mark the deployment of NFT contracts into the ecosystem. Nodes will be able to connect via addresses. 

Ecology upgrades for Q4 2021

Much of aelf’s efforts in the remaining months seem to focus on making ecology upgrades. The project has so much in store for this last quarter. Here’s a breakdown of what these upgrades look like. 

  • Circulate stablecoins. Following the release of aelf v1.1.1, the project will start mapping out stablecoins, such as USDT and USDC. Also, aelf will support fast and secure payment transactions using these stablecoins. 
  • Hackathon events. Together with the developer community, aelf will hold hackathon events to introduce the most popular DApps. 
  • Open node election. Voters will stake to vote to select 17 production nodes in charge of the ecosystem’s ecology. 
  • Sidechain auctions. aelf will use auctions to allocate side chains to individual applications as needed. 

What’s in store for 2022?

From the released roadmap, aelf will drive most of its technological and product upgrades next year. The project will only make an ecology upgrade in the first quarter of 2022 by extending the aelf Oracle system. Following the upgrade, two-way communication will be open among projects. 

So what efforts will aelf be making to improve its technology and product? Here’s a run-through by the year’s quarters. 

Q1 2022

The first quarter will focus on simplifying the workflow of blockchain development. The integration of the Developer Kit will make it easier to deploy smart contracts within a few minutes. Further, the team will be releasing the aelf v2.0.0, which will see the partial reconstruction of models with distributed framework dapr. 

Q2 2022

According to the schedule, the release of aelf v3.0.0 should take place in the second quarter. This upgrade will enable the web assembly smart contract. Additionally, users will be able to earn by providing storage to increase usage efficiency. 

Q3 2022

aelf will launch a decentralized storage platform with the release of aelf v4.0.0. The ecosystem’s users will be able to find decentralized storage nodes for their app data. Also, aelf will build a market that uses storage awards and algorithms to allocate the storage nodes. However, one sidechain will become the central storage for media resources. 

Q4 2022

The final step in 2022 will be to pave the way for further extensions on aelf’s ecology. This will be possible by releasing aelf v5.0.0, indexing homo-structure chains on the PoS consensus. 

Final Thoughts

aelf has made significant steps towards its goal of being the next breakthrough in the blockchain world. Just this year alone, aelf has had several wins, including the mainnet launch and a rebranding that expanded its product structure into an entire ecosystem, including a mainnet, a versatile Oracle network, and diversified Defi protocols. 

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Should next year’s technology upgrades be complete successfully, aelf will be looking to expand its ecosystem even more.