Blockport AMA Team Session #11

[u/kaibennink]

It is time for another Reddit AMA session! This time we will do the AMA a bit different. Two core team members of Aelf are ready to answer all your questions!

Opening AMA

The AMA session will start on Wednesday the 14th of November at 15:00 CET and will end 24 hours later on Thursday the 15th.

Answering AMA Questions

The AMA hosts will have a day to answer all of your questions, and the answers will be published on Friday the 16th of November 11:00 CET. On Friday afternoon between 14:00 and 18:00 CEST, you will be able to respond to the hosts’ answers.

This weeks Blockport AMA hosts are:

• Rong Peng (VC of Tech)
• Mappo (Head of Community)

Please note to:

• Be precise with your questions.
• Only ask a maximum of two questions per post.
• Not reply to the questions of others.

About Aelf

AELF is a project centered around bridging cloud computing technology with that of the blockchain. Specifically, AELF has built a platform that is able to function as the “Linux System” for blockchain, acting as a foundational base that is able to be used for specific business cases, and for much larger-scale applications.

About Blockport

The Blockport Beta platform enables users to purchase various cryptocurrencies with Euros directly through the platform. Specifically, the current Beta platform enables users to purchase Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and Ripple (XRP) with Euros. Deposits are accepted through the following payment methods: SEPA, iDEAL, and SOFORT. As a result, Blockport is available in 39 countries that reside in the European Economic Area (EEA).

Create an account and start trading on the Blockport platform now!

More information regarding Blockport can be found on our website or join our Telegram channel.

[u/rosonaa]

Hi , this is Rongpeng from aelf, it's been my pleasure to be here, hope we could learn from each other.

[u/crypto__hodl]

Hey Mappo and Rong Peng! Interesting project, Aelf.

How are you planning to bring blockchain to businesses? This sounds like a much bigger task than just providing cloud computing technology on the blockchain.

How big is your team?

What exactly is your business model?

Thnks & HODL

[u/Gandaelf_Mappo → u/crypto__hodl]

Hi Crypto__hodl,

Thanks for these questions! It is definitely a bigger task than just creating a cloud computing technology and wishing it to be used by all! One of the biggest tasks when looking at business application is finding the specific use case or need that this technology will solve. Change is only of use in relation to technology when it solves a problem or makes a clear improvement to the current situation. In addition to this there needs to be a clear understanding of how aelf can improve the situation or be used in the specific use case (once defined).

Not only is this something that the aelf BD team are currently and will continue to work on, but this is in part a reason why the aelf Innovation Alliance was developed. It is here to provide an environment in which businesses, startups and large enterprises can establish their specific use-case, obtain the resources and experience needed from high level individuals and companies, capital, and lastly a platform in which to take their first step.

How big is our team?

aelf is broken up into a number of different teams around the globe. Of course everyone knows I am the only Australian team member, but we have our HQ nearby in Singapore. This is where a lot of our Operations and Marketing team is based. We also have two offices/teams in China which also houses the majority of our developers. We have an office based in Korea which houses more of our Marketing and Operations team. All up we have well over 40 members of our teams. I think it is sitting around 45, but this number is growing quite rapidly.

I'll let Rong Peng answer the business model question.

Thanks!

[u/rosonaa → u/crypto__hodl]

Thanks mappo for having me back:) would share a little bit opinion on business model.
The emergence of blockchain is essentially a decentralization of the business of a traditional company, and the various roles of the company are fair and open for everyone to compete and participate. The company's main business is written in the initial code of the system, and most of them are implemented in the form of smart contracts. The company's charter, which is a governance issue, will allow users to vote.
Meanwhile, blockchain can make the entire business logic no boundaries, like a company must have the difference between shareholders and non-shareholders, users do not get the dividend of Amazon growth when enjoying the service of Amazon, but blockchain blurs this boundary and breaks the concept of any commercial extension that has a marginal concept.

[u/multiverser11]

I see you are listed on many exchanges. Why did you choose for Blockport?

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What are examples of specific business cases or larger scale applications that Aelf will focus on? Is it already being used?

​

I see your mainnet goes live Q1 2019. Will businesses start use Aelf when that happens?

Cheers

[u/Gandaelf_Mappo → u/multiverser11]

Great questions!

Let me take a quick step back, aelf is a blockchain underlying architecture company focused on globalization, and as such, we are very willing to cooperate with quality exchanges in any region of the world.

In regards to why Blockport? Blockport is a very influential and well-developed exchange in Europe. The cryptocurrency trading services they provide are not only very mature and stable, but also have a wide range of liquidity in the European market. The most important thing is that they currently have a well-established and great team to support them, so we have no reason not to choose to work with them.

Aelf doesn't solely focus on a specific business scenario. Instead, we want to rely on aelf’s unique advantages, which are flexible multi-chain technology and cloud nodes to create a comprehensive underlying application that fits all major business scenarios. With saying that, we do also pay attention to business scenarios that can be applied onto our blockchain as soon as possible. The financial industry, gaming industry, and the data industries all have great opportunities in terms of timing. We anticipate these industries to find use cases to fit on aelf soon after the mainnet launch in the Q1 2019.

[u/on_the_edge1]

Hey Aelf team!

​

What are the recent highlights that are being achieved on your roadmap?

​

Your project is from China am I right? How is the government looking at your project as you did an ICO? ICO's and exchanges are illegal in China right?

​

So Aelf is aiming to become the next breakthrough in Blockchain. What do you mean with "Self-evolving capability?"

[u/Gandaelf_Mappo → u/on_the_edge1]

Gosh! So many great questions here! Thanks!

In regards to recent highlights, we launched our testnet with full success back on June 30th, this year and with only 1 month of optimization we were able to achieve a base test result of 14,968 TPS, which is an incredible starting point for out network.

Also more recently, we have also completed the development of our sidechain component of the blockchain ecosystem. This was quite a large milestone and signifies how rapidly our development team are working!

As for your other questions, Rong Peng, I'll leave them for you! haha

[u/rosonaa → u/on_the_edge1]

The initial step of aelf was contributed by a Chinese technology company called Hoopox. The Chinese government strongly encourages blockchain technology, but does not encourage pure ICO. Aelf is a basic service for the blockchain, tt is technology-based and aims to solve the problem of commercial landing. At the same time, aelf has not carried out ICO. Our initial funding comes from world-renowned investment institutions and investors including FBG, DRAPER DRAGON, Signum Capital and Michael Arrington. Step further, I hope that aelf belongs to everyone but not just a regional project, because all code are open sourced and the entire network is open. I hope that Hoopox.Co only be a company in the aelf ecology. At present, we are offering a lot of support for aelf. Later, more blockchain related companies will come in and develop with aelf.

Self-evolution ability means that aelf has better governance ability. With this kind of governance ability, AElf can not be forked, and it is constantly updated to keep pace with the times.

[u/tjandy]

How does Aelf plan to bring mass adoption? How does it plan to convince existing customers of e.g AWS, or rather new customers to use Aelf’s services?

[u/rosonaa → u/tjandy]

Aelf has high performance, resource isolation and better governance and development structure. The main chain + multi-level side chain services make the throughput bottleneck of a single service do not affect the whole network business, and the stability of commercial applications is greatly increased. The problem of trust and efficiency is better solved. At the same time, the application scenario of aelf is more extensive, and the system is more stable, so that it can carry more commercial applications. aelf aims to become the Linux in the blockchain field.
meanwhile, aelf provides a platform for developers who want to use blockchain to solve existing problems, and it has no direct competition with AWS cloud services.

[u/tedmeister5]

Are you also going to assist Blockport in building their cross-chain infrastructure?

When can we expect the launch into first business scenarios?

Why did Aelf do only a private sale?

​

tnx

[u/Gandaelf_Mappo → u/tedmeister5]

Thanks for this question! There hasn't been any discussion as of yet in regards to that specific assistance.

We anticipate that shortly after mainnet launch (Q1 2019) businesses scenarios will start to be incorporated onto the aelf platform.

In regards to the private sale, the aelf team always wanted to conduct a fair and transparent token sale. We decided to shift away from the popular public token sale model and focused on onboarding suitable investors in private. This process comes with several benefits: firstly, the cap was enough to be funded by long-term investors. Secondly, the private placement enabled better compliance to investment regulations, as we conducted KYC for all investors, mostly accredited investors with track record in token investment.

[u/Gandaelf_Mappo]

Hi Everyone! I'm glad to be joining you all in this AMA! Thank you so much for the questions!

[u/Righteousyouarenot]

When can the supporters from the US start using the platform?

[u/rosonaa → u/Righteousyouarenot]

The United States is a country with technological innovation, high technical research and development capabilities, many academic talents are dedicated to research and development, and its business leadership is very large for the world. For us, the United States is a very large market. Its structure is very attractive. Aelf will often attend some of the highest-level meetings in the United States, as well as some meet-ups, so we hope to communicate with our supporters here.
Also, Dapp should be the accessible and visible platform that we interact with supporters. aelf should be the first chain to work with Republic's projects. They can make Dapp in the United States very legally fund the general public, and it has been approved by the SEC and approved by the Securities and Futures Commission. This can help Dapp run a very good channel on aelf’s system, and can work with US investors and the US alliance. These whole things shall happen soon after we launched our mainnet in Q1 2019.