As we earlier reported, Aelf (ELF) looks towards the $1 mark this April. The coin became the third coin this April to confirm of a launch its own Mainnet after Golem (GNT) and Skycoin (SKY) made announcements last month. ELF blockchain offers the user with a decentralized platform for cloud computing. The CEO and founder, Cheng Zhuling, gave an interview on Korean TV confirming the company will launch the Mainnet very soon, presumably this April. This would come as a huge surprise to the users of the blockchain given the expected date of release was in May according to the released roadmap.
The Mainnet release has had a positive impact on the resurgence of ELF since the February cryptocurrency bloodbath. ELF is currently raked surprisingly low at 60 on the Coinmarketcap ranking with a rapidly rising market capitalization of $204 million. ELF traders have been on a bull run with each of these investors looking to get a piece of the coin before it hits the psychological $1-mark barrier. The token currently trades at $0.83 USD a piece representing a total growth of 33% in the past 24 hours. This makes it the fastest growing coin amongst the top 100 coins and leaves one to wonder how far the coin will reach in the coming months.
With such numbers flying around a coin that was priced at a modest $2.17 in January, during the bull-run that saw bitcoin hitting a record $20,000, what highs will it hit in case of another bull run? The Mainchain, official name for the Aelf (ELF) blockchain, bring with it even more hope for the investors. This article explains the main reason as to why ELF is headed to success after the launch of the blockchain.
How the Mainnet will benefit Aelf (ELF)
It is important if you want to invest in the cryptocurrency world to know these terms as it sometimes gives you a perfect know of when to buy and sell. Mainnets and Testnets refer to the blockchains and how to transact currency through it. The mainnet allows real currency through but the Testnet doesn’t allow real currency. Testnets allows the development teams to create a perfect blockchain before releasing it for real use.
- The Mainnet gives the development team and community credibility showing that the project was not a scam or fraud. With this kind of credibility, larger amounts can be placed on ELF with ease knowing it is not a scam.
- The mainnet offers far much scalability by enabling people to create their own blockchains on the platform as opposed to it being an ERC20 token. Ethereum is getting slower and this is discouraging application developers from creating on the blockchain anymore. ELF having its own pre-developed blockchain will allow even those with little knowledge in coding to create their own blockchain.
- The price of Aelf (ELF) has already started showing promising signs to reach its all-time high once again. With a constant green through the week, the coin may well cross the dollar mark before the end of the week. The launch of the mainnet will only serve as a boost to see the coin surpass the $2.71 mark.
This is not investment advice. Kindly do your research before investing in cryptocurrencies. They are highly volatile.