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Binance Supports aelf Upgrade to Boost Blockchain Efficiency

Discover how Binance's support for the aelf upgrade enhances blockchain scalability and efficiency for business applications.
Published on 2023-10-13

Binance Supports aelf Upgrade

Binance, a leading cryptocurrency exchange, is backing the aelf (ELF) blockchain upgrade. Scheduled for block height 175,663,892 on October 17, this upgrade prompts Binance to temporarily suspend ELF services from 12:00 on the same day, while trading will continue unaffected.

Ensuring a Smooth Transition

The suspension is a precaution to ensure a seamless transition during the upgrade. Post-upgrade, once stability is verified, ELF services on Binance will resume as normal.

aelf’s Scalable Blockchain Solution

aelf is engineered as a scalable blockchain platform for business applications. It utilizes multiple independent blockchains, each with distinct smart contracts and consensus protocols. This architecture allows for increased transaction speed and efficiency by enabling parallel transaction execution. The main chain in aelf's network is crucial for communication among these side chains.

Community and Smart Contracts Integration

aelf integrates community voting, empowering users to participate in network governance. This self-regulation fosters a collaborative environment within the blockchain ecosystem. The platform's smart contracts automate and ensure reliable contract execution. These self-executing digital agreements are programmed with conditions and events, eliminating intermediaries and minimizing errors or fraud.

Aiming for Enhanced Blockchain Potential

The upcoming upgrade aims to enhance aelf's scalability and efficiency, making blockchain technology more accessible to large enterprises and a broader user base. By advancing its capabilities, aelf aspires to establish itself as a leading solution in the enterprise blockchain landscape.

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