This post is about AELF ("ELF") - a crypto (also labeled at times as the "Polkadot of China") that aims to solve both the scalability and cross-chain communication (just as Polkadot does) challenge by introducing the concept of "parallel sidechains". AELF goes one step further by trying to solve the scalability issue as well. I know - this all sounds a bit like blattery & technical Chinese for you probably, well it is also a Chinese coin :D
Scalability is one of the major problems preventing blockchain technology in general from achieving any trend of mainstream adoption. E.g. Ethereum still has a quite limited 15 transactions per second (TPS). This is an order of magnitude far too slow for any real mainstream use. Ethereum will take some time in solving that scalability issue, but it is working on it by preparing a move from the "POW" (proof of work) protocol to a proof of stake ("POS") protocol. A good example of the latter is NEO, with a max theoretical transaction processing speed of 10.000 TPS (!). (Fun anecdote: the crypto kitties hype practically crippled the ETH performance for some time, even though it wasn't even such a big fad).
So... scalability is crucial to blockchain tech survival, and the race towards providing the best solution(s) is on the table.
AELF is in this race. And...it did not even go to the "ICO" stage, because it was completely sold out at the "VC" (Venture Capital) phase (investors were some of the largest "VC" players in Asia) :-)
So what more is there to say about this possible "mooner":
--> It will release a main net by Q2 2018 (according to its planning, and which is very soon compared to other players)
--> It has some serious "VC" backing AND is trying to solve the most crucial challenges to blockchain technology, and seems to be doing a pretty promising job at it so far
--> Its market cap currently stands at $150M. If it were to reach the same size as some of the more known players, it could easily double, triple, quadruple, and go to the moon.
Today's Technical chart situation:
--> We are looking at a golden cross in the , an oversold , and a downtrend that is about to be broken. Let's get some green behind that and see if the time is already now!
--> Strong support on the light green horizontal line
--> Could even be a in the making
--> This coin was already interesting back in January before the sell-off. Now, after a decent correction that cut the coin's price back from around over $2,5 to about $0.58 today, it is even more interesting to have a look at. The upward potential is considerable.
--> China is rather restrictive lately on "ICO"s and stuff, making this investment maybe somewhat less interesting or more risky
--> We are still looking at an overall crypto sentiment, so don't expect to make a quick buck on this. On the other hand, if you are patient, it can make sense to buy a small position in this one, simply because of its risk/reward ratio. Be patient for a couple of months - maybe even a year, and the odds are in favour of a pump on this one.
Definitely do your own research, I am merely pointing out that some coins out there might be interesting in putting a small position. Huge potential, but risk alike.
--> May I ask you, to like this post, if i) you liked it of course; ii) found some value in it; iii') would like to get more of this!
All the best!
If we look at the Stochastic momentum index now, we have a death cross there, so downward pressure, which already translated in the first -8% move of today.
Stay alert if you trade short term ;-)
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