Aelf Strengthens Blockchain Ecosystem Through New BP Seats

Aelf, a creative blockchain platform, is excited to announce two new Block Producer (BP) seats on its network governance. This strategy boosts network security and decentralization. It is crucial to Aelf’s blockchain ecosystem development.

We're excited to share that aelf has expanded Block Producer (BP) seats by two, strengthening network security & decentralisation. Besides, participants in aelf governance can now earn #ELF tokens as rewards.

Dive into our article for more details!https://t.co/3wzsSAnl4q

— ælf (@aelfblockchain) February 22, 2024

Aelf Enhances Governance with AEDPoS Consensus Mechanism

The AEDPoS consensus mechanism supports Aelf’s governance. BPs, candidate nodes, and voters can actively participate in network governance. Aelf ensures fair and democratic decision-making by giving power to these key people, which boosts the credibility of network.

The addition of two BP seats shows that Aelf is always improving and innovating its governance framework. Aelf’s contract limits the network to 2N+1 BPs, increasing annually. Aelf has steadily added BP seats since the network started. The new seats bring the total to 21, making network governance more diverse and decentralized.

These new BP seats ensure Aelf blockchain safety and efficiency. BPs ensure transaction validity, smart contract authorization, and network efficiency. Aelf reduces centralized control and network instability by accepting new BPs. This strengthens and decentralizes the ecosystem.

Along with BPs, candidate nodes are crucial to Aelf’s governance. These nodes participate in governance elections based on vote count. New BP seats give candidate nodes an exciting chance to run the network and shape the Aelf ecosystem.

Aelf’s governance structure includes ELF token rewards for active participation. BPs, candidate nodes, and voters can receive rewards for their network work. These prizes encourage network stakeholders to participate in governance and help it succeed.

Aelf Builds Open Ecosystem with Decentralized Applications

The steps to join Aelf’s governance are simple. New leaders are automatically elected every week on Aelf. Candidates and BPs are full nodes. These nodes are crucial to network governance and decision-making because voters vote on them.

In the meantime, Mainnet ELF token holders can choose BPs and candidates. Instead of voters, BPs and candidates set up and maintain nodes. They can lock up ELF tokens for nodes they support for a set time and receive rewards. This democratic process ensures that everyone has a say in network management, promoting openness and participation.

Aelf wants to build a strong, open ecosystem beyond network management. With the release of many new decentralized applications, Aelf has grown and developed. This vibrant ecosystem gives people and groups many opportunities to use blockchain technology to improve the world.