AELF Tokens Now Compatible with Decentraland for Virtual Real Estate LAND Purchases
AELF is a decentralised self-evolving cloud computing blockchain network which functions the same way as an operating system. The innovators focused to solve the following;
To be able to create and enable the use of side chains
The creation of a new and unique governance system
AELF aims to segregate the use of smart contracts using side chains which can run hand in hand with the main blockchain. AELF uses the ELF token which can be used by the side chains to pay transaction fee to the main chain for indexing.
— ælf (@aelfblockchain) December 10, 2018
Decentraland, on the other hand, is a virtual platform that is linked to Ethereum blockchain. The platform uses blockchain technology and smart contracts to allow users to gain full ownership of their own digital space and assets, represented through a finite supply of virtual land parcels, called LAND. The LAND is then divided into parcels in which the users become the permanent owners of them.
Interested participants can purchase the parcels of LAND using decentraland cryptocurrency token called MANA. MANA is an ERC20 token that also enables the users to pay for goods and services. After purchasing a parcel of land, decentraland burns the MANA that you purchase with.
The auction which began on 10th December will run up to 23rd of December.
The first LAND auction was held at the start of 2018. Users spent over one-hundred and sixty million MANA on LAND this amount summed up to about thirty million USD at that time.
Decentraland, however, still has 9,300 LAND parcels that remains unowned hence the reason for holding a second auction to distribute the estate. Decentraland will make it easier for ELF token owners to buy their own virtual real estate, thus, opening a couple of new possibilities for the AELF community. AELF is among the chosen few tokens selected to take part in the decentraland auction.
This super collaboration will benefit AELF users to be owners of the Decentraland virtual real estate enabling Decentraland sell its estate.