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Komfie Manalo, Opalesque Asia: Alphabit, a global hedge fund investing in digital currencies, has chosen that AELF (ELF) is its cryptocurrency pick for the coming year. AELF is based in Singapore and was launched in December of last year.
Alphabit CEO Liam Robertson said at a press conference in Dubai that ELF would deliver large scale commercial adoption of Blockchain technology and solve major transaction issues through its decentralised cloud operating system.
"I think we are witnessing a turning point in the Blockchain industry," Roberston said. "AELF is a new generation of scalable Blockchain computing network, using multi-chain structure and parallel processing to solve issues around efficiency, transaction throughput, and governance."
Robertson predicts that the value of elf would reach $50 by the end of 2018. As of writing, AELF is trading $1.66 with a market capitalization of $416.18 million. It was ranked number 83, data from CoinMarketCap showed.
"The new technology is keeping an eye on the big picture," Robertson continued. "It allows communication across existing as well as new Blockchains and provides a Linux-like framework for creating and adding new commercial chains onto the ecosystem."
AELF did not engage in a public ICO, choosing instead to raise 55,000 ether, (before the ETH price surged above $450).
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