Alephium first began trading in February 2022 and it has enjoyed a fair amount of attention ever since. Nestled within the Layer 1 blockchain and using a unique algorithm known as BlockFlow, its main intention is to seamlessly support a massive amount of transactions per second without sacrificing security while promoting lightning-fast processing times.
Alephium could therefore be the next best thing since sliced bread for those who wish to build their own smart contracts from the ground up as well as anyone involved with the DApp community. Simply stated, Alephium will help DevOps specialists to enjoy a level of flexibility that would be difficult to achieve with more traditional methods.
A Bit About Alephium
Alephium was initially conceptualized by cryptocurrency wizard Cheng Wang alongside partners such as Flux Labs and Cetacean Capital. It's also interesting to note that the first mention of Alephium can be traced to a white paper published in February 2019.
However, its first exchange listing (Gate.io) occurred in December 2022. This token has become extremely popular with those who are seeking more efficient ways to create decentralized applications while reducing the gas fees that are often associated with traditional blockchain ecosystems.
While it's possible to invest in Alephium and to mine ALPH tokens, we should mention that it tends to be more popular within the DApp community thanks to its efficient proof-of-less-work consensus mechanism as well as rock-bottom levels of energy consumption (up to 87% less when compared to traditional proof-of-work models).
Alephium is also distinct due to the fact that it functions within its own proprietary sharding algorithm known as BlockFlow. BlockFlow is basically an improved version of the existing UTXO (unspent transaction output) architecture commonly associated with BTC trading.
We mentioned transactional efficiency a few times up to this point and this is arguably one of the most unique aspects of Alephium. This token uses blockchain sharding (splitting a network into multiple smaller blockchains) in order to increase the number of transactions per second. In fact, the developers of ALPH claim that this system is able to support more than 10,000 per second while maintaining the security of single-chain experience.
Once again, here are some interesting features of Alephium that shouldn't be overlooked:
- A token that uses the increasingly popular strategy of blockchain sharding.
- Extremely low energy consumption.
- Can support over 10,000 TPS.
- A highly scalable system.
- Numerous built-in security features.
Now that we've gone over some of the more technical aspects of Alephium, let's delve into the practical side of things.
Utility of Alephium?
Who might actually use Alephium? This utility token has already featured prominently within the smart contract and DevOps community due to the inherent benefits outlined above. The capability of lowering transaction times while dramatically increasing the number of TPS.
Yet another interesting feature of ALPH comes in the form of what's known as the Alephium Bridge. This is essentially a means to seamlessly perform transfers to and from the Ethereum blockchain. It's thought that this bridge will extend to other blockchains in the future.
What about directly mining ALPH tokens? Those who are keen to invest in this project will be pleased to learn that there aren't any transaction fees. However, we should mention that individuals will be required to create their own miner's wallet (as opposed to simply using a traditional wallet). This could be challenging for those who don't possess much technical expertise.
Alephium Price details
ETH Contract address: 0x590F820444fA3638e022776752c5eEF34E2F89A6
›› Details & Tokenomics
Advantages of Alephium
+ Massively reduced energy consumption when compared to other proof-of-work models.+ Alephium has enjoyed relatively steady trading volume since its release.
+ Up to 10,000 transactions can be supported simultaneously.
+ Users can mine ALPH tokens to receive rewards.
+ A great token for DApps and those who develop smart contracts.
Disadvantages
- The technical aspects of Alephium can be confusing to newbies.- Users will have to create a dedicated wallet for mining ALPH tokens.
- Not many crypto wallets currently support ALPH trades.
- Future developmental milestones are not entirely clear.
- As this is a relatively new token, future success is far from certain.
Costs
▪ Rated at 9/10According to the latest information provided by the team at Alephium, minimum transaction fees begin at 0.002 ALPH. This is meant to help prevent DDoS attacks that might otherwise occur.
It should be noted that the fees will also depend on variables such as how many individuals are associated with a single transaction as well as the number of UTXO inputs.
Let's also mention that some third-party platforms may offer ALPH mining "pools" and these are likely to charge additional fees that are subsequently deducted from block rewards. Be sure to compare and contrast different providers in order to find the most agreeable rate.
Reputation and Buzz
▪ Reputation rated at 9.5/10▪ Buzz rated at 10/10
Although this token has remained somewhat "behind the scenes", a fair amount of interest has still been generated.
For example, Alephium has already teamed up with many third-party NFT marketplaces such as DEADRARE and community mining projects including MetaPool.
The fact that ALPH tokens are now also recognized by wallets such as Sahhar and Sesame is also a nice plus that has attracted more individuals within the DevOps community.
If you're curious to keep ahead of the curve, it's a good idea to follow online forums such as Reddit (r/Alephium) and Hiveon. These both post regular updates in regard to ALPH prices as well as user feedback.
FAQ
Can I actually trade Alephium tokens?
Yes, it's possible to directly trade ALPH tokens. Some popular pairings include ALPH/USDT and ALPH/EUR. BitMart, Uniswap v3 (Ethereum) and MEXC Global are common platforms.
What is the total supply of ALPH tokens?
There are currently 190,178,121 tokens available. Out of this figure, 63,941,477 are in circulation.
Where can I follow the latest Alephium news?
In addition to forums, ALPH has made their presence known across various social media platforms including Discord, LinkedIn, Twitter (X), and Telegram. GitHub is also a great source of updated information.
History of Alephium
Ferbruary 2019 - Alephium creators release their first public white paper.
December 2020 - Alephium is launched on Testnet.
January 2022 - The first Alephium DApp prototype is released.
May 2023 - The Alephium Desktop Wallet v2.0 is introduced.
09 November 2023 - The Alephium-Ethereum Bridge is introduced into the Mainnet.
Screenshots from Alephium
More sites where to buy/sell/trade Alephium
Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
Alephium details and tokenomics
