Elastos (ELA) –Hey there! When it comes to talk about the future, it would be stillbirth to abort discussion about the internet; or blockchains either. Talking about blockchain tech, some coins wield potential that are impossible to ignore. ELA is no exception.
It is not just a blockchain. You may describe Elastos as Web away from the Web. And because Elastos is working at an elastic capacity for the profitability and transparency of its evolving global community of webbers, Elastos Smart Web is sure worth looking out for. Here’s the gist:
Over 17 years ago, Elastos began as an innovation of Rong Chen. He noted that the Web had a greater potential of security and ownership, having been an employee at Microsoft.
He saw that accessing the net most times felt like inviting a throng of thieves! Rong thought that building a decentralised operating system would work; by taking advantage of the blockchain platform.
He thought that an OS could be built; engineered to edge out external protocols seeking to copy data indiscriminately. Rong Chen started to see opportunities in utilising the blockchain platform for his vision in 2016. His ideas began to add up shortly after teaming up with Feng Han (co-founder).
Elastos (ELA) describes itself as the internet of the future. With the horde of activity on the Web, the internet as we know it may get more insecure in no distant future.
To this end is Elastos equipped. It creates a secure platform for dAPPs to work on and off the net. Added to this is the unique opportunity for users to choose and manage their own virtual information.
On the Elastos blockchain, not just individuals have IDS. The blockchain incorporates protocols into its ecosystem as it would individuals. This way websites, assets and applications have their own unique IDs.
As earlier said, Elastos is run through using a protocol that screens unwanted data content. This is completely decentralised to its users. Users own IDs – which is deployed at their own discretion; and with whom they choose. The result is a safe internet economy.
Elastos (ELA) And ICO
The Elastos token – ELA, is limited in supply. It works like Bitcoin. Instead of having a fixed supply however, ELA tokens increase at an annual rate of 4%. Most of its tokens are shared among members and for rewards and other businesses within its ecosystem. Six million ELA tokens went into circulation in the third quarter of last year. ELA’s token standard is pegged at 800 ELA to 1 BTC.
Up till the Present, ELA has been recording notable progress. This records give it a cyberspace presence and might pool more interested subscribers for a long time to come.
For the smooth running of Elastos, a sidechain was created alongside its mainchain. The main chain sees to ELA tokens. The sidechain on the other hand is responsible for decentralised applications. The blockchain was built to allow protocol with other blockchains, outside of the ELA token. Last week, Elastos successfully deployed sidechains on the main chain for the security of transfers.
Perhaps an emphasis on ensuring the confidentiality and trust of all programs deployed on its platform is one reason Elastos is winning getting more feedback from the cyber community.
ELA’s decentralization cuts across Dapps, computer network and crytography. With the viability of this project and with the technical expertise of the Elastos team, ELA might indeed be the base layer for other platforms; as says Betrand Bazire.
ELA is in partnership with the ioeX blockchain. ioeX’ infrastructure is built to allow the simultaneous updates of programs on the network.
According to Business Insider, the blockchain uses distributed ledger to note latent network data. It then effect necessary updates between networks. This presents a case where Elastos is needed. Elastos’ main chain and sidechain technology will enable ioeX engage its solution.
August 30, ELA secured partnership with Bitmain Technologies – expert in cryptocurrency mining. Merged-mining provides an avenue for faster and more productive mining of coins.
Rong Chen remarked that ELA would be one of the coins setting the pace in merged-mining Jihan Wu (Bitmain co-founder) speaking on the Coin Journal platform, mentioned that only three companies have been allowed on their blockchain so far. That means a lot of trust in Elastos!
The OS (Elastos) as an platform serving as a platform for decentralized applications; known as Cyber Republic. CR100 and Empower35 are only two of the one hundred projects in view.
However, blockchains are not the only protocols that Elastos was built to support. ELA is in collaboration with SIAC, WeChat, Zapya, TD-SCDMA Industrial Alliance and still counting.