Elastos

Overview of Elastos

Elastos becomes the first blockchain project to deliver a fully integrated runtime ecosystem that creates a single place for managing tokens, creating and managing W3C-compliant decentralized identities, running Ethereum based smart contracts and transporting network data in a decentralized way, all in one native application designed for dApps.

Elastos will be able to digitize assets and the content making it nearly, if not completely, impossible to hack the data, prevent phishing attacks, malware and any kind of virus infections by powering its own form of the internet through the blockchain technology at its base.

Elastos uses a hybrid consensus mechanism in which the mainchain is merge-mined with Bitcoin to leverage Bitcoin’s considerable hash power, then a network of Elastos-token-holder elected ‘Super Nodes’ vote on blocks through a Delegated Proof of Stake architecture.

Elastos Founder Rong Chen will represent the project on the Data Policy Platform, bringing with him deep expertise from over 35 years of experience in data policy and operating systems, including a notable decade-long stint at Microsoft Research in the 1990s.

Elastos employs a hybrid consensus mechanism of AuxPoW + DPoS for its main blockchain where each block is packaged by Bitcoin miners and then signed by Elastos DPoS supernodes, thereby creating a finality to blocks which prevents the blockchain from forking.

Elastos, a Chinese-based blockchain project, is inching towards developing a decentralized “SmartWeb” of home computers and other devices, adding extra layers of privacy and data protection than current infrastructure allows. 

Elastos allows people to create an economy around their data and allows developers to actually ‘write once, run anywhere’ —applications are equipped with maximum security, built with high scalability and run with total decentralization.

Elastos is built on the concept of removing middleman, monetizing computing power, protecting digital assets and offering incentivised digital properties transactions with enhanced security and speed at an affordable cost.

Elastos was founded by Rong Chen, an ex-Senior Software engineer at Microsoft, who went on to act as CEO of Kortide, building apps and services on the major smartphone platforms and the Elastos SDK.

Elastos gaat hier een stap verder met een eigen blockchain, waarin niet alleen smart contracts gebruikt worden, maar ook digitale producten een eigenaar krijgen op de blockchain.

Blockchain

Now that we know how Elastos works, it is possible for readers to conclude that Elastos does not need a blockchain technology to function in reality, the blockchain provides the secure ID to access Elastos.In a case where a hacker tries to override the user’s security, it is the blockchain that will be responsible for the assurance that the ID is authentic, not tampered with, void of virus and malware, and perfectly matches with the one registered in the block.

Mine

Also, Bitcoin miners will have an incentive to keep mining Bitcoin instead of an altcoin, which would make Bitcoin’s network more secure.Elastos will adopt merged mining with Bitcoin, which means that the proof of work used to mine Bitcoin will also be valid proof of work for mining Elastos.Merged mining with Bitcoin means that Elastos will have a secure network and minimizes electricity usage.

Network

According to Chen, Elastos “proposes to build a
new web that is free of any centralized parties controlling any part of the
infrastructure.Elastos is building a smart web that consists of [a] blockchain and sidechains” which will form a set of “immutable ledgers.”
This platform will be used for “running smart contracts” and it will also serve
as a “decentralized carrier for all network traffic,” Chen noted.

Support

Each decentralized app will have its own side chain.Having the side chain solution present right off the bat will allow the blockchain network by Elastos to properly scale as the network grows larger and more users come on board.The blockchain network for Elastos is one that is going to support both the main chain and the side chains in order to help create a more efficient environment for the development and smooth running of decentralized applications.

Transactions

Elastos is a new Internet technology that is revolutionizing online security and smart technology.

How Do I buy ELA?

First, you must get hold of Bitcoin, Ethereum or USD Tether through a broker.This will depend on your jurisdiction to what avenues are available.Following this, you can sign up and purchase ELA on four primary exchanges, Huobi Global,  Kucoin, Bittrex Global and Uniswap.

How do I buy Elastos?

It is not possible to buy all cryptocurrencies with U.S.dollars.Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S.dollars using Coinbase or BlockFi.Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Elastos.

How do I mine Elastos?

Elastos and other
SHA-256
coins can typically only be mined profitably with a piece of specialized mining hardware called an ASIC, which stands for application-specific integrated circuit.Major manufacturers of ASICs include BitMain (AntMiner), Microbt (Whatsminer), and Canaan (AvalonMiner).ASIC hardware can be purchased directly from the manufacturer or from resellers on Amazon and eBay.

How does Elastos work?

Elastos operates in an isolated environment called a virtual machine that runs on elastos runtime.Its is a lightweight operating system kept in a little box.To penetrate the system, an attacker has to create their own box and connect to the user’s data.

How does Elastos work?

Besides giving you full ownership of your digital assets, Elastos ensures that you don’t have to (or can’t) access the Internet when running DApps.Instead, all DApps run on the Smart Web.This separation protects you from malware and other digital attacks that expose you to data and/or content theft.

How Does Elastos Work?

Elastos Smart Web ecosystem is composed of four pillars: Elastos Blockchain, Elastos Runtime, Elastos Carrier, and Elastos Software Development Kit (SDK).

How does it work?

Elastos is built off of four pillars: its blockchain and smart contracts, Carrier, Runtime, and Software Development Kit.Its blockchain gives everything within its ecosystem (devices, assets, individuals, web sites) a unique ID to establish trust between users.With unique IDs, assets cannot be copied and reproduced freely.The Carrier is a network for direct peer to peer activity.The Runtime is an operating system that runs applications and digital assets without a third party.Runtime prevents malicious third party attacks and malware from interfering with digital assets.The Software Development Kit is essentially a digital toolbox for developers to use to create apps and assets within the Elastos ecosystem.

How Is the Elastos Network Secured?

When it comes to the security on the Elastos network, all of the communication on the network is encrypted and authorized by blockchain IDs.These IDs in turn determine how the data is processed and who has access to it.Through this system, only the users can choose if they want to sell their data or preserve their privacy.Through a combination of the Elastos Runtime, DApps are provided with trusted network communication.

How Many Elastos (ELA) Coins Are There in Circulation?

Elastos has a maximum supply of 28,220,000 ELA coins.

How much is there?

Elastos will issue a scarce amount of tokens.Elastos currently has a total circulating supply of 23 million ELA.To compensate for the natural loss of tokens, such as users losing their wallets, as well as to keep up with slight inflation, the amount of ELA in circulation will increase annually at a fixed issuence rate of 1.32 million ELA per year.ELA holders can stake their coins with supernodes and earn roughly 5% interest per year ROI.Please see our how to stake guide further down the page.

How to buy Elastos (ELA) on SimpleSwap?

The SimpleSwap team has rethought the process of cryptocurrency exchange to make it simple, safe and comfortable.

Waar kan ik Elastos het best bewaren?

Cryptocurrencies kunnen altijd op meerdere plaatsen bewaard worden.Je kunt ervoor kiezen dit op een software wallet, hardware wallet of exchange wallet (niet aan te raden) te doen.Wij leggen meer uit over onze keuzes hiervoor op deze pagina.

Wat is Elastos?

Elastos lijkt een stap verder te gaan dan Bitcoin en Ethereum.Bitcoin is namelijk ontworpen als een betrouwbaar publiek grootboek, terwijl Ethereum daar een stapje bovenop doet met de zogeheette ‘smart contracts’.Hierdoor hoeven mensen en bedrijven zich geen (lees: minder) zorgen meer te maken dat iemand zijn afspraken in een contract niet nakomt.Elastos gaat hier een stap verder met een eigen blockchain, waarin niet alleen smart contracts gebruikt worden, maar ook digitale producten een eigenaar krijgen op de blockchain.

Wat vinden wij van Elastos?

Persoonlijk denken wij dat dit bedrijf nog enorme groeipotentie heeft.Met een werkend product zijn zij al veel verder dan een hoop andere projecten.Het team straalt vertrouwen uit met hun ervaring en goede adviseurs.Ook de recent gedeelde Main Net Development update ziet er veelbelovend uit en laat zien dat er hard achter de schermen gesleuteld wordt.Ook het delegated proof of stake consensus is inmiddels live, waarmee token holders nog eens extra Elastos kunnen verdienen.

What coins are similar to Elastos?

The following coins use Elastos’s
SHA-256
algorithm and proof-type: DeFiChain, MATH, Props Token, eXPerience Chain, OTOCASH, Eureka Coin, ZelaaPayAE, 1Million Token, TCASH, GoldFund, Ubricoin, EveriToken, Martkist, Okschain and CoinUs.

What do investment analysts think about Elastos?

Weiss Research, an investment research firm that rates cryptocurrencies, has given Elastos an overall rating of “D-“, a technology and adoption rating of “E+”, and a market performance rating of “B-“.

What do you think about the Elastos today?

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What hashing algorithm does Elastos use?

Elastos is a coin that uses the
SHA-256
algorithm.

What Is an Operating System?

You might not know it, but you rely on an operating system (OS) on a regular basis.

What Is ELA token?

ELA is the currency of the Elastos Smart Web.It is used for investing in digital assets, trading, paying for the fees and so on.33 million ELA have been minted in the Genesis block.

What is ela?

The Elastos Coin, or ELA, is the intrinsic coin on the Elastos blockchain.It can be used for trading, investing in digital assets, paying for blockchain processing fees and so on.ELA is the basic unit.In addition, to pay respect to the cryptocurrency torchbearer Satoshi Nakamoto, Elastos uses Satoshi ELA (Sela) as the minimum currency unit for ELA.1 SELA is equivalent to 0.00000001 ELA.

What Is Elastos (ELA)?

Elastos aims to be a blockchain-powered version of the internet.The project originates all the way back to the year 2000; however, the current version that is based on blockchain technology and has been in active development by Elastos was founded in June of 2017.

What is Elastos?

Elastos is an environment where decentralized applications are detached from the internet while also permitting full scalability to millions of users.Elastos enables the generation of wealth through ownership and exchange of your data and digital assets.

What is Elastos?

Elastos is a blockchain-powered Internet in which you have complete control of your digital assets.As a creator, this includes your books, movies, games, etc.Or even as an average user, your data.

What is Elastos?

Elastos is a blockchain-powered operating system for the SmartWeb.ELA is the intrinsic token of the Elastos blockchain.It can be used for trading, investing in digital assets, and paying for blockchain processing fees.

What is its solution?

Create a fast and secure network for Dapps and scarce digital assets.

What is the Reddit page for Elastos?

The official Reddit community (subreddit) for Elastos is r/Elastos.

What is the value of Elastos?

One Elastos (ELA) is currently worth $8.25 on major cryptocurrency exchanges.You can also exchange one Elastos for 0.00015255 bitcoin(s) on major exchanges.The value (or market capitalization) of all available Elastos in U.S.dollars is $158.19 million.

What Makes Elastos Unique?

Elastos has four pillars that enable network separation as well as platform flexibility.These are blockchain, runtime, carrier and software development kit or SDK.

Where can I get Elastos wallet?

Elastos produces its own wallet software that is available for download on its website, which allows you to store Elastos on your computer.For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X.If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

Who Are the Founders of Elastos?

When it comes to the founders of Elastos, the project originated in the year 2000 when founder Rong Chen worked on operating systems at Microsoft Research.He returned to China to develop his own vision, an operating system designed for the entire web.

History of Elastos

In 2017, the blockchain technology was integrated into elastos, enabling the development of the Smart Web.

In 2019, the Elastos iterated on its interoperability plans through the development of sidechains and smart contracts compatible with both Ethereum and NEO.