Elastos Price Chart Update [ELA]

Introducing Elastos: Revolutionizing the Internet

Elastos is a cutting-edge blockchain-powered technology that aims to transform the landscape of the Internet. Unlike the current Internet, where individuals do not truly own their digital assets, Elastos enables ownership and wealth generation from digital property. By creating scarcity, traceability, and tradability of digital assets, Elastos aims to establish a new World Wide Web that upholds property rights and fosters wealth creation.

Empowering Individuals through Ownership of Digital Assets

One of the core objectives of Elastos is to create an Internet where users can access articles, movies, and games directly, eliminating the need for intermediary platforms or media players. By leveraging blockchain technology, Elastos assigns unique IDs to digital content, enabling accurate identification of asset ownership. For instance, filmmakers can track the number of views their movies receive, enhancing transparency and accountability. This powerful combination of Elastos and blockchain establishes a trusted and secure Internet of Wealth.

A Decentralized Application (Dapp) Platform

Elastos also functions as a decentralized application platform operating on a peer-to-peer network without centralized control. Users can seamlessly access these Dapps on their mobile phones, without the need to switch operating systems. Unlike the traditional Internet that focuses on information, Elastos builds a Web of apps where clicking a URL leads to code. Elastos tokens serve as the foundational currency within this unique economic zone, known as the Elastos Web.

Paving the Way for a New Internet: Industry Sponsorships and Commitment to Open-Source Development

As open-source software, Elastos has garnered significant support from industry giants such as the Tsinghua Science Park, the TD-SCDMA Industrial Alliance, and the Foxconn Group, with an impressive funding of over 200 million RMB. With a vast repository of published source code, including four million lines of original code, Elastos is dedicated to propelling the development of a new Internet.

Understanding the Inner Workings of Elastos

Elastos developers cite several limitations of the current Ethereum blockchain platform, rendering it unsuitable for running distributed applications. These limitations include low storage capacity and speed, inability to fix faults in smart contracts once activated, high usage and storage costs, lack of flexibility and interoperability between the Ethereum Virtual Machine and the blockchain, and insufficient security measures.

Addressing Limitations: Main Chain and Sidechains

To overcome these challenges, Elastos (ELA) aims to establish a main chain for storing transaction data and sidechains for executing smart contracts and distributed applications. By running distributed applications on the Elastos Runtime, which ensures secure data transfer through an identity confirmation channel, the system enhances security and avoids bottlenecks on the blockchain network. Elastos' technology platform comprises four key components:

• Elastos Blockchain: The main chain, in conjunction with the bitcoin blockchain, allows miners to earn both BTC and ELA. It serves as a storage for identifiers, while distributed applications run on the sub-chain.
• Elastos Carrier: This component offers decentralized services, including domain name provisioning, computing power, and storage capacity.
• Elasto Operating System: It facilitates the operation of a C++ virtual machine and supports C/C++, Java, and HTML5/JS. This component ensures seamless interoperability within the ecosystem, enabling interaction with the blockchain to validate identifiers.
• Elastos Runtime: This environment is compatible with various operating systems, such as Android, iOS, and Windows. Elastos Dapps can be executed on any operating system, simplifying adoption for developers.