Elastos (ELA)
Elastos is an innovative public blockchain project designed to establish a modern internet infrastructure that inherently safeguards privacy and digital asset ownership. It is recognized as the first internet operating system that utilizes the internet as a foundational infrastructure layer rather than an application. This system allows users to access decentralized applications (dApps) without requiring internet connectivity.
Overview
Elastos functions as a blockchain-driven internet where users maintain full control over their digital assets, establishing the necessary infrastructure for contemporary internet services and applications. Unlike traditional blockchain projects, Elastos operates as a network operating system powered by blockchain technology, addressing the trilemma of security, scalability, and decentralization. It collaborates with other blockchains to form an ecosystem enabling decentralized applications to run directly on devices via a decentralized peer-to-peer network. This approach enhances security by isolating applications from network access, thus preventing viruses and attacks.
| Ticker | ELA |
| Category | Smart Contract Platform |
| Website | https://elastos.info/ |
| @ElastosInfo | |
| Telegram | elastosgroup |
| https://www.reddit.com/r/Elastos/ | |
| Contract Addresses | |
|---|---|
| ethereum | 0xe6...67 Copied! |
| huobi-token | 0xa1...5cCopied! |
Elastos separates network communication from application computing, creating a decentralized smart web that leverages blockchain technology for digital asset ownership and management through smart contracts. Its operating system can be installed on any smart device worldwide, linking them into a global supercomputer with a unified operating system for the entire network.
Company and history
History
Elastos was developed by the China-based Elastos Foundation Ltd., founded by Rong Chen, a former Microsoft senior officer, and Professor Sunny Feng Han in 2017. The organization is registered in Singapore with a main office in Shanghai, China, and employs between 51 to 200 people. The Elastos journey began in 2000 when Rong Chen left Microsoft and returned to China. By 2007, he completed the kernel and graphics, building a smartphone using the Elastos operating system. In 2009, China Unicom utilized Elastos middleware as a phone operating system framework. By 2013, Elastos had become an open-source project, receiving substantial investment from Foxconn to develop a distributed industrial Internet of Things and smart home network operating system. In 2017, the Elastos Foundation was established to evolve the project into a blockchain-driven internet initiative, aiming to create a new digital smart economy model.
Elastos Smart Web
In 2017, blockchain technology was integrated into Elastos, leading to the development of the Elastos Smart Web, composed of four key components: Elastos Blockchain, Elastos Runtime, Elastos Carrier, and Elastos SDK.
Elastos Blockchain
Elastos aims to create a decentralized smart web where each device, individual, website, and digital asset has a trustworthy ID. The Elastos blockchain technology establishes a trust zone for the entire network operating system, facilitating a smart economy and a healthy decentralized application environment through main and sidechain solutions. Applications can create customizable sidechains with different consensus mechanisms and native tokens for asset transfers across chains.
Structure and mining
The Elastos blockchain shares its structure with Bitcoin, including block authentication requirements. It introduces sidechain design features to support dApps, with the main chain providing infrastructure and asset transfer support. The consensus mechanism combines AuxPoW and DPoS, enabling merged mining with Bitcoin to enhance efficiency and trust across multiple chains. The mining rewards are distributed among AuxPoW, DPoS, Ecosystem Application Rewards, and Foundation Development. The native currency of Elastos, ELA, is used for trading, investing, and paying for blockchain processing fees.
Elastos Runtime
Elastos addresses the challenges of running dApps on mobile devices by using runtime environments to execute them, while still leveraging blockchain for smart contracts. The Elastos Runtime is a lightweight operating system that prevents direct internet access, running atop user device operating systems like Android, iOS, Microsoft Windows, and Ubuntu. It supports traditional programming languages and frameworks, ensuring apps run efficiently without accessing users’ digital assets.
Elastos Carrier
Elastos Carrier is a decentralized peer-to-peer internet service allowing nodes to establish direct connections, maximizing network capacity. The Carrier offers services like decentralized domain names, computation, and storage while supporting dApp development. Users benefit from privacy protection and can earn rewards by renting out their equipment.
Elastos Development Kit
The Elastos SDK connects applications to the Smart Web, enabling non-Elastos apps to access the Smart Web and store data in Elastos cloud storage without using the Elastos virtual machine.
Elastos Sidechains
Elastos employs sidechains to scale its blockchain system, supporting applications with high IOPS. Sidechains operate independently from the main chain, handling specific transaction types and executing smart contracts. This structure enhances scalability and allows developers to create customized sidechains with dedicated TPS.
Smart contracts
Elastos limits smart contract deployment on the main chain to avoid burdening nodes with constant updates. Instead, smart contracts are delegated to sidechains, allowing each to design its functionality independently.
Tokenomics
The Elastos token (ELA) serves as the intrinsic currency on the blockchain and can be divided into smaller units called Sela. The total supply of ELA is 33,000,000. It is traded on popular cryptocurrency exchanges such as KuCoin, Bittrex, LBank, Huobi, and CoinEx.
Token distribution
ELA tokens are distributed for ecosystem development, angel investors, crowdfunding, and the Elastos Foundation.
Fundraising
Elastos initially received funding from Foxconn and raised a significant amount through an Initial Coin Offering (ICO) in 2018, accepting payments in Bitcoin and NEO.
Elastos wallets
ELA tokens can be stored in various wallets, including the Elastos web wallet, Elastos wallet for Android and iOS, and Elephant wallet. These wallets offer different functionalities and support for other cryptocurrencies, integrating DID authorization and providing APIs for developers.
Elastos Hive
Elastos Hive is a decentralized data storage service infrastructure that enables dApps to store data with decentralized characteristics. It utilizes IPFS and IPFS-cluster for data storage, supporting distributed user data access.
ElastOS
ElastOS is a container providing a reliable environment for Elastos dApps, integrating all Elastos services into a single mobile application available on Android and iOS. Developers benefit from using a unified set of runtime APIs and can run smart contracts and access dApps through ElastOS.
Cyber Republic
Cyber Republic (CR) is the Elastos community platform, consisting of ELA token holders, Elastos Foundation members, ecosystem partners, and contributors to the technology and community. It operates on the Cyber Republic Consensus (CRC), providing a consensus-based governance model for the Elastos platform and ecosystem.
Team
Elastos employs 51-200 team members working in various teams. Notable team members include Rong Chen (Director, Elastos Foundation), Feng Han (Director, Elastos Foundation), Ben Lee (Operations Lead), among others. These individuals contribute to diverse areas such as blockchain, carrier, runtime, development, and communication.