Elastos is a project with a very particular purpose, specifically the creation of a new internet. In other words, Elastos is the primary Internet operating system that desires to build a blockchain-based decentralized Internet. Elastos also utilizes the Internet as a base on which DAPPs and APPs are operated.
Story and Concept of Elastos
The project is headed by Rong Chen, a longtime Microsoft employee. The Elastos Foundation and the core team are established in China. The idea is to create an Internet without basic servers, the so-called Web 3.0. In this new Internet, digital items get different owners. They are no longer arbitrarily copiable, as you would expect from classical data, but are unique.
The Elastos has three separate repositories for each section: Elastos.OS, Elastos.RT and Elastos.NET. Elastos was first built 18 years ago, with its first crusade in 2003 when they built a smartphone; and the second crusade was in 2012 which involved the plan an OS for modern IOT devices and mobile device.
Cryptocurrency, Blockchain and Smart Contracts
To show ownership, Elastos uses blockchains. In its modern concept, the system has a main chain with an unlimited number of DPoS sidechains supporting smart contracts. The main chain saves its status in the Bitcoin Blockchain (AuxPoW) and thus reaches the same security level.
Elastos Carrier is a decentralized p2p network protocol. It ensures that the data is decentralized and retrievable. Central servers for the provision of files should be made redundant. In its basic concept, the carrier is already working and is already being used, for example, for the connectivity of the Elastos TV Box, which was launched in China last autumn.
Elastos runtime environment (Elastos Runtime)
Elastos is developing its own virtual machine (VM) on which the DApps will run in the future. This brings several advantages. The DApps are platform-independent and can be run on Linux, MAC, Windows, etc. In addition, the copying of files is made impossible because they are not stored locally, but loaded, decrypted and played in real-time. In addition, the system offers a high level of protection against malicious software.
Elastos Software Development Kit (SDK)
With this tool, developers can easily access the resources of the Elastos ecosystem and develop applications. The largest trading volume of the Elastos token is currently being created on the crypto exchanges: LBank, CoinEgg, Huobi Global and KuCoin. As Wallet, it is useful to use the Webwallet of Elastos.
Elastos is an extended project with a big vision. Although they have been working on the components for 17 years now and over 4 million lines of source code have already been written, it is still in the early stages of development. The concept of ownership of digital goods has future potential. However, there are also competitors, such as Tron. It will be interesting to see what else you can hear from Elastos.
Instant Crypto Credit Lines™ from only 5.9% APR. Earn up to 8% interest per year on your Stablecoins, USD, EUR & GBP. $100 million custodial insurance.
Trading Bitcoin is too complicated?
We highly recommend our Crypto-Starter-Kit to you!
Follow us on Social Media and subscribe to our free crypto newsletter!
Diskutiere mit uns!
This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)
Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
You might also like
More from Education
Guestarticle by Cryptopolitan. Bitcoin bloggers add fascination, fear, and hype while giving hope in a market that is seen as risky, …
CoinGecko - the crypto analytics and aggregator platform recently released the fact sheet for the first quarter (Q1) of 2020, …