What is Elastos? (ELA)

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

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.

The Elastos TV Box sold over 100k Carrier nodes in August through our partner Shanghai Shijiu TV. “If everything goes well, we are hoping to take half of the Chinese TV box market.” – Yuxin Zhang, Senior Manager of IoT and Smart Devices at Elastos #Elastos $ELA
— Elastos (@ElastosInfo) September 4, 2018

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.

Conclusion

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.