Elastos

Elastos (ELA) is a blockchain-powered internet platform that aims to create a secure, decentralized web where digital assets and data are protected. The project was conceptualized in 2000 by Rong Chen, a visionary with a deep background in software engineering, during his tenure at Microsoft. Chen’s ambition was to architect a safer, web-oriented operating system that would fundamentally change how applications interact with the internet, aiming to eliminate direct internet access and thereby reducing the risk of malware attacks.

In 2017, Chen collaborated with Feng Han, a scholar with significant influence in blockchain research and education, to officially launch Elastos. The Elastos Foundation was established in June 2017, marking the formal inception of the project with the goal of integrating blockchain technology to realize Chen’s vision of a secure, decentralized web.

The token sale of Elastos took place from January 2 to 23, 2018, and the project raised $94.1 million USD, including $57 million during the pre-sale. Payments were accepted in both BTC and NEO. On January 25, 2018, Elastos announced the successful completion of the third and final round of the token sale, collecting 2,500 BTC and distributing 2 million ELA.

Elastos officially launched on exchanges on February 1, 2018, with an initial price of $38. The price reached an all-time high of $89.19 on February 23, before falling to an all-time low of $18 on July 30.

In 2021, Elastos introduced BeL2, a Layer 2 scaling solution that leverages SmartWeb technology to enhance Bitcoin transactions, showcasing its commitment to innovation and its role in the future of decentralized applications. Today, Elastos continues to evolve, backed by a team of over 50 professionals and partnerships with entities like Bitmain and Tsinghua Science Park, driving forward Chen’s original mission for a redefined internet experience.

Elastos (ELA) is a cryptocurrency project that aims to create a blockchain-powered version of the internet. It integrates blockchain technology with a suite of reimagined platform components to produce a modern internet. Here's how it works:

Elastos capitalizes on the security of Bitcoin by using merged mining. This means that Elastos piggybacks on the work done by Bitcoin miners, inheriting Bitcoin’s unparalleled security attributes without directly competing for mining resources. This approach ensures high security without additional energy requirements, making it an eco-conscious blockchain design.

Elastos is a fully-fledged operating system for decentralized applications (dApps), secured by a blockchain layer. This allows for a fortified environment for running dApps, differentiating it significantly from competitors.

The ELA token powers the Elastos ecosystem. It covers transaction fees, including smart contracts and asset registrations, ensuring network security and efficiency. ELA also fuels a decentralized economy in Elastos, enabling direct trade of digital assets and services, cutting out middlemen. Additionally, it rewards participants, including miners who secure the network via merge mining with Bitcoin, enhancing security and sustainability.

Holding ELA grants governance rights, allowing stakeholders to vote on network decisions through the Cyber Republic, promoting community-driven development. ELA is essential for using dApps on Elastos, providing access to a broad range of services and expanding the ecosystem’s functionality.

Elastos is building a network of dApps that are powered by blockchain technology but do not have to run on the blockchain itself. Instead, these dApps are accessible via users' operating systems (Android, iOS, or PC). This approach prevents them from being exposed to malware, hacks, and data leaks.

Elastos Runtime is an operating system that prevents applications and services from directly accessing the internet. Elastos Carrier is a completely decentralized peer-to-peer platform. The Elastos Software Development Kit (SDK) allows dApps to access their IDs and Elastos Carrier services on the Smart Web.

Elastos offers several benefits, including the ability to run dApps without internet access, ensuring full ownership over digital assets. It also provides a decentralized ID system for users and digital assets, a decentralized data storage service, and a suite of features through its app, including a Super-Wallet and smart contract operations.

Overall, Elastos is a unique project that combines the security of Bitcoin with its own decentralized operating system and ecosystem, aiming to create a new, blockchain-powered version of the internet.

The strengths of the Elastos (ELA) token include:

• Security: ELA is used to secure the BeL2 network through staking, ensuring the integrity of the SmartWeb ecosystem.
• Utility: ELA is a utility token that supports various functions within the Elastos ecosystem, such as staking, voting, and gas for transactions.
• Interoperability: ELA enables interoperability between different blockchain projects and decentralized applications (dApps), allowing them to interact and share the same digital identity.
• Decentralized Governance: ELA is used for voting in the Cyber Republic DAO, which allows community members to participate in decision-making and fund projects.
• Financial Opportunities: ELA creates financial opportunities for both content creators and consumers, incentivizing more people to use the Elastos platform.
• Digital Ownership: ELA supports the concept of digital ownership, allowing users to control and manage their digital assets and identities securely.
• Multi-Chain Support: ELA is used across multiple chains, supporting various services such as smart contracts, decentralized identifiers, and more.

These strengths highlight ELA's role in powering the Elastos ecosystem and its potential to revolutionize the way we interact with digital content and identities.

Elastos (ELA) carries several financial risks that investors should consider.

InvestorsObserver has given Elastos a medium risk/reward score, indicating that the risks associated with investing in ELA are moderate. This score is based on the proprietary system that gauges how much a coin can be manipulated by analyzing the amount of money it takes to shift its price over a 24-hour period, along with recent changes in volume and market capitalization.

Trading in ELA, like any other cryptocurrency, involves a high degree of risk. Market fluctuations can result in significant losses, and investors should be cautious when engaging in trading activities.

Elastos, as a cryptocurrency, is subject to market volatility. Its price can fluctuate rapidly, making it challenging for investors to predict its performance. This volatility can lead to significant losses if not managed properly.

Elastos is not available for purchase on all exchanges, with some jurisdictions like the USA and Canada prohibiting its trading. Regulatory changes or restrictions can impact the availability and value of ELA, posing a risk to investors.

While Elastos has implemented various security measures such as merge mining with Bitcoin and the BPoS validator system, there is still a risk of security breaches or attacks that could compromise the network and impact the value of ELA.

Elastos' economic model, although designed to mirror Bitcoin's disinflationary ethos, is not immune to economic downturns or changes in market sentiment. The fixed maximum supply and halving cycles can also impact the coin's value if not managed effectively.

Investing in ELA carries inherent risks, including the potential for significant losses if the project does not meet its goals or if market conditions deteriorate. Investors should thoroughly research and understand the project before making investment decisions.

In summary, Elastos (ELA) carries a range of financial risks, including market volatility, regulatory restrictions, security breaches, economic downturns, and investment risks. Investors should carefully assess these risks before making investment decisions.

• Rong Chen: Chairman and founder of Elastos, with a background as a senior software engineer at Microsoft. He developed the philosophy for applications and services to operate without connecting directly to the Internet, which forms the basis for the Elastos Smart Web.
• Sunny Feng Han: Co-founder of Elastos, with a PhD in Physics from Tsinghua University. He is also a visiting scholar and research associate at Columbia University and an advisor at Huawei Central Institute.
• Jihan Wu: Advisor to Elastos, CEO of Bitmain, and a significant investor in the project.
• Hongfei Da: Advisor to Elastos, founder and CEO of NEO, and a strategic partner in the development of the Elastos blockchain.
• Runde Wang: Advisor to Elastos, founder of Cooix, and a key contributor to the project’s development.