What is Elastos (ELA)?
Elastos aims to create a blockchain-powered decentralized internet that grants users total control of their digital assets. Elastos uses the internet as a layer for the running of DApps and Apps.
Elastos was first established about 18 years ago and held its first campaign in 2003 by creating a smartphone. The second campaign took place in 2012, where an OS was designed for industrial IOT devices. To put it simply, this over-the-internet decentralized system makes use of the blockchain to authenticate user IDs, applications and machines. The Foxcon Group and other powerful groups have supported the open-source system with over 200 million RMB of funding because of their belief in the project.
How Does Elastos (ELA) Work?
Elastos not only provides users full ownership of digital assets, but it also ensures they don’t have to be on the internet when running DApps. To execute this, it runs all DApps on the Smart Web. You get several benefits from this separation, such as protection from malware and other digital attacks that lead to theft of data or content.
In addition, the platform is mobile-friendly and allows you to run network DApps on virtually all operating systems which include PC, Android, iOS, etc. The infrastructure that makes this possible is explained as follows:
The Four Pillars
There are four pillars in Elastos that enable network separation and flexibility of the platform. They include the Blockchain, Runtime, Carrier, and the Software Development Kit (SDK).
App functionality in the Elastos Blockchain is separated into the mainchain and sidechains running each application. Basic transactions and transfer payments are handled by the main chain while DApp smart contracts are executed by the sidechain.
There are quite a few advantages to the sidechain. As a client, the consensus mechanism of each sidechain can be customized and you can distribute sidechain tokens as well. In addition to that, tokens can be transferred across sidechains and also across the mainchain.
DApp platforms typically execute smart contracts and run associated applications right on the blockchain. However, when you try using a DApp on a mobile device, this strategy might be problematic. Elastos runs DApps with runtime environments while the blockchain is used to enable smart contracts.
The Elastos Carrier is the decentralized peer-to-peer internet service of the project, It is not that different from other decentralized internet projects in that you can rent computational power and storage capabilities to other users. The carrier is actually the foundation of the network’s DApps.
Software Development Kit (SDK)
The Elastos Software development kit (SDK) connects applications to the smart web. This greatly benefits non-Elastos apps. With the SDK, these applications are able to receive their ID and access the Smart Web without needing the Elastos virtual machine.
Elastos (ELA) Will Be Listing On Atomars
Elastos (ELA) has announced that it will be listing on Atomars on October 25th with the trading pairs ELA/BTC and ELA/ETH.
Atomars is a new digital assets trading platform in the cryptocurrency marketplace that is currently bridging the gap between fiat and cryptocurrencies. The Atomars platform is a fast, safe, secure and user-friendly platform that seeks to make trading easy for everyone. You can find any of the major cryptocurrencies such as Bitcoin, Ethereum, Litecoin, DASH, USDT and more on the platform. Their web and mobile apps make it easy and fun to trade on the go.