Elastos (ELA) is a company which is aiming to construct a better internet using Blockchain technology so users can own digital assets and is able to generate ‘real’ wealth from such assets. Elastos believes there is a huge problem with ebooks, digital games, and other digital products as people don’t really own them but only own the right to use the product for example you own a game on steam such as No Man’s Sky you can play it as much as you like but can sell the game onto other people as you only have a right to use the product. The white paper for Elastos can be viewed at https://bit.ly/2LQy7Hs (Online PDF).
Overall Elastos has a great concept which even me myself would find this very useful as I have a ton of online games that I “own” once I have finished them I have no way to sell them on to recover some costs that the game originally cost. However, Elastos should focus on providing more in-depth details on the security of the Network to ensure users feel secure and can have a sense of trust. Otherwise, I see great potential from this company definitely one to look out for on the market it could take your coins place on the market soon.
Elastos has only been around since the early 2000 but in July 2017 they focused on Blockchain Technology for their company and for well not even a year and they have already managed to make it into the top one hundred according to Coinmarketcap. The current aim for Elastos for the rest of 2018 is to allow for scaling of applications and projects as well as mining on the Elastos Chain through external nodes which will be open and accessible at all times. To be fair Elastos has done extremely well in the market for such a short time they have made more of a name for themselves in this period since the establishment of the company when it didn’t rely on Blockchain Technology.
The Carrier pillar is Elastos’s decentralized Internet service which will allow for users to rent out computational power and storage to other users worldwide. Finally, the Software Development Kit (SDK) allows for applications to be able to connect to the Smart Web, this is key as applications can receive their ID and access the Smart Web without struggles such as using an Elastos Virtual Machine as this would take up time and require more power to run applications.
Elastos has four key pillars that allow for network separation and platform flexibility, these pillars are.
Blockchain, Runtime, Carrier and Software Development Kit (SDK).
The Blockchain pillar separates application functionality between chains for each application, the main chain is basically there to take care of transactions on the Network while the side chains basically execute DApps contracts for the Network. The Runtime pillar allows for users to be able to run DApps outside of the Elastos operating system itself, the Network supports Android, IOS, Windows and Ubuntu Linux.
