As per the latest data there are around 5000 blockchain/ICO Projects currently in the crypto world. Most of them are trying change your life from the way you Bank, how you transact business or manage assets, to the way you use your machines, vote, rent a car, and even prove who you are. While most of them are putting their efforts to built new application , only a handful of them are trying to improve the base layer infrastructure to all of these blockchain projects — the Internet . Elastos is one among them.
To define Elastos which is currently trading in worlds leading exchange Huobi , we can very simply say that it is a decentralized system on the internet which makes use of blockchain technology in order to verify the identities of users, applications and machines .
As per the Whitepaper
Elastos aims to create a new kind of Internet, powered by blockchain technology. On this new Internet, people will be able to own digital assets and generate wealth from them. Today, there is a seemingly infinite supply of digital books, movies, music and games. But people do not necessarily own their digital property. You can purchase a digital book, for example, but you can’t sell it to anyone else. So, do you really own it? Elastos wants to make digital assets scarce, identifiable and tradable. Property rights pave the way for wealth creation, and Elastos intends to build a new World Wide Web that respects those rights." -
Recently Elastos Founder and Chairman Rong Chen was featured in Huobi Talk – in this interview he discusses the importance of the main features of Elastos (such as Dapps) and the significance and innovative scope of the Elastos project as a whole.
Rong Chen who has more than 34 years of OS coding experience calls himself as one among the Oldest generation of System Programmers .He was recently in the news for running his candidacy for Huobi Superhero Project (to act as leader in the development of Huobi Chain) . In his interview he provided more insights of Elastos Project to host Mr. Dennis Jacob.
During the talk he explained that the basic design of Elastos Project has four main components . The Blockchain, Runtime, Carrier, and Software Development Kit (SDK)
Elastos Blockchain
The Elastos Blockchain separates app functionality between the main chain and sidechains for each application. The main chain takes care of basic transactions and transfer payments while each sidechain executes the dapps’ smart contracts. .
Elastos Runtime
Elastos Runtime gives you the flexibility to run dapps outside of the Elastos operating system. The network includes runtime environments for Android, iOS, Windows, and Ubuntu Linux. Even though the dapps run on these operating systems, they don’t have access to your digital assets, preserving your ownership.
Elastos Carrier
The Elastos Carrier is the project’s decentralized peer-to-peer Internet service. Similar to other decentralized Internet projects, you’re able to rent out your computational power and storage capabilities to other users.This pillar is the foundation of the network’s dapps
Elastos Software Development Kit (SDK)
The Elastos SDK connects applications to the Smart Web, which is especially beneficial for non-Elastos apps. Using the SDK, these applications can receive their ID and access the Smart Web without having to use the Elastos virtual machine.
When the host asked him "What are the three main advantage of Elastos Project", He laid out three important advantage as per him
- Border less Internet without any censership
- To keep track of Provenance
- To create Scarcity .
He was more emphasizing on the concept of Scarcity which he felt will act as the backbone of future smart economy . He feels scarcity of digital assets is what will provide them with value. He further explain the concept of a film that everyone wants to see but there are only 100,000 copies created on the network, the demand will be so high that consumers could sell the content for a higher price than what they originally purchased the asset for. Fraudulent copies will be impossible, rewarding content creators and promoting creativity and production.
The host was also curious why he developed his own blockchain rather than depending upon an existing blockchain like Ethereum
His views can be summarized with the below pic
The Elastos token is ELA which will run on its own native blockchain. The token will be used to purchase assets, trade and even pay for the transaction fees on the platform. Looking at Elastos , it most directly competes with Ethereum. What makes it better than Ethereum is while ETH use a single chain to executes smart contracts, Elastos will be using main chain/sidechain to execute the same.
The below given is my view about the coin. DYOR.
Currently ELA is trading in the range of 22-25 USD. In the month of Feb - March the price of ELA saw a sharp hike due to the rumor of getting listed in another Top Exchange. The price rose to around $90. ie 3x of the current price. At the moment, ELA is only listed on Huobi with USDT, ETH and BTC pairs which makes it more attractive to own. Other factors which i feel makes its attractive are like Bitcoin it has a fixed supply of 33 Million coins only which makes it more scarcity . With a $7 million changing hands in the last 24-hour trading window at a price of around $25, the coin is set for a major breakout once it get listed to more Exchanges in future. Also With recent announcement of upcoming Elastos Ecosystem Airdrop Mechanism , Elastos future holds more promises.
If you wish to own this amazing coin Click here !!!!
Huobi Talk Airdrop for Insider interview with Rong Chen
There is a golden opportunity to participate in 4,460 USDT Airdrop . All you have to do is watch and share Huobi Talk interview with Rong Chen before Monday, 9 July, 3pm (GMT+8),
Tto participate follow the below steps
Step 1: Subscribe to Huobi Pro on Youtube
Step 2: Simply share the interview feature by clicking the Youtube “share button” above on Twitter, Facebook and Reddit, together with your reflection, thoughts and summary on the feature. Remember to hashtag #HuobiTalk so that they can track who are the top 3 sharers from each platform!
Step 3: Input your particulars and details in the google form - https://goo.gl/forms/zoY36kQ9IMavMFeE2
The top 3 sharers from Facebook (most number of shares), Twitter (most number of RTs) and top 3 Reddit posters (most number of comments) will share the prize pool of 86.10 ELA – meaning the top 3 sharers from each platform will walk away with 6.37 ELA worth over 198 USDT* each!
What’s more – ALL participants who share the interview feature will get to share the participation prize pool of 129.15 ELA worth over 2,678 USDT*!
Each person will earn tokens split proportionally to the credit pool. (E.g. you share on 3 platforms and get 3 credits. Total pool from this activity was 30 credits from participants. You get 3/30 = 10% of the prize pool )
Winners will be announced within 3 working days after the end of the campaign on Monday, 9 July, 3pm (GMT+8) on Huobi Pro Medium and social media channels.
Best of luck