What is Elastos?

Elastos (ELA) is a distinctive platform that aims to establish a blockchain-powered version of the internet. It is designed to address the limitations of Ethereum and other DApp platforms, particularly in terms of scalability and flexibility. Elastos provides a platform for decentralized applications (DApps) that is optimized for mobile and compatible with every operating system. The platform's Smart Web feature is designed to protect users from malware and other digital threats, ensuring data security. Elastos also allows users to have full ownership over their digital assets, eliminating the need to access the internet to run DApps.

How does Elastos work?

Elastos operates on four pillars: blockchain, runtime, carrier, and software development kit (SDK). The blockchain separates app functionality between the main chain and side chains for each individual application. The runtime allows DApps to run outside of the Elastos operating system. The carrier is a peer-to-peer decentralized internet service where users can rent out their computational power and storage to others. The SDK connects applications to the Smart Web, benefiting non-Elastos applications. All communication on the Elastos network is encrypted and authorized by blockchain IDs, ensuring secure and private data processing.

What are the potential use cases for Elastos?

Elastos offers a wide range of potential use cases. It can be used to create a new kind of internet, where digital assets are scarce, identifiable, and tradable. This can pave the way for a new kind of digital space. For instance, authors can decide to have a limited number of their digital books in circulation on the Smart Web, creating scarcity and enabling unique digital ownership. Filmmakers can raise funds for their movies by issuing their tokens and writing smart contracts that share a portion of the viewing fee with token holders. Elastos also enables consumers to participate in the digital economy, allowing them to sell limited edition game apps or digital books to others, depending on market demand.

What is the history of Elastos?

Elastos was conceived in 2000 by Rong Chen, a former senior software engineer at Microsoft. He envisioned an operating system designed for the entire web. However, it was not until 2017, with the emergence of blockchain technology, that his vision was fully realized. Rong, along with co-founder Feng Han, incorporated blockchain into Elastos to complete his vision. The Elastos Foundation was established, and the development of the Elastos platform began. Since then, Elastos has been engaging with new and existing DApp projects through its Cyber Republic initiative. The platform has received support from organizations such as the Tsinghua Science Park, the TD-SCDMA Industrial Alliance, and the Foxconn Group.