Gm Champs! It's a new week of possibilities, let's embrace it as
#Elastos is leading the charge๐ฅ. There are lots of developments going on in the Elastos ecosystem! It seems the team doesn't sleep ๐, they keep building ๐ช. Am gonna share just in a brief why I think Elastos is outstanding among other blockchains.
#Elastos emerges as a pioneering platform with a vision and mission to make the internet secure and decentralized Smart Web. Founded in 2017, they combines blockchain with a network operating system to address major issues like data privacy, digital ownership, and scalability. Unlike traditional blockchains which primarily function as ledgers or smart contract platforms, Elastos builds an entire infrastructure for a new internet of value where users truly own and monetize their digital assets.
One of the Elastos standout feature is its hybrid consensus mechanism, known as Elastic Consensus. This system blends Auxiliary Proof-of-Work (AuxPoW), Bonded Proof-of-Stake (BPoS), and Proof of Integrity (PoI).
๐ The AuxPoW enables merged mining with Bitcoin, leveraging on over 50% of Bitcoin's hashpower for unparalleled security without additional energy consumption and this makes Elastos one of the most secure networks in Web3.
๐ The BPoS introduces variable bonding periods for
$ELA tokens (from 10 days to 1,000 days), granting users voting rights and rewards.
Elastos architecture further sets it apart.
#Elastos main chain uses a UTXO (Unspent Transaction Output) model, for superior privacy and security in transactions. Complementing this are sidechains like the Elastos Smart Chain (ESC), which is EVM-compatible for seamless dApp development and DeFi, and the Elastos Identity Chain (EID) for W3C-compliant decentralized identities (DIDs). Token bridging via tools like Elastos Essentials wallet or Glide Finance simplifies movement between networks, enhancing liquidity and usability.
#Elastos itself is a full operating system powering a decentralized economy. Apps run in a closed environment via Elastos Runtime, preventing direct internet access to hacks, viruses, and data exposion. The Elastos Carrier, a p2p network, handles encrypted traffic scalably without central servers, rewarding node contributors with
$ELA tokens. This enables true scarcity for digital assets where creators can limit copies of e-books, music, or NFTs, allowing ownership verification via DIDs and direct monetization through smart contracts and users can resell contents, fostering a global marketplace free from intermediaries.
Don't just sit and watch this movement, it's advisable to be part of it! Follow
@ElastosInfo and stay in the loop! Explore Elastos on
elastos.net, and if you are seeking for the next gem in this crypto space that will really make your bag smile, think and make a research on
$ELA. currently trading on MEXC, Kucoin, Bitget, Coinbase, Uniswap, Gateio.