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Elastos

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Smart Web Powered by Blockchain

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Smart contract blockchain

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Team:

Rong Chen - Project founder and planner

Feng Han - Co-founder; board member

Yipeng Su - Board Member; Chief Engineer

Hu Hongjie - Chief Secretary

Fay Li - Chief Marketing Officer

Heng Li - HR Director

Elastos is dedicated to creating a brand-new virtual, digital smart-economic zone based on the traditional basis of the Internet.

The design philosophy of elastos originated from Chen Rong, the former senior software engineer at Microsoft. He strived to develop the world’s first Internet Operating System in 2000, and put forward the basic idea that there is “no need for computation if online and no need to be online if computing .” It was subsequently developed as an open-source operating system, with its source code reaching 10 million lines (github.com/elastos). In 2017, the blockchain technology was integrated into elastos, enabling the development of the Smart Web.

The Smart Web can be explained by its four pillars:

  1. Blockchain & Smart Contract. A blockchain enables the establishment of trust on the operating system. The elastos main chain will share computing power with Bitcoin miners via merged mining, guaranteeing a reliable Proof-of-Work mechanism. Meanwhile, elastos will also extend and provide services for third-party applications through side chains. It will also increase computing capabilities through cluster services in order to prevent high computing loads on the main chain. In order to achieve “trustable computation”, elastos supports Smart Contract which run on side chains. Side-chain Smart Contract will make flexible blockchain’s ability. However, elastos will restrict the range of smart contract applications very strictly, ensuring that elastos will be used for trustable computation of data asseys.
  2. elastos Carrier. The elastos Carrier is a completely decentralized P2P network platform. It is very important infrastructure, and supports elastos for DApp development and operation.
  3. elastos Runtime. The elastos Runtime runs on top of its customer’s device, ensuring a reliable runtime environment. Developers will be able to build an elastos DApp with a digital currency broadcasting feature. The elastos VM makes sure that all listed cryptocurrencies are under the control of several blockchains which provide users with digital contents for consumption and investment.
  4. elastos SDK . Conventional applications can extend their capability through an SDK. The SDK includes modules for authentication, trust records, and other typical blockchain functions.

Expert Review

TokenTops
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4.4 out of 5

Elastos is a Smart Web Powered by Blockchain. Elastos is trying to re-invent the Internet by utilizing blockchain technology, concentrating all operations on its project. On the one hand, this contradicts the idea of decentralization, but on the other hand we have to admit that companies that will develop technologies for interaction between users (both people and machines) are needed. So the value of Elastos will be ensured even, even if the global idea fails, but protocols and technologies will be developed. There are prototypes of some products of the future system, legal entity, detailed White Paper and a big team.

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