Elastos aims to build not only an internet of value, but an internet that has values. The Elastos team believes that each person should own and control their digital footprint, just like their physical one. There is the idea trough decentralized technologies like blockchain to create an open-source internet infrastructure for decentralized applications (dApps) without the need for websites. The Elastos community is made up of The Elastos Foundation, The Elastos Ecosystem, and Cyber Republic.
Developers are also paying more attention to security issues. To address fundamental flaws in the current internet architecture, Elastos' functionality limits the automated access of applications to the Internet, focusing on preventing DDoS attacks and protecting against the spread of viruses. All of Elastos’ blockchain-based infrastructure leverages its mainchain’s hashpower which is over 50% of Bitcoin’s.
As Elastos is its own protocol and blockchain, the Elastos (ELA) token is actually a native coin and used to pay for gas and services across its multi-chain ecosystem. Elastos uses multiple chains that individually support essential services such as Solidity-based smart contracts, Decentralized Identifiers (DIDs) and more.
The project was founded by Rong Chen, a former senior software engineer at Microsoft. His vision began in the year 2000, as he set out to create a platform in which applications and services can run in a secure and decentralized environment. By delegating the communication layer to a decentralized network that applications could not control arbitrarily he envisioned a safer, more secure internet of trust that would make a future with digital assets and true data ownership possible.
In 2017 with the advent and rise of blockchain technology he quickly realized that it could provide the fundamental security he was searching for, and thus the Elastos blockchain was born. It has now grown into a global project with over 70 contributors distributed over various teams and communities in China and around the world.
To have some ELA in your wallet you just need to follow these simple steps below:
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