Elastos ICO: The Internet on Blockchain
The Blockchain is a versatile and useful innovation whose functions the tech-world is continuing to explore. As such, altcoins that came after Bitcoin have continued to diversify the use of this innovation in many ways. Read here to know more about the Elastos ICO.
What is Elastos ICO?
Elastos ICO is a self-sufficient ecosystem which gives users complete control over their digital assets. This blockchain-powered Internet can facilitate the control over basic components like data for and average user or books and games for creators.
How does the platform work? Elastos deploys a system called the Smart Web as an alternative to the internet when running dApps. This separation of content from the internet protects against malware and digital attacks that could compromise your content.
Indeed, Elastos is mobile-friendly by design. This is because a user can be able to run dApps on virtually all operating systems with Android and iOS functioning seamlessly.
The Elastos ICO was from the Jan 2 to 23 2018. This was vital as it injected much-needed capital to the platform.
The Four Pillars Of Elastos
- Elastos Blockchain– the Elastos blockchain utilizes the main chain and side-chain duality for specific applications. As a result, the main-chain works on basic transactions and money transfer while the side-chain does the execution of smart contracts. Besides, users can customize consensus mechanisms on side-chains and even distribute side-chain tokens.
- Runtime– Notably, Elastos brings an extra level of flexibility, particularly for mobile devices, by running dApps with runtime environments.
- Elastos Carrier– This platform has its own decentralized internet service. Much like other decentralized internet platforms, a user has the capability to rent out their computational power as well as storage space to others.
- Software Development Kit (SDK)-This final component is crucial for connecting apps to the Smart web. This is really important for non-Elastos apps. The SDK enables applications to access the Smart web using a unique ID.
Elastos Token (ELA)
This token serves as the currency for the Elastos ecosystem. The token can be used to trade and pay fees among other uses. At the moment, you can only buy it on the Huobi exchange. This is because, the world’s largest exchange, Binance delisted Elastos under controversial circumstances in March. The Elastos Binance connection has never materialized.
The development team has created an official Elastos wallet. The wallet is online but is mobile responsive. Accordingly, this wallet is convenient for short term storage.
In conclusion, Elastos ICO improves the blockchain experience for many. By adding flexibility and scalability, the platform lives up to the improvement ideals of innovation. The future is definitely exciting.