Article Summary, Automatically Generated By AI
About Wrapped Elastos
Key Points:
- Elastos aims to be a blockchain-powered version of the internet.
- Founded in 2000, re-established in 2017 with blockchain technology.
- Claims to solve scaling limitations of Ethereum and DApp platforms.
- Allows full ownership of digital assets and runs DApps on the Smart Web.
- Optimized for mobile and compatible with all operating systems.
Founders:
- Rong Chen: founder, senior software engineer at Microsoft (1992-2000), CTO of Kortide (2000-2003), chairman of Elastos Foundation (2017).
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Introducing Wrapped Elastos: A Revolutionary Digital Asset
Introducing Elastos (ELA): A Revolutionary Blockchain Ecosystem
Elastos aspires to revolutionize the internet by harnessing the power of blockchain technology. With its roots tracing back to 2000, the project has undergone significant transformations, culminating in its current incarnation, which has been actively developed by Elastos since its founding in June 2017.
The team behind the project genuinely believes that Ethereum, as well as DApp platforms, are hindered by inherent limitations in terms of scalability. While they excel in facilitating smart contracts, they are plagued by sluggish performance, inflexibility, and inconvenience when it comes to supporting full-fledged applications, according to Elastos. Elastos, a pioneering platform for decentralized applications (DApps), purports to overcome these limitations, thereby unlocking a new era of possibilities.
With Elastos, you not only gain full sovereignty over your digital assets, but also enjoy the freedom to operate decentralized applications (DApps) without relying on internet connectivity. All DApps seamlessly run on the Smart Web, a secure environment designed to shield users from malware and other digital threats that could compromise sensitive data. Furthermore, the platform is meticulously optimized for mobile devices and compatible with every operating system, ensuring effortless access to network DApps.
The Visionary Founders Behind Elastos
At the helm of Elastos stands its visionary founder, Rong Chen, whose journey began in 2000 when he worked on operating systems at Microsoft Research. Later, he returned to China, driven by a bold ambition: to craft an operating system tailored for the entire web.
Rong Chen, a seasoned software engineer, spent eight years at Microsoft from 1992 to 2000, before venturing out to found and serve as CTO of Kortide (Beijing). He later assumed the role of chairman and CEO in 2003. In 2017, he took the reins as chairman of the Elastos Foundation.
As blockchain technology began to revolutionize the world in 2017, Rong collaborated with Elastos co-founder Feng Han to integrate blockchain capabilities, thereby bringing his vision to fruition.
Feng Han’s illustrious career began as a mentor at the esteemed Tsinghua University, followed by a stint as the principal of Yuncol School. In 2017, he co-founded Elastos, and presently, he is the founder of the prestigious MIT IDE Blockchain Pillar and Foundation.
Unveiling the Unparalleled Essence of Elastos
Elastos is founded upon four pillars, which collectively facilitate network separation and platform flexibility. These pillars comprise the blockchain, runtime, carrier, and software development kit (SDK), forming a robust foundation for the ecosystem.
The blockchain architecture elegantly segregates application functionality between the primary chain and auxiliary side chains, thereby catering to the unique requirements of each individual application.
The runtime affords unparalleled flexibility, empowering you to seamlessly execute DApps independently of the Elastos operating system.
In this decentralized internet service, users can monetize their computational power and storage by renting them out to other users in a peer-to-peer manner.
The software development kit seamlessly integrates applications with the Smart Web, thereby extending its benefits to non-Elastos applications.
The elastOS application seamlessly converges the vast expanse of the decentralized ecosystem within a single, intuitive App.
This flagship product of the Elastos Smartweb seamlessly integrates the entirety of the decentralized ecosystem into a single, unified application.
The Circulating Supply of Elastos (ELA) Coins: An Overview
Elastos boasts a capped supply of 28,220,000 ELA coins, thereby ensuring a scarce and coveted digital asset.
It is worth noting that Elastos is actively scouting for innovative DApp projects, both nascent and established, through its pioneering Cyber Republic initiative.
The Elastos Network’s Robust Security Mechanisms
When it comes to security on the Elastos network, all communication is encrypted and authenticated via blockchain IDs. These IDs, in turn, dictate how data is processed and who has access to it. This system empowers users to make informed decisions about their data, choosing whether to monetize it or preserve their privacy. Furthermore, the Elastos Runtime ensures that DApps benefit from trusted network communication, fostering a secure environment.
This signifies that Elastos is a decentralized internet and DApp platform that empowers users with absolute autonomy over their digital assets. It is specifically designed to address the scalability and flexibility limitations of other networks, while being explicitly built to optimize DApp performance.
Where to Acquire Elastos (ELA): A Comprehensive Guide
Presently, ELA is available for purchase on the following esteemed exchanges:
Bittrex, a stalwart in the realm of cryptocurrency exchanges, has established itself as a premier platform for trading a diverse array of digital assets.
Huobi Global, a Pioneering Cryptocurrency Exchange
KuCoin, a prominent cryptocurrency exchange,
If you’re new to the world of cryptocurrency and this is your inaugural purchase, we recommend starting with a comprehensive guide to buying Bitcoin, which can be found here.
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