What is Elastos?
A general overview:
Elastos provides full lifecycle (development, government, and operation) of blockchain applications or dApps. It fosters a new generation of platform that establish trust, accountability and transparency in operation and governance. Elastos uses blockchain architecture that is built to enable vertical and horizontal scaling of dApps on a native token called ELA.
There are several features that makes Elastos unique as compared to other blockchain platforms, such as EOS, NEO and Ethereum. Rather than relying on a single main-chain, Elastos can extend the throughput infinitely with flexible side-chain solution. Elastos' side-chains are separate blockchains that attache to Elastos' main-chain, allowing interchangeability of assets. Another unique feature is Elastos' runtime sandboxed closed environment which delivers the trust function of the main-chain to a user’s application (like a cell phone, laptop, etc). It runs on top of existing OS, such as Android, iOS, Linux, etc.
Although Elastos' architecture allows for many different use cases, notable near to intermediate use case of Elastos is point-to-point conversation or point-to-point transfer through decentralized P2P architecture in which digital assets, such as electronic books, games, video player, can be transmitted using a trustful environment.
Another use case of Elastos is assets storage. It provides a decentralized browser based on distributed storage and supply applications depending on browser. It combines encrypted, distributed storage and blockchain ID to make sure all the data belongs to the owner. Users can have ID for their digital assets, which guarantees the ownership of those digital contents. Based on the clarification of ownership, digital contents can be traded.
In the next part, I delve deeper into Elastos' white paper, it's token economy and its price prediction.
