Elastos is a blockchain-based internet project creating a new smart economy model. Founded by the Elastos Foundation, led by Rong Chen and Feng Han, in 2017.
With the tagline “Welcome to the modern internet”, Elastos’ development covers smart contracts, digital identities and side chains. With the combined help of these features, the team hopes to design the foundation of a new internet, often called Web 3.0, one that is more secure, private and interconnected.
The project’s ELA token is a utility token that is at the heart of this web, used across the dapps, which the team says will be available on both phones and desktops. The four principle elements supporting the development of a new web are the Elastos blockchain, Elastos runtime, Elastos Carrier and Elastos Software Development Kit (SDK). These offer the critical features that underpin a decentralized peer-to-peer internet that supports multiple dapps.
Elastos’ blockchain launched in December 2017. Since its launch, the team has developed and released several features, such as the Elatos browser for iOS, version 5.2 of the Elastos Carrier and the launch of sidechains.
2019 is expected to bring the launch of a sidechain scaling solution. Other upcoming milestones of 2019 include the launch of Cyber Republic, a robust community of a diverse set of individuals that are working together to encourage adoption and build the Elastos ecosystem.