As a fan and follower of blockchain projects and technology since mid 2017, I have been tracking various budding projects and platforms that have grown to become powerhouses in the present day with an aim to disrupt the future. Some projects go beyond being mere currencies and aim to be platforms where future DApps can grow and thrive. One of these projects is Elastos whose aim is to transform the internet into an interconnected web of DApps. They refer to their vision as ‘a new kind of internet powered by blockchain’. They call this the SmartWeb

Elastos - SmartWeb Powered by Blockchain - An Overview

Elastos has an incredible ambitious vision - to reshape the internet allowing it to become the base layer infrastructure on top which DApps can be built. Using the technological superiority of the blockchain, they are working towards creating a safer environment where programs

will only indirectly interact with the internet. This reduces the chances of malicious attacks and instances of data theft.

They also want to make all digital assets scarce, traceable, and identifiable, by issuing unique IDs for everyone and everything in their ecosystem as well as using the blockchain to track ownership of every item. This will help enable wealth generation through ownership and exchange of your data and digital assets. This is a big plus point for me personally, as it completely transforms the way we consume and perceive digital assets. For instance, today, you only buy and read an e-book, but imagine being able to own its rights, or being able to own a music album you buy, then trading and profiting from it. With Elastos, every purchase of a digital item will actually transfer ownership of the item to the buyer, rather than just transferring viewing rights like people normally receive now. This will pave the way for new wealth creation, with every asset becoming a tradable item.

This is the New Kind Of Internet that Elastos envisions and ELA will function as its base currency. You can track and trade ELA on Huobi Pro by signing up here. It is currently trading at 24.59 USD with a 24-hour volume of 108638 ELA. Elastos is currently ranked 78 on coinmarketcap with a circulating supply of 5,241,952 ELA, total supply of 33,696,461 ELA and and a market cap of $128,690,448 USD.

Elastos is made up of 4 Key Components:

Elastos Blockchain - The foundation of trust for the rest of the ecosystem. The blockchain stores the unique IDs for every user, site, device, and asset in the ecosystem.

Elastos Runtime - A lightweight operating system running on a user’s mobile device or computer that serves as a middleman between applications and the internet, providing a protective layer preventing viruses and other malware getting through.

Elastos Carrier - A decentralised Peer-to-peer platform carrying all network traffic to let apps and virtual machines to communicate.

Elastos SDK - Their Software Development Kit that allows non-Elastos apps to access their services.

Huobi Talk’s In-Depth Interview with Rong Chen, Chairman of Elastos Foundation

On 2nd July, 2018 Rong Chen, Chairman of Elastos Foundation, was hosted on a special edition of Huobi Talk. in the interview with Denis Jacobs, Rong Chen shared his views on Elastos and their plans and developments for the future, towards their vision of a SmartWeb powered by Blockchain. You can watch the full interview here: