Will Elastic (XEL) Win the Decentralized Supercomputer War?

Today there’s roughly 5 billion smartphones, 1.5 billion computers, and 0.5 billion tablets. That’s 7 billion computing devices.

But here’s the thing, like many assets, the computing resources of these devices often go unused, or at the very least, not used 100% of the time.

That means there’s a large source of untapped computing power.

Several cryptocurrency projects are trying to tap into this computing power, including Elastic.

Elastic is a decentralized supercomputer.

People that need large amounts of computation power could use Elastic. Then they don’t have to rent an expensive commercial cloud computing solution.

Here’s how it works. Tasks can be submitted to the Elastic Network along with a certain amount of Elastic Coins (XEL). Other users can offer their spare processing power to contribute to the calculation of the tasks and earn Elastic Coins in exchange.

Users can model their computational resources need by using the software developer kit.

There is one drawback however. You have to use Elastic’s own programming language called Elastic PL. It’s designed to be safe and secure without harming other machines.

You can watch developer Evil-Knievel use Elastic PL here.

I think this will be a drawback as it’s not going to be easy to use for the common person.

Elastic didn’t do a token sale but rather had a donation period that ended in August 2016. In total there are 100 million XEL with about 82 million in circulation right now.

This looks like a legit project but Elastic has a lot of competition. Golem Network, SONM, MaidSafeCoin, and iEx.ec are all doing something similar.

Also, the entire team is anonymous. Not necessarily a bad thing but at some point they need to put a face on the project.

I’m passing on Elastic for now.

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