Elastos (ELA) - Flying under the radar, but not for long (From a Reddit writer @stardawg777)
Thanks for one of the Elastos community member on Reddit @stardawg777 who wrote this articals, i copy it here for more of you who like the Elastos project.
The original link is here.
Elastos (ELA) is arguably the biggest coin with the brightest future that no one has heard of. Apart from a recent ad in Times Square.
Elastos has been under the radar, but that is about to change. Elastos was founded in 2000 by Rong Chen and has recently made a blockchain breakthrough.
What is Elastos?
Elastos aims to create a new Internet, powered by blockchain technology. On this new Internet, people will be able to own digital assets and generate wealth from them. Today, there is a seemingly infinite supply of digital books, movies, music and games. But people do not necessarily own their digital property. You can purchase a digital book, for example, but you can’t sell it to anyone else. So, do you really own it? Elastos wants to make digital assets scarce, identifiable and tradable. Property rights pave the way for wealth creation, and Elastos intends to build a new World Wide Web that respects those rights.
Bitcoin = Trustworthy Ledger
Ethereum = Trustworthy Ledger + Smart Contracts
Elastos = Trustworthy Ledger + Smart Contracts + Monetizable Dapps and Digital Assets
Who are Elastos backers/partners?
（The fact is Elastos team has connect and met with a few big companies but still has no official announcement to claims any of the partnership with them yet）
Foxconn (world’s largest electronics manufacturer) https://en.wikipedia.org/wiki/Foxconn: Elastos received a $31 million sponsorship from Foxconn group for R&D https://medium.com/@elastos/an-introduction-to-elastos-fd9af7ac1f3b
SAIC Motor (China’s largest auto manufacturer) https://en.wikipedia.org/wiki/SAIC_Motor: SAIC motor has officially partnered with Elastos to use Elastos’ blockchain technology in the development of autonomous driving technology/smart cars.
Confirmation with news link from Elastos fan twitter: https://twitter.com/elastos_news/status/957263870275461120. The smart car market is projected to be worth trillions of dollars in China within the next 5 years http://markets.businessinsider.com/news/stocks/china-is-preparing-for-a-trillion-dollar-autonomous-driving-revolution-2017-12-1011473377
AVIC (Chinese state owned aerospace/defense company, Fortune 500 company) https://en.wikipedia.org/wiki/Aviation_Industry_Corporation_of_China: https://twitter.com/fayliela/status/956738527210889216, https://twitter.com/fayliela/status/955318127843205120, https://twitter.com/fayliela/status/956776278115344385
Alibaba and Huawei: http://www.nbc-2.com/story/37401108/the-global-listing-of-elastos-chinas-ambitious-blockchain-project
A soon to be named huge gaming company: https://twitter.com/fayliela/status/959909521756848128
Zapya (400 million users, p2p file sharing app): Zapya agrees to build on top of Elastos https://twitter.com/fayliela/status/939068214411067392
What is G3?
Da Hongfei of NEO and Jihan Wu of Bitmain are both early investors and advisors to Elastos. Jihan Wu has committed to redirecting hashing power from Bitcoin mining to Elastos. G3 is a co-operation between NEO, Elastos and Bitmain who share a vision of a decentralized economy and smart web. Key features of the smart web include the virtual machine, runtime environments and trust zone, provided by Elastos and Bitmain, consensus provided by NEO and KYC provided by Ontology.
G3 is meant to cooperate with Chinese government regulations and considering two of the leading figures of Chinese blockchain are involved (Jihan Wu and Da Hongfei), the likelihood that these projects will greatly succeed when the Chinese adopt crypto-friendly regulations is very, very high. China appears poised to change their cryptocurrency regulations soon: http://news.8btc.com/chinese-scholar-china-to-release-new-policy-on-cryptocurrency-and-ico-in-2018
How is the ELA token used?
ELA tokens have a low coin supply, only 33 million in total will ever exist. ELA will be a staking token in later 2018. ELA holders will receive airdrops of all coins created on the Elastos ecosystem which they refer to as ‘sugar dividends’, there are more details to be released on this but further reading can be found in the white paper as well as: https://twitter.com/fayliela/status/959909521756848128, https://medium.com/@elastos/ecosystem-collaboration-governance-reward-mechanism-690d1adf331b
Any tokens generated on Elastos will be required to lock 2-5% of their total token supply in ELA. This is huge considering dApps by companies as massive as Zapya (400m users), Huawei, Alibaba, and the unnamed massive gaming company (as well as more to come which has been hinted at many times by Elastos team) will need to generate their own tokens on Elastos or utilize ELA for transaction fees and creating digital assets on the Elastos blockchain.
Resources
https://medium.com/@elastos/beyond-ethereum-the-future-evolution-of-blockchain-6b9a9c8a9d68
https://coinmarketcap.com/currencies/elastos/
https://www.elastos.org/static/file/elastos_whitepaper_0.2.pdf
Elastos Telegram community
Chinese：https://t.me/elastoscn
English：https://t.me/elastosgroup
news channel: https://t.me/elastos_org
steemit: https://steemit.com/@elastos
Twitter: https://twitter.com/elastos_news
Great article. If you're interested please have a look at my Elastos whitepaper deep-dive.
ELA 2 DA MOON