Elastos PriceELA

What is Elastos (ELA)?

Elastos (ELA) is a decentralized internet infrastructure project designed to deliver true digital ownership and privacy to users, secured by Bitcoin's hashpower. It positions itself as a blockchain-powered internet framework and markets itself as the "first completely safe and decentralized infrastructure for the internet," a claim made by the project rather than an independently verified fact. The project separates network communications from application computing, preventing apps from directly accessing the network in order to reduce exposure to malicious attacks. Elastos uses the internet as its base-layer infrastructure while relying on sidechains and merged mining with Bitcoin for additional security. The mainchain launched in December 2017 as a Proof of Work UTXO chain, and ELA powers fees, staking, validator registration, and governance. According to an official Elastos notice, the ELA mainchain is under an active inflation exploit; BPoS has been paused and merge-miners were instructed to stop ELA AuxPoW immediately. With a maximum supply of 28,220,000 ELA and a circulating supply of roughly 23.08 million ELA, the project continues to develop its SmartWeb ecosystem and the BeL2 Bitcoin Layer 2 network.

Key Specifications & Tokenomics

• Name: Elastos
• Ticker / Symbol: ELA
• Consensus: Proof of Work (PoW), merged-mined with Bitcoin; BPoS is currently paused per an official notice
• Category / Tags: DePIN, Distributed Computing, Ethereum Ecosystem, Smart contract platforms
• Founded: 2017, building on a vision from 2000
• Mainchain Launch: December 2017 (project materials); some market data providers list a start date of 2018-01-31.
• Maximum Supply: 28,220,000 ELA
• Total Supply: 26.23M ELA
• Circulating Supply: 23.08M ELA
• Circulating Supply Percentage: 81.82% of max supply
• Decimals: 8
• Whitepaper: https://elastos.net/assets/elastoswhitepaperen.pdf (version 0.2, covering strategic goals and technology roadmaps)
• Contract Address: 0xe6fd...431867 (as listed on CoinMarketCap; the full address should be confirmed on the official explorer blockchain.elastos.io)
• Official Website: https://elastos.org/
• Additional Website: https://elastos.net/
• Blockchain Explorer: https://blockchain.elastos.io/
• Source Code: GitHub

Who created Elastos?

Elastos was conceived in 2000 by Rong Chen, a former senior software engineer at Microsoft who envisioned an operating system designed for the entire web. He initiated the project after returning to China following his tenure at Microsoft Research, and he served as Founder and Visionary from 2017 to 2023. In 2017, Dr. Feng Han joined forces with Rong Chen to integrate blockchain technology into the project, advancing its vision, and he serves as Co-Founder and Foundation Manager. Dr. Jay Zou is listed as Chief Technology Officer. Sash Mitchell, founder of Elacity, has described Elastos as a powerful vehicle for data ownership and digital participation. Advisors are listed in the Coin Bureau review of Elastos.

How does Elastos work?

Elastos is built on four pillars that enable network separation and platform flexibility: the Blockchain, which separates app functionality between the main chain and side chains for each individual application; the Elastos Runtime; the Elastos Carrier; and the Software Development Kit, the flagship product of the Elastos Smartweb that integrates the entire decentralized ecosystem into a single application. The Elastos Runtime is one of the four pillars; the project's architecture documentation at docs.elastos.net describes the component map and inter-component communication of the multi-chain platform. The mainchain is a Bitcoin-secured UTXO chain that functions as Elastos' trust zone, where ELA powers fees, staking, validator registration, and governance. The Elastos main chain launched in December 2017 as a Proof of Work mechanism mimicking the Bitcoin blockchain. Elastos states that over 50% of Bitcoin's hash power has protected its network through merged mining, a claim the project uses to market itself as the "BTC Queen"; however, an official notice has instructed merge-miners to stop ELA AuxPoW immediately, so this security assumption should not be treated as currently guaranteed. Merged mining optimizes energy efficiency while leveraging Bitcoin network security. Sidechains provide an additional layer of security.

What makes Elastos unique and valuable?

Elastos distinguishes itself through merged mining with Bitcoin. The project markets this merged-mining setup as giving it high security and credibility, and the community calls it the "BTC Queen"; readers should weigh this against the official notice of an active inflation exploit on the mainchain. The project separates network communications from application computing and prohibits apps from directly accessing the network, which helps prevent malicious attacks. Its four-pillar architecture allows both network separation and platform flexibility. The introduction of BeL2, a Layer 2 solution leveraging SmartWeb technology, extends the efficiency and scalability of the Bitcoin network through smart contracts and aims to address Bitcoin's limitations in transaction speed, smart contract complexity, and privacy issues. BeL2 promises improved scalability, smart contract capabilities, and enhanced security through Zero-Knowledge Proofs. Elastos states that BeL2 is intended to release the liquidity of hundreds of billions of dollars in staked Bitcoin assets; this is the project's own stated goal, not a measured figure.

What is Elastos used for?

ELA enables the creation and management of Decentralized IDs (DIDs), allowing users to own and control their digital identity, with every DID on Elastos anchored to the chain. ELA powers fees, staking, validator registration, and governance on the Bitcoin-secured UTXO mainchain, which serves as Elastos' trust zone. The token is integral to the mainchain's operation and its governance mechanism, where validators are registered and staking is part of the process. Through the Elastos Smartweb, the ecosystem integrates decentralized applications and services into a single application, while BeL2 extends Bitcoin's functionality through smart contracts. ELA has a maximum supply of 28,220,000 and 8 decimals; emission and halving details are published on the project's ELA utility page (elastos.net/ela-utility).

How Is the Elastos ecosystem developing?

The Elastos ecosystem is centered on the Elastos Smartweb, the flagship product that integrates the entire decentralized ecosystem into a single application, and on BeL2, the Bitcoin Layer 2 network built with SmartWeb technology. Elacity, referenced through its founder Sash Mitchell, is part of the ecosystem, and Decentralized IDs anchored to the chain provide digital identity infrastructure. Sidechains separate app functionality between the main chain and side chains for each individual application. Cyber Republic is referenced as part of the Elastos / BeL2 / Cyber Republic SmartWeb vision. Elastos was described in a community video about eight years ago as a G3 member alongside NEO and Bitmain; this is a historical description, not a current status. Community videos include "Rong Chen: The Man Building the New Internet" and "Elastos | G3 Member w/ NEO and Bitmain."

How to mine Elastos?

Elastos uses a Proof of Work consensus mechanism that mimics the Bitcoin blockchain, and the main chain is merged-mined with Bitcoin. Merged mining allows miners to secure both networks simultaneously, optimizing energy efficiency while leveraging Bitcoin's hashpower. Elastos states that over 50% of Bitcoin's hash power has protected its network, though an official notice has instructed merge-miners to stop ELA AuxPoW immediately. Beyond mining, ELA supports staking and validator registration on the mainchain, which are part of the governance mechanism; BPoS is currently paused per an official notice. The mainchain operates as a Bitcoin-secured UTXO chain where ELA powers fees, staking, validator registration, and governance. Emission schedules, circulation metrics, and halving information are documented on the Elastos ELA Utility and supply pages.

How to keep your Elastos Coin safe?

Keeping ELA safe begins with understanding that the mainchain serves as Elastos' trust zone and is secured by Bitcoin's hashpower through merged mining, with sidechains adding an additional layer of security. Users should rely on official resources, including the official website and the blockchain explorer, to verify network activity and token information. Because ELA enables Decentralized IDs that are anchored to the chain, protecting the credentials associated with those identities is essential for maintaining control over digital identity. As with any cryptocurrency, users should be cautious of unverified sources, avoid sharing private keys or seed phrases, and confirm contract details through official channels before interacting with tokens or applications. Security should be assessed through verifiable facts rather than scores: users can review the project's published audit reports and official notices, and should note that an official Elastos notice reports an active inflation exploit on the ELA mainchain with BPoS paused. Community-generated trading ideas typically include disclaimers stating they are not financial advice.

Risks and uncertainties

ELA is subject to price volatility, and its value can change significantly over short periods. Regulatory treatment of cryptocurrencies varies by jurisdiction and may change, which can affect access to the token and related services. Technical risks include smart contract vulnerabilities and the active inflation exploit reported on the ELA mainchain, with BPoS paused and merge-miners instructed to stop ELA AuxPoW. Statements about security, scalability, and liquidity in this article should be read as project claims where attributed, not as guarantees.