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 describes its mission as building the first completely safe and decentralized infrastructure for the internet. 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 pure Proof of Work UTXO chain, and ELA powers fees, staking, validator registration, and governance. 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: Pure Proof of Work (PoW), merged-mined with Bitcoin
• Category / Tags: DePIN, Distributed Computing, Ethereum Ecosystem, Smart contract platforms
• Founded: 2017, building on a vision from 2000
• Mainchain Launch: December 2017
• 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
• 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 also listed in third-party reviews.

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 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 pure Proof of Work mechanism mimicking the Bitcoin blockchain, and over 50% of Bitcoin's hash power protects it through merged mining, which 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, with over 50% of Bitcoin's hash power protecting its network, earning it the community nickname "BTC Queen" and giving it extremely high security and credibility. 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, and it aims to release the liquidity of hundreds of billions of dollars in staked Bitcoin assets.

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. Emission schedules and circulation metrics are documented on the Elastos ELA Utility page, and a halving schedule is referenced on the supply page.

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. Elastos is actively searching for both new and existing DApp projects throughout its Cyber ecosystem. The project is also referenced as a G3 member alongside NEO and Bitmain. Community content includes multiple YouTube videos explaining the project and its SmartWeb vision.

How to mine Elastos?

Elastos uses a pure 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, with over 50% of Bitcoin's hash power protecting Elastos. Beyond mining, ELA supports staking and validator registration on the mainchain, which are part of the governance mechanism. 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. A CertiK rating of 3.4 is listed for the project, and community-generated trading ideas typically include disclaimers stating they are not financial advice.