Elastos (ELA) is a new entrant to the cryptocurrency market seeking to offer practical decentralized internet. It is an internet OS that uses the blockchain concept. The system uses the usual internet as a simple basic layer that separates communication from computer applications to protect users from malware, bots and cyber-attacks.
With many alternative coins missing the user experience bit in their systems, Elastos (ELA) is focusing on giving the user a compact system that allows them access various applications through a wide range of operating systems. It is also among the first coins to be Know Your Customer (KYC) compliant.
How Does Elastos (ELA) Work?
To start with Elastos is set to become the first ecosystem that powers a smart economy. This is through developing a new World Wide Web for DApp development. This will be incredibly safe and smart to make it the Internet of Wealth.
The Elastos Platform is made up of three components according to its whitepaper;
Elastos OS: This is a function that will support Elastos DApps for ease of connecting to the Elastos internet interface. This enables the system ride on IOT devices including internet enabled mobile gadgets.
Elastos Internet: The network is set to power its own internet supported by blockchain. This way, hacking cases will become a thing of the past. Due to the immutability nature of the systems, data and information manipulation will not be possible.
Elastos Runtime: this is a unique environment that will deter other OS from limiting the Elastos operations. Simply put, you do not have to use other operating systems like Windows, iOS and android to connect to the Elastos DApps. With the Elastos Runtime, you can access any application using mobile device.
With the increasing instances of hacks and malware attacks, Elastos has you covered; with the Elastos carrier, traffic between virtual machines is protected by the system. Your Apps do not access the Elastos network in their naked form; the inbuilt library offers you the end-to end-solutions.
Elastos (ELA) Market Impact
With many internet users shifting from the traditional platforms, Elastos is the possible destination where they can host their digital products. This is a good investment given that the price of the ELA coin is at its lowest. With the market recovering, chances are the prices will not come down any day soon.
The ELA price is skyrocketing and is currently trading at $56.24. This is an impressive surge given that same day last month the coin was going for $27.39 representing a 50% growth. At the time of writing, the coin had recorded positive gains of 9.77% against the USD and 12.76% to BTC.
At the moment, ELA is only listed on Huobi and BCEX with USDT, ETH and BTC pairs only. with a $37.5million changing hands in the last 24-hour trading window, the coin is set for a major breakout once it get listed to Exchanges of repute to give it a global appeal. With support from Da Hong Fei, the NEO founder and Jihan Wu from Bitmain, Elastos (ELA) future is unshakable.
The Future of Elastos (ELA)
For the investor and DApp enthusiast, Elastos (ELA) is a good investment of the future. It runs on the Ethereum ecosystem and utilizes the smart contract but with an “elastic computation” that prevents it from experiencing bottlenecks that have become common to first and second generation cryptocurrencies.
Elastos internet is unlimited and compatible with modern day smartphones and home computers among other devices. This in itself is a god start for mass adoption that will increase the ELA value. The coin sustainability is already cut out and the systems flexibility and extension friendliness makes it the right future economy platform.