Elastos is a decentralized peer-to-peer economic infrastructure powered by blockchain. It can be used to authenticate digital rights, transfer contracts, turn digital information into assets and will serve as a new smarter and safer web. It was founded in 2017 by Rong Chen and has built the necessary architecture to help power the future of Web3.
The Elastos design philosophy is modular in nature and includes components (blockchain, identity, storage, and communication) that when combined enable developers to build truly unstoppable applications.
Our platform strives to enhance the scalability and flexbility that other networks often lack, optimized for the performance of dApps deployed on our multichain architecture.
We created Elastos to build accessible and open-source services on a global scale, allowing developers to create Web3 applications where users can truly own their own personal data and information.
To understand how we're making a difference in Web3, it's critical to learn about the key features that set Elastos apart from the rest.
We're a platform run by the community where anyone can help build and contribute to the underlying code, ensuring an inclusive Web3 environment.
- Bitcoin Hashrate
The Elastos Mainchain is partially secured by the Bitcoin hashrate through a process known as merge-mining. Miners can participate in the block production process without deploying any additional resources.
- Elastos Smart Contract Chain (ESC)
Smart contracts written in the Solidity language can be developed and deployed on our sidechains. ESC is an EVM (Ethereum Virtual Machine) compatible network that utilizes an efficient and environmentally BPoS (Bonded Proof of Stake) consensus mechanism
- Elastos Identity Chain (EID)
EID provides a decentralized solution for the provision of digital identities. It supports the issuance of W3C compliant decentralized identifiers (DIDs) for users and applications alike.
- Data Ownership
By leveraging DIDs, users can create their very own storage vaults that enable them to curate which applications can access their data. This means they have complete control of their information and can choose who they want to (and don't want to) share it with.
Our supernode network can be adapted to provide security and consensus to numerous sidechains, enabling the network to scale horizontally with ease.