Elastos Price

Elastos (ELA) is a blockchain project that aims to build a secure and decentralized version of the internet. It focuses on giving users control over their digital assets like data, apps, and content, rather than relying on centralized platforms. 

The Elastos project aims to solve problems related to data privacy, ownership, and security by integrating blockchain technology into its platform, known as the Elastos SmartWeb. With Elastos, you can securely run decentralized applications (dApps) and manage digital assets without being directly connected to the internet, reducing the risk of cyberattacks.

The native token, ELA, is used for transactions, staking, and securing the network. Developers can build dApps on Elastos, and users can participate in the ecosystem by managing their assets through the Essentials wallet, which also supports decentralized IDs and governance features​.

Elastos (ELA) works by creating a decentralized internet where you have full control over your data and digital assets. Instead of relying on centralized servers, Elastos uses blockchain technology to secure your interactions. It has a mainchain and sidechains, allowing developers to create dApps that run on custom sidechains, improving efficiency.

The native token, ELA, is used for transactions, staking, and rewarding participants. It integrates with Bitcoin for enhanced security through merged mining. This means Elastos benefits from Bitcoin’s hashing power without extra energy costs. Additionally, Elastos provides decentralized IDs (DIDs) to protect your digital identity and data.

Elastos was founded in 2017 by Rong Chen with the vision to create a decentralized internet where users have full control over their digital assets and data. 

The Elastos Foundation, a non-profit organization, oversees the project’s development. Rong Chen, who previously worked at Microsoft, co-founded the foundation alongside Feng Han. Their goal is to build an infrastructure where dApps and digital assets can thrive securely without relying on centralized servers.

Elastos officially launched its blockchain in early 2018, using a hybrid consensus model that combines Bitcoin’s security with Elastos' decentralized ecosystem. Key milestones on the roadmap include the introduction of merge mining with Bitcoin, the development of sidechains for scalability, and innovations like the Cyber Republic, a decentralized governance platform for community decision-making.

Elastos (ELA) is the native token of the Elastos ecosystem, used for multiple functions within its decentralized internet platform. You can use ELA to pay for transaction fees, secure the network, and interact with dApps. 

It is also used for storing information on Elastos' decentralized identity (DID) sidechain and for updating identity data. Additionally, you can stake ELA to earn rewards by participating in the network's governance and running nodes. The token plays a crucial role in enabling secure transactions and supporting the growth of decentralized services across the Elastos SmartWeb ecosystem. 

You can also trade Elastos coin against other cryptos listed on the KuCoin Spot Market based on your investment goals and risk tolerance. After doing your own research, you can buy, sell, or HODL $ELA in your portfolio.

The tokenomics of Elastos (ELA) revolve around its capped supply of 28.22 million tokens, with a halving schedule similar to Bitcoin's, occurring every four years. This scarcity model reduces the inflation rate of ELA over time. ELA is merge-mined with Bitcoin, meaning Bitcoin miners can secure both networks simultaneously without additional energy use, enhancing Elastos's security.