- General description
Elastos is an operating system and a new Internet secured by the blockchain. Elastos allows locally ran applications to connect to its new Internet through a new protocol, with encrypted P2P communication, with no possibility of man-in-the-middle attacks. Each Elastos application runs in a sandbox Virtual Machine, from which no data can escape into other parts of the computer, and which is destroyed when application closes. An application can communicate with the outside world only through Elastos. Everything on the Elastos Internet has an ID: a person, a device, a website, a digital asset and other entities. All this allows to avoid security concerns present on the current Internet. Malware won't be able to do as much damage, viruses won't be able to spread, there will be no DNS hacks, while hacks of remote devices, DDOS attacks, and piracy will be hindered. Utilization of sidechains allows for almost infinite scalability. Any existing blockchain can integrate with Elastos to become its friend chain. Elastos will allow Ethereum, Neo, EOS and any other blockchain platform to be accessed by users securely and be connected with other blockchains. Elastos OS can be installed on any devices such as PC, smartphones, and IoT devices.Regulatory compliant smart economy platform: digitized physical assets, digital identity, smart contracts. For now focuses on China.
- Important differentiating features
- Elastos dApps run locally on a device that has Elastos operating system or runtime installed.
- Elastos OS can be installed on any device. This is intended for IoT devices.
- Elastos runtime can be installed on top of popular operating systems: Android, iOS, Windows, Linux. This is intended for PCs and smartphones.
- An Elastos dApp can communicate with dApps on other machines peer to peer, without the blockchain or smart contracts. Only when it's required, transactions or data can be stored on the blockchain, and smart contracts can be executed on the blockchain. Thus, an Elastos dApp is a different kind of decentralized application than in other blockchain platforms. They are the only truly decentralized applications, with no need for a server to host the interface.
- Each dApp runs in a sandbox Virtual Machine, from which no data can escape into other parts of the computer, and which is destroyed when application closes. An application can communicate with the outside world only through Elastos Carrier.
- Elastos can establish trust like no other system due to use of decentralized IDs. There is an ID for everything: a device, a website, an app, a person, a copy of digital asset. (But a person can have multiple IDs and can stay anonymous.) Only when an ID is verified in the system, can an entity do transactions or use a digital asset
- Elastos Carrier is a decentralized peer to peer network that takes over all inbound and outbound traffic of virtual machines. IP addresses are not used in this network. Using the Carrier instead of TCP/IP prevents DDOS and man-in-the-middle attacks. All the traffic is end-to-end encrypted out of the box. This means, for example, that all chat applications on Elastos will have the same privacy protection ability as Telegram, plus they will be truly decentralized and uncensorable. Carrier explained.
- All of the features of Elastos combined allows to avoid security concerns present on the current Internet. Malware won't be able to do as much damage, viruses won't be able to spread, there will be no DNS hacks, while hacks of remote devices, DDOS attacks, and piracy of content will be hindered.
- The Elastos main chain will only be used to register IDs and for transactions of ELA token, while all other activities will be done on sidechains. Such a system allows for almost infinite scalability. Sidechains can have any possible configurations and each dApp can have its own sidechain. Also any existing blockchain can integrate with Elastos to become its friend chain.
- Sidechains can interoperate with each other through Elastos, so features like atomic swaps will be possible.
- In the end, Elastos will be able to communicate with all smart contract platforms' VMs. Also, local dApps can be written in all traditional programming languages and popular frameworks.
- Elastos SDK allows any existing application to add functionality that enables it to connect into the Elastos Internet. But, such applications won't receive the full benefits of security of Elastos, because even if connection goes though the Elastos Carrier, they won't be running in an Elastos sandbox VM.
- User Experience of dApps on Elastos is the same as of ordinary apps. Users won’t necessarily realize they are using a blockchain.
- Scarce resellable copies of digital content (or Digital Assets, as they are called officially). Software, games, movies, images, music and other content can be made to have a limited amount of copies. Each copy has an owner and can be resold by user at will. A smart contract can send a fee to creators each time an asset is resold. Those digital assets can only be executed in Elastos runtime, by an owner of ID currently assosiated with the copy. It cannot be copied to anywhere else. In this system, piracy of software and games won’t be possible, while piracy of other digital content will only be possible by recording the image and sound via external devices.
- There will be a separate, decentralized domain naming system for websites on the Elastos Internet. Because each website will have an ID, nothing like DNS hacks will happen in this system. Those websites can be accessed through an Elastos browser called Trinity, or other browsers that integrate the functionality.
- Decentralized storage. User and Dapps will able to choose where to store data: blockchain, IPFS, Dropbox, and other options.
- Digital Identity with Know Your Customer functionality which is very important for businesses and compliance.
- Ability to roll back the chain with consensus, avoiding situations like the DAO.
- Businesses can have private blockchains connected to NEO blockchain.
- Turing-complete? ?
- Achievable functionality ?
Elastos will be able to work with any smart contracts. This, and local apps built on a general purpose OS, allow for any functionalityTuring-complete smart contracts allow for any functionality
- Smart Contract languages or API
NEO will support almost all programming languages via a compiler.
- Major weaknesses or concerns
- Circulating supply will increase 3-6 times in the next 3 years.
- Has centralization of control: the foundation selects the nodes. This makes it not censorship-resistant.
- Its success depends on legislation in China.
- Transactions per second capacity
300 tps is what main chain is expected to have. But most transactions will happen on sidechains, which allows for almost infinite scalability. Also many dApps will not use blockchain at all and transact peer to peer.Practical: 1000 tps, Theoretical: 10 000 tps
- Transaction confirmation time ?
~15 sec, no confirmations required
- Deterministic transaction finality ?
No for the main chain, but possible on a sidechain.Yes; the chain can't fork
- Consensus mechanism and security ?
Combination of Delegated Proof of Stake and merged mining with Bitcoin. Miners mine Bitcoin and Elastos at the same time, without increase in energy consumption. Elastos makes full use of Bitcoin hashrate for its security. The merged mining can be extended to sidechains, if they use the same Proof of Work consensus. Otherwise, sidechains can have any consensus mechanism.Delegated Byzantine Fault Tolerance:
Representative nodes are elected by token holders to validate the chain. The mechanism offers quick verification of the transactions, zero risks about the leaking of the transactions, elimination of forks and lessens the risk of any illegal actions. Also energy use is minimal. 2/3 of votes is required to approve current copy of a blockchain.
- Economy ?
4% annual inflation. In the first two years, block rewards will be distributed this way: 30% goes to Elastos Foundation, 35% to Proof of Work miners, 35% to Proof of Stake stakers.
Elastos ecosystem collaboration projects (dapps built on Elastos in collaboration with Elastos) have to lock no less than 2-5% of their project tokens published for converting into $ELA. 20% of the project tokens (converted to $ELA) will be used for Elastos foundation development. 80% of the actual project tokens will be rewards shared by all $ELA holders.
$ELA holders will have first-come buying rights at ICO price of every dApp.Users are rewarded with GAS proportional to their NEO holding, when registration and changing of assets occurs. Rate is around 0.1 GAS per 1 NEO per year. Consensus Nodes will be rewarded with transaction fees.
- Main currency ?
Dapps will be paying in $ELA for the services they'll be using like cloud services, DNS services, acquisition of UUIDs for digital assets, etc. Apps built on elastos can implement their system to process transactions using $ELA.NEO has two currencies: NEO and GAS. NEO gives holders voting rights. GAS is the active currency on the blockchain which will be used to pay transaction fees.
NEO isn't divisible: minimum transfer value is 1.
GAS is divisible.
- Digital assets ?
Sidechains will have digital assets (fungible tokens). These tokens can be traded cross-chain.
Additionally, Elastos has scarce copies of digital content, which are called Digital Assets too.Yes. Among other, digitized physical assets.
- Cost of basic transaction ?
0 for now, will be minimal in the future
- Costs of various actions
Different for each sidechain.Cost of deploying smart contracts: High. It's optimized before being deployed, so that it costs more for deploying and less for users interacting with it.
- Mainnet launch status
Mainnet live since December 23, 2017.Mainnet live since October 2016
- Major upcoming development milestones
The Elastos ID service chain Open Beta will be published open source, supporting multilayered identity verification.
Large-scale applications and projects which dock financial big data services and medical insurance will begin.
The framework for mobile web applications will be published open source, contributing to elastos’ application ecology.
The mining of Elastos Chain and Elastos ID Chain by external nodes will be open and accessible.
- Project history highlights
Elastos started some 18 years ago with its first campaign in 2003 to develop a smartphone from scratch and the second campaign was in 2012 to develop an OS for industrial IOT devices and mobile devices. In 2016, Elastos team started to work on integrating blockchain into Elastos. In May 2017, Elastos Foundation was founded.Project initiated in 2014.
Originally known as Antshares.
- Is blockchain public or private?
- Which actions are permissionless?
Currently only the foundation can decide which nodes are allowed to process transactions.
- Cross-chain interoperability ?
Yes. Sidechains can transact with each other.NeoX is a protocol that implements cross-chain interoperability. NeoX is divided into two parts: "cross-chain assets exchange protocol" and "cross-chain distributed transaction protocol."
- Use of multiple blockchains within one system
Elastos adopts a flexible main chain + side chain structure. The main chain is only responsible for registering and storing IDs and for transactions of $ELA. All other transactions and smart contracts will happen on sidechains. Since there can be an infinite number of sidechains, this system can allow for almost infinite scalability. Sidechains can have any possible configurations and consensus mechanism. Each dApp can optionally have its own sidechain.Decentralized Network Architecture: Businesses can have private blockchains created for them by OnChain. These private blockchains are linked to the NEO blockchain to join the decentralised economy.
- Privacy ?
Privacy option for business through Ontology.
- Governance ?
Treasury with 30% of block reward going to Elastos Foundation. Among other, it will be spent on the Bounty Program.Onchain: NEO token holders will be able to manage the network through voting in the network.
Offchain: NEO Council consists of the founding members of the NEO project, under which the management committee, technical committee and the secretariat, respectively, are responsible for strategic decision-making, technical decision-making and specific implementation. The NEO Council is responsible to the NEO community for the promotion and development of NEO ecosystem as its primary objective.
- Team highlights
50+ team members
Team on the website.
- Advisors highlights
8 advisors, including:
Jihan Wu, CEO at Bitmain
Hongfei Da, Founder and CEO of NEO
- Misc facts
Elastos OS has 10 million lines of code written.Quantum resistant
- Adoption facts, partnerships
Collaboration with China government
Less important partnerships:
- Most similar to
Elastos is unqiue, no other project aims to do the same.
EOS (video comparison) and nOS, which are also blockchain operating systems, but which don't provide an operating enviromnent for local apps or protection from man-in-the-middle attacks.
TRON, Skycoin, Blockstack, Holochain, NKN, which also aim to create new decentralized Internets.
Interoperability platforms like ICON, Wanchain, AION. They don't have most features that Elastos has.
Comparison of Elastos with Ethereum, EOS, Blockstack.
- Most suitable use cases
- A new internet with no malware, viruses, device hacks, man-in-the-middle attacks, DDOS attacks, DNS hacks, piracy of content.
- Secure Internet of Things.
- Automated economy.
- To solve scalability issues of existing blockchain projects. For each dApp on ethereum there can be a fork of ethereum where only this one app is running, so all 15 tps will be reserved just for this dApp. The new sidechain can have any consensus mechanism, but one option available to them will be to depend on the merge mining of Elastos with BTC.
- DApps with user experience similar to WeChat, when user needs to log in once, and inside he gets access to many apps which all use the person's data from the same account.
- Price per unit
- Circulating/ Total/ Max Supply
18072283/ 35939366/ N/A70538831/ 100000000/ 100000000
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