Review on Elastos by francis fernandez

Name: Elastos
Item: Elastos
Rating: 5

October 19, 2020

Elatos: connecting the internet with blockchain technology for a reliable and secure network

Elastos is a decentralized platform that integrates a set of tools for the development of a modern and secure internet based on blockchain technology.
Digital currency:
The platform has its native currency known by its acronym ELA, which is in charge of executing the operations carried out on the network; which is compatible with the Ethereum ERC-20 token for making use of its technology.
How Elatos works:
Elastos makes use of the internet to develop a base structure that separates network users from computer applications. In such a way, it secures the network against malicious attacks by preventing applications from linking directly to it.
In this sense, the Elastos platform has partnered with other side blockchains to build an additional security shell for its network.
Elastos works as a comprehensive ecosystem connecting community, blockchain technology, and a set of decentralized network servers.
Within the Elastos ecosystem there are several applications of great utility and use for its users, such as:
• Elastos BizFramework: aimed at trade organizations.
• Elastos DID: decentralized identification use application.
• Elastos Hive
Mining and consensus protocol:
The platform operates under the peer to peer (P2P) mechanism for secure connection within blockchain technology.
Elastos uses a mixed consensus protocol combining AuxPow and DPoS.
The network operates under a decentralized consensus with community and council governance.
Furthermore, due to its side chains it can design and execute highly robust smart contracts (500-1500 + TPS) based on Ethereum technology.
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