Elastos (ELA) bills itself as the ‘first completely safe and decentralized infrastructure for the internet’. Its vision is to create a blockchain-powered decentralized internet that enables digital rights and secure transactions. Elastos uses the Internet as the base-layer infrastructure and separates network communications from application computing. It prohibits apps from directly accessing the network so as to prevent malicious attacks. Elastos is merged mined with Bitcoin to optimize energy efficiency and leverage the security of the Bitcoin network for Elastos applications. Sidechains are also included as an additional layer of security.
What is Elastos?
Elastos is a blockchain-powered Internet in which you have complete control of your digital assets. As a creator, this includes your books, movies, games, etc. Or even as an average user, your data.
The project’s team believes that Ethereum and other DApp platforms face limitations at scale. They argue that they’re great for smart contracts but are slow, inflexible, and inconvenient for full applications. On a fundamental level, Elastos is a platform for decentralized apps (DApps) that solves these issues.
How does Elastos work?
Besides giving you full ownership of your digital assets, Elastos ensures that you don’t have to (or can’t) access the Internet when running DApps. Instead, all DApps run on the Smart Web. This separation protects you from malware and other digital attacks that expose you to data and/or content theft.
Additionally, the platform is mobile-friendly. And you can run network DApps on nearly every operating system (Android, iOS, PC, etc.). Let’s go over the infrastructure making this happen.
How do I buy cryptocurrency?
While some cryptocurrencies, including bitcoin, are available for purchase with U.S. dollars, others require that you pay with bitcoin or another cryptocurrency.
To buy cryptocurrencies, you’ll need a “wallet,” an online app that can hold your currency. Generally, you create an account on an exchange, and then you can transfer real money to buy cryptocurrencies such as bitcoin or ethereum.
Coinbase is one popular cryptocurrency trading exchange where you can create both a wallet and buy and sell bitcoin and other cryptocurrencies.