WHAT IS ELASTOS?
Elastos is a service based on a connection of many computers (which is called a blockchain) that allows you to keep your important information (which includes your personal data, movies and books) private and safe, and allows you to have full control over them. It’s like a smarter version of the internet that is powered by blockchain technology.
HOW DOES ELASTOS WORK?
Elastos uses cool applications that are built on a connection of many computers (which is called a blockchain) to solve the problems that other blockchains that use similar apps have.
These cool applications are called DApps, and Elastos is where these apps are run from.
Elastos keeps your important stuff safe by making sure you can’t use the regular internet while using these special apps (called DApps).
But since these apps need the internet to work, Elastos makes them run on something called the Smart Web. The smart web is a better version of the internet that helps Elastos protect you from all the people that want your information and that want to steal your creations. These apps can run on all our devices and operating systems.
Elastos uses four special features that allow it to work properly and protect our information well. These features are:
Blockchain
Runtime
Carrier
Software development kit(SDK)
BLOCKCHAIN:
Elastos uses a special type of blockchain that is divided into a main chain and a side chain. The main chain does all the big work like transferring payments, while the side chain helps the DApps to work.
RUNTIME:
Regular DApps don’t have side chains, so they work directly from their main chain, which is their only chain. This is all well and good until we try to use them on our phones. Elastos however uses what is known as a runtime environment. This allows Elastos DApps to run on even phones, which is great!
CARRIER
Elastos also has a special feature called Elastos Carrier. This is their special internet service that works between two or more users. With this feature, you’re able to rent out your computer power and storage to other people.
SOFTWARE DEVELOPMENT KIT(SDK)
This is a very special feature that Elastos offers. It allows applications to connect to the special smart web. This is very important for apps that are not run on the elastos blockchain.
ELASTOS TOKEN
This is the currency used on the Elastos network. They are like the money used in this city called Elastos. You can use it to pay transaction fees or trading. There were only 33 million Elastos tokens, and they were locked up for the original investors. They earned the investors 4-6% interest depending on how long they were locked up for.
That’s Elastos in simple English! I hope you enjoyed the post, and more importantly, I hope you now understand what Elastos is!
