Elastos defines itself as the blockchain version of the Internet. Elastos team claims that Etherum and DApp platforms have limitations in scaling, such as low speed, lack of flexibility, and inconvenience for full applications. Elastos, a platform for decentralized applications, tries to bring solutions for these limitations.
Elastos consists of six components. Any DApp and project can use this series of powerful decentralized services. These components are:
The Elastos Mainchain (blockchain) stores cryptographic proofs. It uses Bitcoin's (BTC) hashrate to secure the entire Elastos ecosystem. The Mainchain is a fully independent blockchain protocol that provides trust to the ecosystem.
We no longer can even imagine living without apps, devices, and services that we use daily. However, the internet is under the control of several giant companies that force users to log in. Therefore, our data and identity are at risk.
Elastos provides Decentralized Identities (DIDs), a universal identity system, which is n open-source and allows enterprises and digital platforms to issue universal digital identities to individuals, applications, and devices on the internet. In other words, users no longer need to trust corporations. Instead, they trust code.
Hive is an innovative architectural model that enables users to own their own data. Using this technology, users can have access to beneficial features such as accessibility, data sandboxing, and Decentralized Identity (DID) integration.
Developers are able to code, implement, and run smart contracts on Ethereum Virtual Machines (EVMs) thanks to Smart Contract Chain (ESC). Smart contracts written using Solidity are executable on the sidechain. In other words, the ESC is a high-performance, scalable smart contract execution solution.
Elastos Carrier is the conveyer of all the data transferred between participants in the Elastos ecosystem. In other words, it can be considered as the Modern Internet's integral communication network.
The Cyber Republic is a community governance mechanism, which works based on consensus.
When analyzing a project financially, gaining public attention is a critical factor to consider. Our data show that ELA's popularity has grown over the last five months. Its Twitter account saw an increase of 45% during the time frame, surpassing 50k followers when writing this post. Telegram and Reddit also saw growth in ELA's popularity, with 52% and 6%, respectively.
Elastos is ranked 500 among all the market's cryptocurrency projects with an approximately $100 million market cap. ELA's market cap rank saw many ups and downs over the last five months, with the minimum of 522 on September 3, 2021, and the maximum of 343 on June 11. Also, ELS's liquidity score is 27% below the market's average score, making it a difficult sale in bear markets.
ELA's price followed a moderated version of its market cap trend, fluctuating around $4. Starting at the price of $4.21 on June 11, 2021, reaching the peak of $6.98 on September 19, it now has the price of $4.8.
If you had invested in Elastos, the most important factor for you is Return On Investment (ROI). ELA's ROI is reported to be 220% over the last year, much below its similar projects in the "Smart Contract" category. Moreover, it underperformed compared to the market's top 1500 cryptocurrency projects in terms of ROI.
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