Elastos is not a blockchain project but rather a network operating system project powered by blockchain technology so in that sense, Elastos is not directly competing with any other blockchain projects. It can work together with them to form this new ecosystem where the decentralized applications run directly on the device instead of running on the blockchain along with decentralized peer to peer network to transfer assets in a completey closed sandboxed environment, thereby solving the three pillar issues that are prevelant in the internet of today – security, scalibility and decentralization.
Elastos already has its main network that went live couple of months ago at https://blockchain.elastos.org/. Da Hongfei of NEO and Jihan Wu of Bitmain are both early investors and advisors to Elastos. Jihan Wu has committed to redirecting hashing power from Bitcoin mining to Elastos.