Flying under the radar: Elastos (ELA) – Top 10 candidate for 2018

June 11, 2018

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.

Contrary to beliefs of many in crypto community, Elastos has own smart contracts and doesn’t need NEO or any other chain. Not many people understand this and the great thing is that Elastos has interoperability with other blockchains. Elastos is not built on top of NEO. Elastos MAY be able to interact with NEO blockchain in the future but it doesn’t have to.

Neo and Elastos are complimentary, not competitors. ElastOS is its own blockchain and will be the mainchain for ELA transactions, Dapps will be run as sidechains. Ontology and TheKey will also be used for some specific tasks when required

From the investment viewpoint, is ELA a good buy right now?

It has dipped significantly since its ATH and currently trades at $35 per token. Considering the super small supply, this one can double or triple its price much easier than coins with bigger supply.

ELA tokens have a low coin supply, only 33 million in total will ever exist.

Any tokens generated on Elastos will be required to lock 2-5% of their total token supply in ELA. This is huge considering dApps by companies as massive as Zapya (400m users), Huawei, Alibaba, and the unnamed massive gaming company (as well as more to come which has been hinted at many times by Elastos team) will need to generate their own tokens on Elastos or utilize ELA for transaction fees and creating digital assets on the Elastos blockchain.

By August this year, Elastos will be a fully realized project. Investors in ELA are also looking forward to the 7 new exchanges that have been signed, coming soon!

There is a staking mechanism with masternodes as well in ELA (arbitrators they are called), more details will follow in the coming months.

Hodlers of ELA get an airdrop of every ICO launched on the platform. Elastos is also a project with possibly strongest partners in the game, it has financial backing of big Chinese companies like Foxconn, Huawei, Alibaba and alike.

Elastos is still relatively under the radar similar to NEO back in 2017. NEO didn’t smash onto the scene either. It was a small Chinese coin with a funny name (at the time) and a lot of people thought it was a scam. Then it got hyped and skyrocketed to top 10-15 ranks on CMC.

If you take into account all of the things mentioned in our article and a lot of more positive moments emerging for ELA on daily basis we missed to refer here, ELA is a must buy right now. But as always, DYOR and take this article just as an additional tool in your decision making.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com