Elastos aims to create a new kind of Internet, powered by blockchain technology. On this new Internet, people will be able to own digital assets and generate wealth from them. Today, there is a seemingly infinite supply of digital books, movies, music and games. But people do not necessarily own their digital property. You can purchase a digital book, for example, but you can’t sell it to anyone else. So, do you really own it? Elastos wants to make digital assets scarce, identifiable and tradable. Property rights pave the way for wealth creation, and Elastos intends to build a new World Wide Web that respects those rights.
The goal is to create an Internet that allows users to access articles, movies and games directly, without going through a media player or another platform intermediary. Elastos will use blockchain technology to issue IDs for digital content, making it possible to know who owns which digital assets. On the Elastos Internet, filmmakers will know how many times their movies were viewed. The combination of Elastos and blockchain technology lays the foundation for a trustworthy and secure Internet of Wealth.
Elastos will be a platform for decentralized applications (Dapps) that runs on a peer-to-peer network with no centralized control. People can access these Dapps via their mobile phones, without changing their operating system. The old Internet is a Web of information. If you click a URL, you get data. Elastos is creating a Web of apps. When you click a URL, you get code. The Elastos Web will be a special economic zone where Elastos tokens function as the base currency.
Elastos is open-source software whose development process has been sponsored by industry giants such as the Tsinghua Science Park, the TD-SCDMA Industrial Alliance and the Foxconn Group for more than 200 million RMB. Elastos has published more than ten million lines of source code, including four million lines of original source code.
Elastos has the following features:
- The Elastos public chain is clean and simple, and hidden from third-party applications
- Elastos prevents overload of the main chain by having a few predefined sidechains
built into the Elastos Carrier platform.
- Elastos promotes the property rights of digital content. Elastos has the capability to
issue tokens for digital assets or applications and to establish the ownership of digital
content through smart contracts.
- Elastos Runtime runs on the OS of customers’ mobile devices. Apps are free to run
and their performance is comparable to existing mobile apps. Elastos supports
traditional programming languages, making it relatively easy to write code. Elastos
also supports popular programming frameworks.
- The separation of apps from the network ensures that digital content won’t be leaked.
- Even when Elastos apps are running on operating systems such as iOS, Android and
Windows, the local OS won’t be able to sabotage the property rights of digital assets.
The value of digital assets is preserved.
- For non-Elastos apps such as Android or iOS apps, users can access the Elastos
Smart Web through the Elastos SDK. Users can log into non-Elastos apps using their
Elastos Smart Web ID. Users can also keep their non-Elastos app data in their
Elastos cloud storage.
- Both Elastos smart contracts and Elastos Dapps run on the Elastos Smart Web. This
creates a closed platform and avoids the necessity of moving on and off the
blockchain. This closed platform creates a special economic zone where users can
feel secure while trading digital assets. This enables a closed cycle of production,
transaction, and consumption that is necessary for creating wealth.