What is Elastos (ELA)?

Deep Dive

1. Purpose & Value Proposition

Elastos envisions a decentralized internet where users own digital assets like data, identities, and compute resources. Dubbed the "SmartWeb", it replaces centralized cloud servers with peer-to-peer networks, letting apps run directly on user devices. This addresses Web2 issues like data exploitation and platform dependency.

2. Technology & Bitcoin Synergy

The network uses merged mining, sharing 50% of Bitcoin’s hash power (CoinMarketCap) for security without extra energy costs. Its BeL2 layer enables Bitcoin smart contracts via zero-knowledge proofs, allowing BTC holders to mint BTCD – a 160%-200% Bitcoin-collateralized stablecoin for DeFi use while retaining BTC ownership.

3. Ecosystem Fundamentals

Key innovations include:
- BTCD Stablecoin: Enables lending/borrowing against Bitcoin without custodians
- Decentralized Storage: Host files across user devices instead of AWS
- Tokenized Assets: Plan to support AI services and digital content royalties

Conclusion

Elastos reimagines internet infrastructure by anchoring decentralized apps to Bitcoin’s security while prioritizing user ownership. With its Bitcoin-native DeFi tools and DAO governance, could it become the bridge between BTC’s $1.2T value and functional smart economies?