Table of Contents
ToggleAdvantages of ELA as a Reserve Asset in Elastos Ecosystem
Elastos, as a decentralized network platform, is committed to creating a more secure, private, and autonomous online world. Its ecosystem covers various fields, including decentralized identity (DID), data storage, smart contracts, decentralized applications (DApps), and decentralized finance (DeFi). ELA, the native token of the Elastos ecosystem, plays the role of both a reserve asset and a governance token. It has the following advantages:


Advantages of ELA as a Reserve Asset
- Security: ELA is merged-mined with Bitcoin, sharing Bitcoin’s hash power, which ensures extremely high security. Approximately 50% of Bitcoin’s hash rate is used to secure the Elastos main chain, making it one of the most secure digital assets in the world. The total supply of ELA is capped at 28.22 million, with halvings every four years, similar to Bitcoin’s halving mechanism.
- Decentralization: Elastos uses a consensus mechanism that combines Auxiliary Proof-of-Work (AuxPoW) and Bonded Proof-of-Stake (BPoS), ensuring the decentralization of the network. Over 70 BPoS nodes globally participate in the governance and maintenance of the Elastos network.
- Stability: ELA’s value is anchored to Bitcoin and benefits from Bitcoin’s long-term value growth. Due to Bitcoin’s scarcity and market recognition, ELA also has a value retention feature.
Advantages of ELA as a Governance Token
- Community Governance: ELA holders can participate in the governance of the Elastos ecosystem through the Cyber Republic DAO (CR). Every year, ELA community token holders elect 12 council nodes, which run their own validators and vote on proposals on behalf of the community.
- Ecosystem Incentives: ELA is used to pay for transaction fees, smart contract execution fees, and data storage fees on the Elastos network. Additionally, ELA is the staked asset and rewards for BPoS validators. Staking ELA yields an annual return of 2-3%, with higher rewards for longer lock-up periods.
- Value Capture: As the Elastos ecosystem continues to grow, the value of ELA will increase with the expansion of the ecosystem. The increasing number of applications and users will drive demand for ELA, thereby boosting its market value.
Elastos Ecosystem Projects
- Essentials Wallet: The core application of the Elastos ecosystem, offering decentralized identity (DID), digital asset management, secure communication, and DApp access. Users can easily stake ELA and generate BPoS NFTs through the Essentials wallet.
- BeL2: Bitcoin Elastos Layer 2 protocol, allowing users to use Bitcoin for payments and execute smart contracts on Elastos sidechains without transferring Bitcoin. BeL2 uses zero-knowledge proof technology to verify the state of Bitcoin locked on the main chain, bridging the proof to EVM-compatible smart contracts via oracles.
- Elacity: A data monetization platform that allows users to monetize their data through a decentralized digital rights management (dDRM) marketplace. which features robust IP protection and scarce, tradable access, ownership and distribution rights. By offering a decentralised, scalable networking solution, Elacity enables a digital asset marketplace.
- Glide: A decentralized exchange (DEX) on the Elastos Layer 2 sidechain.
- CreDA: CreDA’s AI-powered oracle, designed to harness and analyze six years of key behaviors and transactions on the Elastos Smart Chain (ESC). This groundbreaking tool not only enhances the functionality and performance of ESC but also offers profound benefits for its users, the platform’s profitability, and the broader Web3 industry.
The Elastos ecosystem is dedicated to creating a more open, transparent, and sustainable online world. ELA, as its core token, plays a crucial role in driving ecosystem development and value growth.
It is recommended to click to go to the X platform:New Bretton Woods Labs
If you want to purchase a supplement, click Digistore24 to go.
References
What is elastos crypto used for?
Elastos is a decentralized internet-of-things blockchain ecosystem. It is used to build decentralized applications and provide secure, blockchain-based digital identities, digital assets, and smart contracts.
AI beauty, street photography, dance appreciation. Click digit_content@instagram to watch more content.
Get in touch with nature on the trip, beautiful scenery will relax you.Click zaztourist@instagram to watch one content.
Beautiful photos and videos.Click zaztourist@facebook to Watch more content.
Watch more weight loss, health, herbal supplements introduction. Click zaz0909@Pinterest to Watch more content.
Xishuangbanna Scenic spot project reservation phone number(西双版纳景点项目预定电话):15283027571