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Elastos Founder Talks of “Revolutionary” Project and Decentralized Future

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Elastos Internet

The Elastos founder, Rong Chen, has said that his company is set to be embark on a “revolutionary” project with the main purpose involving building technology protocols for the “modern internet”.

In an exclusive interview with Cryptoinsider. The founder was bullish in his ambition and claims throughout the interview, saying:

“we [aim to] solve the problem for all forms of digital assets on the internet. [We consider] this [to be] revolutionary.”

According to Chen, Elastos:

“proposes to build a new web that is free of any centralized parties controlling any part of the infrastructure. Elastos is building a smart web that consists of [a] blockchain and sidechains” which will form a set of “immutable ledgers.” This platform will be used for “running smart contracts” and it will also serve as a “decentralized carrier for all network traffic.”

Elastos is also looking to make moves in dApp development space, an area dominated by Tron, Ethereum and EOS. Chen said that Elastos intends to offer a complete “way of running decentralized applications (dApps) without any intermediaries.”

Chen didn’t reveal any difference from other dApps launched on Ethereum, EOS, Tron, and other blockchain platforms which also do not require third-parties. The chairman claimed that Elastos’ network helps connect “developers, teams, and businesses building real-world applications for a wide variety of platforms and use cases.”

Gaming was also a topic brought up, as many blockchain companies appear to be doing well in the industry. On the blockchain gaming industry, Chen said:

“Gaming has gained traction in recent decades and it’s estimated that it’ll only continue to increase over the coming decades and I believe blockchain is at the forefront of this industry.”

The future of Elastos seems to be bright. Chen seemed very optimistic. He claimed:

“The most immediate progress to report is the fact that in the next month, Elastos will truly be decentralized. Over the next month, the Elastos team plans to complete the vision they have had for the last decade or so.”

He continued,

“First is the hybrid consensus of AuxPoW+DPoS being live and open to the entire world. This means, anyone can start to merge mine ELA with BTC and anyone can participate in the DPoS election. As I mentioned earlier, the Elastos network is protected by the hybrid consensus and it’s robust and this is what will create more decentralization and give more power to the community.”

What do you guys think of the proposed future steps? Let us know below.

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