Elastos (ELA) ICO Review & Analysis – Elastos ICO Review

Elastos

Smartweb Powered by Blockchain

Network Token

Elastos is the safe and reliable internet of the future. Built utilizing the blockchain, this technological breakthrough provides the first completely safe environment on the web where decentralized applications are detached from the internet while also permitting full scalability to millions of users.

Elastos enables the generation of wealth through ownership and exchange of your data and digital assets. Welcome to the new Smart Web, where safety and economic distribution can flourish on the internet.

Elastos Blockchain – Establishing trust on the Internet by building a decentralized Smart Web where devices, individuals, websites and digital assets have trustworthy IDs.
Elastos Runtime – Lightweight operating system run on mobile devices or PCs that prevents applications from directly accessing the Internet
Elastos Carrier – Completely decentralized peer-to-peer platform that conveys information for applications by taking over all network traffic between virtual machines.

“The blockchain structure of Elastos allows for merged mining with Bitcoin. This relationship ensures safety and reliability due to the Proof of Work computing power of Bitcoin. Built with main and side chains, Elastos avoids issues of main chain overload and congestion and increases the possibility of Elastos becoming the basis for future internet applications.”

Positives

Decentralized content distribution and verification is a perfect use-case for Blockchain technology. Content owners get to claim their content as their own in front on an immutable ledger and consumers can purchase several digital assets, guaranteed that they have access to that potentially exclusive content. This opens up a huge array of opportunity for content creators to deliver content to those who wish to purchase it without a middleman. Exclusive content, limited edition content, content distribution efficiency, the list goes on and on.
The team behind Elastos is one of the strongest parts of this project. Being advised by the likes of Jihan Wu (CEO of Bitmain), Hongfei Da (Founder & CEO of NEO) and many other high profile individuals, the Team of 52+ members is in good hands. From the Team photos/profiles we can tell that the senior team members are extremely experienced and well suited to their roles. Plenty of Engineers working on the project which is an absolute must for this type of app.
Elastos has been around for quite some time. “In 2000, Rong Chen, A Senior Alumnus of Tsinghua University’s Computer Science Department, left Microsoft after almost ten years of work on their operating systems, and returned to China to begin research and development on the first-generation Elastos network operating system.” Elastos has obviously undergone some changes and found it’s home in the Blockchain/Crypto space which is really what the original vision required to work effectively. If you’re looking for a project with a long roadmap, Elastos has been through a lot. Investors should have confidence in the Teams longevity.
Elastos has a lot of resources already up and running which is pretty impressive considering they are still pretty fresh out of their ICO (Written August 2018). They’ve got a full Block Explorer up and running, an Official Wallet available for ELA storage and an extensive library of Documentation for those who are interested in the inner workings of Elastos.
Elastos has an incredibly active community behind them along with an extensive library of Github Commits & Repositories available to the public. When we wrote this review, Elastos had pushed commits to 6 of their Repositories in the past 3 hours. We don’t put a lot of weight into the Github activity of a project but it’s clear there are more than a few people working hard in the background. Elastos is a fantastic project and we’re excited to see it develop.

Concerns

Elastos doesn’t actually have a lot of points that we find “concerning”. The overall concern is with the business model and the plan of adoption in regards to the task ahead. Elastos is entering a space that is in need of decentralization but is heavily dominated by centralized solutions that have the marketing budgets in the billions. Plenty of customers, a long road ahead.
Elastos has some great use-cases and definitely states them well throughout their website and whitepaper. We have a few general concerns regarding the actual practicality of some of the use-cases when adapted to the real world. For instance, verifying who created a piece of content via blockchain tech is a perfect use-case but this doesn’t make it impossible for somebody to copy that content. We’ve seen how DRM (Digital Rights Management) software/techniques have failed throughout the entertainment industry. If people want content for free, they will find a way to get it whether it be via screen-capturing videos, recording audio from a computer, screen-capturing text from a paid PDF, etc, etc. Not a direct concern for Elastos, just a potential “counter” to that type of use-case.
Going back to our point about Elastos enabling users to “verify” that they are the original owners of their content. At this time, it’s not known how they are going to prevent somebody from simply “claiming” that a piece of content is their own. If somebody uploads a video first they are now seen as the content owner, even if they’ve uploaded another creators content before the original owner has gotten a chance to upload it. Who is stepping in here to regulate who “actually” made that piece of content? We aren’t putting all of that responsibility onto Elastos, it’s a problem that any project in this space will encounter due to the decentralized nature of blockchain tech.