KuCoin today announces another exciting project got listed to their state-of-the-art platform. Elastos is considered the first decentralized internet powered by the blockchain technology.
Elastos native currency ELA is now available for deposit with trading pairs such as ELA/BTC and ELA/ETH. Buying will start at 21:30 (UTC+8) while Selling/Withdrawal at 22:00 (UTC+8).
The Elastos project has established to become the internet of the future by building the world’s first open-source internet operating system powered by blockchain technology. Basically, the team is attempting to create the infrastructure of a new internet that is more stable and permits for the transfer of value and production of wealth.
Cybercrime rates are fastening both from blackhead hackers as well as from tech giants and are supposed to more affect global internet users. One of the principal reasons why is that each device and each operating system is a potential security threat, bringing with it the probability for online companies to cache data. Every direct link to the internet creates a 2-sided gate.
The Elastos team has been building a fully decentralized, peer-to-peer internet to solve many of the issues of our existing internet. They’ve been creating a new internet, powered by blockchain technology.
The Elastos Coin: ELA
Currently, the total supply of ELA is 33 million which is not that much correlated to other projects, pointing to a naturally high value of 1 ELA coin. Yearly, the total number of ELA will increase by 4%, and the coins are mined as Bitcoins are mined. 30% of the mined coins will go to the ELA foundation, and the remaining 70% will go to the miners.
The ELA coin will be utilized for some functions of the platform, which is a positive thing as it produces a natural demand for the coin. ELA will be used to pay for Elastos-based domain names for (d)apps, usernames, Elastos storage services, and issuing tokenized content (music, books, videos).
Additionally, the ELA token will be the coin of the Elastos smartweb, which can be applied as a reward to developers, pay for products and services on the smartweb, or associate in the token sale of new project launching in the Elastos ecosystem.