Elastos

What is Elastos?

Elastos adopts a hierarchical structure of main chain and sidechains to alleviate pressure on the main chain and enhance DApp performance.

The main chain manages ELA circulation, while DApps operate on sidechains. A secure transfer of value between the main chain and sidechains is facilitated through the Elastos main chain+sidechain transfer mechanism.

Arbitrators, elected by main chain token holders, ensure security by jointly signing token withdrawals from sidechains to the main chain. The Simplified Payment Verification (SPV) mechanism secures recharging operations from the main chain to sidechains.

Sidechain nodes synchronize main chain block headers, enabling decentralized consensus on transfer transactions. Elastos sidechains can employ any consensus mechanism, with a POW-based sidechain developed by the Elastos team for SPV and DPOS-based operations. Through cross-chain technology, Elastos enables mutual transfers with other blockchain systems, termed "friend chains," facilitating interoperability and expanding its ecosystem.

What Benefits does the Elastos Blockchain bring to Bitcoin?

Smart Contracts and EVM Compatibility: Elastos enables Bitcoin to seamlessly integrate with the Ethereum Virtual Machine (EVM) and its surrounding ecosystem, enhancing compatibility and interoperability between the two networks.

Decentralized P2P Network: Elastos Carrier is a decentralized internet service within the Elastos ecosystem, enabling nodes to operate in various internet-connected environments. Through UDP-based NAT transparency techniques, nodes can establish direct connections, maximizing network capacity. Foundational services include decentralized domain names, computation, and storage, supporting DApp development. Users can maintain data privacy and rent out their equipment via the Elastos Blockchain, earning compensation based on consumed resources, fostering the Elastos marketplace.

Improved Consensus Mechanisms

POW-BasedSidechain: Elastos offers a POW-based Sidechain implementation, simplifying the development of dApps. This Sidechain utilizes merged mining with the Elastos main chain to leverage computing power. During each arbitrator election cycle, main chain arbitrators take turns acting as "arbitrators-on-duty," responsible for generating Sidechain blocks. The rotation sequence is determined by voting results, reflecting in the mining transaction posted on the main chain. Proceeds from the Sidechain, allocated to miners and the foundation, fund arbitrators generating "mining transactions." This model ensures Sidechain safety through main chain election trust and merged mining computing power, maintaining transaction history integrity. Sidechains can also be mined independently, competing with the main chain's computing power, guaranteeing sufficient security when POW rules are followed.
DPOS-BasedSidechain: Elastos is planning to introduce a DPOS consensus-based Sidechain, where the main chain's arbitrator assumes the role of a representative for the DPOS consensus on the Sidechain. This approach still ensures Sidechain security via the main chain but streamlines the mining process, enabling faster block generation. Each Sidechain node can access the main chain's voting information through the attached main chain SPV module, facilitating consensus on the legitimacy of the arbitrator.