UPDATED Elastos Post on October 18 2018 at http://cryptoshoptalk.com/elastos-review-october-18-2018/
What is it:
Operating system for blockchain, on NEO platform. (edit 10/18/18 – this is actually not true, but it was a commonly held misconception back then. Da Hongfei of Neo was an early investor and advisor to elastos).
Open source, main net already active (project over decade old)
Envision us, “owning our own” assets: ie. today you buy something online such as ebook, movie etc but not truly yours; you cannot resell it. Aim to change this.
Transfer of digital content with no middle man. Executed with use of digital ID’s to aid ownership, transferring right (smart contracts)
dAPP platform: different in that aim to correct current problems with dAPPs (speed, storage, cost, security, etc); enabled by the blockchain but will not run on the blockchain
Instead will use Elastos Runtime on top of another operating system (android, iOS, etc). This will be very useful for big projects such as Facebook which isn’t runnable on current systems.
Main chain will be used for payments
Multiple side chains; smart contracts, dAPPs
Interoperable with NEO virtual machine but will also have one of its own
4 key parts: 1) Elastos Runtime: can be independent operating system, own virtual machine, or software dev kit interacting with other operating systems (important bc doesnt have to replace other systems)
2) Blockchain: Digital ID (one of main goals to increase safety): people, website, assets all can have ID’s (drastically increases safety)
3) Elastos carrier (P2P platform, carrying for network)
4) Elastos SDK; needed for accessing digital IDs and carrier service.
Proof of Work (35%) model and delegated Proof of Stake (35%)
Starting December mining of Elastos chain and Elastos ID chain starts
Rong Chen (Founder) – project lead behind Windows Vista and Windows XP
Hongfei Da – CEO of NEO, Jihan Wu – CEO of Bitmain
Bitmain (worlds largest provider of hashing power for BTC network; adds to stability and security), NEO, SAIC Motor (automotive giant in China), Huobi