Elastos Blockchain | Secure and Scalable | $ELA Will 10x | Elastos Smart Economy

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Today I would like to discuss the Elastos blockchain structure $ELA, and why it is different from other blockchains such as bitcoin $BTC and Ethereum $ETH.

Down the road a few years, the future of blockchains could rest upon the merged mined dual blockchain structure that is the base layer of the Elastos architecture. With Elastos, this lowest level blockchain, is the Bitcoin blockchain $BTC.

Elastos has designed their blockchain structure to consist of multiple layers of blockchains, with the lowest level blockchain, the primary blockchain, is responsible for the security policy, which is backed by the largest amount of computational power. That is why the Elastos main chain $ELA, which launched in December 2017, is a pure Proof of work mechanism which mimics the bitcoin blockchain and can be merged mined in conjunction with the bitcoin blockchain.

In the future, Elastos will be transitioning from a pure proof of work (POW) consensus on their mainchain, to a hybrid proof of work and delegated proof of stake consensus (dPOS).

On top of the Elastos blockchin is what we haven’t dove into is the sidechains. The Elastos sidechain whitepaper has just dropped, so in my next video I will be diving into the sidechains and how they will communicate with the Elastos blockchain.

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