Elastos (ELA) is the coin running on the Elastos blockchain. Elastos can be used for paying blockchain processing fee, trading, paying for digital assets etc. One Elastos can be divided into 10^-8 Satoshi-Elastos (Sela) which is the smallest unit of Elastos. The total supply of Elastos is 33 million.
Elastos is founded by Rong Chen who is also the director of Tsinghua University iCenter. The project is co-founded by Feng Han who is a visiting scholar and research associate at Columbia iversity. The team consists of 50 members excluding the founder and co-founder. The board of advisors consists of 9 different members.
The purpose of Elastos is to redefine the internet and the way it is used. The objective of the project is to develop a decentralized internet where a user can access articles, books, games, and movies without the need for an intermediary platform. The content providers will know how many times their content has been viewed. They can be paid directly using Elastos coin for the monetized content.
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