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The Journey of Elastos- Celebrating its 6th Anniversary- Part 3
Welcome to the third installment of our series, “The Journey of Elastos – Celebrating its 6th Anniversary.” In this final chapter, we delve deep into the thriving ecosystem of Elastos, a dynamic blockchain project that has consistently pushed the boundaries of what’s possible in the realm of Web3 technology. As we celebrate six years of innovation, it’s time to explore some of the projects, partnerships, and vision that have propelled Elastos to the forefront of the decentralized revolution.
The Elastos ecosystem is a testament to the project’s unwavering commitment to creating a user-centric internet where individuals have control over their digital destinies. From pioneering solutions in digital content ownership and monetization to forging powerful partnerships with industry giants, Elastos has been on a relentless quest to reshape the digital landscape.
Join us on this journey as we discover how Elacity is revolutionizing digital content, how Essentials serves as a user-friendly gateway to Elastos dApps, how Feeds is reinventing social media on the blockchain, and how Glide Finance is driving community-driven decentralized finance. We’ll also explore Elastos’ strategic partnerships with Alibaba Cloud, Tencent Cloud, and Celo, each of which plays a pivotal role in shaping the future of decentralized technology.
As we celebrate Elastos’ sixth anniversary, we invite you to explore the incredible projects and partnerships that have brought us to this point. The road to a user-powered future in the world of Web3 technology is paved with innovation, collaboration, and the relentless pursuit of a decentralized digital world. Let’s dive into the final chapter of this remarkable journey.
Elastos Ecosystem Projects
Elacity – Revolutionizing Digital Content Ownership and Monetization
In the dynamic Elastos ecosystem, Elacity emerges as a transformative force, revolutionizing digital content creation, distribution, and earnings. By fusing Non-Fungible Tokens (NFTs) with Digital Rights Management (DRM), Elacity empowers content creators while safeguarding their intellectual property. Aligned with Elastos’ vision of self-sovereignty, Elacity’s innovation enables creators to sell authenticated NFT versions of their work, granting control over distribution and usage while ensuring protection.
Elacity is innovating its dApp performance by integrating Runtime technology, setting it apart from other NFT marketplaces. They’re introducing data capsules—specialized WebAssembly (WASM) code converted from media files—which users can access via the Carrier network. These capsules can only be opened within the secure Runtime environment, which consults the blockchain for permission before granting access.
Access tokens, DRM NFTs, issued on the ESC chain, enable content trading while ensuring royalties flow to stakeholders. Elacity’s approach fosters inclusivity, allowing users to own, protect, trade, and profit from their data. Runtime’s sandboxed system secures access, compatible with various browsers and devices. Overall, Elacity’s integration of Runtime and blockchain-based DRM promises secure, decentralized data access, potentially revolutionizing decentralized data sharing.
Essentials – The User-Friendly Gateway to Elastos dApps
Essentials is an intuitive all-in-one wallet for accessing the Elastos ecosystem. It provides user-friendly onboarding to Elastos DIDs, Hive storage, Carrier chat, and a growing portfolio of dApps. Essentials abstracts away blockchain complexities, offering a clean wallet interface anyone can use.
Essentials introduced Ledger Nano X hardware wallet support in its June 2022 release. This integration significantly enhances asset management security, eliminating the need to share wallet mnemonics with any application. Ledger integration encompasses Elastos, Bitcoin, and Ethereum-compatible networks, including DeFi dApps. The release includes fine-tuned user interface improvements, Elastos main chain multi-signature support, new EVM networks, accelerated NFT operations, and various enhancements.
For Elastos to achieve mainstream adoption, ease of use is essential. By crafting an elegant mobile wallet experience, Essentials makes it simple for regular internet users to leverage the power of decentralized apps and services. It serves as a crucial gateway to drive user onboarding.
Feeds – User-Powered Social Built on DIDs
Feeds is a blockchain-based social media platform built entirely on decentralized technologies. It utilizes Elastos DIDs for user profiles, Carrier for encrypted data transmission, and Hive for media storage. This ensures user ownership over all network data and connections.
In contrast to extractive social networks, Feeds offers an ethical alternative that aligns with decentralized values. Media ownership, connections, and discussions happen directly between users. Feeds is laying the foundation for the inevitable transition toward open social platforms.
Elastos Info recently launched an article writing contest for community members to share ideas on how the Elastos Feeds app can leverage the momentum of Nostr. As a decentralized and encrypted social network, Nostr has been gaining widespread popularity in the Web3 community. To tap into this hype and showcase Elastos’ capabilities, the “Best Article” contest was announced with the theme: “How can Elastos ride the Nostr wave?”
The contest called upon the Elastos community to submit articles exploring potential integrations between Feeds and Nostr. Writers were encouraged to provide technical analysis, case studies, or real-world examples of how Feeds could capitalize on Nostr’s growth.
By launching this contest, Elastos Info engaged its community to actively brainstorm and contribute perspectives on connecting two leading decentralized social platforms. Community participation is key for Elastos to continually explore new opportunities in the evolving Web3 landscape. The contest rewarded the most insightful articles analyzing how Feeds can effectively leverage Nostr’s decentralized identities, messaging, and social profiles. Winning submissions highlighted Elastos’ commitment to an open and user-driven internet of the future.
The Feeds team worked to deploy two dedicated Nostr relay nodes for the Feeds dApp. By connecting to these relays, Feeds users can now post updates and access their feed faster than before. The reduced latency improves the Timeline feature and overall experience of the Feeds dApp. This integration highlights the community-driven nature of Elastos and its ability to identify and incorporate the latest innovations in the Web3 space. It’s a small but meaningful step that lays the foundation for further decentralized social features powered by Nostr and Elastos Carrier technologies.
Glide Finance – The Community-Driven Decentralized Exchange
Glide Finance is a decentralized cryptocurrency exchange protocol built on Elastos Smart Chain. It provides automated pooled liquidity and high-speed swaps of ELA and other ERC-20 tokens without intermediaries. Leveraging blockchain for transparency and security, Glide Finance enables community-driven DeFi with sustainable tokenomics.
As a homegrown project, Glide Finance showcases the vibrant developer ecosystem blossoming on Elastos. It provides key financial infrastructure for the community while adhering to principles of openness and transparency characteristic of Web3.
In September of 2022. Glide Finance collaborated with Elk Finance to establish liquidity on the Elastos Smart Contract (ESC) chain, which played a pivotal role in strengthening the foundation of Decentralized Finance (DeFi) within the Elastos ecosystem. As the first non-native project to build on ESC, Elk’s integration into the platform brought significant liquidity incentives through Glide Finance.
When Elk joined ESC, Glide Finance introduced liquidity incentives that resulted in an immediate doubling of on-chain liquidity for the ELA/ELK trading pair, surging from $400k USD to $800k USD. This infusion of liquidity invigorated the ecosystem, attracting new users and enhancing overall activity.
Elastos has formed impactful partnerships with industry giants to advance the digital landscape. Collaborating with Alibaba Cloud, Elastos merges blockchain and cloud computing, revolutionizing data control while utilizing cloud storage benefits. The Tencent Cloud alliance accelerates Web3 growth, empowering developers with technical expertise and cloud services. Joining forces with Celo, Elastos integrates decentralized identity solutions onto Celo’s blockchain, enhancing ecosystem features and accessibility through the Essentials Super-Wallet. These partnerships collectively drive innovation, inclusivity, and security, reshaping the future of decentralized technology and digital experiences.
The partnership between Elastos and Alibaba Cloud marks a significant advancement in the pursuit of a more secure, scalable, and user-centric digital landscape. By merging the strengths of blockchain technology and cloud computing, the collaboration introduces a hybrid approach that enables Elastos to retain data control while leveraging the benefits of cloud storage. This alliance holds the potential to redefine our understanding of digital assets and data sovereignty, offering a pathway to a more innovative and secure future. The partnership’s focus on scalability, security, and innovation underscores their commitment to shaping a new digital paradigm that combines the power of decentralized solutions with the infrastructure prowess of Alibaba Cloud.
Elastos and Tencent Cloud have joined forces to accelerate the growth of Web3, enhancing the inclusivity and security of the modern internet. This strategic partnership capitalizes on Elastos’ technical prowess and Tencent Cloud’s cloud service expertise, aiming to empower developers and startups within the Web3 realm. The collaboration involves leveraging Tencent Cloud’s infrastructure for technology services and platform operations, while simultaneously offering developers seamless access to its resources. Through customized incentives, joint marketing activities, and shared initiatives, this partnership is set to revolutionize the Web3 landscape by driving innovation, supporting startups, and integrating cutting-edge services for a more secure and dynamic digital experience.
In June 2023, Elastos, a prominent player in decentralized Web3 infrastructure, joined forces with the carbon-negative blockchain platform Celo. This strategic partnership involves the integration of Elastos’ decentralized identity solutions onto Celo’s layer-1 blockchain. By leveraging this collaboration, Elastos aims to enhance Celo’s ecosystem with its cutting-edge Web3 solutions, encompassing features such as W3C compliant decentralized identifiers (DID), decentralized storage, and credibility scoring. Furthermore, Celo’s dApps will become accessible through Elastos’ Essentials Super-Wallet, which now seamlessly supports the Celo network. This enhanced compatibility empowers users to manage assets, NFTs, and engage with dApps all within the app browser.
Users within the Celo network will experience an array of benefits, including self-sovereign DIDs, support for KYC processes, verifiable credentials, personalized contact lists, and complimentary decentralized cloud storage. This collaboration harmonizes with Celo’s mobile-first strategy and their mission to promote global equity and inclusivity through Web3 adoption. Future endeavors under this partnership will involve tailor-made DeFi solutions, refined DAO governance tools, and incentives for circular economy models and climate-conscious actions. This collaborative effort underscores the paramount importance of decentralized identity solutions in cultivating a positive user experience within the Celo ecosystem.
The Road to a User-Powered Future
As Elastos embarks on its journey into the seventh year, the stage is set for a new era of transformative growth and widespread adoption. Rooted in its unyielding vision of an internet where individuals hold the reins to their digital lives, Elastos has laid the cornerstone of a potent decentralized foundation.
However, this is merely the commencement. With its technology now mature and its ecosystem flourishing, Elastos eagerly invites individuals, developers, and enterprises worldwide to unite in constructing the user-centric internet of tomorrow. Much like the beckoning promise of an uncharted frontier, Elastos stands poised at the threshold of a fresh digital horizon – a realm where people sculpt their virtual realms. Empowered by its resilient infrastructure and united community, Elastos possesses a formidable momentum to realize its dream of an inclusive web, emancipated from the dominion of the few.
Six years were dedicated to establishing the bedrock of this vision. The upcoming six are destined for a collective ascent – a collaborative endeavor to unfurl our banners at the pinnacle of decentralization. The dawn of connectedness, creativity, and financial empowerment awaits its rightful claimants.
With unwavering determination, Elastos propels forward, reaffirming its commitment through the Snapback campaign – a rallying cry that resonates with individuals who dare to shape their digital destiny within the tapestry of Web3. This campaign is set to be the beacon that empowers users and cements their rightful place at the forefront of the digital revolution.