Rong Chen: Elastos is on its way to being the first project to build the decentralized internet

Just recently we have actually come across an interview with Elastos Creator and Chairman Rong Chen and we discovered the standard idea of the task extremely fascinating. The task that can just be traded on Huobi.Pro today is intending to construct a brand-new and decentralized web and a platform for IoT, which will be more personal privacy focused and safe for the end-users (as well as the devices).

The Elastos platform is developed from 3 parts: Elastos Provider, Elastos Blockchain, Elastos Runtime (Virtual Device). The provider is the crucial to fix the issue of the decentralized web.

The task has actually been included on Huobi Talk just recently and had some fascinating takeaways. Most notably Elastos (ELA) is developing an own blockchain to match all the jobs requires with a total community together with a structure and a mining economy.

Rong Chen explained to describe the fundamental defects of the web to offer the audiences a photo on exactly what the issue is that requires repairing. The primary argument was that the greatest defect of the web is the extremely nature of it, every peer/server/node can reach and interact with each other, that makes it transparent system that is likewise susceptible to attacks. This function (which is likewise the defect) leads to the absence of personal privacy for the users as well as possible attack vectors arising from destructive peers, like a DDOS attack for instance. This, particularly in concerns to IoT gadgets, is a dreadful style thinking about that nobody actually desires others to find the address and gain access to his/her smarthome system paired with wise cams and other wise facilities products.

Elastos argues that central systems like WeChat (or other comparable app) have a great style function, they use a ‘provider’ who is examining both celebrations, verifies safe interaction channels and provides information transfer for the celebrations included. The only defect with this idea is that these providers are centralized in the real life presently. The Elastos Carrier will use a decentralized option for the Elastos Smart Web to the existing providers, which will transfer the network traffic in between the Elastos Virtual Device on the behalf of decentralized applications.

Every dApp is run by a user and designated a function and will produce a brand-new VM when opened inside a Runtime. This implies that the dApps are seperated from eachother and there is no chance to link to them from the exterior. The task of the Elastos provider is to validate the stability of a dApp and to move the information later on.

( Image drawn from Elastos Medium)

The Elastos Provider will need an ID Authentication action prior to information can be moved, which will avoid DDOS attacks. The ID will be offered to the celebrations that take usage of the Smart Web by the Elastos Blockchain. This is the primary reason that a blockchain has actually been required and the primary element in Rong’s vision that he has actually been dealing with for the last years. The interaction paths will be genuinely decentralized and will be safe versus content dripping and man-in-the-middle attacks. The provider will likewise can effective information transfer, which will make video steaming, audio streaming and text messaging a possibility.

( Image drawn from Elastos Medium)

Every existing popular service that is required for the web will be moved to a dApp that will work on this safe network, consider messaging apps, video streaming, sites, and so on Roadmap for this year consist of big scale applications, combination of huge information services, the release of the mobile web application structure and the release of Elastos Chain and Elastos ID Chain mining.

We feel that the task has extremely strong basics, however the concept of a decentralized web is absolutely nothing brand-new. The area will be ruled by the very first innovation that handles to fix all the issues relating to scalability and functionality so that the masses can move to the provided services. Presently there are just a handful of task, makinged great development just recently to fix the decentralization of the web and Elastos appears to be among the couple of.

For the complete video including Elastos Chairman Rong Chen have a look at listed below. There is furthermore a free gift running for 215.25 ELA (which represents around $4500), standards remain in the description here.

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.


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