Components
The Elastos blockchain consists of several components: the mainchain and EID/ESC sidechains.
The mainchain is a completely open-source and sovereign blockchain protocol that stores cryptographic proofs and establishes a secure foundation for the ecosystem through Bitcoin’s hashrate power - this is done by using Bitcoin’s Proof of Work (PoW) consensus mechanism, leveraging merged-mining to ensure the trustworthiness of data being exchanged. With its technology, it can complete transactions and payment transfers.
It uses its Delegated Proof of Stake (DPoS) supernodes to achieve consensus by providing finality for solved network blocks. Furthermore, comes complete with sidechain support, which developers can customize select from a variety of consensus mechanisms.
The Elastos Identity Chain (EID) supports the issuance of DIDs for key stakeholders and applications on Web3 - it provides DIDs for free, where each identity comes with a public/private key and unique ELA address. This sidechain is merge-mined with the Elastos mainchain and is therefore secured with Bitcoin’s hashrate.
The Elastos Smart Contract Chain (ESC) lets developers code and run smart contracts on Ethereum Virtual Machines (EVMs), while also leveraging a DPoS consensus mechanism to optimize scalability and speed. Developers are also able to build smart contracts written in Solidity, one of the most popular and simple coding languages available for ease of use.
Last modified 3mo ago
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