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Frequently Asked Questions (FAQs)

What makes Elastos a frontrunner in Web3?โ€‹

Elastos is deploying technologies that protect user identity and privacy while also facilitating maximum trust on Web3. Through our dApps, users can safely and securely interact like never before.

Is Elastos a blockchain project?โ€‹

Yes and no - Elastos has multiple core components that fit within the entire ecosystem but have different purposes and functionalities to meet user needs. The Elastos mainchain-sidechain architecture enhances our networkโ€™s scalability in order to power these different applications, where all dApps running on Elastos have the ability to interact with several sidechains.

How is the Elastos blockchain decentralized?โ€‹

The Elastos blockchain is secured by a hybrid consensus mechanism named Elastic Consensus that combines Bitcoin merge-mining with Bonded Proof-of-Stake (BPoS). This enables to be simultaneously secured by Bitcoin's cash rate and regular network participants.

What's the native Elastos token?โ€‹

ELA is the native token for Elastos that helps support the underlying network. It's also used for registering nodes, participating in governance processes, staking, storing information on the Decentralized Identity Chain (EID), and interacting with smart contracts on the Elastos Smart Chain (ESC).