Elastos Forms Merged Mining Partnership With Bitmain

Elastos (ELA), a China-based blockchain-powered Internet infrastructure, announced on Monday it has formed a merged mining partnership with Bitmain Technologies, a consumer-grade ASIC miner.

Elastos called the new collaboration monumental for both miners and future users of the platform, as it guarantees the security of the Bitcoin network by sharing its “hash power” and serves as a significant step towards mainstream integration of Elastos’ secure and reliable internet operating system. It was also reported that the merged mining allows Bitcoin (BTC) and the ELA coin to be mined simultaneously and more efficiently.”

Rong Chen, Founder and Chairman of Elastos stated that that partnership serves as an affirmation of the strength of the Elastos community and technology.

“The accomplishments in our first year alone are indicative of Elastos’ potential to make waves far beyond the blockchain space — we are on track to change the whole internet industry, its users, digital ecosystem and to create an industrial strength IOT network. This is the internet of the future, where people will own their data, and connect directly and securely.”

Elastos also reported that in addition to its partnership with Bitmain, it capped off its two-day anniversary celebration in Thailand with announcements about its incentivized community portal, Cyber Republic, and the rollout of a full end-to-end test environment of the Elastos Smart Web Alpha, called Elastos Trinity. Trinity aims to implement a cross-platform application, compatible with Android, iOS, Window, and Mac, and will serve as the gateway from the existing internet to the Elastos internet infrastructure.

Through Cyber Republic, Elastos is launching two initiatives

  • Empower 35 initiative: Will hire 35 community managers this year to lead their own initiatives to recruit and develop talent pipelines within Cyber Republic
  • CR100: Created to showcase Elastos’ capabilities across 100 distinct decentralized application projects, all with different utilities, that can be built around the Elastos infrastructure

Fay Li, Chief Marketing Officer of Elastos, added:

“We are starting an online country that will enable entrepreneurs and developers to democratically build the new internet, and we are giving almost half of our coins to fund it. Our first initiative for Cyber Republic is to fund the construction of 100 decentralized applications on Elastos. We are the first blockchain project to do this.”

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