Jakarta - Clarence Liu, VP Development from Elastos , who has a software engineer background from Silicon Valley, San Francisco, has just come to Indonesia. Clarence stated that Elastos was interested in developing its platform in Indonesia.
Elastos itself has accumulated more than 50 percent of the hashrate of bitcoin by conducting merge mining with BTC, one of which is in collaboration with Bitmain and other BTC mining pools. This is a significant step or development. In fact, it can be said if the amount is not a small amount because Elastos is ranked 3rd in terms of the highest hashrate in the world.
For now, Elastos has set aside an investment fund of 30 million dollars to fund developers who are interested in creating projects or applications using the Elastos platform. The funds were obtained from Cyber Republic, which is a DAO ( Decentralized Autonomous Organization ) system from Elastos. With this initiative, it is expected to increase the network value of Elastos itself.
When asked about the progress experienced by Elastos in recent times. There Clarence stated, if the progress he got was quite significant during these three years. With more than 70 developers in charge of developing the core infrastructure of Elastos, which consists of 4 pillars: blockchain and smart contract , Elastos carrier , Elastos runtime , and Elastos SDK.
There are several projects that will be released in the near future. The first project is Trinity or Elastos Browser, which functions like an app store from Elastos. Inside is a digital identity and wallet for the user. Elastos browser will be a portal for users to access various applications in the Elastos ecosystem by using the digital identity. In addition, Elastos will provide SDK (software development kit) for developers in developing applications in this Elastos browser. All of that aims to make things much easier when it is being operated, both for users and developers.
In addition, Clarence said, will release Ethereum sidechain. With the opening of Ethereum sidechain to the public after going through the testing phase, developers can use the programming language solidity to develop their projects with high TPs because they use the dPos system. It also has been secured by 50% hashrate of BTC as its mainchain.
One of the uses of the Elastos platform is as a platform from dApps ( Decentralized Application ), on the one hand the same as Ethereum which is a platform from dApps. But if Ethereum only decentralizes its blockchain layer, Elastos decentralizes other services, such as the digital identity layer, the network layer, as well as the storage layer.
Currently Elastos have a coin that has been traded on various exchanges trade. One of them is ELA which is a native coin from Elastos, based on its own market value, ELA is currently in the top 100 ranking for cryptocurrency. Regarding the volume of transactions per day, Clarence said it could reach more than half a million dollars. Of course, this amount can be concluded if Elastos native coins are sufficiently liquid in the trading market.
For business development next year, Clarence stated that there are several plans made. One of them is launching Elastos Browser. It is hoped that there will be an increase in the number of applications in the fully decentralized Elastos ecosystem , and many more. Next year is the stage where Elastos will combine various decentralized service components that have been built for more than 2 years in one solid framework.
In the future Clarence hopes to enter the cryptocurrency trading market in Indonesia. When asked further about the possibility of Elastos listing on one of the cryptocurrency trading exchanges in Indonesia, Clarence said that he had been in contact with several trading exchanges in Indonesia but could not open it to the public in detail at this time.
Clarence recently came to Indonesia from Singapore. Where Clarence hopes that Elastos can cover markets in several parts of Southeast Asia. Clarence regularly makes visits to various countries as a step in global market networking.
Indonesia itself, with the 4th largest population in the world, only has 2 million people participating in this Crypto market, so that it still has great potential to be developed. Clarence said that the number was quite significant.
In addition, Clarence is aware that Indonesia is still in the early stages of developing blockchain technology and also that public understanding of blockchain is very important. He hopes that Elastos through Cyber Republic can help educate the public about understanding blockchain and cryptocurrency by working with blockchain communities and developers in Indonesia.