Memory and Silicon Storage Specialist

The total supply of elastic coin is 100 million, and no new coins can be mined or minted. The cryptocurrency started trading on exchanges on June 24, 2017, and can currently be bought and sold on Bittrex and using the Heat Wallet with the former processing the lion’s share of the currency’s $500,000+ daily trading volume. The biggest problem in our eyes, and at the same time the reason why from our perspective Golem does NOT constitute a decentralized computer, is that the submitted results are not automatically verified for correctness. That means, that the result someone sends may very well be garbage and so it has to be checked manually by the requester nodes before he acknowledges the release of the funds.

  1. The size of their reward depends on the amount of work a miner has contributed in relation to the rest of the miners that have also participated in the task.
  2. But instead of burning our BTC in dead address we burned them in Lannister hands.
  3. All this happens \behind the scenes” in a process termed mining without the requirement of manual intervention.
  4. The Elastic Project is a cryptocurrency driven infrastructure for decentralized computation.
  5. As such, it does make sense, as an open source project to remain anonymous as the Elastic project is a group/community.

In this context, Elastic Coin is built on-top of a crypto currency and provides a market-based mechanism to buy and sell computational resources. Buyers, those who need computational resources, model their problem using Elastic Coin’s software development kit and broadcast it, along with a certain amount of XEL coins, to the network. Elastic Coin constitutes a market that matches buyers and sellers of computational resources according to economic criteria. Buyers, in this context, are those who demand computational resources in order to solve some arbitrary and computationally intensive task. They submit their task to the network and attach a certain amount of XEL|that is the currency of Elastic Coin|to it.

XEL-USD Elastic USDCoin Price & Overview

Elastic is an open-source project that aims to build the first decentralized supercomputer. Elastic has been developed over the last year or so and provides the infrastructure for a decentralized and distributed super computer, designed to carry out arbitrary tasks over the internet. In this context, Elastic is powered by a crypto currency (XEL) and provides a market-based mechanism to buy and sell computational resources. Those who need computational resources, model their problem using Elastic’s programming language (Elastic PL) and broadcast it on the network, along with a certain amount of XEL coins.

For the latter, you need a strong sales and marketing department, which the project currently does not have not does it have the funding to set one up. None of the points mentioned above bestow much confidence in the future of elastic coin as an investment. While the project is highly interesting and it is clear how it could add massive value to its target market, it is unlikely that the wider cryptocurrency investors community will pour serious amounts into this new cryptocurrency anytime soon. Given the nature of this project, which focuses on serving individuals, institutions and companies in need of increased computational power, this is not a cryptocurrency that screams mainstream adoption. However, since Elastic uses the protocol to verify “work” and “computational” resources, Elastic is limited to the common denominator in terms of hardware … the CPU. That is, GPU tasks could not be verified by nodes that are equipped with CPUs only (But still, since the operations of Elastic’s own programming language ElasticPL are very basic, GPU enhanced miners are of course possible).

Become a part of our community to find out first about our latest news, or seek assistance if you are facing issues. Accelerate problem resolution with open, flexible and unified observability powered by advanced ML and analytics. Unify app and infrastructure visibility to proactively resolve issues. Not only are there around 1,000 existing digital currencies and assets but there are also new digital tokens launching every week as the Initial Coin Offering (ICO) market is experiencing a massive boom.


ProMOS designs, develops, manufactures and markets DRAM and other semiconductor memory products. ProMOS’s common stock is traded on the taiwan cver-the-counter (OTC) under the 5387 symbol. The execution and monitoring of arbitrary computational tasks is available via the user’s interaction with the software components. Each component provides a user friendly interface, enabling a straightforward, streamlined journey for the user.

The Elastic miners are then motivated to offer their computational resources in exchange for a portion of those XEL coins. The size of their reward depends on the amount of work a miner has contributed in relation to the rest of the miners that have also participated in the task. Using XEL as the driving force, Elastic offers potential buyers a large parallel computation cluster composed of many CPUs and GPUs supplied by the miners. Elastic has been in development over a year and provides the infrastructure for a decentralized supercomputer that can carry out computationally heavy tasks over the Internet. The infrastructure is powered by a cryptocurrency, called elastic (XEL), which allows individuals to buy and sell computational resources.

xel group has partnered with the leading memory manufacturers around the world

Thanks to self programmable tasks, the XEL platform offers a highly flexible system. Therefore, anyone can program unique use cases with XEL’s own programming language (ePL). Take advantage of XEL’s network massive power resources and execute any computational task, while avoiding the cost of deploying cloud services or purchasing your own hardware. I very much like this project and I see huge potential for them in the future. I see the Elastic Project potentially embracing a social entrepreneur approach which may add even more greater appeal to gaining the mass user adoption that would be necessary to take this project to where the Elastic community wants it to go. This statistic shows the revenue generated by the leading vendors of supercomputers worldwide, in 2015.

XEL offers a versatile and flexible system by enabling self programmable tasks instead of hardcoded use cases. This is achieved thanks to the proprietary ElasticPL (ePL) programming language. The system offers trustless access to computational resources at any time and from any location, while keeping privacy and anonymity. This is something that would make any investor somewhat skeptical about whether the team can really pull this project off. The project’s missing road map combined with the fact that it is run by unpaid developers who are working on it “for the sheer joy of it,” will evoke skepticism from investors; it takes more to build a business than an innovative new technology. It also takes funding, which will be difficult if the team decides to remain anonymous and it takes mass user adoption.

Discover everything you can do with Elastic

The so-called miners are then motivated to offer their computational resources in exchange for a portion of those XEL coins. Using XEL as the driving force, Elastic Coin offers potential buyers a large parallel computation cluster composed of many CPUs, GPUs, FPGAs and other devices supplied by the miners. XEL is an open source project aiming to disrupt the way computing power is bought and sold in today’s global market. To achieve this XEL is creating a decentralized trustless super computer, utilizing cryptography and blockchain technology. The platform can execute a vast array of tasks in need of computational resources in a P2P distributed way.

The system is built and designed this way from ground up to allow user configurable tasks. The Elastic programming language allows Elastic job authors to express complex algorithms to be solved for bounties, paid for with XEL. The language is loosely based on the C programming language incorporating many of the basic operators and functions. There are no FOR, WHILE, or DO loops in Elastic PL in order to ensure that programs will not run indefinitely. For over 70 years, Samsung has been dedicated to making a better world through diverse businesses that today span advanced technology, semiconductors, skyscrappers and plant construction, petrochemicals, fashion, medicine, hotels and more. Samsung electronics, leads the global market in high-tech electronics manufacturing and digital media.

According to privacy, the SSH access (if not used via a VPN or TOR) may expose the IP address (and so the own identity) to the provider. According to data from, the worldwide revenue generated by the supercomputer market was estimated to be worth around $3.5 billion in 2016. There is clearly a race to build the very best decentralized supercomputer. Based on my research, the Elastic Project, is in the forefront of this technology.

This includes for example the verifiable computation part, the prunability of the blockchain, or the security of the blockchain in terms of a certain type of attacks. Elastic Project is one of those platforms, which is entirely decentralized. It is an open source project with contributors from around the world. In fact, Elastic Project was started with a vague idea on Bitcointalk that interested me, which I have then pursued and learnt more once I was involved.

With other super computer models, If you want to do 6 different tasks you need 6 separate use cases. As the Elastic PL is further developed, so the diversity of tasks will become more complex. Currently, only tasks which explore a search space can be performed, and not tasks which are divided into multiple packages (like rendering divides a large image into many smaller tiles). SK hynix has four production facilities in Wuxi and Chongqing, China as well as domestic business sites in Icheon and Cheongju.

Albeit, on their site, Elastic does state that donations can be used for whatever they project wishes. And as most people know donations are just that, donations without strings nor conditions attached, and that unfortunately includes a rogue contributor to the project disappearing elastic (xel) and the funds as well. These will be released to a greater audience (or at least a part of them will), via the large exchanges and then the buyers purchase them from there to pay for their computational task. We live and breathe memory and storage, but it’s not just a work thing.