The platform can execute a vast array of tasks in need of computational resources in a P2P distributed way. Bitcoin price was in the red on Friday, dropping below the important level of $30,000 as cryptocurrencies continue to underperform, indicating bearish cryptocurrency sentiment. The global crypto market cap has slipped to $1.2 trillion over the last day, while the total crypto market volume increased by 6.67% over the same period.
- As a specialist distributor, we aim to provide a fresh approach to the traditional business; allowing both our suppliers and customers to achieve their business objectives.
- The company has created its own proprietary programming language (called ElasticPL), which accounts for one of four major elements of the project – a dedicated blockchain, a core client and the XEL miner.
- Elastic cryptocurrencie coin is a new cryptocurrency that uses the blockchain technology.
- The so-called miners are then motivated to offer their computational resources in exchange for a portion of those ELC coins.
The Index has slipped from a Greed level of 64 seen last week to a neutral level of 55. This shows that investors have entered conservation mode, which could prompt them to look for alternative investments. Bitcoin price has been in consolidation mode for the past few days amid immense market pressure and macroeconomic headwinds. Global uncertainty, market volatility, and economic concerns in the United States and the United Kingdom have been weighing on the broader crypto market, pushing the Bitcoin price lower, below the key resistance level of $31,000. It also takes funding, which will be difficult if the team decides to remain anonymous and it takes mass user adoption. 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.
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With interest rate hikes by global central banks and persistent inflation, the global crypto market is likely to be under pressure in the coming days. Last week, the US Federal Reserve announced a quarter percentage point increase in its interest rate in its July meeting, puli inu taking benchmark borrowing costs to their highest level in more than two decades. To make more sense of this new asset class, BTCManager regularly highlights new cryptoassets to gauge whether or not they could potentially turn into profitable investments for its holders.
Elastic cryptocurrencie coin is designed to provide a fast, efficient and secure way for people to buy and sell goods and services online. 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. XEL offers a versatile and flexible system by enabling self programmable tasks instead of hardcoded use cases.
Global Coin Report
If the market welcomes a decentralized supercomputer with open arms, then Elastic could turn into a mega project, provided its team manages to deliver. The users that need computational resources broadcast it in the network along with a certain amount of XEL, while the miners offer their resources in exchange for XEL. Elastic is a blockchain platform that allows for the creation of decentralized applications.
Through innovative, reliable products and services; talented people; a responsible approach to business and global citizenship; and collaboration with our partners and customer, Samsung is taking the world in imaginative new directions. The main Elastic (XEL) exchanges are Binance, Bitfinex, and Kucoin. Litecoin (LTC) – An open source, global payment network that enables instant payments to anyone in the world. The ICO lasted from February 29, 2016, to August 19, 2016, and managed to raise around 710 BTC for the total supply of 100,000,000 XEL. The table above shows the number of days which Elastic closed above a certain price level.
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. This is something that would make any investor somewhat skeptical about whether the team can really pull this project off. Elastic cryptocurrencie coin is a new cryptocurrency that uses the blockchain technology. It was created in March 2017 and is based on the Ethereum platform.
Elastic Price Closing History by Level
There is no real way to buy Elastic (XEL) other than through an exchange. XEL can be bought on some exchanges, such as Binance and Bitfinex. The deputy finance minister Alexei Moiseev told reporters on Tuesday that Russia acclaims its position not to ban cryptocurrencies.
An environment of higher interest rates tends to be bearish for risk assets such as stocks and particularly, cryptocurrencies. Elastic (XEL) is attracting a lot of attention in the cryptocurrency space right now. The token is up close to 10% on the USD over the last twenty-four hours and a little over 4% on BTC. Interestingly, this isn’t one of those coins that has rocketed during 2017 (the company behind it only conducted its ICO back at the end of June) and this is likely one of the factors that’s driving the increase we are seeing right now. Furthermore, the Elastic Project refers to itself as an experimental non-commercial project, and it specifically stated in its ICO that the funds raised were donations. While there is obviously nothing wrong with launched non-commercial projects involving cryptocurrency, from an investor’s point of view that raises skepticism.
- The total supply of elastic coin is 100 million, and no new coins can be mined or minted.
- The digital asset is down by more than 2% in the past week and 5% in the past month.
- ProMOS technologies , one of the world’s leading dynamic random access memory (DRAM) companies, was founded in december 1996.
- Traders can start mining Elastic with IQMining to try and turn a profit.
- The asset’s total market cap has slipped to $580 billion over the last day, while the total volume of the BTC traded over the past 24 hours jumped by 6.76%.
- Both, publishers of the task and the ones performing the task are not required to share their private information at any stage of the process.
Elastic is a Open Source project aimed to create a decentralized trustless SuperComputer by utilizing cryptography and blockchain technology. It creates a complex platform that can execute a vast array of tasks in need of Computational resources; all is done in a P2P distributed way inside of the Elastic platform. Elastic offers a versatile and flexible system by enabling self programmable tasks instead of hardcoded use cases. This is achieved thanks to the proprietary ElasticPL programming language. The system offers trustless access to computational resources at any time and from any location, while keeping privacy and anonymity.
Other Elastic facts
After creating your wallet, you will need to add some Ethereum (ETH) tokens to it. You can do this by clicking on the “Add Tokens” button and entering the amount of ETH tokens that you want to add to your wallet. Once you have added ETH tokens to your wallet, you will need to send them to the address that is displayed in the “Send Ether To” field of your wallet’s main screen. Finally, you will need to verify your Ethereum (ETH) token holdings by clicking on the “Verify Your Token Holdings” button and entering the address of a Ethereum (ETH) node that you trust.
Instead of using a central point of authority, XEL uses blockchain technology to form the consensus, and uses a special consensus-based protocol for work distribution, verification, and collection. Future developments on top of the existing platform are possible in a modular way. For instance, it will be possible for developers to implement smart contracts on top of Elastic VM (Virtual Machine) in the future. 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. 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.
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. Complete cryptocurrency market coverage with live coin prices, charts and crypto market cap featuring coins on 658 exchanges. Bitcoin price has been in consolidation mode for the past few weeks amid the continuation of the profit-taking trajectory that has been gathering pace in recent weeks. The digital asset is down by more than 2% in the past week and 5% in the past month. Bitcoin’s total market cap has also crashed over the last day, while the total volume of the asset traded over the same period jumped higher. None of the points mentioned above bestow much confidence in the future of elastic coin as an investment.
It is totally free, open source project, that is independent of commercial influences. The platform offers a variety of features, including support for smart contracts and tokens, as well as user authentication and governance mechanisms. I founded Elastic in 2013 as a way to make it easy for people to manage their finances and businesses online. Elastic is the first platform to offer real-time financial insights and tools for tracking your spending, income, and assets. Crypto exchange platforms ease the trading of cryptocurrencies for other assets such as fiat and digital currencies. A look at the Crypto Fear and Greed Index shows a lack of confidence in the crypto market by investors.
If this is the case, it makes for a risky trade, given that we are probably going to need some sort of fundamental development to serve as support for the action we are seeing at some point. There could be plenty of room on the upside of the equation before any such fundamental development is required and – for us – this makes Elastic and its XEL token a real potential winner at current prices. While that may share the spirit of Satoshi, investors do not like that at all.