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What is ELA (elcash)?

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What is ELA? ELA is a series of businesses led by the Ela token platform issued

What is ELA (elcash)?

What is ELA? ELA is a series of businesses led by the Ela token platform issued on the blockchain. It has three main functions: (1) trading market and payment network; (2) community governance (including nodes); (3) incentive mechanism (such as mining).

According to public information, ELA is a digital currency issued and operated based on blockchain technology. Its initial circulation is 10 million units, without pre-sale, team allocation, or token sales mechanism. (For official information, refer to the previous article “Universal Basic Income Checks” on Blue Fox Notes)

What is elcash?

According to official sources, elcash is a decentralized network, issued as a governance token for a network. Elcash is a cryptographic asset developed based on the Ethereum blockchain. The project mainly maintains network security and stability by rewarding participants. At the same time, “zero-knowledge proof” and “state channels” are introduced in the protocol, allowing users to verify data with their private keys and send it to nodes.

It is understood that several exchanges support Elash wallet, including Bitfinex, OKEx, etc.

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