Elastos Unveils Merged Mining Partnership With Bitmain

He outlined the company's broader vision. "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 Internet-of-Things (IoT) network. This is the Internet of the future, where people will own their data, and connect directly and securely."

Bitmain co-founder Jihan Wu expressed strong confidence in the partnership. "At Bitmain, we strive to be at the forefront of recognizing new, innovative technologies in the blockchain space as well as the cutting edge teams leading the way to mainstream adoption — Elastos is one of those projects," he said.

Wu added: "There are very few projects we have opened our community up to, and there are currently only three merged mining with Bitmain. I have an immense amount of faith in the potential impact of Elastos, which is not limited to the blockchain space alone."

The Chinese startup structured itself around building a secure web environment through blockchain technology. Decentralized applications run on Elastos' platform without linking to the traditional internet while scaling to millions of users. The project has backing from Foxconn, the Chinese Central Government, Tsinghua University, Bitmain, and NEO.

Beyond the mining partnership, Elastos rolled out Cyber Republic, a community portal for coordinating ecosystem development. The company launched CR100, which funds development of 100 decentralized applications on Elastos. It also released Elastos Trinity, a test environment for its Smart Web Alpha. Trinity runs on Android, iOS, Windows, and Mac and acts as a gateway between the conventional internet and Elastos's infrastructure.

Elastos has signed partnerships with Zapya and the TD-SCDMA Industrial Alliance this year. The company plans to sustain this momentum.