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Elastic (XEL)

XEL

Elastic is an open-source project that provides the infastructure for a decentralized supercomputer.

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Website: Elastic

Algorithm: N/A
Proof Type: PoW
Fully Premined: no

Elastic is an open-source project that provides the infastructure for a decentralized supercomputer. r, designed to carry out arbitrary tasks over the internet. 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. The Elastic miners are then motivated to offer their computational resources in exchange for a portion of those XEL coins.

Elastic offers potential buyers a large parallel computation cluster composed of many CPUs and GPUs supplied by the miners. The network is  powered by its own PoW cryptocurrency (XEL) and provides a market-based mechanism to buy and sell computational resources.