Elastos (ELA) is the basic token of the Elastos blockchain platform. It is used to pay for transaction fees, trade on the platform and invest in crypto assets. Elastos mining is merged with Bitcoin to produce tokens every two minutes. The total supply of ELA tokens is limited to 33,000,000 ELA.
The team of Elastos wants to create a new internet that would operate based on blockchain technology. There are also plans to support decentralized applications (dApps).