Elastos to Launch BTC-Backed Stablecoin BTCD on August 1
Elastos has announced the upcoming launch of BTCD, a stablecoin backed by native Bitcoin, scheduled for August 1. The asset is being developed by NBW Labs using Elastos infrastructure. The project aims to combine Bitcoin’s value and security with the utility of a stable digital asset. The release marks a new phase in the ecosystem’s BTCFi initiative. Refer to the official tweet by ELA: It’s Happening! On August 1st, stablecoin goes live. Backed by native , built with Elastos infrastructure by NBW Labs.Bitcoin's value and unmatched security will finally back a stablecoin!Bitcoin's productive era is here! Stay tuned... ELA InfoElastos is a project aiming to create a secure and decentralized internet platform. This platform allows developers to create applications that don’t interact directly with the internet but instead run through the Elastos Runtime.Key features and objectives of the Elastos project include:1. Decentralization: Elastos aims to deliver a decentralized internet, where applications and services aren’t controlled by centralized entities.2. Security: the platform is designed so that applications cannot directly access the internet. This structure helps mitigate a significant portion of cyber attacks and breaches.3. Smart Contracts: Elastos provides an environment for the development of smart contracts, which can be utilized to craft decentralized applications (DApps).4. Proprietary OS: Elastos has developed its operating system, which can run on various devices, thus providing a secure environment for applications and data.5. Blockchain Integration: the primary Elastos blockchain provides the main security and identification features, while side chains can be created for each application or service, ensuring scalability.ELA is the native token of the project, used for transactions within the network and also for rewarding participants who support the network.