Contributors — like you — have helped to ensure that Elasticsearch is more than code. Get relevant results at unprecedented speed with open and flexible enterprise solutions — powered by Elasticsearch Platform and AI. However, the Elastic Project faces several issues https://cryptolisting.org/ that need to be acknowledged by potential investors. Create a free account to gain access to news, analysis, and real-time alerts on the stocks you follow. A business is an organizational entity involved in the provision of goods and services to consumers.
- With the easing of the inflation rate, members of the Federal Open Market Committee (FOMC) voted to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%.
- Elastic is a Open Source project aimed to create a decentralized trustless SuperComputer by utilizing cryptography and blockchain technology.
- This statistic shows the revenue generated by the leading vendors of supercomputers worldwide, in 2015.
- The size of this portion depends on the amount of work a miner has contributed in relation to the rest of the network.
- The Crypto Fear and Greed Index has plunged from a level of extreme greed to a greed level of 70, suggesting a decline in risk appetite.
Elastic has been in development over a year and provides the infrastructure for a decentralized supercomputer that can carry out computationally heavy tasks over the Internet. The infrastructure is powered by a cryptocurrency, called elastic (XEL), which allows individuals to buy and sell computational resources. Individuals or companies who require computational resources can model their problem using the elastic programming language and broadcast it to the Elastic network together with a certain amount of elastic coin. Elastic is an open-source project that provides the infastructure for a decentralized supercomputer.
Based on multiple technical quantitative indicators, the current forecast for Elastic in 2023 is bearish. However, it’s important to consider both technical factors (price history) and fundamental factors (on-chain activity and development) before making the decision to buy Elastic or not. Elastic price is not correlated with the top 10 coins by market cap with a price of 0.000, excluding elastic (xel) Tether (USDT) and not correlated with the top 100 coins by market cap excluding all stablecoins with a price of 0.000. Currently, the Elastic Fear & Greed Index stands at 71, which means that investors’ sentiment is in the so-called Greed zone. To get a better idea of what could happen to the Elastic price in the future, it’s helpful to also explore Elastic’s price history.
Zennet can be understood as an open market platform for computational resources. According to this, a publisher (the entity who is in demand of computational resources) negotiates a contract with a provider (the entity who provides the requested computational resources) using the blockchain. In this context, the publisher may specify special requirements, e.g., in terms of hardware capabilities that the provider has to match. After the negotiation is completed, the provider creates a virtual machine and gives the publisher SSH access to it. Gridcoin uses a mechanism termed “Proof-of-Research” to measure the amount of computational contribution of the “miners”.
See what’s happening at Elastic
The so-called miners are then motivated to offer their computational resources in exchange for a portion of those ELC coins. The size of this portion depends on the amount of work a miner has contributed in relation to the rest of the network. Using ELC as the driving force, Elastic Coin offers potential buyers a large parallel computation cluster composed of many CPUs, GPUs, FPGAs and other devices supplied by the miners. Bitcoin price has started a fresh upward trend above the important level of $35,000 after a week of consolidation around this level. At press time, the flagship cryptocurrency was trading 3.15% higher at $36,742.52, its highest level in more than a year. BTC’s total market capitalization has climbed by nearly 5% over the last day to $718.6 billion, while the total volume of the asset traded over the same period jumped by 24%.
According to data from Gartner.com, the worldwide revenue generated by the supercomputer market was estimated to be worth around $3.5 billion in 2016. None of the points mentioned above bestow much confidence in the future of elastic coin as an investment. It also takes funding, which will be difficult if the team decides to remain anonymous and it takes mass user adoption. For the latter, you need a strong sales and marketing department, which the project currently does not have not does it have the funding to set one up. Given the nature of this project, which focuses on serving individuals, institutions and companies in need of increased computational power, this is not a cryptocurrency that screams mainstream adoption.
Technology and features
The Crypto Fear and Greed Index has plunged from a level of extreme greed to a greed level of 70, suggesting a decline in risk appetite. Elastic is a blockchain-based platform that allows for the creation and management of decentralized applications. Elastic provides a platform for developers to build, deploy, and manage applications on the blockchain. Elastic also offers a suite of tools that allow developers to debug and monitor their applications. While that may share the spirit of Satoshi, investors do not like that at all. Investors want individuals they can reach out to that can be held accountable for a project.
As a global company, SK hynix also operates sales subsidiaries in ten countries including the U.S., U.K., Germany, Singapore, Hong Kong, India, Japan, Taiwan and China, and four R&D corporate bodies in Italy, U.S., Taiwan and Belarus. For over 70 years, Samsung has been dedicated to making a better world through diverse businesses that today span advanced technology, semiconductors, skyscrappers and plant construction, petrochemicals, fashion, medicine, hotels and more. Samsung electronics, leads the global market in high-tech electronics manufacturing and digital media. According to analysts, with no spot bitcoin ETF approvals yet and the halving event five to six months away, the market is riding on FOMO.
Elastic (XEL) Could Just Be Getting Started
As a result, Elastic miners have the motivation to trade their own computational resources for some of said XEL tokens. 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.
This is similar to the Bitcoin mining process, but without wasting the energy. XEL offers a versatile and flexible system by enabling self programmable tasks instead of hardcoded use cases. The system offers trustless access to computational resources at any time and from any location, while keeping privacy and anonymity. Each component provides a user friendly interface, enabling a straightforward, streamlined journey for the user. The table above shows the number of days which Elastic closed above a certain price level. XEL is down -13.91% against Ethereum and down -10.82% against Bitcoin in the last 1 month.
Personally, I remember him as very intelligent person with very rich English vocabulary. I hope that he will come back to us even without funds incognito with another account. It’s not like “he took all the funds and run away” because before disappearing he rewarded some of community members with some BTC for their work. In April 2017, “Lannister” one the programmers for the Elastic Project left the project and as a result ICO funds were also missing. XEL is just a token, so no smart contract within it, nor any ability to attach a smart contract. Privately owned, xel has been serving the needs of small, medium and large companies around the world.
Still, especially when looking for VMs with special capabilities, Zennet is superior to Elastic. Traders can start mining Elastic with IQMining to try and turn a profit. This is a simple platform with plenty of helpful features, designed to provide users of all experience levels with a streamlined way to access cloud mining. Elastic also has a built-in marketplace that allows users to sell and buy products and services using XEL tokens.