Thought I would share this here so everyone here is aware. Someone asked on our reddit: if the ela value comes from the transactions, how is ela handling solving transactions per second issue?And I replied with: Elastos has main chain for ID verification and payment transactions only. For everything else including smart contracts, sidechains will be utilized. Read our beginners guide on what the main chain and sidechains are designed to do. Elastos is not aiming for the fast transaction per second with its main chain. That is not the goal. The main goal of ela mainchain is to secure the elastos network so that is the reason PoW is utilized as it’s merged mining with btc and as we know, PoW has stood the test of time while other consensus mechanisms are still in their infancy. To be clear, a single ela block can contain unlimited number of transactions unlike btc block that can only hold about 1 MB of transactions. This alone will solve scalability issues that bitcoin has. And sidechains architecture solves the scalability issues that ethereum has. Here’s the kicker. Whenever a dapp built on elastos platform tries to perform transactions in ela, this is the only thing that will go through elastos mainchain and because of the architecture elastos has, this transaction will be super fast as the mainchain and sidechains are tightly coupled together. The reason your ela transfer in huobi takes such a long time is because it’s outside the elastos platform. When dapps are built on elastos platform, the ela transfer back and forth between these said DApps and between mainchain and sidechain will be ultra fast. Combine that with ela block being able to store unlimited number of transactions, the TPS issue is gone altogether along with scalability issues.
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