Elastic (XEL)

Elastic Token Profile (PDF)

Analyst’s Note: One day after Elastic’s ICO, “Lannister,” one of the anonymous founding core developers of the team, left the project and took an undisclosed amount of ICO funds.

Elastic characterizes itself as a protocol for distributed computation that administers arbitrary computational tasks between buyers, who need computational resources and sellers, who have idle resources that they are willing to sell for ELC tokens.  Elastic utilizes its own programming language, Elastic PL, which is based on C. Competitors to Elastic include Golem, Zennet and Gridcoin. Looking at Elastic’s Github repository, it is clear that there has been minimal development on the project since the ICO.