Another month and another period of progress for Cyber Republic. 2023 continues to be a building season for Elastos and CR. The Cyber Republic Website has officially changed hands to the Secretariat to foster greater decentralization in line with the principles of Web3. An older Proposal concerning bringing asset-backed stablecoins has formally come to a close. Sash with Elacity recently developed a Suggestion to establish one of the Elastos core technologies, Runtime, back in the fold.
Team Elavation has been busy starting campaigns and marketing initiatives, bringing more awareness to Elastos. They’ve also been integral in educating the community and other crypto parties about the new Bonded Proof of Stake (BPoS) coming into the fold in April. As always, CR is a place where all sorts of work is being done to make it one of the most balanced and inviting communities. So let’s jump into the details.
Proposal #110- CR Website Maintenance
The CR Secretariat recently came out with a Proposal to take over as the lead person to manage the maintenance of the CR website. This Proposal was presented mainly to continue on the path of decentralization for Elastos. The Secretariat will ensure all the information on CR website about the Council and various Proposals and Suggestions are correct and up to date. Another one of the Secretariat’s tasks is making sure the CR website is functioning up to par.
Proposal #57- From the Orchard Team- Asset backed Stablecoins coming to Elastos
In late 2021, Elastos Orchard passed a Proposal to bring stablecoins onto Elastos. Orchard, a business development team within the Elastos community, had partnered with eMoney, a provider of asset-backed stablecoins. This partnership was supposed to allow eMoney’s stablecoins to circulate on the Elastos Web3 platform, providing a gateway for millions of Europeans to enter the ecosystem. eMoney had built a bridge on the Cosmos blockchain and was supposed to do the same to the Elastos Smart Contract Chain.
The Asset-Backed Stablecoins Proposal has been deemed unfeasible as eMoney paused its bridge-building efforts over security concerns and suspended its stablecoin-backed asset operation. In addition, Sash, an ex-Elastos Orchard member, returned his allocated ELA from the Proposal, leading to the official closure of the Proposal.
Despite this setback, eMoney has introduced Elastos Orchard to Axelar, their Cosmos bridge partner. Dialogue has continued between Elastos Orchard and Axelar in pursuit of providing relay opportunities to Elastos.
Suggestion #214- ElastOS Runtime – reinstating the missing pillar with Elacity
Founder Rong Chen always envisioned building a Smart Web for a more trusted, secure, and safe environment for all. The Elastos blockchain enables the establishment of trust for the network. Elastos Carrier manages the traffic on the peer-to-peer network. Elastos Hive offers a decentralized storage solution that provides a secure and private environment for users to store and manage their data. The Elastos SDK allows dApps to access their DIDs, Hive, and Carrier services on the Smart Web. Based on an initial hiccup with Apple, the Runtime, the last pillar of the Elastos ecosystem, was not completed.
Through his latest Suggestion, Sash from Elacity is determined to build the last pillar of the Elastos tech stack completed by the end of the year. Elacity has a solution to bring the runtime environment back before the EF dissolves. They seek to deliver the Elastos vision of a secure, trustable, decentralized internet where apps and services are separated from direct internet access. Sash gave a brief overview of the Suggestion in a video he tweeted.
Elacity aims to build a secure, platform-independent Personal Cloud Computer (PC2) runtime using WebAssembly (WASM) for sandboxed DRM-powered data commerce and SmartWeb dApps. The program will connect to Essentials with Elastos ports and incorporate DRM into a custom-built PC2 on-demand service, delivering the SmartWeb V1 vision. Leave your comments and like/dislike the suggestion to show your support or constructive criticism of the initiative.
Proposal #108- Elavation Team: Phase 2 Approval
In late January, Team Elavation’s Phase 2 Approval was officially passed via Proposal #108. The Proposal was crafted to support a dedicated Elastos Growth team focused on Business Development, Marketing & PR, and Strategic Ecosystem Alignment. The team has aimed to position Elastos and the Cyber Republic DAO (CR) more firmly in the Web3 conversation and address concerns such as the lack of a go-to-market strategy and deficiencies in leadership, operational excellence, and trust.
Team Elavation has broadly impacted many areas for Elastos in March. The Growth team conducted a podcast with the lead Essentials developer Benjamin Piette. The group has been busy developing partnerships, including Build It Merchants and Bitstack. Most recently Elastos partnered with OTSIT Group to deploy Elastos Web3 services throughout OTSIT’s housing projects across Southeast Asia.
Jamie Read of the Growth Team gathered industry experts to get a Twitter Spaces on owning your digital destiny and how Elastos provides the tech and environment for that reality. Elastos Growth Lead Fakhul Miah attended and spoke at an Alibaba Cloud Event in Dubai. Between Business Development, and Marketing & PR, Elavation has produced a lot of valuable connections and materials for the Elastos ecosystem.
2023 is a big year for the Elastos project. The platform will undergo a new consensus layer, changing from Delegated Proof of Stake (DPoS) to Bonded Proof of Stake (BPoS). This new consensus changes the outlook for prospective validators and stakers in the overall Elastic Consensus. The idea to make this change was done through a Proposal back in late 2021 written up by longtime Elastos contributor Yipeng Su, and his vision has now come to fruition and will change the system for the better.
Business development, marketing, and PR have taken a step forward based on the work Team Elavation has put in. The early years of the Elastos project was based on building the technology and ensuring the code was on point. Now is the time to showcase the true capabilities of the tech stack and how it can improve people’s lives.
While marketing and PR are areas in which Elastos has deemed pertinent to ramp up, one aspect of the technology is yet to be fully developed. Sash from Elacity is determined to make his Suggestion on Runtime a Proposal and finish what Elastos started making Runtime an executable sandbox environment for dApps to be run on.
It’s all hands on deck for Elastos this year. Many teams and community members are putting their heads down and working to make Elastos the Web3 destination for all to participate in. Stay tuned for all the latest developments in CR via the Monthly Updates.
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