Elastic is a project which seeks to create a virtual global supercomputer on a blockchain. This supercomputer, which can be built on nearly any existing blockchain, utilizes a Proof-of-Work consensus. On this global supercomputer, developers can use Elastic PL (Elastic’s own programming language, a modified version of the C programming language) to create their own tasks on the blockchain. Elastic PL enables developers to include multiple tasks in one use case, thus streamlining the entire supercomputer. Nodes on the blockchain that Elastic will run on all execute different small parts of a code or task instead of having every node execute the same thing. This features enables all the nodes to bundle their power together into one big supercomputer.
Elastic (XEL) is the digital token that rewards nodes for the use of their computational resources.