- Proposes unified interface of blockchain development platforms
- Promotes free transactions for sender and recipient, simplified DApp creation process
- However, red flags & lack of team experience cannot be overlooked
Elisia (ELSA) is a DApp platform, but also a larger ecosystem that allows for migration between different DApp platforms with only minor adjustments. Ultimately, Elisia aims to synchronize all blockchain development platforms into a single unified platform. The Elisia blockchain will be a delegated proof of stake (DPOS) chain with side chains comprised of different algorithms including proof of stake (POS) and proof of work (POW).
The Elisia team is also committed to providing technology that is “lightning fast,” easy to use and free.
However, there are also red flags with Elisia’s project, including hyperbolic language, a lack of team experience and an inorganic social media following, that raise some concern for us.
Allows migration between blockchain platforms with a single click
Businesses are currently developing DApps on a variety of blockchain platforms, but the success of those DApps can be limited by the discontinuation or destabilization of an existing blockchain platform.
Many more businesses hope to build DApps but aren’t even sure where to start — what’s the best blockchain platform? Which is the most sustainable? What team is most experienced?
That’s where Elisia comes in. The team envisions Elisia as a master chain with a unified interface where users can develop public and private applications on Elisia’s chain or any of a variety of sub-chains.
A company’s blockchain platform shouldn’t make or break its business
That’s Elisia’s stance. Most blockchain platforms face one of two major problems, which can seriously hurt business:
- Inability to interact with other blockchains — No existing blockchain platforms allow migration between themselves, according to Elisia, which can shroud a platform built by a small or unknown group in doubt. This doubt can lead to a failure by the business to thrive as the blockchain may never reach its value potential. If there is instability on a DApp’s main network, the company would have to start over and re-build from scratch on a different network.
- Uneven adoption — Since the advent of blockchain platforms, some have struggled to support DApps, while others have been widely adopted and boast tens of thousands of daily users. What leads to the success of some platforms over others? Successful platforms come with a pre-defined tool set to develop an application, according to the Elisia team.
Because a successful blockchain platform is critical to a DApp’s longevity, Elisia’s proposed interface populates an important and underserved area of the market.
Executive team could benefit from more experiential diversity
Elisia lags a bit on the leadership front as most of the team’s experience is relatively homogenous with relevant experience beginning only within the last couple years at the earliest, and in most cases in 2018. The CEO has listed four years as a freelance blockchain developer as the totality of relevant past work experience. The executive team appears primarily comprised of crypto enthusiasts/hobbyists, which could put them at a disadvantage compared to other more seasoned and big name-affiliated teams in the industry.
Elisia’s platform development roadmap
Elisia’s Token Model & ICO Details
- Token price: 1 ELSA=0.0001 ETH
- Total supply: 1,000,000,000 ELSA
- Soft cap: 5,000 ETH
- Hard cap: 50,000 ETH
Elisia’s ICO will begin November 30, 2018 at 6 am GMT. KYC and whitelist are required.
- Token sales: 750,000,000 ELSA (75%)
- Team: 70,000,000 ELSA (7%)
- Airdrop: 50,000,000 ELSA (5%)
- Bounty: 50,000,000 ELSA (5%)
- Reserved: 80,000,000 ELSA (8%)
Allocation of raised funds:
- Development: 60%
- Exchange listing: 10%
- Marketing: 20%
- Legal: 5%
- Operations: 5%
Some real red flags
- Seasoned investors know to be wary of hyperbolic language that over-promises or gives unrealistic expectations. For instance, Elisia claims: “Elisia is the most exciting development in the blockchain world since Satoshi Nakamoto unleashed Bitcoin in 2008.”
- Portions of Elisia’s whitepaper are also copied and pasted directly from QRL’s whitepaper.
- What’s more, Elisia is disingenuous about its media coverage. The company provides six links to where the company has allegedly been featured in the media. Despite being featured on official-looking platforms, most of these “articles” are actually just Elisia’s press release.
- Elisia’s social media presence also raises some questions. The company has nearly 10,000 Twitter followers, but the vast majority of them do not appear to be legitimate accounts — they’re actually bots. All their Facebook recommendations also appear to be variations on the same provided template.
For more information on Elisia’s ($ELSA) token sale details, upcoming ICO news and other platform information, download its whitepaper pdf here.