📌Positioning

Elysium is not yet another blockchain

Elysium is a next-generation innovative blockchain. And this is not just a marketing slogan! It is hard to tell what aspect of blockchain technology was left unchanged during the Elysium development.

You can learn more about the unique technological approaches in the related sections. But more important than any technical solution is the problem the computer system solves.

The success of Bitcoin has been so resounding, and the capital earned by the first enthusiasts is so mind-boggling that the crypto industry has spawned a new gold rush. Today if you add the word "blockchain" to the project description, its capitalization will immediately skyrocket by several orders of magnitude. But blockchain itself is not a silver bullet - more than 500 Bitcoin clones appeared, but how often do you hear about them?

Satoshi Nakamoto used blockchain technology to create a decentralized bank - the most reliable version of a bank. That is why Bitcoin clones do not have a chance: why put your money in a small, unknown bank when you can keep it in the biggest and most reliable one?

Vitalik Buterin, by combining blockchain and smart contracts, created a distributed computer that is not afraid of a nuclear war (well, it will definitely survive a couple of strikes).

The main criterion for the success of Bitcoin and Ethereum was that they were the first to solve a particular problem, and not because they used blockchain technology. The problem simply would not be solved without it.

Although they are using the same technology, there is quite a lot of confusion about their positioning. Bitcoin is incomparable as an old reliable bank, while Ethereum is a full-fledged computer. The nuance is not to confuse their functions.

Ethereum is a computer, not a bank!

And since everyone can write programs for that computer - no wonder it is overflowing with malware. It happens because developers can leave backdoors, which will be difficult to find even for a professional. Therefore, at the level of smart contracts, there is no trust that many blockchain evangelists declare. Nowadays, the fraud level in the blockchain space is almost the same as in the medieval market. Many pickpockets are trying to steal your money, while scammers want to swindle for their own good.

We see the task of Elysium not to be another decentralized bank or computer but to create a convenient and safe economic environment. Where the system will warn you if you try to send money to a smart contract that can be emptied by its owner. Where if you want to look into the logic of a smart contract, you do not have to be a developer to understand it. Where anyone, not even a programmer, may implement quite complex counterparty interactions. And where even the stolen seed phrase does not grant access to the user's funds.

And if Bitcoin is a solid bank and Ethereum is a reliable computer, then Elysium is a safe market.