Cryptocurrency Elastic $XEL Gains 63% In the Past 24 Hours

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Crypto currency Elastic has risen 63% in the past day.

It is trading at 0.00000313 BTC or about 0.632 WAX.

Elastic is an open-source project that provides the infastructure for a decentralized supercomputer.

Those who need computational resources, model their problem using Elastic’s programming language (Elastic PL) and broadcast it on the network, along with a certain amount of XEL coins. The Elastic miners are then motivated to offer their computational resources in exchange for a portion of those XEL coins.

Elastic offers potential buyers a large parallel computation cluster composed of many CPUs and GPUs supplied by the miners. The network is powered by its own PoW cryptocurrency (XEL) and provides a market-based mechanism to buy and sell computational resources.

It can be traded on BitTrex and Upbit cryptocurrency exchanges.

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