Refer to the official tweet by ELA:
ELA Info

Elastos is a project aiming to create a secure and decentralized internet platform. This platform allows developers to create applications that don’t interact directly with the internet but instead run through the Elastos Runtime.

Key features and objectives of the Elastos project include:

1. Decentralization: Elastos aims to deliver a decentralized internet, where applications and services aren’t controlled by centralized entities.

2. Security: the platform is designed so that applications cannot directly access the internet. This structure helps mitigate a significant portion of cyber attacks and breaches.

3. Smart Contracts: Elastos provides an environment for the development of smart contracts, which can be utilized to craft decentralized applications (DApps).

4. Proprietary OS: Elastos has developed its operating system, which can run on various devices, thus providing a secure environment for applications and data.

5. Blockchain Integration: the primary Elastos blockchain provides the main security and identification features, while side chains can be created for each application or service, ensuring scalability.

ELA is the native token of the project, used for transactions within the network and also for rewarding participants who support the network.
source: https://www.tradingview.com/news/coindar:139ae70ce094b:0-elastos-adds-ela-rewards-to-kumining-btc-mining/