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Elementrem is a blockchain that is realized through decentralized applications built around Smart Contracts. Elementrem is possible through the decentralization of application architecture that is free from the existing centralized system shortcomings.
This is a key technology that enables a trust service in an untrusted environment.
Smart contracts are authenticated and operated by all the nodes of the Elementrem Blockchain. Mining nodes will be rewarded by receiving “Element” for providing computational resources. Element, designated ELE, is the monetary unit of the Elementrem network. This is further broken down into MEY, the smallest unit of value transferable through ELE. These processes are a kind of Turing complete machine. By its very nature, Turing complete machines must pay the cost of resource use. This payment is called GAS and will be paid with MEY. Gas is not going anywhere; it is just discarded from the network to prevent the waste of resources due to spam, useless code and infinite loops.
As a result, Elementrem has both the value of a Crypto Currency and a Crypto Fuel of smart contracts.
