Elrond (EGLD) — a blockchain protocol that aims to provide extremely high transaction speeds through the use of sharding.
Contents:
Description of the blockchain platform
The project describes itself as a technological ecosystem for the new Internet, which includes fintech, decentralized finance and the Internet of things. First announced in August 2019 and its mainnet was launched in July 2020. The platform has its own token, known as eGold or EGLD, which helps to pay network fees, stakes and reward validators.
Elrond is built by a team of experienced entrepreneurs, engineers and researchers with significant blockchain and technical experience at Microsoft, Google, Intel and NTT DATA. The team includes two PhDs in CS and AI, several math, CS and AI Olympiad champions and a former member of the NEM core team
The uniqueness of Elrond (EGLD)
Elrond positions itself as a blockchain platform for the new internet economy, decentralized applications and enterprise use. According to his economic paper, he aims to build his ecosystem and make EGLD a store of value. To achieve this goal, 263,000 TPS were tested in a public environment with 1,500 nodes from 29 countries, grouped into 50 segments. The network runs on 2169 validation nodes, divided into four segments: three execution segments capable of performing 5400 transactions per second each and one coordination segment, "Metachain". Elrond's adaptive state sharding architecture completely separates state, transactions and network.
Main advantages:
| High scalability | It is the first blockchain network to implement state, network and transaction segmentation. |
| Processing speed | 15k transactions per second and a transaction cost of $0.001. |
Token volume
To increase adoption, the project also supports developers, using the platform, allowing them to receive 30% of smart contract fees as royalties. The company maintains the supply of EGLD tokens for staking on the network during the first year of its existence, with the validator nodes, receiving 36% of the annual interest rate.
You can buy EGLD on cryptocurrency exchanges such as:
- Binance;
- OKEx;
- Bitfinex;
- BitMax.
It can be traded against fiat currencies such as the US dollar and the Indonesian rupiah, cryptocurrencies such as Bitcoin (BTC) and Binance Coin (BNB), and stablecoins such as Tether (USDT) and Binance USD (BUSD). You can buy and sell on both the spot and derivatives markets.