What is Elrond (EGLD)? Here is Crypto Money EGLD Token in All Details

What is Elrond (EGLD)?

Elrond is a highly efficient public blockchain that focuses on providing security, efficiency, scalability and interoperability using two key elements: Adaptive State Sharing and a new Secure Proof of Stake (“SPoS”) consensus mechanism.

You process up to 10000 TPS with 5 seconds delay and minimum cost (based on 5 parts). The project aims to be a platform for the easy distribution of programmable money and dApps and thus the backbone of an open, unauthorized, unlimited, globally accessible internet economy. Elrond’s goal is to be high throughput, fast processing speed and low transaction cost. A platform that enables efficient and competitive dApp user experiences in real-world use cases.

Elrond believes its high scalability, fast processing speed and low transaction cost make it very suitable for machine-to-machine transactions and the IoT economy.

Key elements include:

Elrond is a high-throughput public blockchain that aims to provide security, efficiency, scalability and interoperability through the Adaptive State Sharding and Secure Proof of Stake consensus mechanism.

Elrond; It was created by a team of entrepreneurs, engineers and researchers with a PhD in Computer Science (“CS”) and blockchain backgrounds, with technical experience at Google, Microsoft, Intel, NTT.

Elrond is currently in the testnet stage and aims to be a platform for the easy distribution of programmable money and dApps, thus becoming the backbone of an open, unauthorized, unlimited, globally accessible internet economy.

Elrond is a complete redesign of the blockchain architecture to achieve global scalability and almost instant transaction speed.

Blockchain and network data

The blockchain has low system requirements and can run on everything from an ordinary PC to T2 mid AWS machines. The blockchain includes cycles of ~ 24 hours and rounds of ~ 5 seconds. All validators in Elrond’s network will be split into multiple chunks that only need to synchronize the state of the existing parts and process the transactions only for their current parts. To avoid collusion between validators, at the end of each period, as many as bir of the validators in one part will be remixed into other parts.

Let us remind you that Elrond coin is listed on Binance.

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