Elrond Perfects the Blockchain

-Virtual currency is run by using Blockchain technology which is the basis for the creation of cryptocurrency. Blockchain is an online global database - which can be used by anyone around the world who is connected to the internet. Unlike other databases that are usually owned by certain institutions such as banks or government, Blockchain is not owned by a third party so it can be accessed by anyone.-

;Some of the benefits we can get by utilizing this technology include:

Broader financial access. The presence of the blockchain makes wider access because it is able to reach all transactions without being restricted and supervised by a third party. Access speed can increase because it uses its own server, not a centralized server.-
.Business runs more efficiently. Blockchain can serve financial transactions anytime and anywhere without any limitations on time and space. This is very efficient for businesses that have partners in other parts of the world.;
;Cheap. One of the other advantages of using Blockchain technology is that it costs less than conventional banking services. -Secure. Every transaction that occurs in the Blockchain can be validated at that time. Existing data can be read by several databases. In addition, the application of digital signatures can also be done to confirm the identity of a person or user who has an account on the Blockchain. The signature can also arrange for licensing to provide data and access history.;

Then how important is Elrond's presence?

;Elrond is here to complete the progress of blockchain technology. Minimum latency, negligible fees and 10k tx / sec. Elrond adopts quite a distinctive Sharding method called Adaptive State Sharding - combining the three kinds of Sharding to ensure better communication with the shards.;

;Elrond is more advanced as it uses the combination of staking and rating systems - determining the eligibility of validators together with an optimal dimension for the consensus class. In Elrond, this is construed as Secure Proof of Stake (SPoS). Going by this, Elrond completely removes the computational high energy consumption waste of PoW algorithm by adopting SPoS. Elrond using Sharding is specifically designed to give 1000x efficient, secure and overall improvement in blockchain performance yet upholding the decentralized objective.;