Hello, today, the continuation of the review of the Elrond project, are you already bored? Then let's go! I described the technical part of the project recently, but due to the fact that the project is quite large and technologically advanced, I didn’t want to pile up a lot of too clever information right away so as not to overload you, today we will calmly continue to get to know Elrond and understand it.
Another very important feature of the project is compatibility! What is this and what am I talking about at all ?! Today there are a large number of blockchains of different sizes, there are quite old, there are young ones, but there is one unifying property for everyone - these are customers and users who use our technologies, so it is so important that they do not experience discomfort, it is necessary to create all the conditions for the unhindered use of the blockchain technology.
This obstacle is precisely compatibility, or rather, incompatibility today. Due to the fact that most blockchains are incompatible with each other, users have to resort to a third party, the so-called intermediary in the form of an exchange for example or other trading platforms, in order to transform their tokens from one state to another, for example, to transfer funds from the EOS blockchain to NEO or ETHEREUM. There are significant drawbacks to this, for example, the fact that you have to go through the KYC procedure, as well as resort to the services of centralized resources, which completely cancels out the very idea of decentralizing the blockchain.
Elrond completely changes the concept of how the blockchain will interact with other networks and creates a completely new technology that will allow you to convert assets directly without intermediaries.
The first such experience will be interaction and full compatibility with the Ethereum blockchain, which will allow you to transfer, convert Elrond tokens to ERC20 decentrally, without the help of an intermediary, which leads to the anonymity and security of using such bridges built by the Elrond team. But the team’s plans are not limited to Ethereum, in the future any other blockchain will be able to be compatible and work with Elrond, including state blockchains.
By the way, I hasten to please you - the Elrond project’s testnet has already been launched for a long time, it’s called “Zero to One”, you can test it, and also see its statistics and status at the link: TestNet
5 shards have already been launched , which cope well with a load of 10,000+ transactions, just imagine what the speed will be when starting mainnet with a large number of nodes!
The scope of the Elrond blockchain is quite extensive and includes such large areas as: Finance, game industry, medicine, IoT and others.
The project team is confidently moving towards its goal, observing passing all the checkboxes on the roadmap, the more interesting it will be to watch them.
Elrond is a goal-oriented, progressive and growing project that will surprise us more than once with its technologies in the future!
More information on the project Elrond Network please visit their website listed below:
WEBSITE: https://elrond.com/
WHITEPAPER: https://www.elrond.network/files/Elrond_Whitepaper_EN.pdf
ANN: https://t.me/ElrondNetworkAnn
TELEGRAM: https://t.me/ElrondNetwork
TWITTER: https://twitter.com/ElrondNetwork
FACEBOOK: https://facebook.com/ElrondNetwork
MEDIUM: https://medium.com/elrondnetwork
Author
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