I would like to start the cycle of familiarization with the Elrond project! Yes, yes, this is the very famous and sensational project that recently conducted its IEO on Binance, in addition, it was on the radars for a long time and many critically oriented media wrote about it even before IEO, so I'm not surprised that it came out on Binance, since the project is really worthy.
Why did Elrond please everyone and why did it make so much noise in the food space? Everything is quite simple, an ideal success formula, it is a combination of the most important factors concentrated in one project, and the first such factor is the idea: Elrond is developing a high-speed blockchain that will improve this technology up to 1000 times, through unprecedented network scalability, as well as a high level of security and speed while maintaining all the necessary and important decentralization parameters.
Elrond introduces a completely new blockchain mechanism called “Adaptive State Sharding mechanism”, the essence of which is the more nodes are connected, the more parallel load is distributed between them and processed much faster.
The project also offers a new type of consensus, called "Secure Proof of Stake", its essence is that it randomly selects a consensus group, thereby preventing an immediate type of attack on the network.
Elrond creates completely innovative technologies in order to improve the entire blockchain ecosystem as a whole, this is exactly what is so lacking - a fast blockchain, transactions of which run in seconds, even for such a formed and already mature blockchain like Ethereum, transactions are rather slow, and if you increase the amount of gas, it turns out very expensive.
Also being a scalable blockchain, Elrond is open to developers and is trying to make its technology convenient for use and building other Dapps and projects based on it, in the near future I think we will see new projects built on Elrond, but for now we can observe its development, because the project is still young and promising, mainnet is scheduled for the 4th quarter of 2019, and until this moment the team has a lot of work.
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
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