Elrond is a blockchain platform for building high-performance and secure applications (DApps) based on smart contracts. The platform creates a global digital economy with high blockchain interoperability.
The Elrond blockchain network is capable of processing up to 15,000 transactions per second, making it one of the highest performing blockchains. Transactions in Elrond will be confirmed in the blink of an eye. In comparison, Ethereum can process up to 15 tps, and Tron — up to 1000
Elrond is based on the Secure Proof-of-Stake or SPoS consensus mechanism. The network is supported by validators, whose number now exceeds 2169. There will be more information about who validators are and how they are selected in Elrond in the next section.
Each user can become a network validator or delegate EGLD tokens issued on the Elrond blockchain, and this comes with a reward.
In the Elrond blockchain network, the network is divided into segments, the number of which depends on the number of validators.
The blockchain is designed to be flexible in such a way as to provide the required number of segments, depending on the needs of the transaction. Therefore, blockchain networks can adapt to handle the drastic increase in transactions
Elrond uses the TargetShardLoad method, which aims to keep the shard load no higher than 50%, taking into account possible spikes in activity. But at the same time the possibility of low congestion is excluded, otherwise network maintenance will be unprofitable. Elrond also uses an improved PoS method called SPoS.
Where can we buy EGLD?
You can get EGLD directly by credit card, bank transfer, Revolut or ApplePay through one of the many payment processors integrated with Elrond. Elrond's buy.elrond.com page will help you find the most efficient onboarding platform available in your area.