Elrond Network is a project in which talented developers have created a blockchain-based platform that is able to solve the main problem with scalability. They intend to do this through the mechanism of SPoS (Secured Proof of Stake).
It is safe to say that today the Elrond developers have already achieved very good results. The team has achieved a speed of more than 3750 TPS per second and this is just the beginning. At the same time, all the terms specified in the Road map are steadily observed.
In this market segment, the Elrond project has its closest competitors, who are also actively working on the problem of scaling. First of all, it is EOS, Zilliqa, Quarkchain and PChain. But the Elrond Network development team has confidence that they will beat their competitors and these are not empty promises. This confidence is based on the systematic development of the project.
The developers of Elrond intend to make such a platform that will provide stable and high bandwidth, as well as a good relationship between different networks.
Elrond has an ERD token that will be used to process transactions as well as to manage the network. With the help of master nodes, the smooth operation of the entire network will be carried out, and ERD holders will be constantly encouraged with additional tokens.
Special algorithm SPoS (Secured Proof of Stake) will provide the necessary security of the network. With this algorithm, consensus is achieved through random selection of validators, which means that the risk of getting a malicious attack on the network is drastically reduced. Such a mechanism makes the whole system more decentralized and secure.
In the near future, the blockchain developed by the Elrond team will process more than 10,000 transactions per second and simultaneously support the operation of a huge number of mobile applications.
Elrond Network is a very promising project that can revolutionize the cryptocurrency market. Due to the compatibility with different operating networks Elrond is able to become a leader among the developers of blockchain platforms. For a deeper understanding of the concept, all potential investors need to get acquainted with the White paper of the Elrond Network project, in which all the necessary technical information is provided in a very understandable language. Join the many followers of the Elrond Network project to make the world around us a much better place.
Elrond Announcements: https://t.me/ElrondNetworkAnn
Elrond Website: https://elrond.com
Twitter: https://twitter.com/ElrondNetwork
Facebook: https://facebook.com/ElrondNetwork
Subreddit: https://www.reddit.com/r/elrondnetwork/
Medium: https://medium.com/elrondnetwork
Bitcointalk: https://bitcointalk.org/index.php?topic=4430681.0
White paper: https://elrond.network/files/Elrond_Whitepaper_EN.pdf