Elrond is a Layer 1 distributed transactional computation protocol that relies on a sharded Proof of Stake architecture.

TEAM

Beniamin Mincu

CO-FOUNDER & CEO

Lucian Todea

CO-FOUNDER & COO

Lucian Mincu

CO-FOUNDER & CIO

Felix Crisan

HEAD OF RESEARCH

Radu Chis

HEAD OF TECHNOLOGY

Adrian Dobrita

HEAD OF ENGINEERING

Iulian Pascalau

CORE DEVELOPER

Sebastian Marian

CORE DEVELOPER

Robert Sasu

CORE DEVELOPER

Cristian Corcoveanu

CORE DEVELOPER

Andrei Marinica

SENIOR SOFTWARE ENGINEER

Camil Ioan Bancioiu

RESEARCH ENGINEER

Beniamin Drasovean

SOFTWARE ENGINEER

Bogdan Rosianu

SOFTWARE ENGINEER

Mihai Iuga

SOFTWARE ENGINEER

Dana Ilie

SOFTWARE ENGINEER

Radu Paun

SENIOR SOFTWARE ENGINEER

Adrian Scanteie

SENIOR SOFTWARE ENGINEER

Constantin Tovisi

UI & UX

Adina Vulpe

UI & UX DESIGNER

Dan Voicu

HEAD OF MARKETING

Daniel Serb

HEAD OF BUSINESS DEVELOPMENT

Sever Moldovean

PROJECT MANAGER

Andrei Adam

HEAD OF OPERATIONS

Valentin Lup

SENIOR SYSTEM ADMINISTRATOR

INTRODUCTION

Elrond is a distributed transactional computation protocol which relies on a sharded state architecture and a secure Proof of Stake consensus mechanism. While most other blockchain networks require custom hardware and high energy consumption, Elrond runs on average computers.

By employing sharding, a method of parallelizing data & transactions processing, Elrond’s performance will scale up with the number of computers joining the network, reaching more than 100.000 transactions per second while growing increasingly decentralized.

OVERVIEW

What is Elrond?

Elrond is a Layer 1 distributed transactional computation protocol that relies on a sharded Proof of Stake architecture.

Elrond combines three types of sharding; state, transactions and network, to produce a solution called “Adaptive State Sharding” that improves communication among shards and increases network performance through parallel processing. The network is built on WASM and carries its own Virtual Machine called the Elrond Virtual Machine. This allows code to be written in C++, C, Rust typescript and compiled into WASM.

Why Elrond?

While most other blockchains require custom hardware and high energy consumption, Elrond runs on average computers. By using sharding, Elrond’s performance will scale as more computers join the network. Combined with its “Adaptive” component, the architecture allows for dynamic network configuration to maintain a high level of security while scaling with demand. By solving some of the hardest consensus and sharding problems in the blockchain space, Elrond provides a very high level of performance on a network made of inexpensive computers, resulting in a very low cost per transaction.

Due to its transaction speed, cost reduction, scaling, and security, Elrond can be ideally used for cryptocurrency exchanges, transaction validation, documentation of data generated through payment transactions, contracting or the transfer of rights, and more.

How is Elrond different?

The Elrond network is the first to present a viable solution where all the three aspects of sharding – state, network and transactions – have been implemented at once. Combined with its “Adaptive” component, this novel architecture allows for dynamic network configuration to maintain a high level of security while scaling with demand.

In addition to scaling through sharding, Elrond also approaches the consensus problem with a mechanism called Secure Proof of Stake, which mitigates potential attack vectors when compared to Proof of Work, while also enabling large throughput and fast execution.

By solving some of the hardest consensus and sharding problems in the blockchain space, Elrond is able to provide a very high level of performance on a network made of inexpensive computers, resulting in a very low cost per transaction. In addition to performance and cost, Elrond also stands out through the quality of the developer experience and the resulting boost in usability on the end-user side.

Governance

Currently, Elrond is not fully decentralized and centrally manages the protocol improvements and upgrades. Network participants and validators and can still contribute to any changes or proposals since the codebase is open source. Elrond eventually plans to transition to an on-chain governance model whereby EGLD holders can vote on improvement proposals and determine the network’s future direction. This on-chain voting system is still in development.

Maiar

Maiar is a mobile app created by the Elrond team to showcase how their blockchain technology can be used to change the future of money. The app privately maps the user’s phone number to a wallet address and allows them to send money to friends and family via their address book. To learn more about Maiar, check it out here.

$EGLD Tokenomics

Elrond has a native token $EGLD, also known as eGold. The main purpose of this token is for paying network fees, accumulating staking rewards and rewarding validators. Elrond initially issued tokens under the ERD ticker on both the Ethereum and Binance DEX blockchains. A total of 20 billion ERD were initially distributed on Jul. 4, 2019, which is now equal to 20 million $EGLD. After its mainnet launch in July 2020, Elrond changed its economic policy and reduced the supply of its native token by 1000x to 20 Million. As part of the transition and token swap, ERD holders were able to exchange ERD for Elrond’s new native token, dubbed EGLD, at a rate of 1000:1.

The maximum supply of EGLD has been capped to 31,415,926 EGLD, which gradually come into circulation as new issuance at a decreasing rate that will reach 0 after 10 years. The issuance is offset by transaction fees, meaning the total EGLD spent on fees is deducted from the issuance. Less EGLD will thus be issued as usage increases and the maximum theoretical supply will in effect never be reached, allowing scarcity to scale with adoption.

Rewards

Elrond has a decreasing inflation schedule for the coming 10 years. The individual staking rate for each validator depends on how many validators run and how much stake they have. Elrond’s minimum guaranteed reward amount will come from fees while the rest will come from inflation. If the cumulative sum of fees during one year is higher than the minimum guaranteed rewards, inflation rate becomes zero and the rewards distributed will be higher than the minimum guaranteed rewards. Otherwise, total fees will just decrease the inflation by the corresponding amount. The rewards are distributed automatically. New Delegator rewards become available each day, with no time limit for when they can be claimed.

Check out the Staking Rewards calculator to check how much can be earned in rewards over time.

 

This is the information aggregated by Coinbold

 

Elrond EGLD

TOKEN INFORMATION

Token name: Elrond
Ticker: EGLD
Max Supply: 31,415,926

TOKEN ALLOCATION

Founders and Project - 49%
Investors - 44%
Premined Rewards and Airdrops - 7%

INVESTORS

PARTNERS

RESEARCH BY

Logo Coinbold W

Please credit the coinbold.io source when re-posting the article. If you want to add information to the article, please contact: [email protected] thank you very much!!!

Back to Top