Elrond Network Blockchain & Storage and mining

The Elrond team seems to have decided to revolutionize the digital economy. This project is still quite young, but its development is happening simply at a breakthrough pace. The technical part is already functioning in test mode, you can see for yourself Elrond Network testnet . Specialists from a wide range of fields are part of Elrond and are its main driving force. However, in modern conditions it is not enough to have only a technical basis. The cryptocurrency sphere today offers a lot of solutions to a variety of problems. In this connection, it is important to be the first to occupy a niche and a place of honor, I should note that Elrond copes with this very successfully.

The project team regularly participates in technical and cryptocurrency conferences, presenting the project to an increasingly wide audience. A successful marketing campaign is being carried out to promote the project to the masses. But the second, after the technical implementation of the Elrond platform, is an achievement, I consider a very competent partnership policy, which the team pursues. The solution, in my opinion, is simple, but very effective, In order not to reinvent the wheel and not to attach crutches to the Elrond platform to solve incidental tasks when integrating the project into the cryptoeconomics, the team has already concluded and continues to conclude a number of strategic partnership agreements with already successfully functioning projects. Thus, complementing its modern high-performance blockchain with the best and most technologically advanced solutions present in the industry. This measure will allow not only creating a balanced platform that leaves far behind competitors, but also reliably gain a foothold in the nascent sphere of the cryptocurrency economy. After all, a project with a mass of large partners receives both the most rapid development and the recognition of all industry participants. In a young industry, this plays a very important role.

Using the Elrond Network Blockchain

Elrond and Blockhain technology are two inextricable beings. Blockchain technology itself is the key goal of these projects. The expansion of the industry, thanks to its solution plus a secure cryptocurrency and a network with a considerable ability to pass.

Ecosystem tokens

Of course, Elrond will have a personal token called ERD . Affordable, high-speed currency that can be used to process almost any transaction. An ordered ERD mechanism will keep the entire network in check. EDR holders leaving their tokens for transaction approval and system regulation will be encouraged.

Security

The choice of a bet chance, an agreed group rating - all this gives the way out of Proof of Stake consent. Adaptive attacks with malicious intent are preventively prevented by using an absolutely random number that has many variable parameters. 1 \ 3 components of each shard are redistributed among the others, which reduces the likelihood of malicious counteraction. Based on honesty actions, each node has its own rating. It directly affects the chance of choosing a particular node in the consensus group.

Decentralization

The project team added an element of randomness to its PoS engine. At the output, we get stably redistributable nodes and are uncontrollably among segments. You can be sure that the consensus group is chosen impartially, because the choice is based on the rating and other options, and they, in turn, also carry an element of chance. Further, each block and its signature contains at least 2 \ 3 + 1 signatures - this gives a loyal and honest control of the consistency system. The probability of DDoS attacks and corruption is reduced to zero due to the reconstruction of segments in cycles and the random selection of validators in rounds. However, at the same time, independence and high throughput are maintained.

To date, partnerships have been reached with the scalable computing platform Holo, the Runtime Verification research and development company, the Chainlink decentralized network, and the Xangle platform.

The ERD token is traded on one of the best cryptocurrency exchanges - Binance and Crypto.com. Providing and maintaining the liquidity of the token at the stage of formation of the project is also a very important factor for the future development of the project as a whole.

Elrond combines highly competent technical solutions. Just imagine, the Elrond network is 1000 times faster than its counterparts. Network security is taken to a whole new level. Elrond has the ability to test network resilience to known attacks using a mathematical tool. At the same time, Elrond implements a completely new State Sharding architecture, which is able to give the platform high flexibility and scalability - the so-called sharding. Optimization of the computational and energy costs of the network is achieved by using the Secure Proof of Stake (SPoS) consensus mechanism.

At the same time, having a strong, technological platform, the team does not forget to conduct marketing work and regular negotiations, involving an increasing number of participants in its ecosystem. These are just the measures that cryptocurrency projects neglect, they make their technical decision, but forget to tell potential customers about it. Elrond in this case is an exception in a good way and in my subjective opinion has every chance of becoming one of the most powerful and authoritative ecosystems in the cryptocurrency sphere. While the entire cryptocurrency market is in decline and weak projects are stopping, Elrond shows with his own example that even such a difficult time can and should be used to their advantage.

Storage and mining

Elrond Network has developed a protocol on which it will work. It works in the plexus of several other bulletins and works with the Proof of Stake mechanism. A network with high bandwidth comes to a spaced register, and it, in turn, soon bloats in size and increases the cost of downloading, and the Elrond team solves this problem. Elrond uses reduction algorithms that add blockchain state into a reduced structure. Identical to the control points in pBFT, a mechanism that compresses the entire state of the register. The “Omiledger” algorithm is enhanced by a flexible approach to state separation, quick undefined group selection and increased security. Among other things, increased safety at the end of each cycle (a couple of seconds).

By distributing 1/3 of the available validators to other sectors, the system delay is eliminated. Because of this, a high level of randomness and safety is guaranteed. Also, there are no penalties for the continued survivability of the network. Belare and Nevena is a multi-signature scheme used by the Elrond team. It eliminates a round in the signe algorithm, since there is no need for proof of ownership. Still, the level of security is not decreasing.

10001 transactions / second, support for a large number of dAPP applications, a fast, secure and scalable blockchain network - this is what the Elrond team can offer you. There is a lot of competition in this field and everyone wants to create a network with a high pass. By 2020, about 10,000 dAPPs are already in use, and the entire blockchain industry will contribute to the widespread adoption of the global economy and philistine life. The full value of blockchain technology can be greatly enhanced thanks to the ideas of Elrond Network. These are innovative protocols, fresh consent mechanisms and the expansion of borders. The project can be called a leading force in the development of blockchain due to the fact that one of the principles of the team is interoperability.

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