Elrond Network Development Team Prospects
Projects based on blockchain technology can fundamentally change attitudes towards the existing financial system around the world. Let us think together with you about the prospects of the Elrond project, which was originally conceived not for the sake of huge profits, but primarily for successful work for the benefit of the whole society. For creative children who did not know how the Elrond platform would develop a year and a half ago, the main criterion for success at that time was a blockchain-based network that worked without failures and at high speed.
A few more similar projects compete with Elrond, but I think that they are already behind. In any case, what I saw on May 28 impressed me quite a lot. Everyone interested in modern blockchain technologies can be recommended to get acquainted with the Elrond project in more detail, to consider its achievements and development plans. On the platform’s website you can meet all the team members and you can also find answers to many common questions. As for my impressions, the interest in Elrond only intensified and I began to monitor progress in the development of the platform. I would like to wish the creators not to take the leading places in this race and prove to the whole world, and first of all to themselves, what achievements the Elrond developers can achieve for the whole community.
Problem
The advent of blockchain technology has become a real event in the lives of millions of people who are not indifferent to the fate of the future of all mankind. People clearly need to change something, because the current system has ceased to satisfy the developed population of the planet. All financial laws are outdated and require reorganization. But the conservative thinking of most power structures at the moment does not allow these changes to occur so quickly. They preach the old politics and slow down the development of cryptocurrency infrastructure. Not all of them understand the true importance of this discovery. It will take some time before the transformation of consciousness occurs, and they will abandon their positions.
The situation was similar with the Internet, and at present it is difficult to imagine life without it. I’m even afraid to imagine what will happen if you suddenly turn off the Internet for all users of the planet. The most real scenario is a grand rebellion of all mankind, a world revolution. The Internet is a gin that cannot be returned back to the bottle. People are accustomed to freedom of expression, to global mobility of communication, and now it is difficult to find a corner of the Earth where the mobile Internet cannot reach.
Young developers, step by step, tried to complete the tasks and, as it turned out to date, gave their results. Since all this was invented, huge changes have occurred. Users who have watched the latest test runs know what I mean. With the network load, which was demonstrated in tests, the number of transactions was very solid, but the most important point is that these are not final results, the speed will be even higher. Development continues, and Beniamin hinted that the developers have some surprises for us, which are too early to talk about. But by his tone it was clear that he was hiding something very important and large-scale. The word "large-scale" in this case is well suited for the actions of the Elrond team, since scaling is the main thing that their efforts are aimed at.
Decision
What are the main advantages of the Elrond blockchain over competitors? Developers have introduced a new consensus building algorithm called Secure Proof-of-Stake. If we translate from a technical language into a more intelligible language, this is reliable proof of ownership (SPOS). The SPOS system allows you to completely eliminate the mining process, and this is very important, since mining requires expensive equipment for mathematical calculations. In addition, the operation of such equipment requires significant energy costs. SPOS significantly improves communication between fragments, which also positively affects the efficiency of the entire network.
Elrond Blockron has a high level of security. It is safe to say that it is more decentralized than other blockchains of this type. But the most important achievement, in my opinion, is the ability of the Elrond network to perform decentralized cross-chain operations, that is, to interact between different block chains. Such actions will be possible using specialized adapters.
To summarize, we can say that a very effective blockchain was created that is needed by the entire crypto community. Today, the Elrond blockchain provides a transaction speed of 12,000 TPS.
A few words about the Elrond ecosystem token. Elrond tokens (abbreviated ERD) will interact on the network as the primary token. All actions, such as transaction processing, execution of smart contracts, accrual of rewards and bonuses, etc., will be calculated in ERD.
Conclusion
The roadmap displays the schedule of planned work from the end of 2017 and is calculated until the first quarter of 2020. Based on the Roadmap, the bulk of the work of the Elrond team was aimed at improving the performance of Testnet. Most of the goals have already been achieved, and it remains to wait for the launch of the main Elrond network - Mainnet. A very important event will be the launch of the decentralized exchange Elrond, but this will happen in the next 2020. The developers did not disregard the market, where decentralized applications based on the Elrond blockchain will be released.
The developers of the Elrond project deserve warm words. All of them without exception are very adequate and smart people with whom it is pleasant to deal with. They are very open to the community and are always ready to answer any questions. Visit the official resources of the Elrond project, there you will find out many interesting details. Join the large army of followers of the Elrond project and let's make life better.
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
Author
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