Elrond Network - SPoS Development in Blockchain Network

Hello to everyone! Today I came to you with the most interesting project of the last months. “Elrond Network! Var We have a big team that specializes in their fields. In the past, they worked in large IT companies such as Intel, Google and Microsoft. Among them there are 3 engineers who are the Olympic champion of Mathematics, researchers who have a PhD in Informatics and blockchain technology experts. A group of intelligent men who devote themselves to the development of Blockchain technology. They're writing a whole new network from scratch. Tests of Elrond Network have revealed that it works 1000 times more efficiently than similar networks. If you are interested in software, you can join Elrond Github. Elrond Network now works as open source. Open source means you can join the adventure and become one of the developers of Elrond Network.

Elrond is a rethinking of the public block chain infrastructure specifically designed to be safe, efficient, scalable and interoperable. divide into multiple parts; 2) Safe Procurement Proof consensus mechanism: An improved Proof of Proof (PoS) variation that provides long-term security and distributed justice while eliminating the need for energy-intensive PoW algorithms.

PoW costs a lot of energy. Over time PoW emerged as an alternative revolutionary PoS. The Elrond network offers you a secure betting proof (SPoS) consensus mechanism. (Secure Proof of Stake (SPoS) consensus mechanism). All this is historical. Blockchain history is being rewritten in this project. In the future, we will tell our friends about Elrond Network and how we write these articles.

Elrond Network Features

Elrond, Network, will rethink the public block chain architecture, solve scalability through adaptive state-sharing, provide proof of efficiency with safe evidence, and ensure EVM compliance with the design. Elrond Network is trying to achieve 10,000 TPS, low latency and 1000 times more improvements than the current status quo.

The idea of ​​decentralization and the interoperability of the original block chain is very close to each other. Currently, most interconnection and interoperability between different blockages are achieved through exchanges and third-party trading platforms. This defeats the purpose of blocking chains that they do not have third parties, and at the same time disrupt the way that transactions can be handled smoothly and securely. According to all other blocks, there is no protokol protocol to manage them all ancak, but Elrond's approach will narrow the gap between the most important blockages.

In the first step, Ethereum Virtual Machine compatibility is targeted: Elrond Network, the ability to make smart contracts written for Ethereum with little or no changes to the Virtual Machine. The implementation of our VM provides an appropriate layer of abstraction, hiding the underlying architecture that isolates developers of smart contracts from within the system.

In the second step, we aim for interoperability with Ethereum: it is intended to exchange Ethereum and Elrond seamlessly without a trusted third party. As we all know, Ethereum can use smart contracts on network nodes to process or exchange value without any external human or team intervention. In this way, transactions between Elrond, Ethereum and ERC20 markers can be processed securely without a central stock exchange that the user must have. It does not hold the user's private key, and perhaps undergoes the KYC process, where anonymity is lost. Elrond network, which also addresses integration problems with other blockchain networks.

I think the most important plus of Elrond Network is its solution to the problem of scalability. I'm suggesting a video about this development, which increases the speed of the network to 12k tps. During the San Francisco Blockchain Week, the panel, Beniamin Mincu, CEO of Elrond, attended the panel as a speaker to discuss scalability issues.

Panelists: Bonnie Cheung (500 Startup), Beniamin Mincu (Elrond Network), Jack
O'Holleran (SKALE Labs), Anatoly Yakovenko (Solana), Kevin Wang (Nervos)

Road map

One of the features that make the Elrond Project more valuable than many projects is that the team locks the tokens by 2020 and does not have the right to transfer 3.5 years. This first shows the team's belief in the project. I add a few sentences from Elrond's own statement. I really appreciate it.

Team: 3.5-year winning period lasting up to 19.00 - 2020 years: 10 - 6 months after IEO, 10 - 12% from IEO, 15 - 18, 24, 30 and 36 months from IEO , 20 - 42 months after IEO. To demonstrate our commitment, the team agreed to postpone the unlocking team tokens until 6 months before the IEO and increased the earnings to 3.5 years.

Elrond Team

Finally, the discovery of the Elrond project by Binance is proof of how remarkable it is. I offer you important supporters and partners. You can also find important links and social media links below for a more detailed review.

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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