ELROND NETWORK
Elrond is creating a highly Scalable Public Blockchain with Adaptive State Sharding and Secure Proof of Stake
Let’s debunk what is Elrond and how it aims to get adoption.
In general, there are several ways in which blockchain and cryptocurrency developers are trying to improve transaction speed in the blockchain, and sharding is one such method. Sharding is a scaling technique inspired by traditional concepts of database optimization. Sharding divides the data into several pieces placed on different environments to be processed.
In general, the more validators and shards, the more transactions the network can process. Elrond introduces a novel state sharding scheme, called Adaptive State Sharding, with a dynamic model that allows the network to adapt to population and demand changes without compromising security, availability and decentralization.
Such architecture enables linear scalability, meaning that scalability of the network is designed to grow with the number of shards(and nodes) in the network.
KEY FEATURES & HIGHLIGHTS
State sharding (transaction, data & network sharding); adaptivity through shard merges and shard splits
Consensus in two communication rounds with modified Boneh–Lynn–Shacham ("BLS") multi-signatures
High resiliency to malicious attacks due to intra and cross shard node reshuffling
Secure randomness beacon with BLS signing
Smart contracts on a state sharded architecture with balanced load on shards
Fast finality for cross shard transactions (seconds)
https://elrond.com
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