DeFi 10115 September 2021

What is Elrond?

Elrond Explained

Summary

· Elrond is built for scalability, speed, and security

· Elrond claims to solve the blockchain trilemma

· The network’s speed per transaction is improved vis Adaptive state sharding

Elrond is a blockchain platform built for scalability, speed, and security for enterprise use cases, dApps (distributed apps), and the internet economy. Elrond claims to have the solution for the scalability trilemma facing most blockchains with a 1000 plus improvement in blockchain scale, cost, speed, and user experience.

Elrond aims to increase throughput, aka the network’s speed of transactions per second, with a technique called Adaptive State Sharding, and a new approach to consensus known as Secure Proof of Stake (SPoS).

Adaptive state sharding solves scalability by improving the state of communication inside the network nodes or shards, improving efficiency. It does this by providing a solution that allows parallel processing on every level by combining the three types of sharding- state, transaction, and network sharding.

Kibet Elikana
Write a comment