I think you have already paid attention to the fact that analyzing each subsequent project, we often touch on such a problem as the modernization of old processes, new more decentralized. At the same time identifying all the weaknesses of the classical elements, replacing them with new high-tech tools.
Today’s review is no exception, but modern technologies relating to the blockchain structure and related consensus will be improved.
Problems
It’s no secret that the main principle of interaction between society and the blockchain structure is scalability. This is probably the first and most important principle due to which there is a mass popularization of a network. But the trick is that not all blockchain systems it occurs smoothly, smoothly and on time. Sometimes many blockchain networks do not have enough strength, power and necessary auxiliary tools due to which they will achieve harmonious scalability. This applies not only to some individual network nodes, but also to most of the world’s most famous blockchain economy.
Moreover, the topic of scalability comes as a complete violation of all relevant and related trilam. Where each separate consensus chain is responsible for a separate calculation node, which includes not only decentralized block creation, but also its high level of security and further scalability of the entire system.
In order to fully understand and understand this slightly complicated process, I propose to get acquainted with a new, unique project, the main purpose of which is to solve all the problems I have just listed.
About the project and its features.
And we will talk today, of course about Elrond Network. Elrond Network is a new advanced architecture of blockchain technology, which was developed on the principle of improving all three aspects of the blockchain structure. That is, Elrond Network intends to qualitatively change all existing aspects of blockchain technology, while focusing on security, scalability and, of course, on the effective configuration of the decentralized process itself. Thereby forming their own statement about new safety proof bets.
That is, if you generalize about the Elrond Network, it is a new decentralized application that seeks to provide a high level of support and security for all existing consensus groups and nodes, while relying on a large number of smart contracts that are compatible with EVM and EWASM structures.
Advantages
One and probably the most important advantage of today for Elrond Network is its progress. Which he successfully managed to achieve over the past six months. Not to be unfounded, I will list all the latest network integrations, where the GO code language was completely rewritten and the TPS level reached 3750+. Such successes have been achieved through the coordinated work of the team of founders themselves, which in turn adheres to clear development plans and structures identified and presented to the world by means of the project roadmap.
Moreover, the technical approach of the Elrond Network developers is designed in such a way that by adaptive segmentation the best connections of internal fragments were achieved, as well as reduced storage space for solutions that allow the system to scale in a more natural, almost linear way. All this has the highest throughput for all validator resources available, and also has a positive impact on the efficiency of the entire network.
After all, the main goal of Elrond Network is to accelerate its capacity, surpassing the speed of processing transactions several times Visa and 600 times Ethereum. I believe it is very not bad.
Token
If we talk about the main fuel of the system, it is expressed by an internal token — ERD. Which by the way is already actively traded on some crypto-exchanges and managed to show a pleasant growth dynamics. As for transactions and other rewards, they will also be performed using the ERD token by means of the smart contract accompanying it.
All this is intended to improve the existing POS consensus, as well as to have a positive impact on the change of other consensus groups.
Conclusion
It is important to note that the developers of Elrond make a lot of effort in order to meet the highest standards and requirements stated in their technical documents. Therefore, all those who have long been waiting for something like this, I propose to study the issue of Elrond Network in more detail. To do this, you have in the Arsenal of all the necessary information resources, where all the most valuable information about Elrond Network is concentrated. At this point my brief review came to an end. Thank you for your attention and see you soon.
Web Site: https://elrond.com/
Whitepaper: https://elrond.com/files/Elrond_Whitepaper_EN.pdf
Onepage:Telegram: https://t.me/ElrondNetwork
Medium: https://medium.com/elrondnetwork
Twitter: https://twitter.com/elrondnetwork