What is Elrond?
Elrond (EGLD) was announced in August 2019, and it went live in July 2020. It was founded by Beniamin and Lucian Mincu, with Lucian Todea. The goal of Elrond is to offer super-fast transaction speeds using sharding and to address the issue of blockchain scalability. It is a technology ecosystem for the ‘new’ internet, which includes decentralized money, fintech, and the Internet of Things. At a capacity of 15,000 transactions per second with a six-second latency, Elrond’s smart contracts execution platform only costs $0.001 per transaction.
Elrond’s native token is eGold, or EGLD, and may be used to reward validators, pay network fees, or for staking.
Elrond boasts that it is the first blockchain to incorporate state, network, and transaction sharding. The aim is to build the ecosystem and cause EGLD to be elevated as a store-of-value asset. To get there, 2,169 nodes run the network, divided into four shards: three of them are execution shards - with capacity for 5,400 transactions per second each; and one coordination shard for ‘meta chain.’
The network may scale by adding shards if the throughput demand is not met. It was tested with 29 countries, grouped in 50 shards, with 1,500 nodes in a public environment, running 263,000 TPS.
To increase mainstream acceptance, Elrond allows developers to build on the platform, letting them earn 30% in royalties from smart contract fees.
The company holds a supply of EGLD tokens for staking on the network in the first year, allowing validator nodes to receive 36% per year.
A proof-of-stake consensus algorithm secures the Elrond network. The nodes stake the tokens to validate the process, and each validation is given a rating backed on past activity, which determines whether or not they are chosen.
Elrond is currently being traded on these top exchanges: OKEx, Bitfinex, Binance, Sistemkoin, and BitMax.
What are Elrond Frequenty Asked Questions?
Where does Elrond (EGLD) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Elrond currently ranks in position 36 out of the thousands of cryptocurrencies. It is also important to consider Elrond‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Elrond has a market cap of $ 2,558,718,484, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 908,517,236,708, Litecoin at $ 12,111,830,806, Ethereum at $ 177,719,476,721, Tether at $ 36,389,705,521, and XRP at $ 22,099,684,136.
What is the price of Elrond (EGLD) today (updated in realtime)?
The current price of Elrond is $ 148.12 in USD. (The price in Euros is 122,56 €; and the price in Bitcoin is Ƀ 0.00305000 BTC.)
What is Elrond‘s (EGLD) market supply?
The total available supply of Elrond is 17,274,942 EGLD. The total supply of Elrond is 20,397,843 EGLD.
What is the 24 hour volume for Elrond (EGLD)?
The 24 hour volume for Elrond is $ 445,341,020.
How has Elrond (EGLD) performed recently?
Elrond‘s price has increased in the last 24 hours by 5.48%. This compares with a seven day change of 29.60%. The trading volume over the last 24 hours was $ 445,341,020. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is Elrond (EGLD) official website?
Links to Elrond‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has Elrond (EGLD) performed well historically?
Here is a chart showing how Elrond has performed historically.
Where Can I Buy Elrond (EGLD)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
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