Elrond
The Elrond Network is a project that is finally able to solve the trilemma of blockchain scalability of networks and enhance the interaction of technology with real sectors of the economy. The main objective of Elrond Network is to create a new blockchain architecture that goes beyond the current level and is designed for practical scalability using adaptive state separation and secure transaction confirmation (SPoS). In an ecosystem that is committed to inter-network interoperability, their intelligent contract solution offers an EVM-compatible mechanism to ensure interoperability in design. This is a guarantee that Elrond Network will be relevant in an ever-growing blockchain environment.
The Elrond Network is a complete rethinking of a shared blockchain architecture specifically designed to provide overall overall improvement due to scalability, efficiency, and security while maintaining a fairly decentralized configuration. To achieve this goal, the team has implemented a new adaptive state separation mechanism that provides scalability as more and more nodes join the network, paralyzing transaction processing. At the consensus level, Elrond proposes a new mechanism called the “Secure Proof of Stake”, introducing a random selection of the consensus group, a “bet plus” rate as a function of suitability for preventing sibil attacks and almost instant finality based on pBFT. To ensure decentralized applications, Elrond is designed so that it is compatible with EVM and Ewasm, supports multiple smart contract languages, and formal verification.
I have no doubt that the team creates an outstanding product that is able to modernize the entire blockchain industry and make the technology available to every inhabitant of the planet. The project has a highly qualified team, reliable partners and a finished product, but their competitors are not hamsters either, so the Elrond Network team needs to move very quickly to take its place in this competitive field. In general, the project is quite interesting and may well become the best blockchain in the world.