Elrond Future Steps
The invention of the Internet is a development that will influence the years to come. The ability to have fast and uninterrupted access to information quickly increased the demands for innovation. This has promoted scientific progress. And has contributed significantly to global economic development.
Suppose we have some digital rights and obligations in a world without geographical boundaries in the future, perhaps only digital restrictions. We live in smart cities and we live in an optimized shared economy where all transactions take place in an environment where you are fair and transparent. Blockchain technology is used as a fusion force; It will accelerate transformation and innovation.
Projects are required to preserve the benefits of the technology and ensure your widespread use. Libertarian structures are needed to limit the restrictive aspects of the decentralized structure. The limitations and negativity caused by the construction of the central structures are solved with the new structure.
Elrond's user-friendly architecture aims to make value transfer confidential and secure. Safety is very important today.
Elrond supports digital ownership and a high degree of social scalability in new digital economies. The core therefore aims to be at the forefront of a significant change in the infrastructure of the Internet. Elrond maintains a structure and makes 1,000 times more improvements efficiently and safely. To achieve this, he proposes an adaptive state splitting mechanism that is parallel to the operations of a large number of nodes; it provides linear scalability when joining the network.
With the dynamic model called adaptive state sharing, it can be reconfigured and customized based on the number of active nodes in the network. As a result of the development of Algorand's idea of random selection, it reduces the delay that allows each node in the piece. This happens first in the form of a random identification of the members of the consensus group and using the last block as a collective signature. Each node in the list of nodes E can be selected to an optimally sized consensus group with the aggregated signature of the last block.
Random source selection: the random number known from all shard nodes through gos-sip can not be predicted without being signed by the pre-block Consensus Group. This feature prevents malicious attacks. In addition to the risk factor used as the only decision factor in PoS architectures, Elrond added an additional weighting factor called Rating. This also improves the consensus mechanism. Random verifier selection with optimal size, in the random group is done by the combination of FITNESS selection through risk and rating that is called Secure Proof of Purchase (SPoS). So network services are met with minimal energy and maximum efficiency for a random selection is between 1 second and 12 seconds in Elrond.
A node needs devices to work. The super node requires a multi-core server with storage capabilities. In the prototype tests (i3 processor, 8 GB RAM, SSD memory) a machine with functions was found to be sufficient
Supports multiple smart contract languages to help and make distributed applications possible. At the consensus level, the random selection of the group strengthens the ability to prevent Sybil attacks.
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Telegram username: @cryptocat15