Elrond Network Score
Elrond is a blockchain platform that will use Adaptive State Sharding and Secure Proof of Stake. Elrond is aiming to build a public blockchain platform to achieve VISA level TPS by partitioning the chain state into multiple shards, allowing each shard to be handled in parallel by different participating validators. Elrond will use an improved version of Proof of Stake (PoS) called Secured Proof of Stake (sPoS) to achieve consensus and to ensure long term security and distributed fairness.
ICO TOKEN PRICE:
- Advisors- co-founders of NEX and Ethereum core developer.
- Combining sharding + secured consensus algorithm solves the current blockchain limitations i.e., performance and security.
- TPS in Elrond network increases linearly as more and more nodes joins the network.
- Unknown metrics.
- No Testnet but they have a prototype.
Some of the other main items that Elrond is planning to integrate in the future are, (i) AI validators which can detect malicious behaviours in the network and penalise them, (ii) Cross-chain interoperability and (iii) preserving the privacy of the participants. Elrond claims that they can achieve average VISA TPS with 8 shards and the peak VISA speed with 64 shards which sounds impressive. Elrond sounds to be on the right track to solve the current blockchain issues and achieve peak VISA level TPS in a secured way but for now, it is all only in the papers.
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