The network is built around providing a high-throughput performance paired with interoperability and high-level scalability.
The main goal is to bring up the performance levels of a decentralized network and have it compete with the centralized ones on a more equal footing.
The key concepts to help the Elrond achieve this are its custom technologies designated as adoptive state sharding and secure proof of stake consensus mechanism.
Elrond is a technology ecosystem for the new internet. Its smart contracts execution platform is capable of 100,000+ TPS, 6s latency and $0.001 tx cost, focused on fintech, DeFi and IoT.
Elrond’s money & DeFi app Maiar offers an intuitive first-time experience with blockchain, offering progressive security and a gamified approach to unlocking more useful features.
The Elrond Proof of Stake economic model has a limited supply; its token is named eGold to convey the notion of digital store of value to the next billion users.
Maiar is the super-crypto app running on Elrond technology that enables onboarding new comers into crypto in under a minute, using just a smart phone. With progressive security and an intuitive interface, Maiar aims to onboard the next billion people into the blockchain space.
Its developers see it as the future foundation stone of an open, borderless, and globally accessible digital economy.This is to be achieved by turning Elrond into a platform with a scalable value transfer protocol, paired with the easier deployment of decentralized apps (DApps). This is to be helped by the fact that Elrond team features an equal measure of professional with an entrepreneurial and technical background.
Elrond key features:
Adaptive state : Real-time splitting and merging of stands as the demand for network capacity changes. At any time, the Elrond Blockchain will juggle between network sharding, transaction sharding, and state sharding, making the network capacity highly malleable as user demand requires.
Secure proof of state (SPoS) consensus mechanism: In line with sharding, the Elrond Blockchain elects different validates within each shard in every validation round.
Maiar Exchange: Internet-scale DeFi, the scalable financial engine of the new internet economy. Elrond is building the first DEX AMM deployed on a sharded architecture. The Maiar Exchange is currently in public testing.
eGold : eGold is claimed to be the most robust and universal store of value in existence that has been improved in every aspect by making it digital. Whether it's fungibility, portability, durability, divisibility, impossibility to be counterfeited, seamless transferability, scarcity, or non-sovereignty, all of these take a superlative form in eGold.