Elrond Network: This Computer Science Breakthrough Could Reshape the Digital Eco

[sundance]

#Binance's 2nd Anniversary -   BNB and Launchpad Project Promotions!
2019/07/13 0:00 AM to 2019/07/20 0:00 AM (UTC).

Trade ERD to share a 25,000,000 ERD prize pool!

This first promotion will start with a total of 30,000 $BNB, together with 25,000,000 $ERD tokens to give away!

https://www.binance.com/en/support/articles/360030909651 [nofollow]

Elrond’s official outlets:

Elrond Community Platform: https://community.elrond.com [nofollow]
Twitter: https://twitter.com/elrondnetwork [nofollow]
Official website: www.elrond.com [nofollow]
Elrond Github: https://github.com/ElrondNetwork [nofollow]

[ngthnhien]

Time for rewards! :  260 members will receive 4,500,000 ERD

https://twitter.com/LucianMincu/status/1149647749815521281?s=20

+ 260 members will receive 4,500,000 ERD

 This is our way of thanking you for your relentless effort

Our relentless community has been working to get Elrond where it is now, and in return we increase the community rewards by 3x.

Website: https://elrond.com/
Telegram: https://t.me/ElrondNetwork
Tele Ann: https://t.me/ElrondNetworkAnn

[tonymillions84]

i love this project form the first instance. it is unique and has a bright and long term future. i have been following it for long and i so much believed that it will succeed.

[sundance]

ROADMAP 2017-2019 - Building the future one step at a time.





Q:What is Elrond?
A:Elrond is a complete rethinking of public blockchain infrastructure, specifically designed to be secure, efficient, scalable and interoperable. Elrond’s main contribution rests on two cornerstone building blocks:

1) A genuine State Sharding approach: effectively partitioning the chain state into multiple shards, handled in parallel by different participating validators;
2) Secure Proof of Stake consensus mechanism: an improved variation of Proof of Stake (PoS) that ensures long term security and distributed fairness, while eliminating the need for energy intensive PoW algorithms.

Q:How does Elrond plan to solve the scalability issue?
A:In Elrond the throughput increases linearly with the number of shards in the network.

Sharding is a scaling technique inspired by traditional concepts of database optimization. Also known as horizontal partitioning, sharding divides the data into several pieces placed on different environments to be processed.

The more validators and shards, the more transactions the network can process. Elrond is performing all network services with minimal energy and computational requirements.

Q:What is Adaptive State Sharding?
A:Sharding is a scaling technique inspired by traditional concepts of database optimization. Also known as horizontal partitioning, sharding divides the data into several pieces placed on different environments to be processed.

In a blockchain context, breaking the network into shards would result in more transactions being processed, verified and validated simultaneously. Each sharding level introduces a certain degree of parallelism, as a result, it becomes possible to process more transactions as the network grows. Implementing any sharding type on a blockchain architecture is extremely difficult.

We can identify 3 sharding types (levels):
1. Network Sharding represents the process of grouping the nodes into shards.
2. Transaction Sharding takes the complexity to the next level and deals with the distribution of transactions across different shards, but all the nodes keep the entire blockchain into their state.
3. State sharding represents the most sophisticated part and is described as a mechanism that allows different shards to deal only with a portion of the state without replicating the data between nodes from different shards. A state sharded blockchain can be seen as a network of fully interconnected blockchains.

In order to match the current scalability needs, Elrond introduces a novel state sharding scheme, called Adaptive State Sharding, with a dynamic model that allows the network to adapt to population and demand changes without compromising security, availability and decentralization.

Q:What is SPoS?
A:In general, Proof of Stake (PoS) concept states that a node’s probability to validate block transactions is proportional to how many tokens it is staking.
Secure Proof of Stake consensus mechanism expands on Algorand’s idea of a random selection mechanism for the validators, differentiating itself through the following aspects:

• Elrond proposes an improvement which reduces the latency allowing each node in the shard to determine the members of the consensus group (block proposer and validators) at the beginning of a round. This is possible because the last block's aggregated signature is used as the randomization factor. In contrast to Algorand’s approach, where the random committee selection can take up to 12 sec, in Elrond the time necessary for random selection of the consensus group is considerably reduced (estimated under 100 ms).

• In addition, Elrond refines its consensus mechanism by adding a additional weight factor called rating. The node’s probability to be selected in the consensus group takes into consideration both stake and rating, promoting meritocracy.

• Elrond uses Bellare and Neven multisignature scheme, which eliminates one communication round in the signing algorithm.

Q:How is Elrond different from other blockchains?
A:• Compared to Ethereum, Elrond eliminates both energy and computational waste from PoW algorithms by implementing a SPoS consensus while using transaction processing parallelism through sharding.

• Compared to Algorand, Elrond doesn’t have a single blockchain, instead it increases transaction’s throughput using sharding. Elrond also improves on Algorand’s idea of random selection by reducing the selection time of the consensus group from max 12 seconds to less than a second, but assumes that the adversaries cannot adapt within a round.

• Compared to Zilliqa, Elrond pushes the limits of sharding by using not only transaction sharding but also state sharding. Elrond completely eliminates the PoW mechanism and uses SPoS for consensus. Both architectures are building their own smart contract engine, but Elrond aims for EVM compliance to to achieve interoperability between blockchains..


Elrond Community Platform: https://community.elrond.com [nofollow]
Twitter: https://twitter.com/elrondnetwork [nofollow]
Official website: www.elrond.com [nofollow]
Elrond Github: https://github.com/ElrondNetwork [nofollow]

[sundance]

Elrond Initiates Cooperation With Runtime Verification — A Research and Development Company Specializing in Formal Methods

https://runtimeverification.com/ [nofollow]

14th of July, 2019 — Elrond — the sharding-based public blockchain network is proud to announce a cooperation agreement with Runtime Verification for research and development in core areas of formal verification methods.
Elrond is using the K Framework, developed by Grigore Rosu while at NASA and the University of Illinois at Urbana Champaign, as the backbone for all of its smart contract languages. Grigore has continued development of K Framework with his team at Runtime Verification which specializes in formal methods. Building on this, Elrond has developed an in-house GO backend to integrate the IELE VM, which is designed by the Runtime Verification team, and constructed entirely on the K Framework. Elrond is also working to integrate KEVM and WASM in a similar fashion. Having the VMs built using the K Framework gives Elrond access to powerful formal verification tools.
The Elrond research and #DevelopmentTeam  will work closely with Runtime Verification to further develop the K framework and its capability to generate correct-by-construction Virtual Machines for the blockchain. Through the research and development initiative between Elrond and Runtime Verification we aim to take smart contracts to the next level, and to make the GO backend developed by Elrond for the K framework, open source and available to the wide public.
Other Runtime Verification contributors or supporters include Ethereum, Algorand, IOHK, Casper, Maker DAO, Gnosis, Toyota and others.

About Elrond

Elrond is a new blockchain architecture, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
Elrond is built by a team of experienced entrepreneurs along with 13 engineers and researchers with significant blockchain backgrounds and technical experience at Microsoft, Google, Intel, and NTT DATA. The team includes two PhDs in CS & AI, multiple math, CS, and AI Olympiad champions, and a former member of the NEM core team.


About Runtime Verification
Founded by Professor Grigore Rosu, Runtime Verification provides cutting-edge technology to design safe and secure systems and languages based on mathematically-grounded principles. Its technology not only detects the rarest, trickiest and most costly bugs lurking in existing codebases or specifications, but also stimulates the design and development of better programming and specification languages, where such costly bugs cannot exist by design or can be detected cheaply.

Elrond Community Platform: https://community.elrond.com [nofollow]
Twitter: https://twitter.com/elrondnetwork [nofollow]
Official website: www.elrond.com [nofollow]
Elrond Github: https://github.com/ElrondNetwork [nofollow]

[sundance]

Elrond has no bounty, no airdrop, but Elrond has a Social Mining program.

What is Social Mining?



Social Mining is a concept that helps engage new users, by using all types of social platforms, such as GitHub, Telegram, Twitter, Discord, LinkedIn and many more and leveraging game theory to incentives and create an organic community of skilled long term holders.


How to get started?

To get started you will have to first register with a new account at https://community.elrond.com/ [nofollow]

Setting up your account

Your all set up and ready to earn some tokens! To get you started you can follow the on-board tutorial and connect some of your social media accounts to the platform.  To help you get started you can connect your Telegram or twitter on the home page.

Connect your accounts and get verified

To start to become a community member of a crypto currency ecosystem you will have to select a role from the profile section on the platform. To get started click on the profile icon on the top right corner next to the notification bell.
If you have a Reddit or twitter account you can connect those two in the profile section, its important that you select a profile image. If you already have a telegram account we would recommend that you use the same images as the one you have on telegram.

Adding a wallet

Make sure that you add a wallet to which you own the private key to. Do not try to attempt to add a wallet that you do not own.
First you will need to verify that you own the key to the wallet and secondly all rewards will sent to the wallet that you have entered into the system.

KYC/AML Verification
Go through the KYC process on the community platform
You don’t need to complete the KYC process unless you are one of the 260 winners

ELROND's Community platform 101:

The Elrond community platform is a great meritocratic tool through which community members around the globe have an opportunity to accelerate Elrond ecosystem growth and be rewarded for it. We are extremely happy to have reached this point together and we want to make sure we continue on this path.
All activities on the community platform are meant to help us with three complementary goals:
     + to raise awareness about the Elrond technology
     + to educate people about the Elrond ecosystem
     + to speed up development with the help of our community

If you are new to the Elrond community, now is your time to join us by registering on our community platform, connect your social media accounts, share articles and news or start helping our developer team by connecting your GitHub account. Your rewards and reputation will be proportional to your efforts.

Elrond’s official outlets:

Elrond Community Platform: https://community.elrond.com [nofollow]
Twitter: https://twitter.com/elrondnetwork [nofollow]
Official website: www.elrond.com [nofollow]
Elrond Github: https://github.com/ElrondNetwork [nofollow]

[sundance]

Time for some community.elrond.com stats

    + 7,860 users - 228 users joined today
    + 82 contents submitted today
    + 34 articles submitted today
    + 11 translations

NEW campaigns: Elrond- explainer : video_camera: video campaign

https://twitter.com/iamdanvoicu/status/1151192836227960833?s=20 [nofollow]

Since we opened the community platform we had many campaigns that were both fun and very informative. We want to continue on the same path and provide our community the opportunity to come up with new interesting ways to present Elrond, and to #ERDucate others.

For this campaign we would like to see submissions of Elrond explainer videos. Top videos will be rewarded mainly on accuracy, creativity and overall positive feel about Elrond.

Remember an explainer video should be simple, straight to the point, visually pleasant and rather short. If your grandmother would ask what is Elrond - this is the kind of stuff you’d send her.

Guidelines:
Length - min 1:30 - max 4:00
Use voice or subtitles
Graphics
Soundtracks

Answer these questions in the video
What is Elrond?
What possible problems might it solve?
What are the Elrond tech benefits?
What use cases does it fit?

MUST contain the 3 key components
     [1] Adaptive State Sharding,
     [2] Secure Proof of Stake,
     [3] Meta VM


Resources

One Pager https://elrond.com/files/Elrond_Onepager_EN.jpg [nofollow]
Elrond GitBook docs.elrond.com
Elrond Website https://www.elrond.com [nofollow] technology page + FAQs
Previous campaign resources http://No [nofollow] link shortners - please include original link/elrond-resources-campaign7

Rewards
    :[rank 1] - 4.0 rep + 4000 points
    :[rank 2] - 3.0 rep + 4000 points
    :[rank 3] - 2.0 rep + 2000 points
    :[4 - 5 - 6 - 7 - 8 - 9 -10] 1.0 rep +1000 points

Once you finish it - upload it on the community platform and tweet it with the tag #ERDucation

Elrond’s official outlets:

Elrond Community Platform: https://community.elrond.com [nofollow]
Twitter: https://twitter.com/elrondnetwork [nofollow]
Official website: www.elrond.com [nofollow]
Elrond Github: https://github.com/ElrondNetwork [nofollow]

[ngthnhien]

Elrond Network Review:
https://www.endofthechain.com/elrond-network-review/
Writer: Samuel McCulloch

The vision of Elrond is to build a decentralized network that is both linearly scalable and requires minimal energy and computational requirements. It’s only now that networks such as Elrond are being designed for this purpose. As money and value transfer transitions to DLT networks, scalability and performance will be the key features for large scale clients. Elrond meets these demands with adaptive state sharding and Secure Proof of Stake (SPOS) consensus method.

Website: https://elrond.com/
Telegram: https://t.me/ElrondNetwork
Tele Ann: https://t.me/ElrondNetworkAnn

[sundance]

ElrondNetwork announces its integration of Chainlink oracles into their blockchain!

https://chain.link/ [nofollow]

18th July, 2019 — Elrond — the leading sharding-based public blockchain network is proud to announce its integration of Chainlink, the leading oracle service provider.

The Chainlink network provides reliable tamper-proof inputs and outputs for complex smart contracts on any blockchain. Chainlink’s decentralized oracle network offers the same security guarantees as smart contracts themselves. By allowing multiple Chainlinks to evaluate the same data before it becomes a trigger, Chainlink eliminates any one point of failure, and maintains the overall value of a smart contract that is highly secure, reliable, and trustworthy.

Elrond is the first blockchain architecture to integrate smart contracts on a state sharded architecture through an asynchronous and secure scheme. This means any user can call any smart contract, independent of which shard the smart contract and the users account resides. Furthermore, there is no need for atomic locking, yanking or close synchronisation between different shards.

Adding on this, Elrond aims to integrate Chainlink in order to amplify the utility and functionality of its smart contracts by enabling them to securely interact with real-world data feeds. By providing developers with more flexible and sophisticated tools to build on, we aim to take smart contracts to the next level, and transform them into the defacto choice of digital contracts.

Beniamin Mincu — “Through Elrond we have built a highly scalable, secure and efficient blockchain architecture which brings a 1000x improvement in throughput and execution speed. In addition to this, we have also built a new Meta VM providing both security and flexibility to our smart contract developers. By integrating Chainlink, we extend this vision, enabling developers to access real-world data securely and efficiently.”

About Elrond:
Elrond is a new blockchain architecture, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.

Elrond can process and respond with low latency even if there are thousands of applications running on the protocol. Through state-of-the-art optimization techniques, the load is balanced on the shards, and multiple SCs are running on parallel. Further improving horizontal scalability.

Elrond is built by a team of experienced entrepreneurs along with 13 engineers and researchers with significant blockchain backgrounds and technical experience at Microsoft, Google, Intel, and NTT DATA. The team includes two PhDs in CS & AI, multiple math, CS, and AI Olympiad champions, and a former member of the NEM core team. For more information, visit: https://elrond.com [nofollow]

About Chainlink:
Chainlink enables smart contracts to reach their full potential. Smart contracts need to interface with the data feeds, events and widely accepted payment methods that centralized digital agreements already rely on to provide value. By providing the building blocks needed by complex smart contracts in the form of critical inputs and key outputs, Chainlink enables the next generation of smart contracts, which will step beyond tokenization, to become the dominant form of digital agreement.

Learn more by visiting the Chainlink website, Twitter or Telegram. If you’re a developer, visit the developer documentation or join the technical discussion on Discord.


Elrond’s official outlets:

Elrond Community Platform: https://community.elrond.com [nofollow]
Twitter: https://twitter.com/elrondnetwork [nofollow]
Official website: www.elrond.com [nofollow]
Elrond Github: https://github.com/ElrondNetwork [nofollow]

[sundance]

ELRON - whitepaper only a onepager.

For those who did not have time to read the full whitepaper - ERD have prepared a onepager!

Elrond’s official outlets:

Elrond Community Platform: https://community.elrond.com [nofollow]
Twitter: https://twitter.com/elrondnetwork [nofollow]
Official website: www.elrond.com [nofollow]
Elrond Github: https://github.com/ElrondNetwork [nofollow]

[ngthnhien]

Q&A: Beniamin Mincu's AMA session in the #Binance English Telegram group (July 26th)
https://www.reddit.com/r/elrondnetwork/comments/cimndn/qa_beniamin_mincus_ama_session_in_the_binance/

In case you've missed it, here's the transcript of the answers given by Beniamin Mincu, CEO of Elrond, during the AMA session held on Binance's Telegram channel

     shivam kr, [26.07.19 19:08]
     As we know there is already plenty of high-throughput blockchain project nowadays like QuarkChain, Zilliqa, Algorand and much more. How do you plan to compete with them and what is a competitive advantage of Elrond? What unique has Elrond beside its competitors?
    Beniamin Mincu | Elrond, [26.07.19 19:10]
    Here's a comparrison: https://docs.elrond.com/#how-is-elrond-different

     cat cat, [26.07.19 19:09]
       1/ Is there a particular reason for choosing Binance's Launchpad program among the many exchanges?
       2/ How does Secure PoS differ from existing PoS? For example, projects like QTUM and Algorand.
       3/ Is Elrond VM compatible with Ethereum VM? Will many developers switch to the Elrond platform? What do you think?
       4/ Elrond chose BEP2 from Binance Chain prior to the mainnet. Is there a particular reason why you chose the Binance Chain instead of starting from ERC20 or other platforms? Maybe any plan to support ERC20 for liquidity?
       5/ Currently, many projects such as ETH, EOS, TRX, and IOST are competing in the dAPP market, and I wonder how Elrond will make a marketing strategy in this war.
     + Beniamin Mincu | Elrond, [26.07.19 19:14]
        1/ Binance is the largest and fastest growing exchange in the world - perfect place to launch Elrond on.
        2/  Please check docs.elrond.com
        3/ Elrond VM is compatible with EVM.

        Fineally, [26.07.19 19:09]
        Many projects died after ICO during bear market/not going as per the plan that were promised during ICO.
        How would ELROND overcome these after IEO and be one of the successful project?
        What are the benefits of using Elrond's platform for creating dAPPS & smart contracts? and What languages will be supported for developers to build dAPPS on Elrond?
        Beniamin Mincu | Elrond, [26.07.19 19:15]
       Benefits of using Elrond platform: fantastic performance, felixble tools, negligible costs and significant community audience.

        Renars Derrings, [26.07.19 19:09]
       What would be evaluation of Elrond progress in terms of % for mainnet release, EVM?
       Beniamin Mincu | Elrond, [26.07.19 19:17]
        I would say >70%. Lots of work right now is adding further implementation and doing stress testing with real world settings.

        Trader, [26.07.19 19:17]
      I know ELROND is POS but are there any plans for token burn for any reason?
      Beniamin Mincu | Elrond, [26.07.19 19:18]
      There is a possiblity, but perhaps at a later stage.
       The most important thing for Elrond is staking. Once staking starts, it's better then token burn, because tokens are locked out of circulations and you also receive rewards for staking.

    king of crypto, [26.07.19 19:17]
      Your whitepaper potrays the differences between Elrond and other blockchains and Elrond seems to have more advantages. Technology will always get better over time and eventually someone will come up with something better than Elrond. How is Elrond going to face this challenge? @beniaminmincu
    Beniamin Mincu | Elrond, [26.07.19 19:19]
      Real business adoption will be the differentiator.
      Right now we have the testnet working, great focus on business onboarding.

        Jatin Kalra, [26.07.19 19:17]
      Where do you think ELROND can bring the most change in real world scenarios?
      Beniamin Mincu | Elrond, [26.07.19 19:21]
      Internet payments, machine to machine transactions and gaming. These are the verticals we are focusing on.

    Shin Chan, [26.07.19 19:17]
    a. Whom do you think the competitors for Elrond Network in block chain industry?
    b. How is Elrond different from other blockchains that uses sharding like Eth, Zil?
    c. Why Elrond chose POS over SPOS(Secure Proof of Stake)?
    d. How scalability issue is handled in Elrond?
    e. How is cross shard communication is handled in Elrond?
    f. What is Elrond Network focus on mass adoption and what would be the upcoming greatest challenge for Elrond Network?
    g. How Elrond solve the single-shard takeover attack in an uncoordinated majority model?
    Beniamin Mincu | Elrond, [26.07.19 19:22]
      Great difference is in tech, performance, and execution. Elrond is running the testnet right now.
     Please check docs.elrond.com for the precise difference.

    Dixit, [26.07.19 19:17]
    How many TPS did you reach so far? And what is the aim?
    Beniamin Mincu | Elrond, [26.07.19 19:23]
    We can process >10k TPS constantly, and have exceeded 65k TPS with 20 shards in the last test simualtion.

    Dixit, [26.07.19 19:17]
    It seems Elrond targets the European market. Is it true? Will you promote Elrond in Asia, America? We know that some Asian countries like S. Korea among the best place for crypto community growing.
    Beniamin Mincu | Elrond, [26.07.19 19:24]
    Yes, Asia is our specific target for the next month. We have just returned form Korea after a very productive week.

    Maruha, [26.07.19 19:24]
    What are the advantages of Elrond Network compared to ETH?
    Beniamin Mincu | Elrond, [26.07.19 19:25]
    1000x performance improvement with 10k TPS and 5 sec latency

  Dixit, [26.07.19 19:25]
    Why do you chose Elrond, a character from LotR, as the name of your project?
    Beniamin Mincu | Elrond, [26.07.19 19:27]
    Elrond is an aim we take for the team and project. He was immortal, very powerful and still bent on doing good. These are great aims for our project.

        Benz Barcelona, [26.07.19 19:25]
    WHAT ELROND PLAN FOR THE COMMUNITY?
    Beniamin Mincu | Elrond, [26.07.19 19:28]
    Join our telegram, and make sure you join social mining. Lots of competitions and engagement!

        JDSlondon, [26.07.19 19:25]
    What are the competitive advantages of ERD over its competitor?
    Beniamin Mincu | Elrond, [26.07.19 19:28]
    Really high scalability, and fast execution. All this up and running right now on our testnet.elrond.com

        Andrew G, [26.07.19 19:25]
     Will it be possible to make ICO on the Elrond Blockchain, @beniaminmincu
      Beniamin Mincu | Elrond, [26.07.19 19:29]
    Yes, we will hopefully soon have some projects preparing to build on Elrond. Lots of excitement around these.

        Mickael, [26.07.19 19:25]
     What are the most companies that you think will adopt your technology ?(in the near future )
     Is there any staking program with BNB Rewards ??!
     Beniamin Mincu | Elrond, [26.07.19 19:30]
     We are focusing on large companies from tech infrastructure with verticals on internet payments, IoT and Gaming.

    Trader, [26.07.19 19:25]
    What do you think is the biggest problem Elrond network will solve and why is the problem important to solve?
    Beniamin Mincu | Elrond, [26.07.19 19:31]
    Problems of high scalability and fast transactions execution.

    Fineally, [26.07.19 19:25]
    I know that your team is 16 people. Is it enough for ambitious blockchain project ? Do you have plans for expanding?
    Beniamin Mincu | Elrond, [26.07.19 19:32]
    Always expanding and looking for more great people to join.

Website: https://elrond.com/
Telegram: https://t.me/ElrondNetwork
Tele Ann: https://t.me/ElrondNetworkAnn
Elrond Community: https://community.elrond.com