ElrondNetwork: High-throughput public blockchain with Adaptive State Sharding

+ 65k tx/sec
+ minimal latency
+ negligible fees

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





THE PROBLEM: Censorship resistant protocols are indispensable

A few decades after its invention, the internet has brought compounding improvements in speed and bandwidth of communication, instant access to the world’s knowledge, rapidly increasing rate of innovation, and hence, a growing global economic output.

But with the near omnipresent surveillance tools, increasingly potent behavioral impact of technology, and worrying concentration of power in the hands of a few tech giants, the crucial necessity for a new layer of the internet becomes evident. One preserving the instrumental benefits enabled by technology, yet limiting its potentially restrictive inclination by means of decentralization.

Elrond is at the forefront of this major shift in core internet infrastructure, empowering a higher level of social scalability through sovereign digital ownership, data privacy, unstoppable censorship-resistant applications, novel digital economies and governance models

THE SOLUTION: Innovative technology applied at scale

Elrond is a complete rethinking of public blockchain architecture, especially designed to bring a 1000x overall improvement by being scalable, efficient and secure while maintaining a sufficiently decentralized setting.

To achieve this we introduce a novel Adaptive State Sharding mechanism, enabling linear scalability as more nodes join the network by parallelizing transaction processing.

On a consensus level we propose a novel mechanism called Secure Proof of Stake, introducing a random selection of the consensus group, stake plus rating as a fitness function for sybil attack prevention, and near-instant finality based on pBFT.

To enable decentralized applications we design Elrond to be EVM and Ewasm compliant, supporting multiple smart contract languages and formal verification.

THE FUTURE: Digital economy of tomorrow

What will the future look like? The best way to predict the future is to create it.

Elrond’s developer-friendly design is based on the following fundamentals: trustless network for value transfer, privacy safeguarding, facilitation of new business models (removes the middleman and inefficiencies), along with the development of secure and decentralized applications.

All these elements create a balanced recipe for a decentralized future.

Envision that you are the citizen of a country with no geographical frontiers, maybe digital frontiers. Your digital citizenship gives you some rights and obligations.
You express your voting intentions through a transparent, secure, and decentralized e-voting system. A similar system is in place to track your contributions and taxation. You live in a city, a smart city where you pay for what you use, in an optimized shared-based economy where everything is tokenized and accessible in a transparent, secure and fair way.

Using blockchain technology as a force for unification will accelerate a future of transformation, innovation and ultimately strengthen the standard of transparency across industries. Furthermore it will enable complete access and ownership of it’s users private data.

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