ElrondNetwork announces its integration of Chainlink oracles into their blockchain!





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

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.

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Elrond’s official outlets:

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

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/

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.

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Elrond’s official outlets:

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

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..

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

Elrond Secures $1.9 Million in Private Funding Round [Press Release]

https://medium.com/elrondnetwork/elrond-secures-1-9-million-in-private-funding-round-press-release-9d0cfe87a56c

“We are setting new standards for performance in the blockchain space,” says Beniamin Mincu, CEO of Elrond. “Everything changes for decentralized applications when you have a 3 orders of magnitude improvement in throughput and execution speed.”


June 19th 2019 — Elrond — the sharding-based public blockchain network — has announced the closure of its private round investment, raising $1.9 million from Binance Labs, Electric Capital, NGC Partners, Maven 11, and Authorito Capital. The round also included contributions from angel investors in the UK, India, Israel, Asia, and the European Union.

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Elrond’s official outlets:

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

Elrond Blockchain Technical Project Review (2019)
by: OhHeyMatty


Long awaited Elrond Blockchain Technical Review

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Elrond’s official outlets:

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

ELROND: We’ve just been featured in @Forbes . Read about the impact of sharding in enterprise blockchain adoption:


" Elrond has a live testnet for a model known as 'state sharding', combined with a secure PoS consensus "

https://www.forbes.com/sites/yoavvilner/2019/06/11/what-could-sharding-mean-for-enterprise-blockchain-adoption/#730c44832c75

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Elrond’s official outlets:

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

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Elrond Initiates Cooperation With SmartBill — a leading software-as-a-service provider for invoicing, inventory management and accounting


St. Julian's, Malta and Bucharest & Sibiu, RO — 6h June, 2019 — Elrond, the technology company developing a scalable and more efficient blockchain platform, is proud to announce a cooperation agreement with SmartBill — a leading software-as-a-service provider for invoicing, inventory management and accounting.

SmartBill is an established FinTech company providing SaaS-based services to small, and medium-sized businesses for invoicing, accounting and inventory management. Its invoicing and accounting SaaS platform is counting more than 60 000 clients, 2 Million invoices issued each month with a total value exceeding $350 Million each month.

Elrond and SmartBill, aim to jointly explore the potential integration of the two platforms to provide to their users and clients blockchain based features, like trust, transparency or traceability.

Furthermore, Elrond and Smartbill are also expressing their interest in exploring other, but not limited to, potential use cases, related to blockchain technologies like inventory and supply chain tracking capabilities, and alternative payment solutions.

Declarations:

“We are very enthusiastic and driven by the desire to offer the most intuitive invoicing and accounting products to our clients.” says Radu Hasan, CEO of Smartbill. “We truly believe we can take things to a whole new level and offer new features and options that were not possible until blockchain technology was born. We believe through this partnership with Elrond we can achieve that.”
“Elrond brings a radical improvement to the blockchain space, adding the much needed performance for real world usage. We believe small and mid-sized businesses will soon be able to integrate Elrond’s technology and reap the benefits of increased transparency, minimized costs and built-in trust between different parties and companies. We are happy to have Smartbill as partners.” says Beniamin Mincu, CEO of Elrond.

About SmartBill

Founded in 2007, SmartBill is an established FinTech company that offers billing solutions and SaaS-based services. It also provides small and medium-sized businesses with invoicing and inventory management software. It offers Smart Bill Cloud, an online billing program which can be accessed from anywhere, from any internet-connected device.

About Elrond

Elrond is a new blockchain architecture, designed from scratch to bring a 1000-fold cumulative improvement in throughput, execution speed and transaction cost. To achieve this Elrond introduces a novel Adaptive State Sharding mechanism, enabling linear scalability, and Proof of Stake (PoS), a novel and more efficient consensus mechanism proposed as an alternative to the intensive energy and computational use in Proof of Work consensus mechanisms.

Official website: elrond. com