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22 Oct 2021

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What is Elrond? – Definition, Different, and More
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What is Elrond? – Definition, Different, and More

Definition of Elrond

Elrond is the distributed transactional computation protocol that relies on a sharded state architecture and a secure Proof of Stake consensus mechanism.

Also Read: What is the Hedera Hashgraph? – Work, Services, and More

Why is it Different from other Blockchains?

  • Though most other blockchain networks require custom hardware and high energy consumption, Elrond runs on average computers.
  • And by employing sharding, a method of parallelizing data & transaction processing, Elrond’s performance scale up with the number of computers joining the network.
  • And we are reaching more than 100.000 transactions per second while growing increasingly decentralized.
  • Also, the Elrond network is the first to present a viable solution.
  • And where all the three aspects of sharding – state, web, and transactions.  Also are implemented at once.
  • Also, combined with its “Adaptive” component, its novel architecture allows for dynamic network configuration to maintain a high level of security through scaling with demand.
  • In addition to scaling through sharding, Elrond also approaches the consensus problem with the mechanism called Secure Proof of Stake.
  • And which mitigates potential attack vectors compared to Proof of Work while also enabling large throughput and fast execution.
  • By solving some of the most brutal consensus and sharding problems in the blockchain space, Elrond can provide very high performance on the network made of inexpensive computers.
  • And they are also resulting in a meager cost per transaction.
  • in addition to the performance and price.
  • And Elrond also stands out through the quality of the developer experience and the resulting boost in usability on the end-user side.

Also Read: What is ZCash? – Understanding, and More

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