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.
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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