Technology and social development challenge scientific solutions. People's relationships are constantly changing. This change requires new solutions at every stage. Therefore, there are always pioneering projects that want to solve the problems. These projects are the product of labor, knowledge and work, and are called dev giant kendi in their fields. We follow the footsteps of those giants.
Today I would like to examine the Elrond project, which is based on the development of basic solutions on the blockchain network. When the Blockchain network was first discovered, it was exciting to be able to transfer documents, information and data from person to person. These processes, which were done without the need for any intermediaries, were a revolution. Only then was a handful of volunteers using the blockchain network. The problems with scaling were not too much. As time passed, companies, financial institutions and investors began to take advantage of this technology and scaling problems began to emerge. Then problems with the system began to appear. Different solutions were put forward and there were bifurcations. Eventually, the caravan continues on its way.
Elrond is an important solution when compared to other projects
- Compared to Ethereum, it uses less energy and achieves higher processing speed by using SPoS.
- When compared with Algorand; using shares instead of running them on a single chain increases its efficiency. It improves Algorand's idea of random selection by reducing the selection time of the conciliation group from 12 seconds to one second.
- Compared with Zilliqa; using not only process sharpening, but also situation sharpening, it pushes the limits of process sharpening. Elrond completely eliminates the PoW mechanism; uses SPoS, the consensus mechanism. It uses EVM compatibility to ensure inter-chain interoperability.
The key achievements of the team and the project as a whole, achieved in each quarter, starting from the start, are reflected on the roadmap. In addition, detailed information was provided on the next steps that are directly related to the prospects for expanding the network and business. This is very important, as it provides an overview of how the team sees their project for network adoption.
There is a detailed variation of the road map (road map), showing specifically 2019. It reviews the start of the year, the fundamental, the launch and further expansion of the project network. The network upgrade was divided into two components: functions and basic elements, which are nothing but a step towards improving the Elrond project .
In the final version of the road map, Elrond focuses on the progress that has been achieved in 2019. A detailed description of all the nuances and the further invention of a diverse range of functions and variations in the application of the network. At first glance, it seems that the ambitions of the project for 2019 are exorbitant and unrealizable, however, the team regularly takes steps of progress and smoothly moves to visual examples of use. The functionality offered by Elrond is nothing more than a confident step towards creating a mass product that will be considered as the main industry standard.
First of all - transparency, I assure you that the Elrond team is a team of professionals. All the information I found about the team members is not corrupt or anything like that. All of them are living people with good experience and former place of work.
Also, it is necessary to mention their CEO - Beniamian Minku and his brother CIO Elron Lucian Minku . They both created the Metachain Capital fund with Binance, Tezos and Zilliqa in their portfolio (good intuition, right?). Another participant is Lucian Todea - COO, a rather successful Romanian entrepreneur with soft32.com (more than 2.5 million hits per month) and an investor in several other projects. The last one I want to tell in detail is Felix Chrisan , he is the head of the research department, and his experience is also impressive. He is the co-founder (founder?) Of Mobilpay, a major Romanian micro-payments aggregator.
More information on the project Elrond Network please visit their website listed below:
• Bitcointalk username: David12jay
• Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=2168034
• Telegram username: @cryptocat15
• My Wallet: bnb1mvpaua2e3k5anusjamz2s2y300hwp8aepxylr3