Today I want to examine the elrond project, which is trying to develop core solutions in the blockchain network. When the blockchain network was first discovered, it was exciting that person-to-person documents, information and data transfer were possible. Without the need for intermediaries, these actions were revolutionary. Only then would a handful of volunteers use the blockchain network. The problems with the scaling were not so much. Over time, companies, financial institutions, began to scale as investors used this technology to create scaling problems. Later problems with the system began to arise. Various solutions have been designed; Forking took place. Finally, the caravan continues on the road.
Elrond is a project with significant solutions compared to other projects
- Uses less energy compared to Ethereum and uses SPoS to get faster processing speeds.
- Using split instead of single-chain operations improves efficiency over the Algorand. By reducing the selection period of the consensus group from 12 seconds to one second, he develops the idea of random selection.
- Compared to Zilliqa; It not only enforces the limits of process sharpening, but also process sharpening with state sharpening. Elrond, which eliminates the POW mechanism, uses the consensus mechanism, SPOs. Inter-chain uses evm compatibility to ensure interoperability.
The most suitable method for comparing blockchain studies is to evaluate the benefits of release types (network / communication, processing / processing, condition / memory). Through elrond's efficiency increase, communication within parts increases; the storage decreases, the unification being achieved in a solution that can be linearly scaled. Changing validator nodes dynamically after AG usage has a significant effect on efficiency.
With the safe bet amount, Elrond has developed a unanimous approach to choosing the optimal size for random verifier and random verifier selection within a single group. The block provider collects the transactions in a new block and sends the block to members in the validation consensus group. Each examiner checks the process. If everything reviewed is in line with the PBFT consensus, then PBFT is also voted on. If a 2/3 + 1 majority is reached within the consensus group, the block is considered valid.
More information on the project Elrond Network please visit their website listed below:
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