Technology and social development are challenging scientific solutions. The relationships of people are always changing. This change requires new solutions at every stage. For this reason, there are still leading projects that want to solve problems. These projects are referred to as "giants" in your area of being the product of work, knowledge and work. We follow in the footsteps of these giants.
Today, I want to examine the Elrond project, which is working on basic 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. These actions without intermediaries were revolutionary. Only then would a handful of volunteers use the blockchain network. The problems with the scaling were not so much. Over time, as companies, financial institutions, and investors began using this technology, scaling problems began to emerge. Then problems with the system began to appear. Various solutions have been designed; Forking took place. Finally, the caravan goes on.
Elrond is a project with significant solutions compared to other projects
- It consumes less energy than Ethereum and uses SPoS to achieve a higher processing speed.
- Compared to Algorand, using splitting instead of performing operations on a single chain increases your efficiency. He develops Algorand's idea of random selection by reducing the consensus group's selection time from 12 seconds to one second.
- Compared to Zilliqa; not only sharpening the process, but also with government sharpening pushes the boundaries of process sharpening. Elrond, which eliminates the PoW mechanism; uses SPOs, that is the consensus mechanism. Uses EVM compatibility to ensure inter-chain interoperability.
The most suitable method for comparing block chains is to evaluate the benefits of release types (network / communication, processing / processing, condition / storage). Elrond's approach to increasing efficiency increases communication within parts; the storage capacity decreases where fusion is achieved in a solution that can be scaled linearly. Changing validator nodes dynamically to ag usage has a significant impact 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 each group. The block provider collects the transactions in a new block and sends the block to members in the validation consensus group. Each validator checks the process. If everything is controlled, it will also vote on the PBFT. 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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