Elrond is a blockchain that enables smart contracts similar to Ethereum, though it offers a more scalable blockchain. To accomplish scalability, Elrond uses the Secure Proof-of-Stake process to validate transactions. In this process, not all validators have to confirm the transactions, but a smaller group of validators is chosen by a random selection process. This group changes after each block of transactions. In addition, Elrond incentivizes programmers to develop on their blockchain by giving them 30% of the fees that accrue when using smart contracts.
Elrond has taken the idea of smart contracts from Ethereum and tried to create a better blockchain. Besides the additional incentives for programmers to work on Elrond, it offers a more scalable and secure solution. On one hand, the Secure PoS method allows for a more scalable validation method that allows for a high number of transactions. Indeed, it does not allow as many transactions as Solana yet. However, on their test environment, already 260000 transactions per second have been tested. In addition, they have not had any downtime compared to Solana.
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Elrond is aon its own,uses to validate transactions,and is.Elrond also supports.
Interesting facts about Elrond
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Programmers receive 30% of smart contract fees, giving them a greater incentive to contribute to Elrond.
Secure Proof-of-Stake selects validators randomly, so not all validators have to confirm transactions.
Elrond is a more scalable alternative to Ethereum enabled by Secure Proof-of-Stake.
Elrond reviews from the Learn.xyz community
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I like the vision and the ambition of the Elrond (now MultiversX) team. Their vision is that Metaverse cannot function without a strong blockchain. Their ambition is to bring the first billion users to the crypto space.
See how much Elrond is worth and learn from other insightful metrics
-0% past 1 week
Based on 1 community reviews
Market capitalization Very small
24 hour trading volume Very small
Market cap % of total Very small
# Discord members -
# Telegram members 469 1% of them are active
% of total supply circulating Very small
What’s the community like?
Community matters for projects like Elrond, because an active community drives the development of use cases for a blockchain project. The more people are active, the better to have healthy discussions and create something valuable.