Tired of the Bitcoin price going sideways? FOMO that Bitcoin price is too high? Do you want another alternative way to Bitcoin that has the potential to go up 1000x and higher? Look no further than Elrond Gold (EGLD).
Elrond is basically a highly scalable, sustainable and lighting-fast blockchain ecosystem with many perks. You can delegate your EGLD tokens to earn weekly passive income, send and receive EGLD to your friends and family within seconds and approximately zero fees!
Elrond also have tons of partnerships notably:
1) Orion protocol, Aggregating all liquidity from all centralized and decentralized exchanges into one decentralized platform so that you don't need to continually register and give out your KYC to different centralized exchanges to access to unique trading pairs.
2) Oracle partnerships with Chainlink, Band Protocol & DIA.
3) Fuse Network: A ERC-20 platform where you can custom brand your wallet and currency, currently integrating with Elrond mainnet to enable assets issue on Elrond blockchain to be used in the Fuse app.
4) Terra Virtua: Entertainment-focused collectibles platform that allows collectors of digital assets to display and interact with their virtual goods in AR and VR. Elrond-based NFTs will be integrated there for eGold holders to directly engage with collectibles.
5) Utility of eGold such as Travala (book hotels with EGLD), Samsung (which features Elrond project's gaming app "Battle of Elrond"), Maiar (digital wallet that supports Elrond Gold, Binance Coin and Ethereum to send and receive tokens instantly and with approximately zero fees)
Of course, there are many more important partnerships that I haven't mention which you can look up here.
Why Elrond over Bitcoin again? Let's also take a look at the tokenomics between both.
The key difference is that both bitcoin and elrond have approximately similar total and circulating supply, but has a massive price difference which shows Elrond has a lot more room to grow in terms of the price.
Elrond's two fundamental solutions to achieve this is adaptive state sharding & secure proof of stake. The sharding approach is basically splitting the blockchain into multiple shards, and then handled in parallel with different validators so that faster transactions can be done efficiently and sustainably. Furthermore, the secure proof-of-stake is an improved version of PoS to which the time taken for random selection of the consensus group is estimated to be under 0.1s as compared to Cardano & Algorand's 10 seconds. The peak TPS according to Elrond is state to be 12,500TPS, which is way faster than Bitcoin's proof-of-work which only has transaction speed performance of 7 TPS, very power hungry and you'll need to put in a large amount of initial investment to mine BTC.
Likewise, over a 60 day price change, Elrond currently is moving up by 746% compare to Bitcoin's 114% only. Imagine if the large institutions knew what elrond is capable of doing, more money will be invested in Elrond instead of Bitcoin. Moreover, the potential to transfer billions of dollars in a single transaction which can be completed in the matter of seconds and a fee of just a few cents is unthinkable.
Let's also talk about the delegation feature inside Elrond's wallet. There's the active delegation group and the waiting list group. If you're newcomer, you'll be 100% in the waiting list. Why do we have a waiting list you might ask? That's because they only have a limited foundational nodes of 1454 available for the delegators. If you want to actively participate in the delegation process, you'll have to wait until someone has unstaked their tokens before you can take over their place. Their idea is to ensure that the number of nodes doesn't change and remains fixed at 1454 (Read more here). The current variable APR is around 6.33% depending on the number of delegators in queue, and the minimum amount to participate in delegation is 10 eGLD. You can withdraw your tokens anytime during queue, but if you're an active delegator, the unbonding process will be 10 epochs (or 10 days) before you can withdraw your tokens. The pro of this will be the price stability of the tokens, while the con is that the rewards will favour active delegators more than the delegators in the queue list.
Just recently, The launching of the Maiar wallet will further bring more use cases to the EGLD holders where you can hold your own private keys, send and receive EGLD to your friends and family instantly and almost zero fees. If you want to start participating in the Elrond ecosystem, you can start by creating a Maiar wallet here, buy $200 worth of EGLD using Moonpay in the Maiar app, and get a free $10 bonus within 30 days prior to your registration. Disclaimer: 4.5% fee will be incurred if you buy EGLD with Moonpay using your credit/debit card, so decide how you want to buy your EGLD.
In my opinion, Elrond is a better store of value AND an even better token than Bitcoin as a medium of exchange with its sharding and proof-of-stake technology. I'm not a financial advisor, but just a crypto enthusiast who supports a more sustainable, scalable, interoperable and energy efficient blockchain technology, and I know there are many projects out there that can do better than Bitcoin, or even Dogecoin for that matter. Research carefully, and invest safe.
