Sirwin
Sirwin

Elrond Gold

By papajohn231 | DYOR | 8 Feb 2021


Recent surge in elrond prices have people looking into this blockchain. Its a smart contract based chain with sharding live on mainnet (what ether is looking to do with eth 2.0)

So what is Elrond?

"Elrond is a distributed transactional computation protocol which relies on a sharded state architecture and a secure Proof of Stake consensus mechanism." As per https://www.elrond.com/. So like other POS or proof of stake chains elrond does not require expensive asics or even have high staking costs. 

I am sure you have all heard about sharding with ether 2.0, so without getting into much detail this is already implemented in elrond hence the network is already reaching 100000 per second which is very cost effective and fast. 

The Difference?

The Elrond network is the first to present a solution where sharding - state, network and transactions have been implemented already. In addition to scaling through sharding, Elrond also approaches the consensus with Secure Proof of Stake.

Elrond is able to provide a very high level of performance throughput as mentioned (100000 per second) on a network made of inexpensive hardware, resulting in a very low cost per transaction. 

Looking at the price movement elrond has moved upwards from $20 price range to almost $140. Is this the next ether or bnb? you never know#

Price

I do believe that the price has gone upwards really fast. Will it dethrone ether, only time will tell. Shared below is the depth chart.

depth

It seems that 154 is the price to look out for. The base is forming at around 125 usd. This is a coin to keep an eye on.

How do you rate this article?

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papajohn231
papajohn231

Just another blockchain lover... I write about what I like when I like. Food and sports is life...


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