Elrond Review: Everything We Know About ERD!!

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ā–ŗ Complete Review: https://www.coinbureau.com/review/elrond-erd/
ā–ŗ Sharding: https://www.coinbureau.com/blockchain/speeding-blockchain-transactions-sharding/

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ā›“ļø šŸ”— Helpful Links šŸ”— ā›“ļø

ā–ŗ Website: https://elrond.com/
ā–ŗ Whitepaper: https://elrond.com/files/Elrond_Whitepaper_EN.pdf
ā–ŗ GitHub: https://github.com/elrondnetwork

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šŸ“±ļø Socials šŸ“±

ā–ŗ Blog: https://medium.com/elrondnetwork
ā–ŗ Twitter: https://twitter.com/elrondnetwork
ā–ŗ Telegram: https://t.me/ElrondNetwork

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šŸ“ Project Overview šŸ“

Elrond is a project that is focusing on scaling, interoperability and throughput.

The team wants to develop a decentralised network with better performance than their centralised brethren.

āš™ļø Technology āš™ļø

Elrond makes use of one of the well-known technique of blockchain sharding.

Elrond has implemented a unique approach to this sharding. They use Adaptive state sharding.

Consensus is kept through a Secure Proof of Stake consensus algorithm which was developed to improve on traditional Proof of stake mechanisms.

The project is also focused on cross chain interoperability.

This is all through their Virtual Machine which will support smart contracts written in Solidity.

šŸ’°ļø Token šŸ’°

The ERD utility token was issued on the Binance chain as a BEP-2 token.

These will power the Elrond network and will be used for transaction fees, staking, dApp deployment, smart contract execution and validator rewards

ERD tokens were initially sold in a Binance IEO. This took place in July of 2019 and the team sold 25% of their total supply of 20 billion tokens.

They were able to take in about $3.25m.

šŸ‘Øā€šŸ’»ļø Team, Partners & Development šŸ‘Øā€šŸ’»

The CEO began his blockchain experience as a part of the NEM core team for one and a half years.

The CIO is an engineer with 8 years of experience and the COO is a successful entrepreneur who has over 15 years of experience investing in the technology space.

The broader team is comprised of 18 members who have backgrounds in a range of disciplines.

This team has been relatively active in development

šŸ“ˆ Trading & Wallets šŸ“ˆ

The bulk of the volume of ERD trading is taking place on Binance. In fact, there is only one other exchange that lists ERD and that is Dcoin (with only 8% of total volume).

Liquidity on the Binance exchange books are really high and will facilitate easy execution.

Storage can be done in any BEP-2 compatible wallet. The Elrond team has released a wallet on the testnet and plans on releasing the production wallet later this year.

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šŸ“œ Disclaimer šŸ“œ

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Elrond #ERD #crypto #blockchain #Review #Ethereum #Binance #platform #dApp #trading #cryptocurrency #Sharding #scaling

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