Elrond is a high-throughput public blockchain aimed at providing security, efficiency, scalability and interoperability, beyond the current state-of-the-art. The two most important features that set Elrond apart are Adaptive State Sharding and the Secure Proof of Stake consensus mechanism.
Elrond is a complete redesign of blockchain architecture with the aim to achieve global scalability and near instant transaction speed. Elrond’s architecture rests on the following key innovations:
- Adaptive State Sharding
- Secure Proof of Stake Consensus
- High resiliency
- Secure randomness source
- The Arwen WASM VM
- Smart contracts on a sharded state architecture
- Fast finality for cross-shard transactions
Security of the network is provided by the validator nodes, that produce new blocks and get rewarded for the work done. In order to become a validator, the node operator must stake a minimum amount of eGLD, currently 2500.
Read more: https://docs.elrond.com/validators/overview/
Token holders can participate in staking indirectly by delegating their tokens to existing nodes operators, professional validators (Staking Providers), in this case ARC Staking Solutions. In return for delegations, the block producers share the corresponding amount of rewards with the stakers. All in all, the stakers are collecting yields, which makes participation in the DPoS process profitable for them and beneficial compared to simple holding the assets. Rewards are proportional to their delegated stake so the more you delegate, the more you earn.
The Elrond Staking reward for Delegation are one of the most profitable in the Industry.
Key Differences from other chains
- Maiar app ->money app with elegant design ready to onboard the next billion people
- Developers: royalties – 30% SC gas return to authors, C, C++, Go, Java, Python, Rust framework, VS Code IDE, WASM VM
- Validators: 36% APR staking, 29% Active Delegation, up to 20% APR Waiting List
- Economics: Decreasing issuance until capped supply, transaction fees offset issuance – scarcity increase with adoptionRead more: https://linktr.ee/elrond
- First live blockchain architecture with state sharding
- Mainnet launched in July 2020
- 15,000 TPS, 6s latency, $0.001/tx
- 263k TPS in public testnet
- IDE with debugger and Rust framework for SCs
- Validated through multiple audits from Trial of Bits & others