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The Elrond project (ERD) presents itself as an important evolution within blockchains. One of the first arguments is its ability to process 10,000 transactions per second (against 5 to 7 transactions / s on Bitcoin, or 15 on Ethereum). The project will soon undergo a new stage, known as “Genesis”. The latter should bring a simplification and a massive use of blockchain technology.
Elrond aims to democratize blockchain to the greatest number
Based in Sibiu, Romania, the Elrond project was first self-funded by its founders in the early stages of its existence, before then benefiting from an investment of $ 1.9 million for its development in the summer of 2019 , especially from BINANCE Labs.
To reach 10,000 transactions per second, Elrond uses an adaptive combination of Sharding technology (independently operating subnets) with a proven and secure Proof of Stake (PoS) consensus mechanism.
In addition to its transaction speed, Elrond wants to develop a simplified user interface, to greatly facilitate the use of blockchains, and thus make the technology available to as many people as possible.
Founded by Beniamin Mincu, Lucian Mincu and Lucian Todea, the Elrond project wants to bring a major evolution in the blockchain:
"The internet has experienced two major turning points in its growth: the switch from text to graphics using browsers like Mosaic and Netscape, and later the switch from high-speed line access. Elrond will bring these same improvements in terms of simplicity and performance to the blockchain sector, allowing a new wave of growth. Beniamin Mincu, co-founder and CEO of Elrond.
Elrond on its way to its Genesis
The project will soon undergo a major evolution with “The Genesis“. Its goal is to offer a digital currency that is transferable worldwide, in an instant, at a negligible cost, and in the simplest way possible:
"It will be so easy and intuitive that even our parents can enjoy the benefits of blockchain. Just as the average user does not know that when they send email, they use SMTP, so they will soon be able to send money around the world, not realizing that it is operating through a blockchain. »Beniamin Mincu
The Elrond project will soon unveil a new user interface. This should mark this passage from blockchains towards a simplified and massive use.
Just Mining will be a validating partner of the Elrond blockchain
The French service Just Mining, which specializes in access to mining, staking and masternodes, will be one of the first validating nodes in Elrond's Genesis evolution.
In a press release published on June 16, the Just Mining company created by Owen Simonin (aka Hasheur) announces that it will add Elrond’s new blockchain among its range of staking services accessible to its customers.
"Our passion for the new Internet constantly drives us to explore the latest technologies emerging in the ever-evolving blockchain sector, and to support those that we believe will have the greatest impact. We have found that Elrond has developed important technological innovations and that it is driven by an ethics that we share. We are extremely happy to be able to support this project from its inception. Owen Simonin, CEO of Just Mining
Just Mining will be among the first validating nodes of Elrond
Join Elrond's "Battle of Nodes"
Since early June, the Elrond project has announced a "Battle of Nodes" to test the strength and reliability of its network before the official launch of its Genesis phase.
This latest series of public tests will prepare the ground for the launch of the main network. This operation quickly became a great success, since barely 2 days after its launch, a publication already reported more than 800 validator nodes in operation.
Map of validating nodes testing the Genesis evolution of Elrond (as of June 4, 2020) - Source: Medium blog by Benjamin Mincu
Conclusion
The Elrond project seems to have developed the means of its ambitions: to provide the general public with a fluid and simplified version of the blockchain, to make its use completely transparent.
The Genesis stage, which will mark Elrond's own evolution, risks revealing itself as a revolution within the cryptosphere.
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