Elrond is an innovative cryptocurrency that is based on the blockchain, secure and scalable.
Born in 2017, it aims to solve the problem of scalability of the blockchain, and actually succeeds with implementations such that make it one of the best performing to date. All this thanks to a development system that has been designed horizontally and not vertically, while solving the issues of security and speed in cryptocurrency exchanges.
Elrond is a company that has created a completely innovative ecosystem for transactions related to cryptocurrencies. Therefore, it is not just a currency but a dedicated system in which the EGLD token represents the network's native unit of value, a medium of exchange. However, this is more sophisticated than other existing cryptocurrencies because it is based on a very particular programming, which provides forms of implementation aimed at creating speed and security compared to other products.
It has a token that is used to split the data into even smaller parts, distributing them across the network in a fragmented manner, with a specified number of nodes used to process transactions. The divisions are on three lines: state, transactions and network. The Elrond cryptocurrency, using this mechanism becomes proof of any attack. With the EGLD token each node is individually validated, this leads to a totally secure solution.
The Elrond team is composed of developers and technicians, this has offered the possibility to intervene in a sophisticated way from the point of view of quality. A very ambitious project that is worth keeping an eye on for its growth and especially for the collaborations that the company is developing with other partners.
The cryptocurrency made its debut on the financial market in 2019. The first accolades came in 2021 when DeFi systems were announced for the security protocol. Elrond provides streamlined steps and boasts innovative technical features.
Elrond is a very sophisticated project, and definitely a flagship product that has dominated the cryptocurrency scene in recent years. Its transactional speed has largely solved what was the problem with cryptocurrencies in general, but also with important elements like Bitcoins. This is an area that suffers from very high costs and low speeds. Elrond has positioned itself as the "solver" with a total change thanks to the special token called eGold (EGLD).