- 1 Overview of Elrond
- 2 Blockchain
- 3 Mine
- 4 Network
- 5 Support
- 6 Transactions
- 7 Can I delegate more than once from the same wallet?
- 8 Got News?
- 9 Like what you’re reading?
- 10 What amount of eGold can I delegate?
- 11 Where Can You Buy Elrond (EGLD)?
- 12 Did you know?
- 13 Elrond: Flight to the Moon or Journey to Valinor?
- 14 Did Elrond had the gift of foreseeing in the books?
- 15 How Does Elrond’s Adaptive State Sharding Work?
- 16 Have you seen?
- 17 What can you do with Elrond?
- 18 Can I claim my delegation rewards?
- 19 Why stake on Elrond?
- 20 How Many Elrond (EGLD) Coins Are There in Circulation?
- 21 How can I delegate into the Waiting List?
- 22 How Is the Elrond Network Secured?
- 23 What is Elrond?
- 24 Want Daily EGLD Price Updates?
- 25 What is Elrond?
- 26 What is it?
- 27 Is Elrond a Good Investment?
- 28 Tired of ads?
- 29 Is there a waiting time for withdrawing from the delegation waiting list?
- 30 What is eGold?
- 31 What is Elrond?
- 32 What is Elrond?
- 33 What Makes Elrond Unique?
- 34 Can I withdraw my previously delegated amounts?
- 35 What Is Elrond (EGLD)?
- 36 What is Elrond?
- 37 What’s so special about Elrond?
- 38 How does Elrond work?
- 39 Who Are the Founders of Elrond?
- 40 What is Elrond Network (ERD)?
- 41 What are the Waiting List rewards and how are they distributed?
- 42 Why Elrond Gold (eGLD)?
- 43 What Is Elrond Attempting To Achieve?
- 44 When can I delegate in the Waiting List?
- 45 History of Elrond
Overview of Elrond
In T.A.2941, Elrond welcomed Thorin and Company into his home, the Last Homely House before the wild.On Midsummer’s Eve – the night before the Dwarves, Bilbo, and Gandalf continued on their journey eastward – Elrond examined the swords which they had found in the trolls’ cave.He read the runes and revealed that Thorin’s sword was called Orcrist, the “Goblin-cleaver”, and that Gandalf’s sword was named Glamdring, the “Foe-hammer”.He told them that they were Elven swords from the ancient city of Gondolin, destroyed long ago.He then looked at Thrór’s Map and found that there were moon-letters.From the moon of that midsummer’s eve he could read the words: ‘five feet high the door and three may walk abreast’ and ‘stand by the grey stone when the thrush knocks and the setting sun with the last light of Durin’s Day will shine upon the keyhole’.This information proved vital for Bilbo and the Dwarves to enter the Lonely Mountain through its secret entrance.
Elrond is “a highly scalable, fast and secure blockchain platform for distributed apps, enterprise use cases and the new internet economy.” Its goal is to improve blockchain speed, scale, cost, and user experience to create a digital economy accessible to anyone, anywhere.Elrond focuses on scalability, security, and efficiency, and being a developer-friendly platform to help accomplish goals.Elrond’s Adaptive State Sharding is a critical feature that focuses on improving scalability.Typically, blockchain sharding has to consider advantages from the three main types of sharding: State, Transactions & Network.To build the most scalable blockchain, Elrond designed Adaptive State Sharding, which combines all three sharding types into a solution that “improves communication inside the shards and dramatically increases performance through parallel processing.This combined sharding type allows scalability without affecting availability, fast dispatching & instant traceability, and efficiency & adaptability.Elrond is the “first blockchain network in which state, network, and transaction sharding have all been implemented.” Another key feature of the Elrond Network is the Secure Proof of Stake consensus approach.It eliminates Proof-of-Work computational waste and combines eligibility through stake and rating with random validator selection and an optimal dimension for the consensus group.It is innovative because validator nodes are selected for consensus out of a shard.The steps taken by the validators to complete the consensus process are done as efficiently as possible.The Secure Proof of Stake consensus protocol maintains a high-security level through random samplings of the consensus group and random reshuffling of nodes into other shards.The Elrond Virtual Machine, named Arwen, is the third of the key features of Elrond that help it to create a new digital economy.Arwen is a dedicated smart contract execution engine built on WebAssembly (WASM).Smart contract developers have access to an expanded family of languages, which means you can write smart contracts in whichever language you’re familiar with.The Elrond VM is both stateless & features out-of-process execution.These features help Arwen be built to be as fast and secure as possible, without adding unneeded restrictions.Together these three key features of the Elrond Network work together to create a “distributed transactional computation protocol which relies on a sharded state architecture and a secure Proof of Stake consensus mechanism.”
Of the remaining 56%, 7% was reserved for ecosystem rewards, with 50% released immediately and 50% after six months; 8.5% for marketing, grants and an accelerator pool for DApp developers, with 81.17% released immediately and 9.41% every six months; 2% for a community fund, with 33.3% released immediately, 33.3% after six months and 33.3% after 12 months; 2.5% for advisors, released after one year; 19% for Elrond's founders and core team members, with 10% released after six months, 10% after 12 months, 15% after 18, 24, 30 and 36, and 20% after 42 months; and 17% for the company for ecosystem support, with 33.3% that can only be used for staking during the first year released immediately and 66.6% released in three equal installments over three years, starting after one year.
Elrond staple features, such as 30% royalties for smart contract authors, upgradeable smart contracts, relayed transactions and tokens transferable at native protocol speed & costs, can provide essential differentiators that can help Injective Protocol stand out from their competitors and further their mission of creating a truly decentralized and highly performant DeFi layer.
Can I delegate more than once from the same wallet?
Yes, you can.Each delegation will be considered for the rewards calculation based on the amount and time of sending.
If you have news relating to anything
from the world of Tolkien we’d love to
hear from you.
Like what you’re reading?
Get to work in a fast growing industry.Start learning blockchain together with our 20,000+ students today.Use coupon code BLOG20 for 20% off.
What amount of eGold can I delegate?
There is a minimum of 10 eGold and no maximum.
Where Can You Buy Elrond (EGLD)?
EGLD can be purchased on cryptocurrency exchanges such as Binance, OKEx, Bitfinex and BitMax.It can be traded against fiat currencies such as the U.S.dollar and Indonesian rupiah, cryptocurrencies such as Bitcoin (BTC) and Binance Coin (BNB), and stablecoins such as Tether (USDT) and Binance USD (BUSD).It can be bought and sold on both spot and derivatives markets.
Did you know?
Elrond is loaded with Lord of the Rings references, like Arwen (its virtual machine for smart contract development and Maiar (its payments app).
Elrond: Flight to the Moon or Journey to Valinor?
Elrond (eGLD) is another attempt to solve the age-old problems of bitcoin in the form of low transaction speed and excessive energy consumption.What interesting do the Romanian developers offer, and what does the elven lord Elrond, a character from the legend of J.R.R.Tolkien have to do with it? Let’s try to figure it out.
Did Elrond had the gift of foreseeing in the books?
I am rewatching the movies right now and this question often crosses my mind when the films speak of it.But I can't remember that I've read of it in the books.
How Does Elrond’s Adaptive State Sharding Work?
Elrond Network prides itself on its unique approach to the sharding technology, a long-present database optimization technique slowly establishing itself as part of some blockchain-based solutions.
Have you seen?
Get informed about the latest products and offers per email.
What can you do with Elrond?
Elrond is designed to be the backbone of decentralized apps, whether it’s related to finance or other needs.Extensive scalability means that it can handle significant growth, with sharding used to maintain the pace of transactions even as demands increase.
Can I claim my delegation rewards?
Yes, use the “Claim now” button in the wallet.All the available eGold will be sent to you immediately.You can repeat the process every 24 hours, after the distribution of the staking rewards each epoch.You can choose to delegate the rewards in the Waiting List at any time.
Why stake on Elrond?
Genesis staking is the final phase leading to the Elrond Mainnet launch.Thus all Elrond eGold (EGLD) holders are incentivized to support the Elrond network and mainnet launch, by locking their EGLD into a smart contract, contributing to reach the necessary economic security threshold, and earning rewards while delegating or running a validator node.
How Many Elrond (EGLD) Coins Are There in Circulation?
The Elrond economic model has a limited supply that starts at 20,000,000 EGLD, with new tokens minted to reward network validators.The maximum supply can never exceed 31,415,926 EGLD, but this number will decrease as more transactions are processed.
How can I delegate into the Waiting List?
Go to https://wallet.elrond.com and click on the “Delegate” section in the left.An intuitive interface will help you to delegate into the Waiting List, claim Active Delegation rewards and withdraw from Active Delegation.
How Is the Elrond Network Secured?
Elrond uses what it calls a secure proof-of-stake consensus algorithm in which nodes must stake their EGLD tokens to participate in the validation process, and each validator is assigned a rating score based on past activity, which also influences whether or not they are selected.If a validator's rating becomes too low, it will not be selected and must pay fines.Validators can also be removed from the network and have their stakes slashed if they continuously act in a manner that is against the integrity of the network.
What is Elrond?
The Elrond Network is a public blockchain created to provide high-level scalability, interoperability, and high throughput.The goal is to create a decentralized network that can provide the same or better performance when compared with centralized networks, while also providing users with greater privacy.
Want Daily EGLD Price Updates?
What is Elrond?
Elrond is a smart contract enabled blockchain network.Smart contracts are code that is uploaded to the blockchain.
What is it?
Elrond IDE is an extension for Visual Studio Code that offers development support for Elrond Smart Contracts.
Is Elrond a Good Investment?
On paper, Elrond is a much better solution for a smart contract enabled blockchain than Ethereum.It’s cheaper to use and magnitudes more scalable.
Tired of ads?
Join today and never see them again.
Is there a waiting time for withdrawing from the delegation waiting list?
No, you can withdraw whenever.Once your delegation is upgraded from the Waiting List to Active delegation, the 10 days unbonding period will apply from that point forward.
What is eGold?
eGold (EGLD) is the native cryptocurrency used on Elrond’s platform.When the platform launched, the cryptocurrency was an ERC-20 token built on Ethereum.
What is Elrond?
Following the launch of Harmony (ONE), ERD will be the second token to be launched on Binance DEX first, with the help of the Binance Chain.The token sale is supposed to take place on July 1st 2019, with the organizer hoping to raise some USD 3.25 million.The sale will follow a lottery format which includes making records of the Binance Coin (BNB) balances owned by users.A total of 20 billion ERD tokens is expected to be created, of which some 37% are planned to be released initially.
What is Elrond?
Elrond is a blockchain designed for immense scalability and significant transaction throughput thanks to its adaptive state sharding system, which enables transactions to be handled rapidly by multiple validators.
What Makes Elrond Unique?
Elrond describes itself as a blockchain platform for the new internet economy, decentralized applications and enterprise use.Its main selling point is its high scalability, stating that it is the first blockchain network in which state, network and transaction sharding have all been implemented.According to its economics paper, it seeks to build up its ecosystem and establish EGLD as a store-of-value asset.
Can I withdraw my previously delegated amounts?
Yes, you can.If and when you decide to withdraw, the 10 days waiting period for unbonding will apply.
What Is Elrond (EGLD)?
Elrond is a blockchain protocol that seeks to offer extremely fast transaction speeds by using sharding.The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralized finance and the Internet of Things.Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency and a $0.001 transaction cost.
What is Elrond?
Elrond is a super-fast, highly secure, and scalable blockchain that helps businesses and individuals benefit from the “new internet economy”.Used by businesses worldwide, Elrond is providing a simple path to the new digital financial landscape.The Elrond blockchain is up to 1,000 times faster than many competing blockchains.Furthermore, the scope for scalability is unprecedented.
What’s so special about Elrond?
Elrond’s creators suggest that the technology is to previous blockchains what broadband was to dial-up connections, enabling dramatically greater bandwidth to handle higher volumes of transactions and more demanding decentralized apps.While targeted at dapp developers, Elrond also aims to be a more consumer-friendly blockchain platform, as first demonstrated via its Maiar payments app.
How does Elrond work?
Sharding is a technique that breaks data down into smaller pieces and distributes them across multiple chunks of the network, or shards, each comprising a number of nodes that process transactions.
Who Are the Founders of Elrond?
Elrond was co-founded in late 2017 by brothers Beniamin and Lucian Mincu alongside Lucian Todea as a solution to the problem of blockchain scalability, which they thought to be the most pressing problem facing the industry.
What is Elrond Network (ERD)?
Elrond is a high-performance blockchain that aims to provide extremely high network speeds of up to 10,000 transactions per second.The network supports smart contracts, thus allowing programmers us the WASM VM engine to develop both enterprise and commercial decentralized applications.Elrond promises ‘internet-scale blockchain‘ as its extremely fast and scalable nature means it can handle all the stresses of modern applications and allows the masses to access the digital economy.The platform native currency, $ERD, is used as a form of value transfer on the network and will also be required to interact with decentralized applications.
What are the Waiting List rewards and how are they distributed?
4,000 eGold is distributed each week to all participants, proportional to the amount staked and time spent in the queue, up to 20% APR per participant.
Why Elrond Gold (eGLD)?
At its core, there is nothing wrong with the native ERD token.However, it also limits the project in terms of what can be achieved.Creating a currency that can transcend beyond what Bticoin has achieved is not an easy feat.In fact, it requires a lot of hard work and dedication first and foremost.According to the team, the switch to Elrond Gold will allow them to build a robust digital currency capable of becoming a global reserve for the digital economy.
What Is Elrond Attempting To Achieve?
While Elrond is still at the test stage, its developers see it as the future foundation stone of an open, borderless and globally accessible digital economy.This is to be achieved by turning Elrond into a platform with scalable value transfer protocol, paired with easier deployment of decentralized apps (dApps).This is to be helped by the fact that Elrond team features an equal measure of professionals with an entrepreneurial and technical backgrounds, who previously worked at Google, Microsoft and Intel and were part of the NEM blockchain platform.
When can I delegate in the Waiting List?
You can delegate at any time.Each delegation will be considered for the rewards calculation based on the amount and time of sending.