Re: 🔥🔥🔥 [ANN] Elrond - Sharded layer one protocol with near instant TX speed
Elrond: High-throughput public blockchain with Adaptive State Sharding - (by Paradigm fund)
+ HERE: Full review on Elrond Network
Summary
To sum up, Elrond looks like a very promising project. It has a working (in a testing environment) solution for scalability problems, and that could really disrupt the market if the same result will be seen on the mainnet. Unlike most of its competitors Elrond supports a lot of programming languages, the smart contract languages are formally defined in K Framework, it is possible to perform formal verification of smart contracts written in these languages.
Elrond is a kind of “all-rounder” type of project, it can be considered Layer 1, Layer 2, and Interoperability project. It is both a strength and weakness: Elrond has a lot of potential use-cases and can choose it’s focus further down the line, but at the same time there is a risk of becoming “Jack of all trades, master of none”.
Elrond has a lot of competitors and they have been in the game for a longer time, so Elrond will have to act quickly and try to launch a marketing campaign that will be able to attract anchor clients and core users. Right now it is hard to compete with Elrond tech-wise, but their next challenge and opportunity will focus on how they will attract users and developers.
Competitors: https://docs.elrond.com/detalied-comparative-analysis/elrond-vs.-ethereum-serenity
Elrond marks Ethereum (2.0), Zilliqa, Dfinity, Algorand, Harmony, Quarkchain and Multivac as their competitors and they have written a detailed comparison to each of the aforementioned companies.
If I were to outline the main differences between those companies and Elrond they would be as follows:
1- Consensus mechanism — SPoS, this novel consensus is much more efficient than PoS or HPoW;
2- Sharding — not all of the competitors even use sharding, but those who use lack wholesome approach, Elrond’s adaptive state sharding is the state of the art;
3- Cross-shard operations — there is a larger overhead in communication compared to the Elrond architecture;
4- The finality of the cross-shard transactions is much shorter in Elrond.
Look here, you will know
+ HERE: Full review on Elrond Network
Summary
To sum up, Elrond looks like a very promising project. It has a working (in a testing environment) solution for scalability problems, and that could really disrupt the market if the same result will be seen on the mainnet. Unlike most of its competitors Elrond supports a lot of programming languages, the smart contract languages are formally defined in K Framework, it is possible to perform formal verification of smart contracts written in these languages.
Elrond is a kind of “all-rounder” type of project, it can be considered Layer 1, Layer 2, and Interoperability project. It is both a strength and weakness: Elrond has a lot of potential use-cases and can choose it’s focus further down the line, but at the same time there is a risk of becoming “Jack of all trades, master of none”.
Elrond has a lot of competitors and they have been in the game for a longer time, so Elrond will have to act quickly and try to launch a marketing campaign that will be able to attract anchor clients and core users. Right now it is hard to compete with Elrond tech-wise, but their next challenge and opportunity will focus on how they will attract users and developers.
Competitors: https://docs.elrond.com/detalied-comparative-analysis/elrond-vs.-ethereum-serenity
Elrond marks Ethereum (2.0), Zilliqa, Dfinity, Algorand, Harmony, Quarkchain and Multivac as their competitors and they have written a detailed comparison to each of the aforementioned companies.
If I were to outline the main differences between those companies and Elrond they would be as follows:
1- Consensus mechanism — SPoS, this novel consensus is much more efficient than PoS or HPoW;
2- Sharding — not all of the competitors even use sharding, but those who use lack wholesome approach, Elrond’s adaptive state sharding is the state of the art;
3- Cross-shard operations — there is a larger overhead in communication compared to the Elrond architecture;
4- The finality of the cross-shard transactions is much shorter in Elrond.
https://ELROND.com - A scalable value transfer protocol for the digital economy (10k tx/sec - minimal latency - negligible fees)
What time desktop wallet is ready?
Look here, you will know