The Elrond architecture introduces a genuine State Sharding approach for practical scalability. It eradicates energy and computational waste while leveraging a Secure Proof of Stake (SPoS) consensus mechanism to guarantee fairness. The Elrond Network focuses on security. It is developed to ensure resistance to security issues such as Nothing at Stake attack, Rogue-key attack, Sybil attack, etc. In an ecosystem striving for interconnectivity, the solution of Elrond for smart contracts provides an EVM compliant engine ensuring interoperability by design.
Various challenges need to be solved properly while developing a revolutionary public blockchain solution designed to scale:
- Full decentralization—eradicates the need for a trusted third party and any single point of failure.
- Robust security—enables secure transactions as well as prevents attacks based on known attack vectors.
- Bootstrapping & storage enhancement—ensures a competitive synchronization and data storage cost.
- Efficiency—performs every network service with little computational and energy requirements.
- High scalability—allows the network to “achieve a performance at least equal to the centralized counterpart, as measured in TPS.”
- Cross-chain interoperability—enforced by design, allowing unlimited communication among external services.
Starting from the said challenges, Elrond is designed as a radical rethinking of a public blockchain infrastructure, developed to be scalable, interoperable, secure, and efficient.
Adaptive state sharding
Elrond presents a dynamically adaptive sharding mechanism which allows shard computation and reorganization according to the number of active network nodes and necessity. Reassignment of nodes within the shards at the start of every epoch is nondeterministic and progressive, inducing zero temporary liveness penalties. Adaptive state sharding has more challenges than the static model. A key point resides in how shard-merging and shard-splitting is performed to stop overall latency penalties.
Secure Proof of Stake (PoS)
An improved PoS variation which guarantees long-term distributed fairness and security, while eradicating the necessity of energy-intensive PoW algorithms. Elrond offers an innovation that minimizes the latency enabling every node in the shard to determine consensus group members (validators and block proposer) at the start of a round. It is possible due to the utilization of the last block’s aggregated signature as a randomization factor. Elrond also refines its consensus mechanism by putting an extra weight factor, rating.
|Pre-Sale||2019-03-25 – 2019-04-10|
|Token Sale||2019-04-25 – 2019-04-29|
|Accepting||ETH, EUR, BTC, USD|
|Hard Cap||4,750,000 USD|
|Whitelist/KYC||KYC & Whitelist|