Elrond is a blockchain that espouses innovative technological solutions with the intention to create a unique network which can help enterprises minimize their costs and improve the quality of their operations. Excellent scalability is one of the major advantages of the Elrond blockchain compared to its competitors. Its approach to sharding, the process of distributing data across the network, called “Adaptive State Sharding," demonstrates better performance thanks to parallel processing. As a result, the Elrond network boasts exemplary scalability, which makes it perfect for both small and large decentralized applications which can be built on top of it.
Elrond eGold (EGLD) is a native token of the Elrond blockchain, which has a variety of functions. It grants governance rights to the users of the network and powers smart contracts. Additionally, it is used in staking, which allows holders of this token to lock their EGLD funds in a smart contract to ensure blockchain security and receive more EGLD as a reward in return.EGLD Payment benefits:
- Speed of Transactions
The Elrond blockchain can process up to 250,000 transactions per second which makes the process of transferring EGLD almost instant.
- Security of the Blockchain
Elrond employs a secure consensus called "Secure Proof of Stake," which maintains excellent security.
- Small Transaction Fees
The blockchain recognizes the importance of cheap crypto transactions and keeps fees for transferring EGLD at a low level.
- Environmental Sustainability of Elrond
According the Elrond devs’ calculations, Elrond is 6,24 million times more efficient than Bitcoin