Country: Malta
A highly scalable, fast and secure blockchain platform for distributed apps, enterprises and the new internet economy.
Elrond is a novel blockchain architecture which goes beyond the state of the art by introducing a genuine state sharding scheme for practical scalability, eliminating energy and computational waste while ensuring distributed fairness through a Secure Proof of Stake (SPoS) consensus.
Having a strong focus on security, Elrond’s network ensures mathematically verifiable resistance to known security problems like Sybil attack, Rogue-key attack, Nothing at Stake attack and others.
In an ecosystem that strives for interconnectivity, our solution for smart contracts offers an EVM compliant engine to ensure interoperability by design.
Preliminary simulations suggest that Elrond exceeds Visa’s average throughput and achieves an improvement of three orders of magnitude or 1000x compared to the existing viable approaches, while drastically reducing the costs of bootstrapping and storage to ensure long term sustainability.
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