The project of Elrond is a specific blockchain-a platform that is already known as a worthy competitor to Ethereum, Algorand and Zilliqa. The project can be a breath of fresh air in the world of technology, which will solve the scalability problem. Some even predict his creation of high-quality precedent for the interaction of the blockchain and the real economy.
The main objective of the project is the creation of new architecture of the blockchain, which will go beyond the maximum current level of scalability. This is done using adaptive sharding Protocol, and the consensus SPoS (Secure Proof of Stake). At the same time, considerable attention is paid to efficiency in the field of security and confrontation to these types of attacks, like Rogue-key, Sybil, Nothing at Stake and others.
The bet is placed on keeping a balance between parameters such as decentralization, scalability and security. In any project view you can call a specific rethinking of the basic architecture of the blockchain.
During the birth of the Internet humanity has obtained something more than a useful technology. The planet has a tool that allows you to instantly obtain and share any of the information. Subsequently, the development of technology went truly “leaps and bounds”, which led to greater speeds and capabilities.
At the same time, the public Internet has lost that independence and lack of control, about which many have dreamed. In the hands of state-controlled structures were powerful tools of tracking and control. And because of this there is a need to implement radically new network layer. Layer that retained all those characteristics that are valued by many, and, thus, provide the necessary level of decentralization.
That is the goal, starting in 2017, engaged in the project team Elrond. Their task is the creation of a new Internet infrastructure that will have:
the highest level of scalability;
a more serious indicator of the confidential information;
the ability to resist censorship of the Internet applications and technologies;
the ability to run different models of management within the network.
It is for this purpose launched the project, which now supports multiple languages subspecies to create smart contracts.
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