Hello dear friends! Today we continue to talk about the Elrond project. In this article, I will try to compare Elrond's innovation in blockchain technology and its position among its current competitors in the market.
Bitcoin Blockchain technology has come into our lives as a major breakthrough, but bitcoin's technological capabilities doom it to lag behind in use in some areas. If we used bitcoin in our day to day business, our payments would wait days to progress across the network, such demand density would not be provided. Bitcoin coming out of our wallet may wait online for a few days to pay for a normal event we perform in-store for any small daily purchases, and there may be issues with purchases like canceling payments. Bitcoin at this point is in a position that is important for daily trading and can be used as a means of storing value rather than being available.
The fact that many post-bitcoin cryptocurrencies have emerged and claimed ownership was precisely for the purpose of eliminating these and similar problems. The demand to make crypto assets available for simple purchases made in everyday life and to make life easier than beer has led to the formation of thousands of assets in the grocery store. Many are struggling to survive as projects and jobs that do not live up to promises or roadmaps, otherwise there is no reason why they should not disappear completely from the market as a result of their increasingly difficult situation. They are not very different from the grains of sand on the beach due to innovations they were unable to implement and coin tokens in a similar condition.
However, Elrond realized that many of the tasks that did not live up to the long-term promises and roadmaps that were delayed by the TPS ( transaction Thu second) assessments he performed on the test network failed. Compared to Ehereum, instead of a method based on unnecessary energy costs such as POW, a method based on PoS-based SPOs logic is used with a rational and energy-efficient method. In the case of comparison to an algorithm, instead of working with a single chain, it splits the mapping and splits it. Block generation is performed in a shorter time compared to the algorithm, and the TPS (transaction Thu second) score is much higher.
About the token:
Project team:
Advisors
Project road map:
Conclusion:
The evidence suggests that Elrond is very profitable to its competitors in the market, and an improved version of the environmental POS algorithm (SPOS) also seems reasonable and acceptably compatible with POS security (SPOS).
Thank you for attention!
All useful links can be found below:
Website: https://elrond.com
Whitepaper: https://elrond.com/files/Elrond_Whitepaper_EN.pdf
Telegram: https://t.me/ElrondNetwork
FACEBOOK: https://facebook.com/elrondnetwork
TWITTER: https://twitter.com/elrondnetwork
MEDIUM: https://medium.com/elrondnetwork
REDDIT: https://reddit.com/r/elrondnetwork
YOUTUBE: https://www.youtube.com/channel/UCRLKQHcjuWW_-JOZ-DqQTXw
GITHUB: https://github.com/elrondnetwork
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