A scalable value transfer protocol for the digital economy
Comparable in throughput as to centralized counterparts.
Our architecture goes beyond state of the art and can be seen as an augmentation of the existing models, improving the performance while focusing to achieve a better nash equilibrium state between security, scalability and decentralization.Read More
Minimal energy and computational requirements.
Elrond eliminates the need for intensive PoW consensus algorithms and proposes a novel and more robust Secure Proof of Stake consensus, enhancing intra-shard communication and pruning the blockchain state to the most essential.Read More
Increased security due to the randomly selected block proposer.
Elrond introduces an improvement which adds security and reduces latency, allowing each node in the shard to determine the members of the consensus group (block proposer and validators) at the beginning of a round. This is possible because the last block’s aggregated signature is used as the randomization factor.Read More
Decentralizing cross-blockchain operations.
The Elrond Virtual Machine’s implementation will hide the underlying architecture isolating the smart contract developers from system internals ensuring a proper abstraction layer. In Elrond, cross chain interoperability can be implemented by using an adapter mechanism at the Virtual Machine level. This approach requires specialized adapters for each chain that is non EVM compatible and wants to operate with Elrond.Read More
Elrond "Zero to One" Testnet
The Elrond testnet has low system requirements and can run on anything from an ordinary computer to T2 medium AWS machines. This iteration consists of static state sharding, secure proof of stake consensus, Schnorr signature for transactions, BLS signatures for random seed generation, and modified BLS multisig for blocksigning.
Metrics that are being monitored to check improvement of the network include: latency, bandwidth limitations, running each validator node on a separate machine with very limited compute power (average dual-core CPU with 4Gb of memory), in different geographic locations.
Key stats for the current testnet are as follows:
- Sharding setup: 5 Shards + Metachain
- Nodes: 500 x AWS T2.medium (validator nodes) and AWS 12 x T2.large (observer nodes)
- Nodes per shard: 83
- Consensus: BLS round every 6 seconds on each shard
- Consensus size: 63 nodes per shard
- Max-Blocksize: ~800KB
- Peak-TPS: ~12,500
The team is currently working on improving the network stack used for communication to reduce the bandwidth and network overhead within the consensus group of each shard.
Building the future one step at a time
Strong investors backing
the team and vision
"Elrond's outstanding contributions rest on two foundational building blocks: Adaptive State Sharding and Secure Proof of Stake consensus, enabling fast and secure decentralized networks. The team has a clear go-to-market strategy to achieve mass-adoption by shipping the infrastructure for fast, intuitive and engaging dApps. We're excited to be working together to push blockchain technology towards mass-adoption."
- Ella Zhang, the Head of Binance Labs
Lucian Mincu - "Two awesome sharding teams 🤓 @ #eth 2.0 road to #interop workshop lead by @VitalikButerin ... "
3750+ TPS in a single shard, 30x improvement in throughput compared to our prototype. #elrondtestnet
Getting close to testnet v.01 - The office view can sometimes be distracting
Last night was great!
Innovation, networking and crypto community. Thank you
Highlights from our blog
Elrond team tokens locked until 2020 and vesting extended to 3.5 years
"Thank you for being part of the Elrond family. Exciting times ahead of us!
We have officially announced the closing of our private round yesterday. We have raised $1.9 Million from Binance Labs, Electric Capital, NGC Partners, Maven 11, and Authorito Capital. The round also included..."
After Exceeding 10k TPS in Testnet, Elrond Is Going Open Source
"When Elrond was founded at the end of 2017, we set out to build the first truly scalable blockchain architecture. One that could bring a 1000x improvement in throughput and execution speed. If we could deliver, it was clear this contribution would significantly change the space, much like how the internet changed..."
Elrond Initiates Cooperation With SmartBill — a leading SaaS provider for invoicing, inventory management and accounting
"St. Julian's, Malta and Bucharest & Sibiu, RO — 6h June, 2019 — Elrond, the technology company developing a scalable and more efficient blockchain platform, is proud to announce a cooperation agreement with SmartBill..."
Security focused Q&A
"The security of our network is of paramount concern to us, thus we are starting a series of posts that discuss our robust design. For a start, this article answers two important questions that came up during our recent interactions with developers Q: How do you mitigate if a malicious group creates a signed block with bad cross-shard transactions ? ...”
Elrond improvement: Change in Consensus and Randomness Source
"After the initial proposal that came with the Elrond Whitepaper almost one year back, in May 2018, there have been multiple improvements discussed internally and built into the source code. Most of these improvements, which could have been nice updates for the Whitepaper, have somehow landed ... ”
Elrond Initiates Cooperation With Nash — a platform for decentralized cryptographic trade and payment service creation
"St. JULIANS, MALTA and VADUZ, LICHTENSTEIN — 28th March , 2019 — Elrond Ltd, the technology company developing a scalable and more efficient blockchain platform, is proud to announce a cooperation agreement with Nash — a platform for ... ”
Welcoming Grigore Rosu as Advisor to Elrond
"When taking into consideration recent developments and current market conditions, some might get discouraged about what the future holds. For, this is the best time to double down, focus, and give the best we have. Thus, it is with great pleasure that we strengthen our project by on-boarding yet another experienced advisor ... ”
Help build the Elrond ecosystem and be rewarded
“ICOs haven’t done very well, we all know that. This blog piece will go a bit into Token Economic Theories, how previous projects have failed to understand, and make use of the most powerful aspects of any Token based EcosystemCryptocurrencies grow in value ...”
Elrond initiates cooperation with Distributed Systems Research Laboratory (DSRL) - TUCN
“St. JULIANS, MALTA and CLUJ-NAPOCA — 12.02. 2019 — Elrond Ltd, the user-friendly blockchain for deploying programmable money and unstoppable applications, has today announced a new cooperation agreement with Distributed Systems Research Laboratory...”
Vision, roadmap, milestones
“As the new year begins, we’re taking some time to recalibrate our vision, refresh our roadmap, and set the stage for our next significant milestone. Making sense of the crypto winter The promise of blockchain technology has brought tremendous excitement and euphoria, reaching a local peak in December 2017 ...”
Looking back on 2018
“Dear friends, As the year is ending, it is a good time to take a step back and reflect on the important things we’ve achieved throughout 2018, and look ahead to see what 2019 will bring. Startups are hard; quality teams and products are not built over night; crypto projects might be even ...”
Is Ethereum 2.0 overlooking communication costs?
“Serenity is a term used to describe a series of potential updates to Ethereum, which attempt to address scalability with minimal impact on decentralization and security. In simpler terms to make it a faster and better environment for smart contracts and DApps.
Ethereum tries to overcome the ... ”
Elrond’s Design Rationale
“The two problems that Elrond tries to solve from the get-go are increase in throughput — achievable through sharding and decrease in energy expenditure — achievable through moving from a proof-of-work based consensus to a proof-of-stake consensus. Each of these two prongs require different aspects to be taken into consideration when designing the architecture ...”
Partnership Announcement — Elrond Initiates Cooperation With Leading Payment Provider NETOPIA Payments
“Elrond Ltd,the technology company developing a new, scalable and more efficient blockchain platform, supporting negligible fees and a finality of just a few seconds, today announced a new agreement with one of the leading payment providers...”
Elrond technical progress update — some talk about it, we build it #3
“ New whitepaper update, architecture highlight, Elrond node and wallet open source release, preparation for testnet launch
1 - New whitepaper update: A more refined technical paper detailing Adaptive State Sharding and Secure Proof of Stake... ”
The Elrond Fellowship — Ambassador Program
“ Knowledge, wisdom and expertise must not be bound by borders thus we believe that only through the empowerment of individuals across the globe we can build a strong organic community that can deliver a scalable value transfer protocol for the digital economy. ”
Elrond — Community update #2
“ It’s been a busy period for the Elrond team. Among key developments, our agenda was filled with events and discussions around the world (4 countries, 6 cities, 7 meetups). The goal of our recent travels was to actively seek feedback from our community as they will be the ultimate users of our work. ”
YABP (Yet Another Blockchain Primer)
“ Evaluating complex systems characteristics is always a hard task, because the more complex a system is, the more different it will be from any other system, even if their stated goal is the same. In the distributed systems’ world the word du jour is distributed ledger (often represented as DLT, where T stands for Technology). ”