What Is Elrond?
Elrond is a blockchain platform for creating a completely new level of secure applications (dApps) based on smart contracts.
The goal of Elrond is a limitless global digital economy in which all cryptocurrencies and blockchains are compatible.
The Elrond project is a specific blockchain platform that is already being called a worthy competitor for Ethereum, Algorand and Zilliqa. The project can be a fresh breath of air in the world of technology, which will solve the problem of scalability. Some even predict that it will create a high-quality precedent for the interaction of the blockchain and the real sector of the economy.
During the birth of the Internet, humanity received something more than just another useful technology. A tool has appeared on the planet that allows you to receive and transmit any information almost instantly. Subsequently, the development of the technology went really "leaps and bounds", which led to even more serious speeds and capabilities.
At the same time, the public Internet has lost the independence and lack of control that many dreamed of. In the hands of the structures controlled by the authorities, powerful tracking and control tools turned out to be in place. And precisely because of this, there was a need to implement a fundamentally new network layer. A layer that retained all the characteristics that many people value, and, at the same time, provided the necessary level of decentralization.
This is the goal that the Elrond project team has been working on since 2017. Their task is to create a new Internet infrastructure that will have:
- the highest level of scalability;
- a more serious indicator of information privacy;
- the ability to resist censorship of internet applications and technologies;
- the ability to launch radically different management models within the network.
- It is for this purpose that we have launched a project that already supports several subspecies of languages for creating smart contracts.
The two main technologies on which the project is based:
- Adaptive sharding
- SPoS (Secure Proof of Stake)
Today, the Elrond price is $181.53. At the time of entering the market, its price was just over $ 17.
Buying Elrond
Elrond is quite common on various exchanges, because it is among the top 50 cryptocurrencies by market cap. If you are viewing Elrond news, you have heard a lot about the prospects of cryptocurrency and the opinions of experts about it. Therefore, you can easily find the ERD coin on such platforms as Binance, Coinbase, EXMO, Kraken, OKEx and others. However, it should be understood that to purchase cryptocurrency from a credit card, you must first purchase Bitcoin, which will later be exchanged for Elrond.
If you have any other cryptocurrency, then there will be no difficulty for you to get an EGLD. To buy crypto tokens for fiat money, you need to register and verify on the exchange. If you exchange one cryptocurrency for another, it is much more convenient, faster and safer to make a transaction through an anonymous exchanger.
For example, Godex, which provides the ability to convert without registering and entering any personal data. Everything is as anonymous and secure as possible, and with some of the lowest exchange fees.
Circulation of Elrond
At the Elrond price of $181.79, there are 17,402,217 EGLD coins in circulation. This is about 55% of the total supply that will be achieved in the future. A total of 31,415,926 Elrond tokens are expected to enter the market. However, this number will also decrease.
Can You Mine Elrond?
Of course, the fact that not all Elrond crypto coins are currently available on the network already pushes for an answer about whether it is possible to mine EGLD. At the time of entering the market, the developers gave free access to only a small part of all the resources, leaving the rest for rewards, marketing, team, etc.
How can I get coins? EGLD cryptocurrency is not mined using traditional POW mining. You can get money either by participating in the maintenance of the network, or by using staking. Coin holders help the validator make the bid necessary to run a trusted node by entering their tokens into a smart contract.
Thus, they contribute to the achievement of the necessary threshold of economic security and receive a percentage of its income. To supply or delegate your Elrond tokens, you need to connect to the network via the MetaMask app.