The Elrond community is a public blockchain created to offer excessive-stage scalability, interoperability, and excessive throughput. The aim is to create a decentralized network which could offer the equal or higher performance when in comparison with centralized networks, whilst additionally presenting customers with greater privacy. The Elrond network plans on accomplishing those goals via its particular era Adaptive country Sharding, and through using the comfortable proof of Stake (SPoS) consensus mechanism. The ERD token is what powers the network, appearing because the entry point for the network, and presenting the approach to pay for transactions, dApp deployment, storage, smart settlement execution and rewards to validators. Transaction fees are break up between validators and the Elrond Тetwork Fund.