What is Elrond?
Elrond is a blockchain-based platform that seeks to provide a high-throughput, low-latency, and secure platform for decentralized applications (dApps).
It is built on a novel Adaptive State Sharding architecture that enables the network to scale to thousands of transactions per second. Elrond’s consensus mechanism is based on a hybrid Proof-of-Stake (PoS) and Secure Proof-of-Stake (SPoS) model. This allows for secure and fast transactions with minimal energy consumption.
Elrond also features a unique smart contract language called eWASM, which allows developers to write code in any language they choose. This makes it easier for developers to create dApps on the Elrond platform. Additionally, Elrond has its own native token called EGLD, which can be used to pay for transaction fees and rewards validators who help secure the network.
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