Elrond EGLD/USD has two unique features that make it stand out.
First you have adaptive state sharding, which is the process of splitting the Elrond infrastructure to support more transactions as well as programs.
Second, you have secure proof-of-stake (SPoS), which is the consensus mechanism used to sync separate network components into a common ledger.
As such, this is a blockchain that attempts to offer fast transaction speeds through the use of sharding.
If you’re curious, sharding works in the way through which it splits the network into pieces or shards, for nodes to only have to really process a fraction of all of the transactions. Furthermore, once every 24 hours, a third of the nodes validating the transactions within each of the shards are reshuffled in a new shard, and the intention here is to prevent collusion.
New EGLD coins are minted through the SPoS consensus mechanism that validates the transactions. It is used to select validating nodes to produce blocks within a shard, rather than the entire network, keep this in mind.
By owning and staking EGLD, users can vote on network upgrades and are rewarded with EGL as a result, proportional to the amount which they staked.
Elrond Developments
On May 20, Holoride, the Audio spinoff which creates in-vehicle XR passenger entertainment experiences, announced that it will be deploying blockchain technology and NFTs as the next stage in its preparation for a 2022 market launch. To do this, they will be integrating the Elrond blockchain into its tech stack with the intention of bringing transparency to the ecosystem.
On June 7, Maiar, the blockchain app that is powered by the Elron Network, joined the
