Elrond describes itself as a new blockchain architecture, designed to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two features: Adaptive State Sharding mechanism, and a Proof of Stake (PoS) algorithm, enabling linear scalability with a reportedly fast, efficient, and secure consensus mechanism. Thus, Elrond can reportedly process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost. It aims to become the backbone of a permissionless, borderless, globally accessible internet economy.
3 million users of the Crypto.com platform will now be able to purchase ERD. The Crypto.com app allows converting crypto to fiat easily, with the cash balance then loaded onto their Visa card.
The Trusted IoT Alliance has just welcomed Elrond as a new member. The Elrond Network, with its high throughput and sharding, is expected to bring benefits to the Internet of Things.
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