Elrond
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About Elrond

Elrond is a blockchain network that aims to offer an "internet-scale" blockchain with the utmost scalability, efficiency, security, and interoperability for enterprises. It combines Adaptive State Sharding and its unique Secure Proof of Stake (SPoS) consensus mechanism to achieve this. The scalability issue of blockchain networks is a concern for many, and Elrond aims to solve this problem to improve blockchain scalability.

The network claims to process more than 10,000 transactions per second with low transaction fees of $0.001 each and fast finality, thanks to its combination of adaptive state sharding and secure proof-of-stake consensus mechanism. Elrond can be an ideal blockchain for decentralized finance (DeFi) developers to benefit from its speed and scalability.

Elrond's native digital currency is EGLD. Liquid has covered everything you need to know about the Elrond network, its native digital currency, how it works, its benefits, and more. The network enables multiple validators to process transactions faster, enhancing network scalability and transaction throughput. Elrond has promised to help process hundreds of transactions per second as demand grows. DeFi developers can effectively use Elrond's enterprise solutions for their decentralized apps (dApps).

Blockchain can take the world of finance to the next level while positively impacting several other industries worldwide. However, whether or not blockchain can scale to meet the high demands in a short period is still a concern. Even Bitcoin, the world's largest cryptocurrency by market capitalization, is not immune to the scalability issue of its blockchain network. Many emerging projects in the crypto ecosystem nowadays are trying to solve this problem and improve blockchain scalability. Elrond aims to make the mainstream adoption of blockchain and cryptocurrency a reality.