Legend Of Elrond (1)
Hello, blockchain tech geeks. It has been more than a decade since we learned that we could transfer value without the need for a bank. In 10 years, I will tell our friends that we have written articles about the ELROND network software testing phase. These days with the Elrond network, we’re writing a turning point in Blockchain history. Since the Bitcoin network, Satoshi’s blockchain network, many blockchain networks have been developed, such as Ethereum, NEO, EOS, Stellar. As we all know, scaling is one of the most critical problems of networks ever developed. I came to you today with a brand new network project that solves the scaling problem. Elrond Network developed SPOs as an alternative instead of PoW. It carries out smart contracts that run on many different networks through adapters over the same network. The features of the Elrond network are genuinely remarkable. I’ve been writing articles on this new network with exciting developments for some time. “Elrond Network!” our excitement has not decreased since the first day we started promoting the project. It is an extremely active and successful project with new developments recorded every new week.
We have a great team specializing in their respective fields. Microsoft, Google, Intel, and software from companies such as blockchain, CS, and Mathematics Olympiad champions, including many engineers and researchers in AI 13, the doctor continues to work with a great team at a very high pace. These clever men who have dedicated themselves to the development of Blockchain technology are writing a whole new network from scratch.
First of all, I would like to present to you the final version of the road map that is continuously updated by the team that works like a storm.
Here’s the Elrond network’s fabulous team:
Beniamin Mincu (CEO): was head of Product Marketing and community work in the NEM team. And NEM Blockchain is a billion-dollar product today.
Lucian Todea: (COO) Engineer LIEBL SYSTEMS, co-founder & CTO at ICO Market Data and Metachain Capital. He is a technology entrepreneur with more than 15 years of experience in technology-related businesses, and an angel investor.
Adrian Dobrita: Head of Engineering
Engineer Intel, ST-Ericsson, Continental, AI Olympiad champion, MSc CS.
He developed industry-class embedded software in areas such as mobile and automotive.
Lucian Mincu(CIO): Engineer LIEBL SYSTEMS, co-founder& CTO at ICO Market Data and Metachain Capital
Dan Voicu, Head of Communication: PR & Market Analysis ICO Market Data, Administrative Officer Metal Ship Building, BA Political Science, MSc Business.
Felix Crisan, Head of Research: CTO of Netopia, co-founder of BTKO, Romania’s first Bitcoin exchange platform.
Radu Chis, Head of Technology: Engineer NTT DATA, Olympiad champion, CS Teaching assistant Lucian Blaga Sibiu, Ph.D. CS
Sebastian Marian, Core Developer: Engineer Continental, Multiple world AI RoboCup Olympiad champion, RoboCup Executive & Technical Committee, CS Olympiad champion, BS CS.
Iulian Pascalau, Corcoveanu Cristian, and Andrei Marinica: Software Engineer:
Robert Sasu, Core Developer: Engineer Continental, Google summer code school, E-mobility startup, Math and CS Olympiad champion, 20 patents autonomous cars, BS CS, MSc Graphics VR.
Camil Ioan Banicioiu, Research Engineer: Freelance engineer, PhD student AI & ML
Radu Paun, Software Engineer: Engineer Keep calling, Mobile dev, MSc CS.
Valentin Lup, Senior System Administrator: SysAdmin Soft32, Networking, Assistant teacher CS, BS CS.
Beniamin Drasovean, Junior Software Engineer: Engineer, be CS.
Daniel Serb, Head of Marketing and PR: Communication Specialist Continental, Recruitment Consultant Frank Recruitment Group, BA International Relations.
Constantin Tovisi, User Experience Designer: Marketing, Product management & BD Soft32, BEc.
Larisa Oltean, UI / UX Designer: Freelance designer, MSc Design
As you can see, the team members ‘ career summaries show how high the chances of success of the project are.
The Elrond network project is not a fictitious project on paper. The team submitted a test version of their software as open-source to the observation of those interested in blockchain technology. Currently, everybody can contribute to Elrond GitHub. You can run some nodes of the Blockchain network and play with the wallet.
This week, Elrond Network took another step. The $ 50,000 prize-winning node started the war. Excitement climaxes at Elrond network:
Here’s the war announcement:
Announcing the Battle of Nodes — an epic Testnet-as-a-Battleground event
In order to make Elrond a sustainable layer that will stand tall in the face of any challenge, we are building antifragility into its core. Right from the testnet phase we invite everyone to discover what it means to run a node, earn rewards, and put the network through a trial by fire so it will emerge stronger.
The Battle of Nodes will feature an adversarial environment where test node operators will be rewarded for securing the network and even more so for trying to attack it.
Some will attack. Some will secure. You might do both. How will you win?
$50,000 reward pool
Start here: https://battleofnodes.com
In your review, you’ll find that Elrond is the most viable of the dozens of networks ever developed from the Bitcoin network, the father of networks manufactured by blockchain technology. Besides its scalability, security PoS is designed for safe and serious energy gain.
Features Of The Elrond Network:
ELROND is a new blockchain architecture designed to improve scalability with adaptive state fragmentation and secure proof (SPoS). It is possible to sort the attributes of the designed Elrond network as safe, efficient, scalable, and interoperable. I would like to briefly discuss each of these features that define the Elrond network.
Harding Adaptive State:(Adaptive Split Partition:
One of Elrond’s main contributions to blockchain architecture is its technology. The state fragmentation approach previously attempted at Zilliqa is to divide the data flow into smaller groups of fractures, each capable of operating in parallel. When considered horizontal partitioning, Sharding splits the data into pieces placed on it. Breaking the Blockchain network into fractures would allow more action to be taken at the same time. As the network used grows, processing speed increases, often solving the scaling problem. Here, parallel parts that perform different operations begin to execute activities from nodes at the same time, depending on the speed. Thus not all nodes are used to validate all services. A memorandum protocol called BFT is applied to reach an agreement on the order of the transactions. The entire network eventually becomes a single entity. This information is broadcast to nodes in the network, which is a sort of Partition and manage the operation. As I mentioned earlier, Sharding, which has also been tried in Zilliqa, is used as evidence of PoW operation. However, in the Elrond network, the solution is not just transaction sharing but adaptive state sharing. (Adaptive state fragmentation) SPoS are used as proof of operation.
Security POS development (SPoS):
Secure proof-of-purchase consensus mechanism: the Elrond network uses an advanced proof-of-purchase (PoS) variation that provides long-term security and distributed fairness while eliminating the need for energy-intensive PoW algorithms.
(Safe proof of stock (SPoS) consensus mechanics)
We’re all familiar with the concept of PoS. The system the Ethereum network plans to pass on in the coming period shows the possibility of verifying a node’s block, and you can verify it as much as the token in your wallet. That way, you’ll be rewarded at the token rate in your wallet. The critical point here is that Pow’s energy consumption is reduced. It also eliminates the risk of powerful miners manipulating the network. In general, the project performs community validation with the token. Secure PoS, on the other hand, was first introduced by Algorand based on the idea of assigning random verifiers. Elrond uses the randomization factor as the bulk signature of the final block in the confirmatory selection mechanism for each node in the fragment. Random shredding eliminates the possibility of attacking a particular block. There is a focus on security in the SPOs consensus mechanism. The software has been made resistant to known threats, including the sybil attack.
All this is historical evidence. The history of Blockchain networks has taken a new turn with the Elrond project. In the future, when we tell our friends about the Elrond network, we will let them know how we write these articles.
Epilogue:
Elrond Network is not one of the projects to fit the wire article. Therefore, I will present the information about the Elrond Virtual Machine and ERD, which will solve the problem of integration between different blockchain networks and usher in a new era of smart contracts. Until next summer, I’ll add the fabulous white paper and other links below, where you can find out about the Elrond Network for enthusiasts. I wish you all plenty of money.
By: N.ipek Celik
Elrond Community ID: ipek
