Review on Elrond by gregori cordova

Name: Elrond
Item: Elrond
Rating: 5

March 03, 2021

A powerful project that came to revolutionize the way transactions are carried out

The massive adoption of a cryptocurrency project is the main goal and a dream come true for its creators. There are many of the projects that have this vision, but it is not an easy goal to achieve, and it is necessary to have certain characteristics that allow it to be achieved in a short time. Elrond, has been on that path for 3 years, when a group of experts in cryptography decided to create a new generation blockchain, with extremely powerful features and that in addition to that allows everyone to access it due to its ease of use. use . The main innovation of the elrond blockchain is the ability to process and execute transactions 1,000 times higher than current blockchains, with the ability to allow up to 15,000 transactions per second, and with extremely low fees ($ 0.001). Elrond uses a POS consensus algorithm, which generally does not require specialized mining equipment or GPUs like those required to mine bitcoin, and instead anyone interested could do so using their common desktops and becoming validators when staking. a certain amount of money, awaiting rewards for your collaboration with the network, while keeping it safe and up and running. Elrond aims to reach millions of users through its Maiar application, available for mobile phones, and in which, thanks to its simple and accessible interface, everyone can store, sell, exchange and spend their tokens in just a few steps. Initially the project launched its ERD token on the ethereum blockchain, but then they changed the binance blockchain, which as we all know is much more modern and more profitable for everyone, and changing the name of its token to EGLD than in just a few months. it has gone from $ 7 to be worth almost $ 140 and to position itself in the top 40 of coinmarketcap.
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Elrond is another case of success in the cryptographic market, being a public blockchain, with the mission of offering its users maximum security, efficiency, interoperability and very high scalability, so that everyone, even people who do not have much knowledge about cryptocurrencies, can enjoy the accessibility that this project provides
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Pros

One of its main advantages is its very high scalability, being able to handle more than 15000 transactions per second, which represents an improvement 1000 times greater than what we are used to seeing.
The commissions when doing transactions with elrond are as low as $ 0.0001, which is something that has certainly attracted many new users.
The ease of use through its Maiar application is one of its most notable innovations, since with it any type of user even the least experienced in cryptocurrencies can carry out any type of transaction is just a few steps
Today elrond occupies a privileged position in the coinmarketcaop ranking of the coins with the largest market capitalization, something that it has achieved in record time.
Users can become validators of the network by staking, thus receiving rewards for their contribution to the network.
The team of developers behind elrond are mostly crypto and blockchian experts, which is undoubtedly synonymous with the success the project has had on the market.

Cons