$387.43 -0.72%
ETH · 1w

Elrond Mainnet Launches Today After Testnet Hits 260,000Transactions per Second, how does it compare to Ethereum?

High performance blockchain project Elrond is launching its mainnet today, July 30, along with a new DeFi app, staking and a raft of new features. Its ERD token has been on fire this month in the lead-up to the long awaited launch.

The launch follows successful testnet results with more than 1,500 nodes in 29 countries, and 50 shards, running at extremely high speeds with a peak of more than 260,000 transactions per second. Elrond aims to achieve global scalability for money moving markets. 

New tokenomics and DeFi app

The launch alters the token economic model by drastically reducing the token supply from 20 billion to 20 million. Over the next 10 years, the issuance rate will gradually decrease from around 10% in the first year, until no more tokens are issued.

An estimated 40,000 users have already signed up for the waiting list for the new mobile and web app called “Maiar” that will be integrated into DeFi protocols with a wallet, staking and lending features.

Users can sign up with just a mobile phone number and it offers progressive security features such as nominating “guardians” to manage multi-signature wallets.

What is Elrond anyway?

Elrond is a high-bandwidth, high security, and low latency blockchain network which is touted as an alternative to the existing global economic infrastructure. It claims to be the first project to employ adaptive state sharding and secure proof-of-stake (SPoS) technologies to achieve both speed and security.

It is built upon regular sharding technology, or horizontal scaling, to encompass three types of sharding — network/communication, transaction/processing, and state/storage — in what it calls “adaptive state” to achieve extremely high throughput.

ERD price reaction

Elrond’s native token, ERD, has skyrocketed this month as the mainnet launch nears. Since the beginning of July, ERD has surged a whopping 350% to hit an all-time high on Monday of $0.029. ERD currently h...

Continue on
Recent news
ETH -0.72% · · 14h

Balancer Token Skyrockets Amid Podcaster Token Listing

Evan Van Ness, the host of the “Week in Ethereum” Podcast and former Director of ConseSys, has tokenized himself on the Balancer (BAL) platform in the form of EVAN tokens, which has already skyrockete...
ETH -0.72% · · 19h

EDCON 2020 Lineup and Schedule

When and where to watch all the talks from top DeFi project founders and builders from Aave, Uniswap, Compound, Synthetix, Curve, and more on the first day of EDCON EDCON 2020 Online Edition will…