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Elrond

a highly scalable, fast and secure blockchain platform for distributed apps, enterprise use cases and the new internet economy

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mission & key concepts

Elrond represents a highly scalable, fast and secure blockchain platform for distributed apps, enterprise use cases and the new internet economy.

Elrond's mission is to:

  • create a global, transparent, near-instant, non-inflationary financial system
  • give anyone, anywhere, easy access to it.

Current Challenges

For 3 years we've been building a powerful solution to address the first part of the mission. The solution is a high bandwidth, low latency, high security, low-cost blockchain network, that can accommodate transactions and value exchange at the internet scale.

Top priorities:

1/ Provide adaptive state sharding

The optimal approach to blockchain sharding needs to take into consideration advantages from all three sharding types: State, Transactions & Network. Elrond’s approach to increased throughput, called “Adaptive State Sharding”, combines all three sharding types into a solution that improves communication inside the shards and dramatically increases performance through parallel processing.

2/ Run secure proof of stake smoothly

Elrond has proposed a novel approach to consensus called “Secure Proof of Stake” which eliminates PoW computational waste, and combines eligibility through stake and rating with random validator selection, and an optimal dimension for the consensus group. The BFT-like consensus protocol maintains a high security level through random sampling of the consensus group, and random reshuffling of nodes into other shards. The consensus uses an unbiasable randomness source generated by the block proposer via signing the previous random source.

3/ Develop and empower Elrond VM

The Elrond Virtual Machine is a dedicated smart contract execution engine built on WASM. It expands the family of languages available to smart contract developers to include Rust, C/C++, C#, Typescript. This means you can write smart contracts in whichever language you’re familiar with, compile it of WASM and easily debug its WAT human readable format.

4/ Fill the EGLD Token with a real value

The EGLD token is a unit of value that is native to the Elrond network. It represents a medium of exchange between users & developers who pay to use the network and validators who take the fees as payment for the services they provide.

5/ Grow the community, increase the awareness among users, clients and partners

Culture

We think every successful initiative is the result of a tremendous team effort from a passionate, focused, and forward-thinking group of individuals.

If you care deeply about what we're building and think you are a great fit, we'd love to hear from you. Elrond is always looking for people with relentless drive, high energy and exceptional ability.

History & Achievments

Founded: 2018

Headquarters: European Union, Romania

Funding:

  • Elrond has raised a total of $1.9M in funding over 2 rounds. Their latest funding was raised on Mar 31, 2022 from a Secondary Market round.
  • Elrond is funded by 9 investors. Skynet EGLD Capital and Binance Labs are the most recent investors.

Invetments:

  • Elrond has made 5 investments. Their most recent investment was on Oct 5, 2022, when Improbable raised £88M.
  • Elrond has acquired 2 organizations. Their most recent acquisition was Utrust on Jan 11, 2022.

The Elrond blockchain can process above 15.000 transactions per second, with 6-second latency, and $0.001 transaction cost. This will radically transform the way we exchange value, just as broadband internet transformed the way we communicate.


Adding value to that, we have announced more than 60 collaborations and partnerships to aggressively expand the Elrond ecosystem, adding significant utility, increasing outreach, and enabling applications to leverage the Elrond technology.

Technical Roadmap

Elrond network is on track to deliver the most scalable, fast and secure blockchain platform for real world applications, bringing a 1000x improvement compared to blockchains such Bitcoin or Ethereum.

  • Q2 2018

Elrond technical paper

  • Q3 2018

Prototype Launch

  • Q4 2018

Code open source

Whitepaper update

  • Q1 2019

Elrond testnet v0.5

initial results

  • Q2 2019

Private testnet launch

Consensus & cryptography

optimizations

Elrond explorer & wallet

  • Q3 2019

Public testnet launch

IELE VM integration

CryptoBubbles dApp launch

  • Q4 2019

Battle of Nodes testnet event

New Website & Vision

Elrond Bootstrapping Phase 1:

Secure PoS Economy launch

50% Circulating supply staking target

Prestaking in multiple waves

  • Q1 2020

Economic & Governance Model

App in Samsung dApp store

  • Q2 2020

Elrond Bootstrapping Phase 2:

Genesis block

Select validator program

Native Elrond Wallet

  • Q3 2020

Elrond Bootstrapping Phase 3:

Progressive feature activation

DeFi initiatives

Economics v2

  • Q4 2020

Smart Contracts

Staking: direct & delegation

Development Toolkit

  • Q1 2021

Maiar launch

Maiar: staking

  • Q2 2021

ESDT token

dApp core components

Maiar Login

Staking Phase 3.5

  • Q3 2021

Maiar Exchange: DEX AMM

Maiar DeFi Wallet

  • Q4 2021

Maiar App new features

Maiar Launchpad

  • Q1 2022

Web3 Payments

Maiar DeFi Wallet

Metastaking

  • Q2 2022

Metabonding

Elrond SuperWave

Ad Astra Bridge

Jungle DEX

  • Q3 2022

Elrond Growth 2.0

Elrond Gamify

Staking Phase 4

NFT Marketplace

Multisig for DAO

  • Q4 2022

Maiar App 2.0

DeFi 2.0: Lending & Synthetics

Merchant Yield

Elrond Conference

  • Q1 2023

Strategic Multi-country hypergrowth

Onchain governance

Core Team

  • Beniamin Mincu - Co-founder and CEO
  • Lucian Mincu - Co-founder and CIO
  • Lucian Todea - Co-Founder and COO

Benefits

  • Flexible working hours
  • Start-up atmosphere where everybody is agile without being AGILE
  • The opportunity to create something really meaningful that will be used by millions of people
  • Competitive salary
  • Fast, dynamic & unique working environment