Elrond Network is a revolutionary blockchain platform attempting to become the backbone of a permissionless, borderless, globally accessible internet economy. It is a new blockchain architecture, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. Elrond can process upwards of 10,000 transactions per second, with 5-second latency, and negligible cost.
Effectively partitioning the chain state into multiple shards, handled in parallel by different participating validators.
An improved variation of Proof of Stake that ensures long term security and distributed fairness, while eliminating the need for energy-intensive PoW algorithms.