Topic: 🔥🔥🔥 [ANN] Elrond - Sharded layer one protocol with near instant TX speed - page 11. (Read 5671 times)

Matic Network and Elrond Engage in Joint Blockchain Infrastructure Research


“Both Matic and Elrond share the same core vision of facilitating the widespread mainstream adoption of blockchain. As two of the most promising performance-focused platforms on the market, together we can provide the superior blockchain infrastructure required for the acceleration of the decentralized movement. Matic is honored to be working shoulder-to-shoulder with Elrond to make the decentralized future a reality sooner.“
–Jaynti Kanani – Matic Network CEO

FOR MORE INFORMATION, VISIT HERE:  

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ElrondNetwork’s short summary progress made this week - Read the thread HERE for the weekly tech update


1. Released feature-rich testnet v1.0.12 with a redesigned ui and validator monitoring. Verifying your nodes is easier, all the data rendered into a simple UI.
2. Reworking the scripts for starting a node, one-click deployment, bringing all the tools, building and running them. There is no more need to start a CLI.
3. Improved gas limit and consumption calculation for miniblocks. Creating batches of miniblocks with predefined gas limit, in order to be sure that it is executable in a given time in the destination shard.
4. Heartbeat gets new data to be shared, this tool helps to send and receive messages about your connected peers and their statistics.
5. New validator page, now you can see who is on and synchronized from the validators on the testnet. This is the frontend for heartbeat. Keep your validator in the green.
6. Started integrating the new VM to run WASM. Multiple languages can be compiled into it, ran with JIT/AOT compilers, a number of great developer tools are already available and it is super fast.
7. We propose to support multiple engines in the back: WABT, Bynarien, WAVM, Google V8. As always, it is not enough for us to copy existing technologies, we want to improve them.
8. Launched http://cryptobubbles.io. First dApp in a truly sharded architecture. Written in IELE, running on a formally verified VM, k framework with go backend.

9. IELE VM got another set of improvements, when it comes to memory handling and rule matching. It is getting faster every day.
10. One more step for K Finality in shards. As a group of bad actors can drive some part of the shard into an invalid fork, that group will be desynchronized from the netwrok. The solution is to revert back to the final shardblock notarized by metachain.
11. Activated nonce check for each type of transaction
12. In our stress tests we found and interesting bug: the consensus and processing was so fast that 2 consecutive blocks were created in the same round.
     Metachain subsequently stopped notarizing the shardblocks becuase of invalidity.
     Added more security checks on any block.
13. Detailed documentation and specification of the Elrond node. It started as an internal description of the components, but it will become our open cookbook.
14. Elrond HQ validators meeting was a great success, many enthusiasts to become validators in the Elrond protocol. Discussed the further steps in terms of automatizing the administration of the node.

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What advantages are here before IOTA? IOTA is using DAG instead of blcokchain as I know, which is more faster than blcokchain nowdays? If you want use Elrond for IoT devices, than you should compare with copetitors like IOTA I think... ?

CryptoBubbles, a Multiplayer Online blockchain-based action Game, created in the Elrond Network labs


Gaming will quite likely be one of the first major industries to be taken over by the blockchain technology. Tokenization presents a great opportunity to help the gaming market evolve in new and interesting way. By adding tokens, self-custody, transferability, and interoperability the gaming experience can be taken to the next level, making games even more electrifying and rewarding(literally).
So, we’re very excited to present CryptoBubbles, a Multiplayer Online blockchain-based action Game, created in the Elrond Network labs and inspired by the already famous Agar.io game

Easy rules
   Move your mouse cursor on the screen to maneuver your bubble.
   Eat food cells (these are smaller static bubbles) and other players bubbles, in order to increase the mass of your bubble.
   Rewards: Top 10 players are rewarded, and will able to join the next round without having to be in the waiting list!
   Round duration: 4 minutes.
   Round fee: 500 ERD(decreases if a player joins later in the round).
   Pause between rounds: 15 seconds.
   Initial account balance: 10 000 ERD.
   When your balance goes bellow 1000 ERD, you can use the Faucet feature to request free coins. This option is available once per day.

Winner rewards
The goal of this game is to have fun, but if you’re among the winners there are some rewards as well. These rewards will be split as follows:
   - the first ranked player takes 55% ERD pot;
   - second ranked player takes 20% of the ERD pot;
   - the third ranked player takes 10% of the ERD pot;
   - 4th rank takes 6%;
   - 5th rank takes 4%;
   - 6th rank takes 1%;
   - 7th rank takes 1%;
   - 8th rank takes 1%;
   - 9th rank takes 1%;
   - 10th rank takes 1%,
   - the rest lose their fee.

READ MORE >>>>> HERE

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Elrond Brings its High Throughput and Fully Sharded Blockchain Infrastructure to the Trusted IoT Alliance




Beniamin Mincu, Elrond Founder and CEO commented: “Our immersion with the Trusted IoT Alliance is a significant step forward for realizing the practical and real-world applications of what Elrond Network can achieve. Alongside the likes of TIoTA’s enterprise, IoT and blockchain members, Elrond’s public, sharded blockchain can provide the infrastructure that is necessary for the digital economy to blossom.”

“Elrond provides a scalable value transfer protocol for the digital economy,” said Anoop Nannra, Chairman of the Trusted IoT Alliance and Head of Blockchain at Cisco. “We are thrilled to have Elrond join our organization and contribute to our collective goals to establish best practices for the market and to commercialize trusted initiatives.”

READ MORE >>>>> HERE

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Elrond Network has announced that it has entered the Trusted IoT Alliance (TIoTA)


Elrond Network, the scalable public blockchain that deploys sharding technology has announced that it has entered the Trusted IoT Alliance (TIoTA), joining a retinue of high-profile enterprises and developer organizations to create a collaborative consortium ecosystem at the forefront of IoT innovation

August 14, 2019 / The McKinsey Global Institute projects that nearly 30 billion devices will be connected to the Internet by 2020, encompassing an overall IoT economic impact value between $4 trillion and $11 trillion by 2025. TIoTA’s 2025 goals include building a secure, interoperable, and scalable IoT ecosystem based on blockchain technology that is capable of facilitating M2M payments, autonomous supply chain management, and many more applications across multiple industries.
Elrond Network is ideally suited for the push into the next generation of the Internet, where scalable, public infrastructure will be necessary to support the frictionless transfer of value. Elrond is one of the blockchain projects spearheading the experimentation of scalable, interoperable infrastructure for the underlying technology.
The platform relies on a horizontal database partitioning technique called sharding, and, when blended with the network’s Secure Proof-of-Stake consensus (SPoS), provides a decentralized and highly performant blockchain. As a result, Elrond presents an optimal backbone for the ongoing work of TIoTA, and the network will be of use to the TIoTA’s enterprise members for hackathons and challenges meant to solve real-world problems.
The TIoTA Consortium is comprised of numerous projects at the bleeding-edge convergence of IoT application development and blockchain technology. Alongside major corporate partners such as Bosch, Cisco, Telekom, Siemens and others, Elrond is positioned favorably to support the growth of TIoTA’s leading open-source software foundation.

READ FULL >>>>> HERE

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Congratulations everyone!

We have got 1st dApp on fully sharded blockchain architecture! CryptoBubbles is a geme lounched on Elrond testnet! Try it out!

https://twitter.com/ElrondNetwork/status/1162029557668556801

Crypto.com Lists Binance Launchpad Token: Best place to purchase ERD at true cost with zero fees and markups
https://blog.crypto.com/crypto-com-lists-elronds-erd/


  -  Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has listed Binance Launchpad token, Elrond’s ERD to its App. ERD joins a growing list of cryptocurrencies and stablecoins on the Crypto.com platform, such as bitcoin (BTC), ether (ETH), Litecoin (LTC), XRP, TrueUSD (TUSD), PAXOS (PAX), and its own MCO and CRO Tokens.

Elrond is a highly scalable public blockchain focused on providing security, efficiency, scalability, and interoperability. It has been built with adaptive state sharding and is based on the Secure-Proof-of-Stake consensus mechanism.

With ERD added to the Crypto.com, users can now purchase it at true cost with no fees - credit card and bank transfer both supported. As Crypto.com also offers the MCO Visa Card, this adds additional utility to ERD as users can easily convert cryptocurrencies into fiat currencies and spend at over 40m merchants globally.

Kris Marszalek, Co-Founder and CEO of Crypto.com said: “We are pleased to make Crypto.com a platform for the Elrond community to purchase ERD at true cost. Given the growing selection of digital assets, fiat onramp and lack of fees, Crypto.com is simply the best place to buy, sell and pay with crypto.”

Beniamin Mincu, Founder and CEO of Elrond said: “With Elrond we’ve built perhaps the most scalable and efficient blockchain architecture to date, one that can truly enable real world adoption. We are happy to list Elrond on Crypto.com and bring real utility for the whole Elrond community. Starting today you can shop using ERD directly!”

About Crypto.com

Crypto.com was founded in 2016 to accelerate the world’s transition to cryptocurrency. Key products include: the Crypto.com App, the best place to buy, sell, and pay with crypto, the MCO Visa Card, a metal card with no annual fees, and the Crypto.com Chain, which enables users to pay and be paid in any crypto, anywhere, for free. Crypto.com is headquartered in Hong Kong with a 150+ strong team. For more information, please visit: www.crypto.com.

Note: Elrond’s ERD is not available for Crypto.com App users in the U.S.

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You can use https://www.binance.org/en/trade/ERD-D06_BNB

Binance is also deploying exchange for US, there are 30 coins / tokens available, but I think the future will be more.

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NEW Exclusive Interview in Forbes with Beniamin Mincu, CEO of Elrond:
  How This Company Is Pushing The Limits Of Blockchain Technology To Achieve Scalability


Momentum is gaining among blockchain proponents that the next generation of applications, free from the centralized data monopoly of big tech, is just over the horizon. At the core of the race towards more scalable, decentralized applications (dApps) is the hope that recent advances in the underlying technology, ranging from sharding to proof-of-stake, can provide the type of infrastructure that these dApps need to become widely adopted.

 One of the platforms pushing the envelope in the underlying technology is Elrond, a high-value transfer network that relies on secure proof-of-stake consensus and a bleeding-edge integration of sharding with a public blockchain.

Sharding is an ambitious take on scaling public blockchains at the convergence of decades-old technology for horizontal database partitioning and decentralized networks. Elrond has made some significant headway producing a working sharding implementation, and already has a testnet live with an early version of their platform.

I had a chance to speak with Beniamin Mincu, CEO of Elrond, on the progress and future direction of the technology, along with its potential industry-wide implications.

Joresa Blount: Can you give a high-level overview of the technology (i.e., sharding & proof-of-stake) that underpins your network?

Beniamin Mincu:  Elrond is a new blockchain architecture, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel adaptive state sharding mechanism and a secure proof-of-stake (sPoS) algorithm.

The key insight with sharding is that you can partition the network into smaller networks to enable parallel transaction processing. Once you can do that, a new performance paradigm opens up. There are 3 levels of sharding, each posing a more difficult challenge that needs to be solved: transaction sharding (level 1), network sharding (level 2), and state sharding (level 3). After more than one and a half years of work, Elrond has validated the technical model proposed in its technical paper, and has come with a practical solution to the most difficult of the problems that can radically increase performance.

The adaptivity of our sharding model means that unlike other networks, in Elrond, as more nodes join, the network can expand and contract in real-time. In other words, as more nodes join the network to reap validator rewards, new shards are formed based on a clever binary tree model, and scalability increases even further.

The second key innovation in Elrond is its secure proof-of-stake algorithm. Elrond has attempted to depart from the energy-intensive and unsustainable proof-of-work and come up with a solution compatible with a globally scalable architecture. Thus, we employ proof-of-stake to significantly improve energy efficiency and prevent Sybil attacks, random sampling of the consensus group to make it very secure, unpredictable and use of a PBFT consensus variation for breakneck execution speed.

The implication of these improvements is hard to overstate, and businesses are starting to pay attention because, for them, they make all the difference.

READ MORE >>>>>> HERE

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I suggest you keep your  tokens in hardware wallet, it's the safest way.

docs.elrond.com

https://imgur.com/TM16qq0

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Binance CEX, TrustWallet, Ledger, ...

Zil is not the only one project which has sharding. For example Pchainans some other projects have sharding too. They should compare all projects.

So we can only store in binance?

For the moment, ERD is a BEP-2 token and is considered a security in US. Once the mainnet will be launched in Q4, things will change.

Thanks, Where is download link?

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Please list in other exchangers, binance in the future wants remove us customers in .com

Why we do not see real adoption of blockchain technology in businesses? It is relatively new technology and there still are a lot of unsolved issues. Big enterprises like Apple, IBM, Microsoft, Google are researching this technology and trying to implement it. But there was no public blockchain yet which would bring necessary speed, scalability, security without sacrificing decentralisation.

But with Elrond's Adaptive State Sharding and SPoS it becomes possible! Elrond is working day and night to launch their mainnet in Q4 and then potential enterprise users will have opportunity to try it and see that this blockchain brings long awaited efficiency!

Elrond: High-throughput public blockchain with Adaptive State Sharding - (by Paradigm fund)

+ HERE: Full review on Elrond Network

Summary
To sum up, Elrond looks like a very promising project. It has a working (in a testing environment) solution for scalability problems, and that could really disrupt the market if the same result will be seen on the mainnet. Unlike most of its competitors Elrond supports a lot of programming languages, the smart contract languages are formally defined in K Framework, it is possible to perform formal verification of smart contracts written in these languages.
Elrond is a kind of “all-rounder” type of project, it can be considered Layer 1, Layer 2, and Interoperability project. It is both a strength and weakness: Elrond has a lot of potential use-cases and can choose it’s focus further down the line, but at the same time there is a risk of becoming “Jack of all trades, master of none”.
Elrond has a lot of competitors and they have been in the game for a longer time, so Elrond will have to act quickly and try to launch a marketing campaign that will be able to attract anchor clients and core users. Right now it is hard to compete with Elrond tech-wise, but their next challenge and opportunity will focus on how they will attract users and developers.

Competitors: https://docs.elrond.com/detalied-comparative-analysis/elrond-vs.-ethereum-serenity
Elrond marks Ethereum (2.0), Zilliqa, Dfinity, Algorand, Harmony, Quarkchain and Multivac as their competitors and they have written a detailed comparison to each of the aforementioned companies.
If I were to outline the main differences between those companies and Elrond they would be as follows:
    1- Consensus mechanism — SPoS, this novel consensus is much more efficient than PoS or HPoW;
    2- Sharding — not all of the competitors even use sharding, but those who use lack wholesome approach, Elrond’s adaptive state sharding is the state of the art;
    3- Cross-shard operations — there is a larger overhead in communication compared to the Elrond architecture;
    4- The finality of the cross-shard transactions is much shorter in Elrond.

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Look here, you will know

What time desktop wallet is ready?

Here is a detailed explanation of differences between Zilliqa and Elrond:

Elrond does horizontal scaling with State Sharding, while Zilliqa only does network and transaction sharding.

Zilliqa tries to solve scalability by addressing half of the problem, and that is by doing network and transaction sharding - so it improves somewhat the scalability and the network can process about 2500 TPS (2828 TPS with 3600 nodes). The network sharding is not optimal however as all the shards still need to synchronize the entire state of the system leading to communication overhead. It does not solve the hardest part of the problem which is state sharding.

Having no State Sharding basically means for Zilliqa that every node in the network has to store the entire state of the blockchain. In very high throughput blockchains the storage requirements grow very fast. A validator needs some special hardware to keep up with this kind of demand. Elrond solves the storage problems, by also sharding state, so that every node in the network has to store just a part of the entire state, the one corresponding for its shard.

Zilliqa still uses PoW in order to prevent Sybil attacks, while Elrond uses PoS, a much more energy-efficient way to prevent Sybil attacks. Ziliqa PoW validator is required to have special hardware to run a node and it only runs in Ubuntu OS. Elrond validator has low system requirements and runs on Windows, Linux and Mac as well.

Zilliqa stores all the Smart Contracts in a single shard, while Elrond will distribute Smart Contracts among all shards in order to be able to parallelize Smart Contract execution.

More comparisons can be found here:
https://docs.elrond.com/detalied-comparative-analysis/elrond-vs.-zilliqa



Yes, you can check the testnet running live and exceeding 10k TPS with only 5 shards: testnet.elrond.com





Mod note: merged multiple posts in a row into one

Want to know why we need new sharding blockchain when there already is Zilliqa? watch this:

https://www.captiongenerator.com/1472352/At-Zllqa-core-devs-meeting-

One week of their hard work, I believe they will succeed if they are still on the right track. Hard work will bring sweet fruits of most powerful blockchain!

Is the sharding tech already implemented?

THIS WEEK IN ELROND: https://twitter.com/iulian_pascalau/status/1159854177931137024?s=20


1/ 1/ VM factory. Elrond does not limit itself to only one VM, we can have as many as we want. More VMs, more languages, more tools, easier to develop the new best dApps.
2/ Technical analysis for the next VM/language which will be integrated besides IELE. More info next week, when the integration is finished.
3/ Nodes Coordinator implementation in preparation for rewards and rating management.
4/ IELE VM is further optimized, by implementing left hand side tree verification on the generated K rules. When finished, this will bring important processing optimizations.
5/ Wrapped the node's REST API with pprof routes to allow us to remotely monitor the resources used and find possible memory or goroutine leaks.
6/ Bugfix / feature add gaslimit per miniblocks.
7/ A termui-based console implementation for a better interaction with the node.
8/ Improved components documentation and requirements.
9/ Integration tests improvements.

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