Elrond Network have a good potential for future
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Elrond have a good roadmap and very clear planning, so this project have a big potential to blockchain technology. Why this project very recommended? This projects very recommended to us with a some reason
The reason Elrond (ERD) have a big potential :
- High Scalability
- Cross-Chain Interoperability
- Adaptive State Sharding
- Secure Proof of Stake
- Elrond Protoype PoC - v0.5
- Elrond “Zero to One” Testnet
- Elrond Technical Roadmap
Okey i will description about 11 reason to this article, but i want to share for some part.
First reason why Elrond have a big potential is High Scalability. We introduce a novel Adaptive State Sharding mechanism, enabling linear scalability as more nodes join the network by parallelizing transaction processing. This is for features to bring 1000x overall improvement by being scalable, efficient and secure while maintaining a sufficiently decentralized setting. We can processing transactions easily.
The second reason is Efficiency, efficiency is about performance from network, Bitcoin, Ethereum and blockchains platforms used Proof of Work (PoW) it's very hard to calculate but very easy to verify. Verify from our network. But PoS or Proff of Stake is very efficient and better than to Proff of Work, so Elrond Network using Proff of Stake to running this platform.
Elrond’s approach to consensus is made by combining random validators selection, eligibility through stake and rating, with an optimal dimension for the consensus group.
Thr third reason is Robust Security. Robust security allows us to Enabling secure transactions and maintaining security in face of attacks. So we not worried about transactions, because transactions is very safety. We combine some aspects to ensure resistance to known security problems like Sybil attack, Rogue-key attack, Nothing at Stake attack and others. By following this aspect
a. Randomness source
The source of randomness is composed of the last block's aggregated signature and the round’s number
b. Shard reorganization
After each epoch, a third of the nodes from each shard are redistributed uniformly and non-deterministically across the other shards, to prevent collusion
c. Consensus group selection
After each round a new set of validators are selected using last committed block’s signature, current round and the eligible nodes list
d. Node rating
Beside stake, the node’s rating influences the chances to be selected as part of the consensus group
e. Shard redundancy
The nodes that were distributed in sibling shards on the tree’s lowest level keep track of each other’s blockchain data and application state
f. Threat model
Elrond assumes a byzantine adversarial model, where at least ⅔ +1 of the eligible nodes are honest (untampered code, synchronized). The protocol permits the existence of adversaries that have stake or good rating, delay or send conflicting messages.
g. Attack vectors prevention
Elrond protect from the attacks like Sybil attack, Rogue-key attack, Nothing at Stake attack and others.
Okey, other the reason will create at new article very soon, so stay tuned. Maybe on my medium. Bye bye and thank you for reading my article. See you :)