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 (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
Elrond is built by a team of experienced entrepreneurs along with 13 engineers and researchers with significant technical experience at Microsoft, Google, Intel, NTT DATA, 2 PhDs in CS & AI, multiple math, CS and AI olympiad champions, and blockchain backgrounds, including being previously part of the NEM core team.
The Elrond Network Token Sale Details:
Launchpad Ticket Claim Time: 2019/07/01 06:00 AM (UTC) to 2019/07/02 06:00 AM (UTC).
Token Name: Elrond (ERD)
Hard Cap: 3,250,000 USD
Total Token Supply: 20,000,000,000 ERD
Total Tokens Allocated to Binance Launchpad: 5,000,000,000 ERD (25% of Total Token Supply)
Public Sale Token Price: 1 ERD = 0.00065 USD (price in BNB will be determined prior to the lottery draw date)
Token Sale Format: Lottery
Max Number of Winning Lottery Tickets: 10,833
Allocation Per Winning Ticket: 300 USD (461,538.46 ERD)
Supported Sessions: BNB only
Elrond (ERD) will be issued on Binance Chain as a BEP2 asset.
Elrond (ERD), whose Initial Exchange Offering (ieo) sale was completed on July 2 and is listed today on the giant cryptocurrency exchange Binance, gave its investor a return of up to 3000 per cent on its first trading day.
ERD had been sold for $ 0.00001984 BnB, corresponding to $ 0.00065 to investors in the IEO process. So it was equivalent to about 6 Satoshi on a Bitcoin (BTC) basis based on the prices of that day. On the first day the cryptocurrency was listed on the stock market, it went up to 191 Satoshi, giving some of its investors up to 3083% profit.
Binance Launchpad had received 97,817 ticket (ticker) requests for the sale of Elrond (ERD), giving it a chance to invest only 11 per cent of the claims, i.e. 10,833.
At least 50 BnB (about $ 1,700) was needed to get a chance to participate in token sales at Binance. IEO sales are made on a raffle basis. In the stock market account, 50 BnB holding 1 winning the right to draw, 500 BnB holding 5 winning the right to draw.
LINKS
Website : https://community.elrond.com
Twitter: https://twitter.com/elrondnetwork
Official Website: www.elrond.com
Github: https://github.com/ElrondNetwork
Telegram : https://t.me/ElrondNetwork
Linkedin: https://www.linkedin.com/company/elrondnetwork/
Article by hashin