Elrond Network

Elrond Network

Created using Figma
Created using Figma
The user-friendly blockchain for deploying programmable money and unstoppable applications
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Mar 25, 2019
Apr 10, 2019
100% completed
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About Elrond Network

Elrond contribution proposal: 

Adaptive State Sharding - Elrond proposes a dynamically adaptive sharding mechanism that ena-bles shard computation and reorganizing based on necessity and the number of active network nodes. The reassignment of nodes in the shards at the beginning of each epoch is progressive and nondeter-ministic, inducing no temporary liveness penalties. Adaptive state sharding comes with additional chal-lenges compared to the static model. One of the key-points resides in how shard-splitting and shard-merging is done to prevent overall latency penalties.

Elrond solves this challenge by: 

  1. Dividing the wallet address space in shards, using a binary tree which can be built with the sole requirement of knowing the exact number of shards in a certain epoch.
  2. Introducing a technique of balancing the nodes in each shard, to achieve overall architecture equilibrium. This technique ensures a balanced workload and reward for each node in the network.
  3. Designing a built-in mechanism for automatic transaction routing in the corresponding shards, considerably reduces latency as a result.
  4. In order to achieve considerable improvements with respect to bootstrapping and storage, Elrond makes use of a shard pruning mechanism. This ensures sustainability of our architecture even with a throughput of tens of thousands of transactions per second (TPS).

Secure Proof of Stake  - As an improved variation of Proof of Stake (PoS) that ensures long term security and distributed fairness, while eliminating the need for energy intensive PoW algorithms. Elrond introduces an improvement which reduces the latency allowing each node in the shard to deter-mine the members of the consensus group (block proposer and validators) at the beginning of a round. This is possible because the last block's aggregated signature is used as the randomization factor. In addition to the stake factor generally used in PoS architectures as a sole decision input, Elrond refines its consensus mechanism by adding an additional weight factor called rating. 

Main problems tackled: 

  1. Full descentralization - Eliminating the need for any trusted third party, hence removing any single point of failure
  2. Robust security - Allowing secure transactions and preventing any attacks based on known attack vectors;
  3. High scalability  - Enabling the network to achieve a performance at least equal to the centralized counterpart, as measured in TPS;  Initial tests show 5000tps at 4MB/s average bandwidth with 16 shards. Linearly, Elrond has reached 10000tps at 8BM/s with 16shards and 50000 tps at 8MB/s average bandwidth 64shards.
  4. Efficiency - Performing all network services with minimal energy and computational requirements;
  5. Bootstrapping and storage enhancement - Ensuring a competitive cost for data storage and boot-strapping;
  6. Cross-chain interoperability - Enforced by design, permitting unlimited communication between external services.

Elrond innovation:

  1. Security through multi signing - This scaling technique can be used in blockchains to partition states and transaction processing, so that each node would process only a fraction of all transactions in parallel with other nodes. As long as there is a sufficient number of nodes verifying each transaction so that the system maintains high reliability and security, then splitting a blockchain into shards will allow it to process many transactions in parallel, and thus greatly improving transaction throughput and efficiency. Sharding promises to increase the throughput as the mining network expands, a property that is referred to as horizontal scaling
  2. Randomness source - Each node from the list E can be selected as part of j an optimally dimensioned consensus group, by a deterministic function, based on last block’s aggregated signature, the round r and a set of variation parameters. The random number, known to all shard nodes through gos-sip, cannot be predicted before the block is actually signed by the previous consensus group. This property makes it a good source of randomness and prevents highly adaptive malicious attacks. We define a selection function to return the set of chosen nodes
  3. Performance - Sharding approach shows a linearly increasing throughput.
  4. Shard storage pruning - To reduce storage requirements and bootstrapping time. 

Elrond Network Roadmap

  • Q3 2017

  • Technical work begins
  • Q2 2018

  • Preminary Technical Proof of Concept FInalized
  • Q2 2018

  • Elrond Prototype
  • Q1 2019 - (Inception)

  • Stage 1
    -Private Testnet launch with sPoS and -Sharding
    -Elrond Games
    -Maiar Launch
    -VM Integration
    -Business Integration
    -API + SDK
    Stage 2 (Fundamentals)
    -Public Testnet launch
    -Funding round
    -Stress testing – capture the bug
    -Security audit
    -Hackathon + use-cases discovery
    -Palintir – Elrond privacy
    -Elrond dapp store
    -Elrond Wallet – UX + Alias + Multisig + -Timelock
  • Read More
  • Q2 2019 - (Launch)

  • Elrond Mainnet
    MainNet Launch
    Token swap and staking
    Functional payment gateway
    Mobile wallets
    Hardware wallet integration
    Secure P2P messaging
  • Q3 - Q4 2019 (Expansion)

  • -MainNet Consolidation
    -Real world integration
    -Ecosystem fund
    -Digital card integration
    -Elrond DEX in wallet client
    -Elrond Stable coin economy
    -Digital identity


15 022
164 918
1 773
Fake Users Detected:
30 Days Growth:
35 415
30 Days Growth:
Year commits:
10 581
Open issues:

Elrond Network Team

Verified 6%

Attention. There is a risk that unverified members are not actually members of the team

Beniamin Mincu
Lucian Todea
Lucian Mincu
Felix Crisan
Head of Research
Radu Chis
Head of Technology
Sebastian Marian
Core Developer
Adrian Dobrita
Head of Engineering
Mihai Dorian Stancu
Software Engineer
Iulian Pascalau
Core Developer
Corcoveanu Cristian
Software Engineer
Dan Voicu
Head of Communication
Larisa Oltean
Daniel Serb
Head of Marketing and PR
Beniamin Drasoveanu
Jr. Software Engineer
Endre Simo
Software Engineer
Andrei Marinica
Software Engineer


Verified 0%

Attention. There is a risk that unverified members are not actually members of the team


$12 000 000

Raul Jordan
Fabio Canesin


$8 250 000

Ethan Fast
Alex Iskold
Alex Tabarrok
Andrei Pitis

Elrond Network Interviews

Dan Voicu
As a team member, сan you tell us about your role in the ICO project?
To present adequate info about our improved blockchain solution, and to help everyone understand our goals
What do you think about idea?
Cutting edge tech will prevail and promote mass adoption. Elrond is designed in a user friendly way and has a low network participation cost (proprieties overlooked by other projects)

Elrond Network Last News

$ 0.0072
Coin Stats
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Weekly, %:
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Market Info
Market Cap:
$ 41.682 M
Volume 24h:
$ 144.864 M
Circ. Supply:
5.852 B ERD

Elrond Network Reviews

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We are still evaluating this ICO and looking forward to a call with the Tech Team

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Crypto Calibur

Currently, we feel that it is too early in order to determine whether the team will be able to produce an outstanding project. With that said, the main team is promising and based on their network and previous relevant experience, there is a relatively high probability that they will be able to give their competitors at least some things to think about. We believe Elrond’s team needs to move quick in order to seize a place in the competitive field they are running in. Lastly, it is important that the team deploy their marketing and business strategy efforts as soon as possible, and do not wait too long before attracting interesting parties into their community. We will keep a close eye on this project, and are curious how it will progress in regard to its development and hype.
• Hardcap has been announced - $15.2 million
• Token metrics have been released and 55% of the total supply is dedicated to investors
• Public prototype has been released and test net is in progress
• Elrond Network is now a fully open-sourced project
• Improved documentation and website
• Revamped project roadmap; the team has completed their milestones in a timely manner this far
• New roadmap additions: Elrond's VM with Smart Contracts and Testnet Audit in Q1 2019 + Creation of the Elrdon Hub and Elrond Society in Q3 2019
• Elrond Initiates Cooperation With Leading Payment Provider NETOPIA Payments
• Elrond's team has expanded to a total of 17 team members (from 9), adding new software engineers, devleopers, and researchers, along with marketing and UI/UX designers
• New advisor: Sunny Aggarwal who is a core devloper for Tendermint/Cosmos projects, and one of the Co-Founders of the research group Blockchain at Barkeley
IMPORTANT: 10% of the tokens (dedicated to advisory board and partners) have no lock-up, and neither do we know what discounts they were given at. If the discounts are above 50%, then this can potentially make Elrond a risky investment in the short-term

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Midgard Research

Elrond Network is a definitely rare case in crypto, and here is why:
Elrond brings to the table Adaptive State Sharding, a solution that will scale almost linearly with the number of shards, improve communication inside the shards, increase performance through parallel processing and reduce storage.
Project exists since October 2017, testnet is almost ready, and all the development was self-funded by the co-founders. No private sale, no funds, no pre-sale, no shady deals at all.
Elrond team has already showcased its prototype and opened their GitHub in November, since then the team re-wrote everything from scratch in GO (previously it was written in Java) for the testnet, and has achieved a 30x performance improvement.
Quick stats:
3750 transactions per shard
1500+ commits on Github
140k lines of code
The team consists mostly of software developers with high expertise.
CEO was part of the NEM core team and has been active in the blockchain industry for more than 4 years. We see that the team is not afraid of publicity at all, you can watch multiple videos on their twitter, showcasing the team members at the office. 
Elrond has a partnership with Netopia payments, the biggest electronic payment processor in Romania. 
We are really keen to see the code review from any competent reader of our channel:)

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