Hello and welcome to this blog post about Elrond EGLD White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the Elrond EGLD white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Elrond (EGLD).
I can ensue you that, you will be able to understand every bits and pieces related to Elrond (EGLD) after going through the Elrond EGLD white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
Elrond EGLD White Paper
Elrond EGLD white paper will be going to provide you, all the information that is needed to get started with Elrond (EGLD), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Elrond (EGLD).
“ The advent of secure public blockchains through Bitcoin and later Ethereum, has brought forth a notable degree of interest and capital influx, providing the premise for a global wave of permissionless innovation. Despite lofty promises, creating a decentralized, secure and scalable public blockchain has proved to be a strenuous task.
This paper proposes Elrond, a novel architecture which goes beyond state of the art by introducing a genuine state sharding scheme for practical scalability, eliminating energy and computational waste while ensuring distributed fairness through a Secure Proof of Stake (SPoS) consensus.
Having a strong focus on security, Elrond’s network is built to ensure resistance to known security problems like Sybil attack, Nothing at Stake attack and others. In an ecosystem that strives for interconnectivity, our solution for smart contracts offers an EVM compliant engine to ensure interoperability by design.
Preliminary simulations and testnet results reflect that Elrond exceeds Visa’s average throughput and achieves an improvement beyond three orders of magnitude or 1000x compared to the existing viable approaches, while drastically reducing the costs of bootstrapping and storage to ensure long term sustainability.”
White Paper Link: Elrond (EGLD) White Paper
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