The price Elrond today is 252.06 USD, and the trading volume in 24 hours - 211,634,203 USD. The crypto asset has grown by -1.77% over the day. Currently, the coin’s market capitalization is 4,904,772,373 USD, and has 19,458,746 coins in circulation with the max supply of 22,420,054 coins EGLD.
What is Elrond (EGLD)?
Elrond is a blockchain designed to provide high throughput and relatively fast execution speed compared to other smart contract platforms. Elrond also contains a WebAssembly-based virtual machine that can support the creation and execution of decentralized applications (dApps).
What is unique about Elrond?
The current issue of Elrond offers rewards for stacking to stimulate the involvement of the validator and delegator. Network participants can increase their relative share of the total number of token holders, helping to protect the network.
The project will have a minimum guaranteed amount of remuneration per year, which is reduced annually. This level of inflation should reach zero by the eleventh year after the launch of the main network. The tight cap on eGLD's annual output means that Elrond must grow its commission market organically over the next decade to pay validators for their ongoing contributions.
Who created Elrond?
The project was created by a group of entrepreneurs, as well as 13 engineers and researchers who worked in various technology companies, such as Microsoft, Google, Intel and NTT DATA. The team includes two PhDs in CS and AI, and several Olympiad champions in mathematics, CS, and AI.
How many Elrond tokens are in circulation?
Elrond's economic policy provides for a theoretical maximum EGLD supply of 31,415,926 tokens, but since the annual issue is offset by transaction fees, the actual maximum EGLD supply may be less than the theoretical one.
The calculation and distribution of rewards and fees are performed at the end of the epoch and added to the first block in the next epoch by the authors of the blocks. For all blocks created in a round by each shard, 10% of the block transaction fee goes directly to the block provider. The remaining 90% of all block transaction fees are added to the pool and distributed to all validators at the end of the epoch.
As of January 2021, EGLD's current coin offering was over 16 million coins.
How is the Elrond network protected?
Using its Proof-of-Stake (PoS) algorithm, which it calls Secure PoS, Elrond selects validator nodes to create blocks and complete the consensus process on specific shards. At the beginning of each round, SPoS selects validators to reach a consensus, using a randomness source that is calculated from the previous block and signed by the consensus leader (proposing the block) of the current round. The resulting signature will be a source of randomness for the next round, and because it depends on the previous block, it cannot be known more than one round in advance.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.