Audit Date: 27 September 2022
ECOSYSTEM SCORE
27 September 2022
71
ALERTS
Aug 03, 2022

Major outage of Testnet resolved

Aug 03, 2022

Major outage of Testnet was on Aug 2,2022

REVIEW NOTES
Jun 21, 2022

Third party services increases by oracle integration and cloud provider

Jun 21, 2022

Add-Ons are decreases by security auditing tool

Jun 21, 2022

Foundation tools increases by essential tools, programming languages and sdks

Jun 21, 2022

Documentation score is increased as API documentation are added

PERFORMANCE
Empty container
80
NODES

3,200 nodes

WRITE SPEED

27,097 ms

READ SPEED

735 ms

GAS FEES

1,000,000,000 atoms of egld

UP TIME

100%

PERFORMANCE MATRIX VALUE MONITORED AT
Read Speed 735 ms
Write Speed 27,097 ms
Gas Fee 1,000,000,000 atoms of egld
Uptime Percentage 100%
Node Count 3,200 nodes
Reddit Total Members Online 441 members
Reddit Total Members 16,300 members
Discord Total Subscribers Online 409 subscribers
Discord Total Subscribers 4,426 subscribers
Telegram Err 27 err
Telegram Ppm 22 ppm
Telegram Views Per Post 6,714 views
Telegram Total Subscribers Online 2,444 subscribers
Telegram Total Subscribers 58,185 subscribers
FOUNDATION TOOLS
Empty container
70
ESSENTIAL TOOLS
PROGRAMMING LANGUAGE SUPPORT
SDKs
DOCUMENTATION
Empty container
100
API DOCUMENTATION

Exists

NODE SETUP

Exists

SKELETON CODE

Exists

VALIDATOR NODES

Exists

GRANT PROGRAM
Empty container
0
AVAILABLE GRANT

N/A

ADD-ONS
Empty container
80
THIRD PARTY SERVICES
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67
PROTOCOL SUPPORT
Empty container
20
ADOPTION
Empty container
100
DEVELOPERS

5,365

REPOSITORIES

168

COMMUNITY
Empty container
100

Overview

Scalability is a common concern with many legacy blockchains. To address this problem and other common concerns such as lack of security, Lucian Todea, Beniamin Mincu, and Lucian Mincu launched Elrond in 2017. Elrond protocol exhibits great speed, security and scalability and is ideal for hosting dApps and other enterprise-grade use cases. 

Elrond has a unique sharded design that allows it to overcome many major blockchain limitations and achieve high throughput. Elrond significantly reduces storage and bootstrapping costs for long-term sustainability.

About Elrond

Elrond is a blockchain protocol designed for security, speed and scalability. Its network is powerful enough to function at an "internet scale." The protocol uses adaptive sharding and Secure Proof of Stake for increased throughput and to solve the blockchain trilemma. According to the blockchain trilemma, it's impossible to achieve security, scalability, and decentralization simultaneously with our current state of technology. However, Elrond stands to solve this trilemma with its unique modus operandi.

Consensus Mechanism

Elrond reaches consensus on transactions through a mechanism called Secure Proof of Stake (SPoS), which is a upgraded version of Proof of Stake that ensures distributed fairness and long-term security.

It involves random consensus group selection for high security and eliminates computational waste.

Key Features

  • Elrond works on the principle of adaptive sharding for increased throughput and efficiency.
  • The protocol uses Elrond VM (Elrond Virtual Machine) as its smart contract execution engine. It is one of the fastest virtual machines in the blockchain space.
  • Elrond maximizes security with the Secure Proof of Stake consensus mechanism.
  • Elrond's built-in automatic transaction routing and state redundancy mechanisms significantly reduce latencies.
  • Transaction costs are negligible, ranging at around $0.001 per transaction.

Founder

Lucian Todea, Beniamin Mincu, and Lucian Mincu launched Elrond in 2017. While Lucian Todea is currently the COO, Beniamin Mincu is the CEO, and Lucian Mincu is the CIO of the company.

Popular Use Cases

  • Maiar exchange is a DEX automated market maker.
  • CryptoBubbles is an engaging, Elrond-based game.
  • Maiar wallet is a wallet you can create with your phone number in seconds.