BlockchainBrad speaks exclusively with Beniamin Mincu, Elrond CEO. Elrond is user-friendly blockchain for deploying programmable money and unstoppable applications. Elrond eliminates the need for intensive PoW consensus algorithms and proposes a novel and more robust Secure Proof of Stake consensus, enhancing intra-shard communication and pruning the blockchain state to the most essential.
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Comparable in throughput as to centralized counterparts
Elrond is especially designed to bring a 1000x overall improvement by being scalable, efficient and secure while maintaining a sufficiently decentralized setting. To achieve this we introduce a novel Adaptive State Sharding mechanism, enabling linear scalability as more nodes join the network by parallelizing transaction processing.
Performing network services with minimal energy & computational requirements
The first blockchain consensus algorithm based on Proof of Work (PoW) is used in Bitcoin, Ethereum and other blockchain platforms. In Proof of Work each node is required to solve a mathematical puzzle (hard to calculate but easy to verify).
Enabling secure transactions and maintaining security in face of attacks. Elrond is built to ensure resistance to known security problems like Sybil attack, Rogue-key attack, Nothing at Stake attack and others. Elrond introduces an improvement which adds security and reduces latency, allowing each node in the shard to determine the members of the consensus group (block proposer and validators) at the beginning of a round.
Elrond Virtual Machine
The Elrond Virtual Machine’s implementation will hide the underlying architecture isolating the smart contract developers from system internals ensuring a proper abstraction layer. In Elrond, cross chain interoperability can be implemented by using an adapter mechanism at the Virtual Machine level.
0:40 CEO Overview
8:45 How Elrond is different
17:20 Traction / Roadmap
29:50 Enterprise example
45:10 Enterprise partnerships
53:06 The Raise (Self Funded!)
1:10:05 Exchanges / IEO?
1:23:15 Brad’s holdings
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This was 100% free and I received no financial compensation from the Elrond Team for doing this video; not in fiat, tokens or any form on payment. Since several months ago, I decided to do only free content unless legitimate LONGTERM ambassadorships were involved. I believe that sponsored content is not a problem if disclosed, but this was NOT sponsored and there was absolutely no compensation received in any way, shape or form for this interview that I receive. This is not Financial Advice. Please #DYOR
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