Elrond (EGLD)
Summary
Elrond (EGLD) in Summary
eGold, or EGLD, is the native token of the Elrond blockchain. It is used for paying network fees, staking and rewarding validators.
Elrond protocol seeks to offer extremely fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralized finance and the Internet of Things. Its smart contracts execution platform is reportedly capable of 15,000 transactions per second, six-second latency and a $0.001 transaction cost.
Elrond was first announced in August 2019, and its mainnet went live in July 2020.
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