Elrond is a Public platform blockchain (blockchain public) was created to provide scalability, interoperability, and high throughput using two key elements: Adaptive State Sharding and a new consensus mechanism Secure Proof of Stake (SPOS).
Mục tiêu của Elrond là tạo ra một mạng phi tập trung có thể cung cấp hiệu suất 10,000 giao dịch mỗi giây ( Ethereum only 15 TPS), while providing users with greater security.
In addition, the Elrond team hopes to solve the scalability dilemma, as well as improve the blockchain's speed, scale, cost, and user experience x1000 times.
According to the data compiled by DeFi Llama, the smart contract platform layer 1 uses one of the most advanced programming languages WASM, currently the 10th largest decentralized finance (DeFi) ecosystem with TVL is 1.93 billion USD.
Layer 2 . extension network Arbitrum lead Elrond in TVL with $2.05 billion and Waves is 11th with $1.52 billion. Ethereum leads all blockchains with a total value of $175.24 billion, more than half of DeFi's $260 billion value managed by various protocols.
Elrond activity on the mainnet in July 2020, was slow to attract developers but is now growing faster thanks to the massive liquidity mining program from decentralized exchange Maiar. On November 19, Elrond (EGLD) launched the floor DEX Maiar and its liquidity stimulus fund of $1.29 billion, with $282 million set to be distributed in its first month of operation.
Besides, the reward is converted into Maiar's MEX governance token, which immediately received a positive signal when the price increased since the beginning of the program to $0.001345. With 5.44 trillion MEX set to be distributed over the course of a year, the value of the stimulus program now sits at $7.32 billion in incentives, possibly the largest liquidity mining in the world. DeFi history, assuming prices remain stable.
Elrond Network CEO Beniamin Mincu said that an initial airdrop of MEX to EGLD holders helped the team to optimize Bootstrap (a tool that can help developers withdraw money). programming time and save a lot of time when not having to write code manually).
“With 60,000 users able to claim MEX based on their amount of EGLD before commencing operations, Maiar DEX already has an impressive number of daily users, and it continues to grow.”
As the competition heats up among multiple platforms layer 1 To attract users and funds, projects are increasingly turning to various development funds to highlight their own ecosystem, including Avalanche (400 million USD), Celo (100 million USD), Fantom (370 million won) FTM), Harmony (300 million USD), Algorand (150 million won) ALGO), Hedera Hashgraph (10.7 billion won) HBAR), Kava ($185 million), Cardano (100 million USD), Binance Smart Chain (1 billion USD), Polkadot (774 million USD), Near (800 million USD) and Oasis ($160 million), but so far there are few rivals the size of Maiar and Elrond.
However, Mincu also revealed that Elrond now has active cross-chain bridges with Ethereum, Binance Smart Chain (BSC), Polygon (MATIC), Avalanche (AVAX), Fantom (FTM) and Tron (TRX), and more categories in the DeFi space will come to Elrond in the coming months, including lending and asset aggregating.