Elrond is the first Blockchain platform which applying adaptive State Sharding and Proof of Stake for security system

Idea of product development

Elrond is a Blockchain platform, applying adaptive State Sharding and Proof of Stake for security system. Project team makes sure that they will adopt Secure Proof of Stake – a form of innovative variant of Proof of Stake guaranting sercurity and decentralized equality while limiting the need to use mining energy of POW alogrithm . Besides, Elrond uses shard horizontal calculation, storing data in horizontal row. Today, this idea is not too new because previous blockchains have already done and achieved outstanding accomplishments in cryptocurrency market, such as Zilliqa ( 2+ TPS), Tomochian ( Testet reaches 1k TPS), recently QuarkChain ( Testnet reaches +2k TPS)

Creating the expanded blockchain architecture and distracting security deal with current issues of permissonless blockchain such as Bitcoin, Ethereum.

Elround compares itself with other blockchains like Ethereum 15 TPS, Bitcoin 7 TPS, Visa 5000 TPS, elrond : 10k TPS.

Elrond had the initial test proving the ablity to solve through put , which is 1000 times as efficient as Eth, BTC, Visa. However, the testnet has not been public.

Elrond makes a great effort to tackle 2 following problems:

Minimizing the demand of using POW consensus mechanism and recommending using Secure Proof-of-Stake consensus mechanism.

Reinforcing communication in shard and making state blockchain more essential.

That Elrond randomly ensures options of consensus group can not be predicted. Shards will be accidentally grouped to add an anti-attack security layer. Using multi-signature to seal blocks, providing highly efficient crypto layer





There are 3 main shading types: network shading, transaction sharding and state sharding. Network sharding ensures that nodes are grouped to form shards. Merchanism of linking nodes into shards is to resist attack from an attacker and then withstand a specific shard. Transaction sharding plays a part in linking and processing transactions. In system based on accounts, transaction will be attached to shards on a basis of sender’s address. State sharding enables each shard to maintain a sole state location. Each transaction containing accounts at different shards will exchange information and update situation at different shards.

It is promising to be the first portal Blockchain platform in the world, applying Adaptive State Sharding and Secure Proof of Stake. The objective is to become EVM, which is compatible with cross-chain integration.

Development team

CEO: Beniamin Mincu had been a member of NEM's core team since 2014 but held main responsibility in business, marketing and communication for NEM post on Bitcoin in a year and a half. Before that, he was the CEO of Metachain Capital fund, investing in projects such as Ziliqua, Icon, Wanchain , Nebulas, and more. Prior to that, he is Co-founder of the ICO Market Data for 10 months, and the company focused on ICO investment analysis, which was quite small. He also has 4-year experience in Blockchain investment. COO: CEO of Lucian Todea - founder and CEO of soft32 over 15 years in terms of online software platform for apps on Mac, window, mobile, has more than 61k visitors per day. CIO: Lucian Mincu is an accomplished infrastructure engineer with 8-year experience in developing startups, designing and implementing engineering, networking and infrastructure solutions for large enterprises such as German State. He enjoys cutting-edge technology, and he has been participated in blockchain since 2016. He is also the co-founder of the Metachain Foundation and the ICO Market Data. Head of Research: Alexandru Butean holds a Ph.D. in Science Studies and Teaching Database Architecture as a Professor Assistant in the University. He is one of the founders of the INCON Research Center. He has more-than-12- year experience in software architecture, enterprise architecture, EU fund-raising research ...



Main programmer Sebastian Marian: won in the 3rd place 4 times in the international competition about AI: RoboCup (annual international robotics competition, established in 1996). He is a member of the RoboCup Executive Council, a member of the RoboCup Technical Committee. He has advanced experience in Multi-Agent Systems, Machine Learning and AI. He holds a bachelor in Computer Science and Software Engineering with over-18- year experience in working in various languages and technologies. However, the companies he underwent earlier were not very famous.

Adrian Dobrita: Main Developer: won National first Prize of the Multi-Agent AI System Competition. He holds a Bachelor of Science degree in Computer Science and a Bachelor of Advanced Computing System. With more than 10 years of experience, he is a software engineer with proficient skills in using programming languages. Software Engineer at AUSY, service and information technology company, for more than a year, however this company is not very well known.

Main Developer: Ion Ceban holds a Computer Science degree and a Bachelor degree in Advanced Computing. He is a full-stack programmer mainly in web and mobile applications with languages namely NodeJs, Angular 6, ReactJs and React Native. He has over-9-year-experience in working with both large and small start-up companies and he is passionate about using top-end solutions and software architecture pattern to solve complex problems.

=> Overall, the development team is clearly divided in terms of the positions such as the executive, executive, programmer or research but no marketing or community management. This explains the reason why if you join the Telegram, you will see all people in the core team answering the question managing community as the team focused developing prototype, not on marketing. If you look at the details, you can realize that in the team, CEOs and COO are the two most prominent members.

Overall rating: moderate

Roadmap



Currently, Elrond's roadmap has reached five main milestones starting from the third quarter of 2017 when it began to work in technique.

Q2 2018: basic diagram in terms of technique, completing Proof of Concept

Q2 2018: First Basic Product of Elrond Prototype

Q4 2018: launching Elrond's Testnet

Q3 2019: releasing the mainnet

> Roadmap is short, concise but long, and it makes a slow progresses . We contacted and were confirmed that the team were making great efforts in the initial product following the roadmap at the end of Q2 prototype. Then, this schedule will be edited.

There are no Advisor and no public github

Community



Telegram: + 7,9K members

Twitter: +400 follower

Admin is a member of Elrond's coreteam , actively answering community questions including tokensale or technique.

Conclusion

It is too premature to affirm that whether Elrond team can do what they said. However, this is a quite enthusiastic and promising team! In order to compete with other strong projects, the team needs to move faster and faster than this current time, both in terms of product and marketing strategy, to gain the support of the community. Most recently, the team has posted updates that they have attained transaction processing - a milestone!

Rate from Icogens :

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Source: icogens.com