Greetings everyone and thank you for your continuous support! We feel it is essential to keep an open discussion with our community as we make progress in building Elrond. Consequently, this week we want to give a brief technical and business update on where we stand and how the next couple of weeks will look like.

Technical Update

The Elrond team is working tirelessly to release the first version of Elrond’s Prototype v0.1.0 which represents a second significant milestone, and is expected to be released at the end of June/early July.

Some of the major technical challenges we’ve just completed are:

- Communication layer: the P2P network that provides the infrastructure needed for the following operations: direct messaging, information broadcast and channel communication.

- Cryptographic layer: signing and verification for transactions with Schnorr scheme and Bellare and Neven multi-signature method for blocks.

- Blockchain Core: the backbone data model used to store blocks, transactions, accounts and any additional information needed for the distributed ledger.

- Execution Engine: the most essential part of the architecture that processes transactions and assembles blocks while replicating the state across the network to ensure consistency and security.

We have just finished one of our sprint cycles, concluding with the first part of Elrond’s prototype, a network that can successfully process transactions between clients.

Our next sprint will likely lead to our full prototype release, and will focus on increasing the network throughput by implementing various consensus optimizations and adding a rudimentary sharding layer. In addition to this, we are working on a one-click install app, that will eventually allow everyone to effortlessly run an Elrond Node.

Elrond Node Prototype

Here is a sneak-peek on the node app and how the UX/UI will look like: