Elrond (ERD) is an enterprise-grade, highly-scalable, blockchain protocol that utilizes the Secure-Proof-of-Stake (SPoS) consensus algorithm. After having successfully completed its initial exchange offer (IEO) through Binance Launchpad, Elrond has emerged as one of the most promising projects that seek to address some of the major pain points of all blockchain projects, such as scalability, interoperability, and high-throughput, among others.
In this Altcoin Explorer, BTCMananger deep dives into the Elrond ecosystem. We look at the tech infrastructure underpinning Elrond, exchange support, partnerships, and other factors that separate Elrond from the vast majority of other distributed ledger technology (DLT) projects vying to effectively tackle blockchains most apparent bottlenecks today.
IEO and Exchange Support
Elrond successfully completing its initial exchange offering (IEO) last year, raising $5.1 million on Binance Launchpad – the security token offering platform of Binance crypto exchange. The protocols native digital token, ERD, was listed on Binance on July 4, 2019, with several trading pairs: ERD/BTC, ERD/BNB, ERD/USDT, ERD/USDC, and ERD/PAX.
Notably, ERD tokens are powered by the Binance Chain and can be easily stored on any of the Binance BEP2 compatible wallets. Some of the most secure cryptocurrency wallets that support ERD are Ledger Nano S (Hardware), Guarda Wallet (Desktop and Mobile), Binance Chain Web Wallet (Web), Trust Wallet (Mobile), and Ellipal Wallet (Hardware).
Most recently, Binance-backed Indian cryptocurrency exchange WazirX announced the listing of ERD.
Tech Infrastructure Powering Elrond
Elrond stands apart from a sizeable number of other blockchain projects courtesy of its innovative approach to achieving scalability consensus algorithm. Below, we explore Elronds Adaptive State Sharding and Secure Proof-of-Stake (SPoS).
Adaptive State Sharding
In essence, Elrond is a sh ...