Jaykenneth
Nov 8 · 4 min read

Elrond Network - A scalable value transfer protocol
for the digital economy.

“WE are here for the tech,”.
That’s what most long-term investors would have to convey to a “promising technology” despite market fluctuations.
Technologies that aim to solve varieties of problems by pushing into the very limits of understanding. Some of those technologies are already flooding the market, some on the development stage and some even superior ones are still in theory or research. But how is it that some of those existing developed technologies aren’t as lucrative as it seems? And why are some still on papers? There are already more advanced, efficient, pragmatic applications built on top of those “promising technologies” than what most people are adopting. But what keeps these technologies to reach the mainstream? There are tons of sensible and straight-forward questions for the topic. It’s a big challenge that must overcome.
Even if it gained popularity, maintaining it is another article.
Elrond is one of those Promising Projects with an Application of Advanced blockchain Technology (10k tx/sec, Secure Proof of Stake consensus, cross chain interoperability, Elrond “Zero to One” Testnet). This technology aims to solve the problems with inefficiencies and ineffectiveness with previous and other adopted blockchain technologies.
This technology is the core of Elrond and its greatest weapon.
Creating such a weapon won’t be possible without a group of dedicated people investing utmost attention — writing codes/algorithms, funding, and all necessary works. The coordination with each other, the bond that’s keeping them together to achieve the very goal, is the greatest strength of Elrond. Elrond solves scalability issues, Inefficiency issues — (costs, fees, resource consumption), Security and Decentralization issues that most projects are trying to dope out or reduce to as minimal as possible.
The technology applied will replace the commonly used approach today, but again the question is when and how?
There are massive walls of challenges to overcome to deliver such a technological feat for mass adoption.

“No matter how good the technology is if there’s no community to support, it’s useless.”
Another crucial aspect to consider is “community”.
It is one of the founding pillars for any project or business to stand and compete with the rest. There are several categories for the members of the community, different roles play a part in the project’s success.
The community acts as a campaign, an advertisement, testifies about the product, and anything beneficial. Feedback from the community is valuable information to determine the strengths, weaknesses, and faults.
Without the people to test and advertise, there will be less guarantee that there will be someone to embrace it. But growing a community itself is a challenge. Elrond dedicated a lot of time, effort, money and patience to recruit the right people. Most projects have strict guidelines to follow to filter out actors and legit people to join the circle. At Elrond, the team isn’t just categorized by the people working inside the office, the CEO, the developers, the marketing staff, the community administrators, and the private investors. They also categorize the people who make the noise on different social media platforms and any platform where they can popularize anything about Elrond, the node warriors and all those who impart anything that will benefit the project. Those people are being rewarded fairly depending on their participation and contribution. The project is approaching its Mainnet and there are already collaboration and partnerships and more underway. The network is being constantly monitored. The core team is working on every corner of the coding, network and nodes, looking for holes that might breach integrity. Risk Possibilities can’t be exactly quantified the same as solutions can’t be a hundred percent absolute, but the use of a proper technology can reduce it. Elrond team with its trusted algorithms shouldn’t slack its attention even after years of integration and use.
Technology might advance fast and more than what we can comprehend.
Exploits might destroy a glorified technology, thus Elrond Team must develop a high level of resiliency and consistency.
The human spirit must prevail over technology.” -Albert Einstein

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