The highest level of scalability
The main objective of the project is the creation of new architecture of the blockchain, which will go beyond the maximum current level of scalability. This is done using adaptive sharding Protocol, and the consensus SPoS (Secure Proof of Stake). At the same time, considerable attention is paid to efficiency in the field of security and confrontation to these types of attacks, like Rogue-key, Sybil, Nothing at Stake and others.
The bet is placed on keeping a balance between parameters such as decentralization, scalability and security. In any project view you can call a specific rethinking of the basic architecture of the blockchain.
During the birth of the Internet humanity has obtained something more than a useful technology. The planet has a tool that allows you to instantly obtain and share any of the information. Subsequently, the development of technology went truly “leaps and bounds”, which led to greater speeds and capabilities.
At the same time, the public Internet has lost that independence and lack of control, about which many have dreamed. In the hands of state-controlled structures were powerful tools of tracking and control. And because of this there is a need to implement radically new network layer. Layer that retained all those characteristics that are valued by many, and, thus, provide the necessary level of decentralization.
That is the goal, starting in 2017, engaged in the project team Elrond. Their task is the creation of a new Internet infrastructure that will have:
the highest level of scalability;
a more serious indicator of the confidential information;
the ability to resist censorship of the Internet applications and technologies;
the ability to run different models of management within the network.
It is for this purpose launched the project, which now supports multiple languages subspecies to create smart contracts.
Two main technologies that underpin the project:
Adaptive sharding.
Secure Proof of Stake (SPoS).
Adaptive sharding is a special scaling method, which allows you to optimize database, by horizontal division. Blockchain, the network is broken into pieces and thus, is able to significantly increase the speed of concurrent processing of many transactions. In the course of sharding takes place: separation of the network, transactions, and conditions. Thus, the model of sharding allows you to adapt to an increase or decrease in the number of nodes without harm to the setting of decentralization and security.
The algorithm SPoS — development, a consensus which is achieved by random selection of validators, determining the right to bid and special rating with the optimal dimension for a consensus group. Due to the mechanism with a choice of random numbers to determine which node in the group of segments prevents the vast number of highly adaptive and malicious attacks on the network.
The constant output of the many blockchain projects without a specific purpose and meaning, the team Elrond looks more than attractive. Startup brings not only new ideas, but fundamentally new technological basis that allows you to believe in the prospect of the development.
