Welcome to Elrond - Overview

Quick overview on Elrond

  • Status: Elrond has been in heavy development for 1.5 years and we've now released the testnet with promising results πŸ™Œ

  • Technical paper: The latest version of the technical paper can be found here. Happy to hear your feedback and peer review πŸ€“

  • Testnet: Elrond testnet is up and running, exceeding 10k TPS with only 5 shards. We've also made the first version of the code open source. Take a look, let us know what you think 🏎️

  • Wallet and explorer: With the testnet we have also released the first version of the wallet and explorer. Come test them and be sure to request your first test ERDs πŸ’°

  • It's only day one: We're in heavy active development, and will add, clarify or modify this documentation significantly during the next few weeks. Appreciate your feedback πŸ™

  • Contact: The fastest way to reach us is telegram or riot. See you around 🌎 And remember, the early 🦜gets the πŸ›

What is Elrond

Elrond is a new blockchain architecture, similar to Bitcoin or Ethereum, but designed from scratch to bring a 1000x cumulative improvement in throughput, execution speed and transaction cost. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism - enabling parallel transaction processing, and hence linear scalability, and a Secure Proof of Stake (PoS) algorithm - ensuring a fast, efficient, and secure consensus mechanism. Elrond’s testnet is already live, and can process upwards of 10K TPS, with 5sec latency and negligible cost. Be sure to check the code for yourself.

How is Elrond different?

Bitcoin was the first to introduce blockchain technology, and prove that we could transfer ownership without the need for a trusted third party. Ethereum was the second major iteration, adding a scripting language with smart contracts to the blockchain. But neither Bitcoin, nor Ethereum have come anywhere close to the performance needed for using blockchain at scale in real world settings.

Elrond has rebuilt everything from scratch to bring a 1000x improvement in throughput, execution speed, and transaction cost. Think of it like the transition the internet went through when switching from dialup to broadband. For a detailed overview on how Elrond compares to other blockchain architectures check "Detailed comparison" section:

Here is a short overview in the meantime:

Elrond wallet and explorer

We've just launched "Zero to One", Elrond's testnet along with beautiful block explorer and wallet. While these are just the first iterations, we are excited to share them with our community. Be sure to check them out at testnet.elrond.com and drop a line in our telegram channel to receive some testnet tokens.

Roadmap and current status

Q2 2019:

  • Private testnet launch with SPoS and Sharding - done

  • Implement cross-shard communication - done

  • Initiate consensus node reshuffling - done

  • Implement BLS single sig for randomness generation - done

  • Add BLS multisig for consensus signature aggregation - done

  • Launch Elrond block explorer - done

  • Launch Elrond wallet - done

Q3 2019:

  • Public testnet launch - done

  • Launch Battle of Nodes & stress testing - done

  • VM Integration - done

  • Launch Elrond game dApp - done

  • Finalize Elrond token economics

  • Develop shard adaptivity - done

  • Complete shard pruning - done

  • Complete security audit

  • Ecosystem expansion: sign 5 MoUs for business partnerships, organize 1 hackathon - done

  • Global community PR & marketing - done

Q4 2019:

  • Complete the Battle of Nodes event

  • Elrond mainnet launch

  • Ecosystem expansion: sign 10 MoUs for business partnerships, organize 2 hackathons

    Local community PR & marketing

Q1 2020:

  • Introduce Elrond digital identity

  • Initiate token swap and staking

  • Launch of Elrond dApp store

  • Launch of Elrond name service

  • Launch Elrond DEX

  • Implement Functional payment gateway

Q2 2020:

  • Introduce Palintir - Elrond privacy features

  • Introduce Elrond cross-chain interoperability

Run a node, earn rewards

With our testnet out, we've just released our first validator guide. Take a look and be sure to share your feedback:

Build on Elrond

We love developers and have built a Meta VM to support several languages at the same time. The Elrond VM will be released in the next 2-3 weeks. You can check the Elrond VM section below in the meantime:

Join our community