A complete redesign of public blockchain infrastructure
Elrond Network is a public blockchain network focused on providing security, efficiency, scalability, and interoperability using adaptive state sharding and a new Secure PoS consensus algorithm. Elrond’s blockchain offers more than 10,000 transactions per second with low block times (5 seconds), negligible transaction fees, and fast finality. It promises to be a great platform for smart contracts and dApps compared to other blockchain platforms.
The adaptive state sharding used by Elrond works via shard merges & splits with a fully sharded architecture which includes state, transactions, and network. This combination is claimed to be resilient against malicious attacks due to validators shuffling between shards. Elrond also features smart-contract royalties, the first of its kind, where 30% of the fees can be allocated to the smart contract author.