Elrond Network

Elrond Network is the earlier name of a public blockchain now presented under the MultiversX brand. It was designed to be secure, efficient, scalable and able to work with other networks. Its audience covers developers, businesses and ordinary users.

What Elrond Network offers

• Adaptive state sharding — the chain state is split into shards that different validators process in parallel.
• Proof of stake consensus — a variation of staking-based agreement that avoids energy-heavy mining.
• Smart contracts — developers can build decentralised applications and run contracts on the network.
• Native token — EGLD is used to secure the network, pay for activity such as payments and NFTs, and vote on upgrades.
• Wallets with on-chain two-factor protection — for holding funds and using apps.
• Cross-chain bridging — assets from Ethereum, BSC and other chains can be brought across.

Who it works with

Developers building decentralised applications, businesses that want a fast and secure enterprise option, and members of the public using it as a route into the digital economy.

Key facts

• Current brand: MultiversX
• Latest upgrade: Supernova, described as the second major mainnet version
• Community: active on Discord and Telegram