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Elrond (EGLD) is the 69th largest cryptocurrency in the world by market cap, valued at $1,097,079,074. The current price of Elrond is $44.02, which is 0.663% higher than yesterday. Prices have ranged between $44.46 and $41.73 over the past 24 hours. All prices are listed in US dollars and accurate as of January 27, 2023 11:01 UTC.
Elrond (EGLD) is a unique blockchain protocol that has one main goal in mind – speed. According to Elrond documentation, the blockchain network is capable of executing 15,000 transactions per second (tps), which is a significant increase from Bitcoin’s 4.6 tps.
This efficiency in smart-contract execution is intended to address the issue of scalability for decentralized applications built on top of the network. These speeds are achieved through a blockchain process called “sharding”. Sharding allows for the parallel processing of data using over 2,000 validator nodes. Elrond’s network works on a proof-of-stake consensus algorithm and initially operated on the Ethereum blockchain. However, it now boasts its own independent mainnet. EGLD is the native token of the Elrond network and is used for the management and security of the blockchain. Though originally minted as an ERC-20 (Ethereum-based) token, the tokens have now transitioned to the Elrond Mainnet. Holders of the coin can participate in securing the network either as a validator or delegator.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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