Crypto lottery: 1 Elrond (EGLD)

What is Elrond (EGLD)? Elrond is a blockchain protocol that aims to offer extremely fast transaction speeds through the use of sharding. The project describes itself as a technology ecosystem for the new internet, including fintech, decentralised finance and the internet of things. Its smart contract execution platform is capable of 15,000 transactions per second, a latency of six seconds and a transaction cost of $0.001. The blockchain has a native token known as eGold, or EGLD, which is used to pay network fees, gamble and reward validators. Elrond was first announced in August 2019, and its main network launched in July 2020. Elrond describes itself as a blockchain platform for the new internet economy, decentralised applications and enterprise use. Its main selling point is its high scalability, stating that it is the first blockchain network in which state, network and transaction fragments have been implemented. According to its economics article, the platform seeks to build its ecosystem and establish EGLD as a store-of-value asset. To achieve this goal, the network runs on 2,169 validation nodes divided into four shards: three execution shards, capable of 5400 transactions per second each, and one coordination shard, the "Metachain". Elrond's adaptive state sharding architecture completely shards state, transactions and the network. It can scale by adding an additional shard when performance demands are not met. It was tested to run 263,000 TPS in a public environment with 1,500 nodes from 29 countries grouped into 50 shards. To increase adoption, the project also supports developers who build on the platform, allowing them to earn 30% of smart contract fees as royalties.