Elrond is a complete rethinking of public blockchain infrastructure, specifically designed to be secure, efficient, scalable and interoperable. Elrond’s main contribution rests on two cornerstone building blocks:
- A genuine State Sharding approach: effectively partitioning the chain state into multiple shards, handled in parallel by different participating validators.
- Secure Proof of Stake consensus mechanism: an improved variation of Proof of Stake (PoS) that ensures long term security and distributed fairness, while eliminating the need for energy intensive PoW algorithms.
Features & Highlights
Adaptive State Sharding: Comparable in throughput as to centralized counterparts. Our architecture goes beyond state of the art and can be seen as an augmentation of the existing models, improving the performance while focusing to achieve a better nash equilibrium state between security, scalability and decentralization.
Secure Proof of Stake: Minimal energy and computational requirements. Elrond eliminates the need for intensive PoW consensus algorithms and proposes a novel and more robust Secure Proof of Stake consensus, enhancing intra-shard communication and pruning the blockchain state to the most essential.
Decentralized: Increased security due to the randomly selected block proposer. Elrond introduces an improvement which adds security and reduces latency, allowing each node in the shard to determine the members of the consensus group (block proposer and validators) at the beginning of a round. This is possible because the last block’s aggregated signature is used as the randomization factor.
Communication: Decentralizing cross-blockchain operations. The Elrond Virtual Machine’s implementation will hide the underlying architecture isolating the smart contract developers from system internals ensuring a proper abstraction layer. In Elrond, cross chain interoperability can be implemented by using an adapter mechanism at the Virtual Machine level. This approach requires specialized adapters for each chain that is non EVM compatible and wants to operate with Elrond.
Token Sale & Economics
- Project website: https://www.elrond.network/
- Project whitepaper: https://elrond.com/files/Elrond_Whitepaper_EN.pdf
- Token sale start time: TBA
- Ticker: ERD
- Token type: ERC20
- Total hard cap: $4,750,000
- Total supply: 20,000,000,000 ERD
- Initial circulating supply: 30.79% of total supply
- Public sale token price: 1 ERD = $0.00065
- Public sale allocation: 25% of total supply
- Private sale token price: 1 ERD = $0.0005
- Private sale allocation: 15% of total supply
- Private sale vesting period: 10% at TGE. Then 30% every 3 months, vesting in 9 months
- Seed sale token price: No seed sales
- Seed sale allocation: No seed sales
- Seed sale vesting period: No seed sales
- Token distribution: TBA
Token Release Schedule
Token Allocation & Release Note
- Public Sale: 25% of total supply
- Private Sale: 15% of total supply
- Staking Rewards: 5% of total supply
- Future Round: 5% of total supply
- Maiar Rewards: 7% of total supply
- Grants/Accelerator: 4% of total supply
- Community: 2% of total supply
- Advisors: 3% of total supply
- Team: 19% of total supply
- Company Reserve: 15% of total supply
- Public Sale: No lockup
- Private sale: 10% at TGE. Then 30% every 3 months, vesting in 9 months
- Staking Rewards: 100% at TGE, but restricted to that for 1 year
- Future Round: These tokens will be released or sold to strategic investors/partners no earlier than 12 months after the TGE
- Maiar Rewards: 33% at TGE. 33% after 3 months. 34% after 6 months
- Grants/Accelerator: 33% at TGE. 33% after 3 months. 34% after 6 months
- Community: 33% at TGE. 33% after 3 months. 34% after 6 months
- Advisors: 100% unlock after 1 year
- Team: 10% after 6 months. 10% after 12 months. 30% in the second year, vesting every 6 months. 50% in the third year, vesting every 6 months
- Company Reserve: 33% at TGE. 67% every year, vesting in 3 years, starting 1 year after TGE
- According to Midgard Research review
Roadmap & Updates
- Oct 2017
- Technical works begin
- May 2018
- Technical Whitepaper 1.6
- Jul 2018
- Elrond Prototype
- Elrond Prototype opensource
- Nov 2018
- Technical Whitepaper 2.0
- Q1 2019
- Elrond Testnest ver 1.0
- Q2 2019
- Elrond VM
- Elrond Tesnest Audit
- Elrond Mainnet
Beniamin Mincu, CEO, Beniamin is an entrepreneur and early blockchain investor with more than 4 years experience with blockchain startups. He was previously part of the NEM core team, where he led the business, marketing and community efforts for 1,5 years, helping bootstrap the NEM blockchain from an idea to a global product. He has also invested and supported some 30 blockchain projects among which Icon, Matrix and Zilliqa. General Partner of Metachain Capital. Linkedin, Twitter.
Lucian Todea, COO, Lucian is a successful entrepreneur and active investor in startups and the blockchain space, with more than 15 years experience in tech businesses. He has lead one of the fastest growing startups in Europe and is a technology executive with significant operational, business development, general management, leadership and international experience. He is also CEO, founder and partner in several tech companies. Linkedin, Twitter,
Lucian Mincu, CIO, Lucian is a skilled infrastructure engineer, with 8 years experience spanning from developing end-to-end startup products, to designing and implementing highly technical yet comprehensive infrastructure and network solutions for large enterprise clients like the German State. He loves cutting edge technology, and has joined the blockchain space in 2016, where he co-founded Metachain Capital and ICO Market Data. Linkedin, Twitter.
Felix Crisan, Head of research, The intersection of payments, big data and distributed systems led him to Bitcoin and the blockchain industry where he Co-founded BTKO, Romania’s first Bitcoin exchange platform. Felix is currently the Co-founder and CTO of Netopia where he implemented market leading solutions for online and mobile payments. He has more than 20 years of working experience in IT and teaches BigData concepts and technologies, including Machine Learning and Artificial Intelligence algorithms. Bitcoin Lightning Network contributor. Linkedin, Twitter.
Radu Chis, Head of technology, Radu holds a PhD in Computer Science, his main research spanning over Advanced Computer Architecture, Design Space Exploration and Machine Learning. He has published several scientific papers in prestigious journals and international conferences. He participated in EU funded research projects and has over 10 years experience as a software engineer, deploying enterprise solutions for multiple sectors. Linkedin, Twitter,
Adrian Dobrita, Head of engineering, Adrian won 1st Place in a national Ai Multi-Agent Systems Competition. He holds a Bachelor’s degree in Computer Science and Master’s degree in Advanced Computing Systems. He is a software engineer with more than 10 years experience and skills in a wide range of programming languages. Adrian has worked for leading companies such as Intel, ST-Ericsson, Continental, developing industry-grade embedded software in areas such as mobile and automotive. He has also worked for several startups as back-end developer. Linkedin, Twitter.
Iulian Pascalau, Core developer, Iulian holds a Bachelor’s degree in Computer Science and has designed and implemented rugged, industrial-grade software for more than 10 years. He has extensive experience in C#, ASP.NET, ABAP, Python, SQL, interfacing PLC's, ERP systems (SAP and others) and is a passionate engineer with strong knowledge about IoT devices, network infrastructures, as well as analog and digital electronics. Linkedin, Twitter.
Sebastian Marian, Core developer, Sebastian is four times winner of the 3rd place in the prestigious global AI competition RoboCup. He is member of the RoboCup Executive Committee, and was previously member of the RoboCup Technical Committee. He has extensive experience in Multi-Agent Systems, Machine Learning and AI. He holds a Bachelor’s degree in Computer Science and is a software engineer with more than 18 years experience in a wide rage of languages and technologies. Linkedin, Twitter.
Mihai Dorian Stancu, Software engineer, Mihai is a Machine Learning PhD student with a creative mindset and a passion for optimization and AI. He has more than 10 years of experience in software engineering with focus on enhanced security, reliability and scalability. He has built enterprise software solutions and has provided his technical expertise to EESSI, a European IT system that helps social security institutions across the EU exchange information more rapidly and securely. He has a deep understanding of cryptography, blockchain architectures and algorithms. Linkedin.
Andrei Marinica, Software engineer, Andrei holds a BA in Computer science and an MA in Advanced Computing Systems. He brings to the team an impressive amount of know how from his experience formed at companies such as Microsoft, BOC Group and Qiagen. With an interest in mathematics and formal models he joins Elrond as a valuable member of the team driven to create a safe, open and scalable platform. Linkedin.
Robert Sasu, Software engineer, Robert holds a BA in Software Engineering and a MA of Engineering in Graphics, Multimedia and Virtual Reality. In the early days as a programmer he was three times Google Summer of Code Student. In the past few years he developed complex algorithms for the Advanced Driver Assistance Systems of Continental. He applied for more than 20 patents in the autonomous car industry and co-founded an eMobility start-up which won an international competition. Linkedin.
Camil Ioan Bancioiu, Researcher, Camil holds a Bachelor’s degree in Computer Science, a Master’s degree in Advanced Computing Systems and is currently working on his PhD in Machine Learning. He is very enthusiastic about theoretical Computer Science and has accumulated more than 10 years of experience as a software engineer in Scotland, Romania and Germany, before becoming a freelancer engineer and consultant.
Beniamin Drasovean, Software engineer, Beniamin is a junior software developer part of Elrond team currently as an intern. He is enrolled in a 4 years Bachelors Computer Science programme. Being fascinated by blockchain technology he joins the team to learn more and become an expert in the field. He is dedicated to Elrond’s mission in creating a scalable value transfer protocol for the digital economy. Linkedin.
Dan Voicu, Head of communication, Dan has a Bachelor’s degree in Politics, and a Master’s degree in International Business Administration. He has strong communication skills and is especially focused on authentic community building. He believes firmly that decentralization is a very compelling means of changing the status quo. Linkedin, Twitter.
Daniel Serb, Head of marketing, PR, Daniel holds a Bachelor degree in Politics and International Relations. He worked for leading companies such as Frank Recruitment Group based in the UK, where he was responsible for building the company’s influence on the Nordic market. At Continental AG he focused on recruitment and employer branding creating innovative marketing strategies. Throughout the years he developed skills in Software and IT recruitment, employer branding, social media and marketing. Linkedin, Twitter.
Larisa Oltean, UI/UX designer, Larisa holds a Master’s degree in Design. Her extensive experience as a freelancer helps her understand complex requirements and then come up with simple and logical solutions. At Elrond she is focused on translating complex user stories into clear and intuitive design. Linkedin, Twitter.
Alex Iskold, Business advisor, New York based entrepreneur and investor. Managing Director at Techstars NYC. Alex was founder/CEO at GetGlue, founder/CEO of Information Laboratory, Chief Architect at DataSynapse. Award winner and seasoned investor with presence in over 90 startups. In addition to being serial entrepreneur, Alex also wrote hundreds of articles on ReadWriteWeb, and taught an award-winning undergraduate software engineering class at New York University. Linkedin, Twitter.
Alex Tabarrok, Economics advisor, Professor of economics at George Mason University. He holds the Bartley J. Madden Chair in Economics at the Mercatus Center. Co-founder of Marginal Revolution University: An Online Platform for Learning Economics. Alex is the author of numerous academic papers in the fields of law and economics, criminology, regulatory policy, voting theory and other areas in political economy. He is co-author of Modern Principles of Economics and co-author of the Marginal Revolution economics blog. Twitter.
Raul Jordan, Technical advisor, Ethereum core developer. He is Co-Leading Prysmatic Labs, the first Sharding Implementation for the Ethereum Protocol. He is a partner at zk Capital, a research-focused blockchain investment fund. In 2014, Raul Co-Founded Kynplex the first ever network of its kind in the life sciences that brings together hubs of scientific innovation online. Thiel Fellow '16. Harvard dropout. Linkedin, Twitter.
Grigore Rosu, Technical advisor, Grigore Roșu is a computer science professor at the University of Illinois at Urbana-Champaign (UIUC), where he leads the Formal Systems Laboratory (FSL). Previously, he was a scientist at NASA, where he coined the term runtime verification with his colleagues. He is interested in programming languages, formal methods and software engineering, and especially in how to combine these to increase the safety, security and dependability of computing systems. Grigore got his Ph.D. from the University of California at San Diego. Linkedin, Twitter.
Fabio C. Canesin, Technical advisor, Co-Founder of City of Zion and NEX, he holds a MSc in computational mechanics and variational multi-scale modeling, and is a researcher engineer in the petroleum industry. Fabio has developed software in several large projects that have had deployed impact on billions of dollars of assets. He is also Co-founder and CTO of Lemonaid Learning Analytics. Linkedin, Twitter.
Ethan Fast, Technical advisor, CS PhD from Stanford, Co-Founder of City of Zion and NEX. Creator of Neon wallet. Ethan is an entrepreneur and research scientist with a background in HCI, AI, and blockchain. He has led more than 10 projects to publication in top venues such as CHI, UIST, EMNLP, and AAAI, where they have won multiple awards. In May 2011, Ethan founded a Y Combinator funded startup, Proxino. Linkedin, Twitter.
Andrei Pitis, Business advisor, VP of Engineering and Head of Bucharest Office at Fitbit. Founder and CEO at Vector Watch. Angel Investor with several tech leadership positions. He serves on board of ANIS – the most active Romanian software association and co-founded Tech Angels and Innovation Labs. From 1995 to 2015 he was an Associate Professor at Politehnica University of Bucharest. Linkedin.
Nash, (formerly known as NEX) is a decentralized finance platform made for exchanging digital assets, interaction with cryptocurrency wallets, and browser-based blockchain-powered web-app development. Nash also introduced the world’s first fully regulatory compliant exchange security token.
NETOPIA is the biggest electronic payment processor in Romania, expecting to process in 2018 more than 13 million digital transactions with a total value of around $400 Million.
|Immediate Finality||Yes-immediate finality||No-60min (6 confirmations)||No-6min (25 confirmations)||Yes-immediate finality||No-10sec (2 confirmations)||Yes-immediate finality|
Kadena delivers the next generation of blockchain platforms for businesses and entrepreneurs by solving the scalability & security concerns that impede widespread blockchain adoption. They offer simple solutions & tools for developing on a blockchain, including a purpose-built smart contract language, Pact; the first high-performance, BFT-consensus, private distributed ledger protocol; and Chainweb, a fundamental breakthrough in proof of work scaling for a public blockchain. Kadena's founders have proven experience creating and building software systems for the financial industry and government including for JPMorgan Chase Bank and the U.S. Securities and Exchange Commission.
MultiVAC is a next-generation high-performance public blockchain for industrial-scale decentralized applications. Its trusted sharding technology allows for unlimited and sustainable scalability, and it provides a novel approach towards solving the blockchain scalability problem currently preventing mainsteam blockchains from reaching industrial capability.
QuarkChain is a decentralized blockchain that is also permission-less and secure, but most importantly it is scalable. The QuarkChain team has as one of its major goals to utilize sharding technology and deliver in excess of 1 million transactions per second. It is looking to become the blockchain for high capacity throughput, delivering a solution that is secure and fast enough for widely used decentralized applications (dApps).
- Startups are built on secrets. New truths cannot be discovered by convention. We’ve shared some of our secrets in… https://t.co/bWRhULIWbz
- Happy 🍕#BitcoinPizzaDay 🍕everyone! #elrond #team https://t.co/42DS1rzb36
- Friday quote: 📖 @Oxsy_Sibiu #elrond #team https://t.co/yFmKtiC0uh
- By layering the data trade of IoT devices upon @ElrondNetwork, IoT devices will be able to abide under the terms o… https://t.co/PCrjVCi2hQ
- RT @TechBullion: TechBullion Exclusive Interview with Beniamin Mincu, CEO of Elrond. @elrondnetwork https://t.co/FvQiLB8uah
- You already know how blockchains look without scalabilty - now imagine one that is decentralized and can truly scal… https://t.co/nVPpFGL6Uk
- The NY Consensus event is starting today and the ELROND team is already there. Feel free to contact us if you want… https://t.co/ns8Cdx0wgO
- RT @SasuRobert: Any document saved on an immutable ledger, with valudated state transition will be safe forever. @ElrondNetwork https://t.c…