Bitcoin is the first iteration of blockchain technology, and the first cryptocurrency created. They proved that blockchain technology can work as a value transfer. But it is difficult, costly, time-consuming and it can only process around 5-7 transactions per second. The second one was Ethereum which made some improvements and can process around 15 transactions per second and added smart contracts to the blockchain, which are game-changing.
Elrond is now the next step in evolution. Elrond is the blockchain that adds 1000x improvement in both execution speed and transaction costs.
Elrond is the internet-scale blockchain that was designed from scratch for immense scalability and significant transaction throughput gratefulness to its adaptive state sharding system, which facilitates transactions to be handled immediately by multiple validators.
Elrond’s technology is called adaptive state sharding which enables parallel transaction processing. Each shard can process up to 5000 transactions/second meaning that whatever requirements for the network might be now or in the future, you can easily add more shards making the possible capability in theory, infinite.
While Bitcoin can handle merely a maximum of seven transactions per second, Elrond can handle 15,000 transactions per second with 6-seconds latency and negligible costs. If demand grows, even more, the Elrond network has the ability to scale into hundreds of thousands of transactions per second, striving to become the backbone of a permissionless, borderless, globally accessible internet economy.
Elrond has placed itself as an ideal blockchain for(decentralized finance) developers to use for their apps, as well as for other kinds of (decentralized apps).
What is eGold?
The eGold currency is designed for simplicity and global adoption and is the native Elron token.
The chosen name is not random, it’s a metaphor chosen specifically to understand from the first glance that the digital currency shares gold’s characteristics but it also takes it to a whole new level.
The main idea of eGold is simple, powerful, and very sustainable.
eGold is designed to optimize parameters that lend themselves to creating a robust store of value, similar to gold, but with the functionality and mechanics of the modern world that will go far beyond those of gold.
Initial eGold at Genesis was only 20 million with a total theoretical max supply of 31,4 million tokens that can be reached in 10 years from now on. This means there is a very limited supply of eGold relative to 8 billion people worldwide. Owning a few thousand eGold now could be like owning a few thousand Bitcoin 10 years ago.
eGold offers strong staking incentives for validators to secure the network, paired at the same time with a max supply limit.
The Elrond Network offers one of the strongest adoption models in the blockchain system because of the network being able to immediately transition to a fully deflationary model via any adoption scenario.
Maiar is Elrond’s application where the interaction starts with just one simple requirement trivial in today’s world: Having a smartphone connected to the internet and a phone number, running on either Android or iOS. Once you download the wallet, you can get started straight away. Since it’s a non-custodial wallet, no verification is required in any country. That’s all.
As Elrond strives for mass adoption, the technology that it uses has to be simple and bring value to its adopters. Maiar is the app that allows users to access a global digital decentralized economic system where the only requirements are a smartphone connected to the internet and a phone number.
This allows you to send and receive money almost instantly with very low fees and costs. No more need to use banks’ centralized systems that are both time-consuming and very costly. And this is only the beginning, more functionalities will be added in the future.
Beniamin Mincu, the Elrond CEO said:
“Billions of people are able to send direct messages to their contacts because it’s convenient, intuitive, and inexpensive. Maiar and the Elrond blockchain now offer them the same experience when it comes to sending money
Why did I choose to invest in eGold?
- I missed the Bitcoin train a long time ago, I hesitated to invest my savings years ago when it was about $300-$400 per coin. But now I feel like I have a second chance, an even better one.
eGold even has attributes that Bitcoin does not, like the scalability component -> eGLD can be used as a medium of exchange at scale while BTC cannot.
- Other projects like Ethereum, Ripple while they have better technology than Bitcoin, but are not so user-friendly and can be hard to be mass-adopted because of this. Elrond (eGold) understands that mass adoption can be achieved only when technology is easy and simple for average users. They are doing this with Maiar, and I don’t see any other project caring as much to be user-friendly as Elrond and Maiar do.
If you were to choose one project, with the most chances of becoming a big success because they thought of everything in advance and all the pieces of the puzzle fit and work, what would be that project?
The answer to the above question, without a shadow of a doubt, would be Elrond, eGLD.
Of course, there will be other important projects in the economic ecosystem, but today none is better prepared and positioned like the Elrond Network. Governments really screwed the world’s monetary system due to their corruption and ignorance and Elrond (eGold) is fixing it.
A snowball about to transform into an avalanche
Elrond network, Maiar, and eGold are each valuable separately, but when put together, they can reinvent the whole economic system.
10 years ago, Bitcoin was a worthy attempt to create a digital currency, but it has limited transaction bandwidth and terrible user experience. eGold is designed to be a robust programmable store of value, build on top of an internet-scale blockchain, make globally accessible to everyone almost in the world with the help of the simple and powerful Maiar app.
Get your eGold before it spread everywhere. Be one of the early adopters, don’t miss the train as it happened for many of us with Bitcoin!
How to buy eGold?
The easiest way to buy eGold now is through the Maiar app. If you use our referral link and buy at least $200 worth of eGold you will get $10 cashback.
If you prefer another option, you can buy it directly by opening an account with a cryptocurrency trading platform that supports eGold, such as Binance or eToro. No matter which one you will use, you’ll need to verify your account via the KYC procedure for tax purposes. Using the Maiar app does not have such requirements as it’s your own decentralized virtual wallet.