Elrond (ERD) believes he has what it takes to beat the giants of the proof-of-stake (PoS) world.
This Romanian PoS blockchain raised $ 3.25 million in a first exchange offer (IEO) in July 2019. Elrond CEO Beniamin Mincu told Cointelegraph that the IEO process in Binance was a very difficult thing. However, he said that through perseverance, the project had been able to raise the necessary funds and achieve significant commitment.
Ethereum 2.0 – earlier than expected
Elrond’s technology stack reads very similarly as expected for Ethereum (ETH) 2.0: Sharding, Secure PoS, a virtual machine; Mincu, however, made a number of distinctions between the two:
“It’s similar. The main difference is that Ethereum will try to start this in two years if Elrond starts it immediately. We have all the technology ready. Everything is working. We can currently process 10,000,000 transactions per second . “
Elrond claims to have better architecture than other PoS blockchains
When asked how Elrond wants to compete with much larger PoS projects like Cardano (ADA), EOS (EOS) and Algorand (ALGO), Mincu said:
“I think Elrond has a much more efficient architecture than anyone else. So we hit them in every way that can be measured. Second, from a resource reward perspective for PoS architectures, we have a more competitive reward system for validators. “
Mincu believes that one of the keys to success in this area is the user experience, and says that Elrond has a great advantage there. Not only to be successful against other blockchains, but also to take the adoption to the next level.