Elrond Network

Through an architecture that relies on Adaptive State Sharding, we achieve practical scalability thanks to the processing capacity of the system that increases proportionally with the number of participants.

Preliminary tests and simulations show that Elrond brings a three-orders-of-magnitude or 1000x improvement in throughput and processing capacity compared to Bitcoin or Ethereum, effectively out-scaling Visa, as our number one centralized counterpart.

Special features

Security through multi signing - This scaling technique can be used in blockchains to partition states and transaction processing, so that each node would process only a fraction of all transactions in parallel with other nodes. As long as there is a sufficient number of nodes verifying each transaction so that the system maintains high reliability and security, then splitting a blockchain into shards will allow it to process many transactions in parallel, and thus greatly improving transaction throughput and efficiency. Sharding promises to increase the throughput as the mining network expands, a property that is referred to as horizontal scaling
Randomness source - Each node from the list E can be selected as part of j an optimally dimensioned consensus group, by a deterministic function, based on last block’s aggregated signature, the round r and a set of variation parameters. The random number, known to all shard nodes through gos-sip, cannot be predicted before the block is actually signed by the previous consensus group. This property makes it a good source of randomness and prevents highly adaptive malicious attacks. We define a selection function to return the set of chosen nodes
Performance - Sharding approach shows a linearly increasing throughput.
Shard storage pruning - To reduce storage requirements and bootstrapping time.

Technical information

Elrond’s dynamically adaptive sharding mechanism enables shard computation and reorganizing based on necessity and the number of active network nodes. The reassignment of nodes in the shards is progressive and nondeterministic, inducing no temporary liveness penalties. For additional security, Elrond randomly samples a new consensus group at the beginning of every round. Furthermore, Elrond refines its consensus mechanism by adding an additional weight factor called rating and uses the Bellare and Neven (BN) multisignature scheme. Lastly, Elrond considers formal verification for the critical protocol implementations (e.g. SPoS consensus mechanism) in order to validate the correctness of our algorithms.

Team

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For more information, please visit us:

Twitter: https://twitter.com/elrondnetwork
Official website: https://www.elrond.com
Elrond Github: https://github.com/ElrondNetwork
Whitepaper: https://elrond.com/files/Elrond_Whitepaper_EN.pdf