Elrond (EGLD) is a highly scalable blockchain that is popular for its speed and security. This network is widely used to develop business projects and decentralized finance (DeFi) applications. Elrond (EGLD) is a player in the new Internet economy.
Elrond, a scalable blockchain to develop DeFi
According a tweet by Anna Everstake on August 4, Elrond (EGLD) is a blockchain “ scalable, fast and secure“. This ecosystem is fully adapted for the development of decentralized applications with smart contracts . You should know that the network offers several opportunities. For example, it offers simple addresses instead of complex and long characters offered by other networks.
On Elrond, each user has the possibility to issue their own tokens, Elrond Standard Digital Token (ESDT). ESDT therefore represents the standard digital token of the Elrond network. Its users can make token transfers using a broadcast and speed protocol. Note that with this ecosystem, you can issue and store tokens directly in smart accounts.
You should know that this network includes several fragments. There are mostly 3 transaction fragments and 1 meta-chain fragment. That said, it offers smart contractsupdatable and portable. This is possible thanks to the architecture based on the Adaptive State Sharding of the network.
This architecture makes it possible to merge and separate fragments of blocks, to a more adaptive blockchain. Additionally, Elrond has a virtual machine called Elrond VM which is very reliable for runningsmart contracts. The virtual machine allows these contracts to be written in different languages.
The Elrond blockchain (EGLD) is reliable and adaptive, which makes it, in part, perfect for developing decentralized finance (DeFi) applications. Additionally, the network is seeing some interesting activity, with an estimated 24-hour trading volume of over $59 million.
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