ELROND Network, $eGLD: Explained


Blockchain in simple terms

Cryptocurrencies — Brief overview. Understanding context

  1. Using the blockchain technology for the supply chains. Which is very smart. I worked in the logistics industry for years, import & export, organize shipments and so on. And basically, you have goods that are owned by one party that needs to be shipped in a different location and at the end of it, the ownership of the goods is exchanged after payment. So using a blockchain to track the goods from origin to destination, keeping records of who owns what and settling the transaction instantly on a blockchain will reduce the time spent and costs IMMENSELY. So there’s value in that.
  2. Using the blockchain technology for cloud storage. It’s obvious that more and more businesses are going digital or at least have a digital component. And when the name of the game is data, you have to think where will that data be stored. And one of the best options is cloud storage particularly because it gives you access to all of your data from anywhere instantly. And so the business model for this kind of projects is that users “rent” out the unutilised space from their hard drives to earn money and the client’s data is encrypted and stored across many hard drives across the world. For the project’s client it may be a cheaper option than a “traditional” company focused on cloud storage, the projects gets a fee and the users get paid for unutilized space on their hard drives. It’s kind of an Airbnb for digital data if you will.

Elrond Network

Step 1: Infrastructure.

  1. Each shard processes approximately 5000 transactions/second meaning that whatever the requirements for the network might be today or in the future, you can simply add more shards making the potential capability in theory, infinite.
  • Simplify the abstract.
  • Expand the number of languages available to developers.
  • 30% royalties of the fees collected by the smart contract go directly to the developer.
  • Whatever custom token you create for the project you build, will have the same speed and scalability as the native $eGLD token. How? Well for that they created the Elrond Standard Digital Token — ESDT. More details here.

My reasoning for investing in $eGLD:

  • If I were to invest in Bitcoin, $BTC because of its scarcity, well Elrond, $eGLD has a similar built-in scarcity. But also, it has something that $BTC does not, which is the scalability component -> $eGLD can be used as a medium of exchange at scale. $BTC cannot.
  • If I were to invest in Ethereum, $ETH because of its capability of being a platform for other projects to build on, well we would have to talk about Ethereum 2.0 but that won’t be a reality for years. Elrond, $eGLD has that capability today.
  • Apart from Elrond, $eGLD that understands that true adoption comes when the technology is easy and simple to interact with, which they are focusing on with Maiar, I don’t see any other project even caring about being user friendly. In a way, it’s understandable because they have to first nail down the technology side of things.
  • Are you a developer? Do you want to start building? Go ahead. The wait is over.
  • An ecosystem of dApps (Decentralized Apps) will be created on Elrond. But it helps a lot if you can bring them in front of users in a user-friendly interface such as Maiar.
  • Searching for solutions to very important problems is a + in my book.
  • I don’t remember seeing any team that works as hard as they do.
  • By pure coincidence, it just so happens that just as the majority of the Elrond’s team, I am from Romania as well and I know more about some of the people around Elrond either as advisers or in different capacities and I can tell you that they had remarkable successes across different industries and particularly technology.
  • Binance $BUSD stable coin will run on Elrond’s Mainnet.
  • They are extraordinary at marketing. And it matters a lot because I know and I am sure you do too, a lot of products and services that are great but nobody ever heard of them. Why do you think that Apple, Nike, Coca-Cola but even companies such as Facebook which has literally billions of users, advertise continuously? It’s not enough to be great, people need to know about you.
  • I am not even going to speculate about what kind of potential collaboration could be between Elrond huge companies such as Samsung and others with whom they worked before and you know, the contacts are in place.


Final thoughts



Never stop learning. Never stop. Never say “never”.

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