About Elrond
Elrond is a blockchain platform that is highly scalable, cost-effective, fast, and secure. This high scalability is achieved by a technology called ‘Adaptive State Sharding’, in which multiple sharding types are combined to drastically increase performance and efficiency.
The border to what’s possible is no longer technical.
It’s time to build. https://t.co/PRd4df0E5x
— Elrond ⚡️ (@ElrondNetwork) November 20, 2020
Security is granted by a Proof of Stake (PoS) consensus algorithm, an energy-efficient solution compared to the relatively environmentally-unfriendly Proof of Work (PoW) alternative.
Elrond VM (VirtualMachine) enables developers to build apps in multiple programming languages, which, in itself, can be a significant advantage over other platforms when attracting users.
About the EGLD token
EGLD is the native token of the Elrond network - it’s primarily used as medium of exchange between Users and Validators, and is the token which validators need to stake to fulfil their roles.
Interestingly, you don’t have to be a Validator to stake EGLD. The Genesis staking, which will lead to the final launch of the Elrond Mainnet, is currently ongoing. All EGLD holders are incentivised to stake (delegate) their tokens during this process. According to Elrond’s official website, as a delegator, it is possible to earn interest based on the amount of EGLD staked.
Recent news
In Q1 of 2021, Elrond launched Maiar, a global payments and digital wallet app for sending and receiving money worldwide, using only a phone number or a unique username, a “herotag”.
Maiar is available to download for free in all countries, except in those with applicable regulations concerning cryptocurrencies. The app supports Elrond (EGLD), Binance (BNB) and Ethereum (ETH).
Win your part of the €10,000 reward in EGLD!
To celebrate the listing of EGLD on Bitpanda, make sure you don’t miss our EGLD trading competition: it starts at 12:00 PM CET on the 2nd of June, 2021 and ends at 11:59 AM CET on the 9th of June, 2021. Ready to win? Here are the prizes:
Prize 1: €1,000 worth of EGLD for the trader in 1st place
The trader ranked in first place with the highest total amount of EGLD purchased will receive €1,000 in EGLD!
Prize 2: €750 worth of EGLD for each trader ranked 2nd to 5th place
The traders ranked between 2nd to 5th place with the highest total amount of EGLD purchased will each receive €750 in EGLD!
Prize 3: €500 worth of EGLD for each trader ranked 6th to 10th place
The traders ranked between 6th to 10th with the highest total amount of EGLD purchased will each receive €500 in EGLD!
Prize 4: €350 worth of EGLD for each trader ranked 11th to 20th place
The traders ranked 11th to 20th with the highest total amount of EGLD purchased will each receive €350 in EGLD!
Prize 5: €200 worth of Bitcoin for 50 randomly selected traders
As a bonus prize, 50 traders (outside of the 20 winners from the prizes listed above) who are not residents of the Republic of Turkey, who are BEST VIP level 1 and above and who trade any amount of EGLD will be randomly selected to receive €200 worth of Bitcoin each!
Please note that the exclusion of the residents of the Republic of Turkey from being selected as VIP-Winners is based solely on the legal requirements of the Republic of Turkey. The value of Elrond (EGLD) for the calculation of the prize fund is pegged to its exchange rate as of 25th of March 2021; the respective conversion rate in use will be 1 EGLD = EUR 103.55.
Best of luck to everybody - trade EGLD now !
You can read the terms and conditions here and we will credit the winners within one week after the competition has ended. Prizes will be credited to the respective Bitpanda wallets.
