You can now receive, hold, swap, and tip EGLD tokens via Cwallet.
IN LETTER,
· About Elrond
· EGLD Token Details
· Cwallet features you can use with EGLD: Receive, Hold, Tip, Play-To-Earn, and Airdrop.
The Cwallet Team has successfully completed the integration of the Elrond network to Cwallet. Users can now swap, hold, tip, airdrop, and play games with EGLD tokens.
We believe that adding Elrond to the Cwallet will allow users to benefit from Elrond’s fast, cheap and scalable ecosystem, enjoying optimal user experience and ROI from EGLD holdings.
What is Elrond?
Elrond seeks to solve the scalability trilemma in blockchain technology; it is a blockchain protocol that seeks to achieve exceptional decentralization and speed without compromising decentralization. It aims to rival major blockchains like Ethereum by allowing the development of dApps and crypto assets that will benefit from its speed, cheapness, and security.
To achieve optimal scalability, Elrond employs the sharding technique, allowing the network to reduce data on the primary blockchain, enabling it to achieve 15,000 TPS, six-second latency, and less than a cent in transaction costs. Elrond aims to outperform existing Proof-of-Work ecosystems like Bitcoin and Ethereum with exceptional speed and cheap costs.
Elrond is currently upgrading its mainnet to further improve scalability, reduce transaction costs and improve efficiency, enabling the network to be fully compatible with NFT and Web 3.0 protocols.
Elrond Core Features
· Adaptive State Sharding: Adaptive sharding combines the three main types of sharding to distribute data across several shards.
Ø State Sharding: This approach splits the history of the entire network across different shards with individual ledgers. Hence, nodes only need to communicate with the shards they are connected to, enabling parallel processing of transactions on the entire network.
Ø Transaction Sharding: This approach assigns different transactions to different shards where they will be processed, enabling parallel and speedy transaction processing.
Ø Network Sharding: This helps to group nodes into different shards for quicker communication and better security. It is easier to maintain network security if one shard is compromised, rather than the entire network; communicating with different shards is also faster than propagating the same information across a full network.
Elrond combines all three techniques to ensure that its network is highly scalable without compromising security. Different transactions are verified in different shards, and the main network only needs to process a fraction of all transactions; hence, despite supporting parallel transactions, double spending is avoided.
· Secure Proof of Stake (SPoS): Like other Proof of Stake mechanisms, the SPoS consensus aims to avoid energy wastage common with the PoW consensus while assuring optimal security. Again, like other PoS systems, SPoS selects validator nodes based on their EGLD stakes; however, SPoS system also takes individual rating scores into account, which is a measure of validators’ past behavior. This helps to ensure that validators maintain high fidelity, since lower scores will likely be ignored even if they have huge EGLD stakes.
At the beginning of each validation round, SPoS randomly picks some of the selected validators to form a consensus; one of these validators is elected as the Block Proposer, who produces the block for the other consensus validators to sign.
The current block proposer’s signature will also approve the election of a new set of consensus validators based on random metrics. As a result, consensus validators aren’t known in advance, making it difficult for malicious attackers to penetrate the network. Hence, the Elrond network confirms transactions in record time, while maintaining high security.
· Elrond Virtual Machine: Elrond’s virtual machine is built on WebAssembly (WASM). This makes it possible for developers to build dApps using smart contracts written in any programming language that can be compiled to WASM bytecode. As a result, developers aren’t restricted while building Elrond-compatible dApps, since they can write in popular programming languages like C/C++, C#, Go, Rust, Typescript, and many others.
Elrond (EGLD) Token Information Sheet
EGLD Token Use case
EGLD is used in Governance, i.e., voting on network upgrades via staking. It is also used to reward validators and payment of transaction fees on the Elrond network.
EGLD Community
Where to Get EGLD Tokens
You can purchase EGLD tokens from;
CEXs: Binance, Gate.io, Kucoin, Bithumb, Bitfinex, Huobi, etc.
DEXs: Pancakeswap, Maiar DEX
Easily send, receive, hold or swap EGLD Tokens on Cwallet:
You can quickly deposit, withdraw, or swap EGLD tokens using the Cwallet at the lowest possible fees.
Learn more on sending/ receiving and swapping tokens!
Cwallet offers the lowest cross-chain transaction fees:
You can swap EGLD tokens between 200+ cryptocurrencies present on Cwallet. Whether performing a cross-chain swap or an “on-chain swap,” Cwallet offers the lowest possible transaction fees. You can swap various currencies within your wallet for absolutely free!
EGLD Token Price
Cwallet updates its price charts in real-time, so you can find live updates on the EGLD token via Cwallet.
Get a free instant wallet now.
Cwallet offers the easiest ways to send Tips and Airdrops to your friends or community members using Cwallet Bot via multiple social platforms like Twitter, Discord, and Telegram.
If you want to airdrop EGLD tokens with a touch of fun and thrill, you should immediately explore Cwallet’s Airdrop Game, where you create one-of-a-kind free games! A new way to airdrop where you play to earn free crypto!
Now send EGLD or choose from 500+ tokens to Tip, Airdrop, or play games with your community!
Check out details on tipping instructions on Twitter, Discord and Telegram.
Create exclusive #EGLD Community with Cwallet DAO:
A group with all true EGLD fans can be regulated using the Cwallet DAO. It allows you to set a minimum of EGLD tokens required for a new member to join the telegram/discord group. It is a beneficial tool for crypto start-ups and tokenized communities to engage with their target audience and grow their community.
Think of it as an exclusive group accepting the EGLD community by simply verifying their crypto assets!
Closing Thoughts
We hope you have gained insights and information on our newly listed network — Elrond (EGLD), and how you can seamlessly use it with Cwallet services!
Remember that you can receive, hold, tip, or swap EGLD tokens on Cwallet.
Now grow your community efficiently and quickly by exploring the various top features offered by Cwallet! Create an instant account now and enjoy cheap transaction fees with many features!
If you have any questions or comments, please leave a comment or join our community for more discussions, tips, and airdrops.
