The blockchains that offer lower fees, faster speeds, and more security are the ones that will take off. The Elrond protocol is a blockchain that uses sharding to enable rapid transaction speeds. As they explain themselves, they are the new internet’s ecology. They are the platform for decentralized finances, Fintech, and the Internet of Things. Their smart contracts, according to a report, can do 15,000 transactions per second for a cost of $0.001. Elrond (EGLD) was announced in August of 2019, and its mainnet launched in July of the following year.
How is Elrond (EGLD) Different?
There are nearly 2,169 validators in the Elrond ecosystem. The validators are divided into four shards. Execution shards are three, and Metachain is one. The execution shards can handle 5,400 transactions per second and maybe ramp up if demand increases.
Elrond is offering developers incentives to encourage adoption by paying them 30% of the smart contract price.
Price Movement Elrond
Before the crash in July, Egld was being traded at the price of $245. It later fell down to the price of $53.41. It quickly moved upwards and created a new ATH around the price of $544 in November. At the time of writing this article, The Elrond (EGLD) is being traded at a price of $264.92. The price has almost decreased by 21% today. On the monthly time frame, we have seen a decrease of almost 30%. It is still very far away from its ATH.
The Total volume at the moment is $613,928,422 with an increase of 52.88% in the past 24 hours. The coin is listed on coinmarketcap on the 29th spot and has a market dominance of about 0.24%.
Egld has a finite supply, with a starting point of 20 million tokens, and additional tokens are created to reward validators.
Price Prediction – Elrond (EGLD)
In the long run, It is a highly good opportunity. According to the wallet investor, the price of EGLD is to reach a value of $559.20 in a year. For a five-year plan, the price will reach a value of $1770. The way the price of Egld has grown, the traders are even more bullish on the value and they think that it will reach even more.
