Here is a detailed explanation of differences between Zilliqa and Elrond: Elrond does horizontal scaling with State Sharding, while Zilliqa only does network and transaction sharding. Zilliqa tries to solve scalability by addressing half of the problem, and that is by doing network and transaction sharding - so it improves somewhat the scalability and the network can process about 2500 TPS (2828 TPS with 3600 nodes). The network sharding is not optimal however as all the shards still need to synchronize the entire state of the system leading to communication overhead. It does not solve the hardest part of the problem which is state sharding. Having no State Sharding basically means for Zilliqa that every node in the network has to store the entire state of the blockchain. In very high throughput blockchains the storage requirements grow very fast. A validator needs some special hardware to keep up with this kind of demand. Elrond solves the storage problems, by also sharding state, so that every node in the network has to store just a part of the entire state, the one corresponding for its shard. Zilliqa still uses PoW in order to prevent Sybil attacks, while Elrond uses PoS, a much more energy-efficient way to prevent Sybil attacks. Ziliqa PoW validator is required to have special hardware to run a node and it only runs in Ubuntu OS. Elrond validator has low system requirements and runs on Windows, Linux and Mac as well. Zilliqa stores all the Smart Contracts in a single shard, while Elrond will distribute Smart Contracts among all shards in order to be able to parallelize Smart Contract execution. More comparisons can be found here: https://docs.elrond.com/detalied-comparative-analysis/elrond-vs.-zilliqaIs the sharding tech already implemented?
Yes, you can check the testnet running live and exceeding 10k TPS with only 5 shards: testnet.elrond.com Mod note: merged multiple posts in a row into one |
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Another tough step would be the expansion in other countries. Good luck!
We are already working on that and have some relevant things to update on as soon as conclusions are reached. In any case, this is one of the main priorities beyond shipping as fast as possible. |
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Maybe your project is promising. But it will be very difficult for you to conduct competitive activities in a crowded market with the same projects. You will need a large infusion of funds into advertising, a large infusion of funds into developers. It's complicated. But I will monitor your progress.
Agree with all your points. The most important advantage we have is that our technology is very compelling once released. In a market full of empty promises, shipping what we proposed will be an extraordinary feat. We are very close to doing that already. The funds we will gather will be used to speed up and expand our global presence, but momentum is growing steadily. If dapps would have a platofrm offering a 1000x improvement in fundamental architecture efficiency today, most of them would migrate instantly. Still we recognize distribution is also critical for elrond to truly take off. That's why we're working hard on relevant partnerships that will add real utility to our ecosystem. We will continue to announce some of them which are quite exciting. One more thing: there is also a surprise product we are working on, adding a significant edge to our distribution strategy. But more on that later  |
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New medium post just out: Is Ethereum 2.0 overlooking communication costs? "While reviewing Ethereum 2.0’s available documentation, some unaddressed issues and limitations became obvious. This article examines Serenity’s design rationale, highlights some of the identified issues, offers solutions, and in the end contrasts them with our approach at Elrond." |
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I know it's a bit late, but I've just read about this on another newspaper and I have some questions: 1. Netopia already offers Bitcoin payment at a couple of online stores (PC Garage, evoMag, ..) but they are not that many. Will ERD payment be available at a bigger number of online stores? 2. Netopia has quite a fee for Bitcoin payments (inflated price when seen in Bitcoin). Will indeed be no fee for ERD, or I've misunderstood something? 3. Will ERD be available on a bigger number of exchanges? 4. When is all this payment thing planned to go live? Good questions. Here is the most important part of the announcement highlighted: "Elrond and NETOPIA aim to jointly explore the potential of integrating Elrond’s token, ERD, into the NETOPIA payment platform allowing their merchants to offer on their turn to their users and clients the possibility to acquire products and services through ERD tokens as well. This will also mean that 6,000+ merchants who are using the NETOPIA solutions will be able to accept ERD cryptocurrency overnight, with no development or operational costs on their part." For reference about Netopia: "NETOPIA is the biggest electronic payment processor in Romania, expecting to process in 2018 more than 13 million digital transactions with a total value of around $400 Million." So to answer your questions: 1. This partnership will bring over 6000 online stores where Elrond will be accepted. Lots of other stores and means of using Elrond will come to add on this and will be announced as we advance. 2. There will not be any fee on the development or integration side for the merchants accepting Elrond. I suspect the standard fee will apply for Elrond at first. 3. Definitely. We are already working on this, and will make announcements as conclude discussions with some of the exchanges. The important part is for us to launch the tech, listings will come with that. 4. Payment utility should go live as soon as we launch the token. We expect this to happen sometime in Q1 2019. We're working hard to reach these targets. |
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Hello there, I like your project and would like to get in contact.
Meanwhile I have some questions and hope that you can clear them out for me.
In regard to your Testnet, do you have an estimated time for launch? and what is the desired number of nodes to be achieved in order to show(case) Elrond’s potential for scalability? How many coins are needed for staking? Do you have any documents for testnet? Details on token distribution?
Again, great job, looking forward to seeing more about this project's development.
Glad to have you here. Q1: Our internal target is that the testnet should be launched sometime around Christmas but there's still lots of work to be done. Q2: In our prototype, we have run tests with 200 nodes, so in the testnet we intend to scale this considerably. However, we'll have to see how this works in the first release, or if we'll do this only with the second release. Q3: The precise number has not been decided yet, but we will probably post some of the simulations around the testnet launch to receive some feedback on them. Q4: Do you mean technical documentation? Q5: We are discussing some really interesting ideas and should also post some notes on this around the testnet launch. The idea is to create a wider distribution, departing a bit from the simple ICO distribution, to create a way for real supporters to join during the bootstrapping phase even without investing direct money. This will most likely be a combination of several distribution methods. |
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Thank you have created sub-post of Elrond.
I happened follow this project, I have to say this really interesting project.
Highly interactive development team and have a good long planning.
Just now they have re-issued on WP 2.0 such technical on sharding, scalability and other. However I don’t know exactly the utility such as elrond Token release in ICO or not.
We will publish some notes on token distribution during December. It was very good, we are waiting for a response that comes to us all the course information news etc. Regarding the testnet is just as scalability like TPS only or including new indpenden protocol? Is there any plan of elrond stand alone not on Dapps ethereum platform? To clarify, elrond is a completely new and independent blockchain architecture, it will not run on ethereum or other platforms. Still, we will likely launch with an erc20 token first and do a token swap once the mainnet is launched. |
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Sounds like a very interesting project after reading through your website, whitepapers, blogs. Particularly like the Team behind this project, and the vision. I understand there won't be an "ICO", what method could I use to become an investor in this project?
Thanks for the interest. We are currently preparing for a private seed round and will make some announcements regarding token distribution in December. |
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Thank you have created sub-post of Elrond.
I happened follow this project, I have to say this really interesting project.
Highly interactive development team and have a good long planning.
Just now they have re-issued on WP 2.0 such technical on sharding, scalability and other. However I don’t know exactly the utility such as elrond Token release in ICO or not.
We will publish some notes on token distribution during December. |
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Are you planning to launch as an interim token (ERC20) ?
Yes, this should be the case. Will probably make some clear announcement in December as we announce the testnet launch. Be sure to follow our official thread of latest announcements: https://bitcointalk.org/index.php?topic=4430681.20 |
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Elrond is a complete rethinking of public blockchain architecture, solving scalability through adaptive state sharding, efficiency through secure proof of stake, and will enable EVM compliance by design. Elrond attempts to bring a 1000x improvement compared to the current status quo, aiming for 10,000 TPS, low latency, and minimal fees. Abstract: The advent of secure public blockchains through Bitcoin and later Ethereum, has brought forth a notable degree of interest and capital influx, providing the premise for a global wave of permissionless innovation. Despite lofty promises, creating a decentralized, secure and scalable public blockchain has proved to be a strenuous task. This paper proposes Elrond, a novel architecture which goes beyond state of the art by introducing a genuine state sharding scheme for practical scalability, eliminating energy and computational waste while ensuring distributed fairness through a Secure Proof of Stake (SPoS) consensus. Having a strong focus on security, Elrond’s network is built to ensure resistance to known security problems like Sybil attack, Rogue-key attack, Nothing at Stake attack and others. In an ecosystem that strives for interconnectivity, our solution for smart contracts offers an EVM compliant engine to ensure interoperability by design. Preliminary simulations reflect that Elrond exceeds Visa’s average throughput and achieves an improvement of three orders of magnitude or 1000x compared to the existing viable approaches, while drastically reducing the costs of bootstrapping and storage to ensure long-term sustainability. - https://elrond.com/files/Elrond_Whitepaper_EN.pdfWe've just published our latest version of the paper and are curious to hear some feedback. More info here: https://bitcointalk.org/index.php?topic=4430681.msg48270875#msg48270875There are already blockchains offering TPS near to that and many aiming for much higher. There are multiple already near to 1m+ TPS so how will Elrond compete with that? Especially if they're not already close to delivering on their blockchain. There are no public and decentralized blockchains that can process 1m TPS. Note we are not speaking of permissioned versions here. Most of the things you read are inflated marketing gimmicks, or outright BS. In fact, we have published a special section in our latest technical update on how to detect BS sold by some blockchain projects: https://medium.com/elrondnetwork/elrond-technical-progress-update-some-talk-about-it-we-build-it-3-2c556355d3ae"To understand how ridiculous latest performance claims have become, let’s assume that a transaction is 0.3 KB in size and we could process 1 million transactions per second.
Each second we would generate 300MB of transaction data that would need to be synchronized across shards/the network. Additionally, other data like blocks (headers, receipts, signatures, tx hashes), consensus messages, requests/responses for synchronization of new nodes would impose even more overhead on communication.
Without sharding, every node would have to synchronize all this information (>300MB) each second. Newly added nodes would need to have a bandwidth much greater than 300MB/s in order to catch up to the current state.(!)
An approach where not all sharding types (network, transaction and state) are combined, would have a small improvement on communication and storage requirements. 300 MB/s would translate to 17.58 GB/min, ~ 1054.6 GB/hour and ~ 25312.5 GB/day. This would mean that at least 3Gbps network is required, but for desynchronized nodes definitely more. The huge requirements for network speed, processing power and storage lead to centralization."Moving beyond this what we have demonstrated is that we can do linear scalability, so 10k TPS is not the upper limit, but rather a significant point at which scalability will be considered solved, and people will be able to focus on building stuff to leverage that kind of speed and infrastructure. |
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I don't know why people think speed is the only thing when it comes to launching a new platform, we have seen recently that speed do matter but not the main thing, the compromise of security of the platform for speed in this space is alarming, as we have seen with Ethereum and even EOS.
Well, the speed is the most important factor because the cryptocurrency must be a tool for payments. and for it to be so and effective, it is necessary that the blockchain can process a large number of transactions in a small amount of time Seems on point. Security is critical and decentralization is a necessity. The challenge lays in creating a platform with high throughput while assuming adversarial behavior and decentralization. After we have speed for payment transactions, we will have that also for smart contracts. Hopefully being able to implement some privacy features subsequently. |
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Some perspective on differentiation with other large public blockchains. More information about this can be found in our paper.  |
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Thanks for the info. Some of those seem like bad quality filters. |
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