Elrond is a blockchain protocol that provides extremely fast transaction speeds using sharding. Elrond is a technology ecosystem for the new internet, including fintech, decentralized finance, and the Internet of Things. Elrond’s smart contract execution platform is said to be capable of executing 15,000 transactions per second with a latency of just six seconds and a transaction cost of $0.001.

Elrond also has the advantage of high scalability. The project also supports developers building on the platform, allowing them to earn 30% of smart contract fees in the form of royalties.

EGLD is a token that works on the Elrond blockchain and is used to:

• Pay network fees
• Stake and reward validators

In addition, EGLD is also established as a digital asset to store value.