Elrond, a smart contract platform that combines Bitcoin’s scarcity and Ethereum’s smart contract programmability, has surged in value from $7 to almost $200. Its mainnet went live in July 2020, and its eGold token has been one of Binance’s biggest success stories, posting a 260X gain since launch. Elrond aims to be a leading smart contract platform, capable of performing 15,000 transactions per second with a max initial supply of slightly over 20 million. With strong community and partnerships, Elrond seems ready to surge again, with price predictions of $1500 to $2000 for eGold.
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Elrond: The Next Big Thing in Smart Contract Platforms
Introduction
If you’re interested in making money in cryptocurrency, then you need to keep your eyes on Elrond. Founded in 2017, Elrond seeks to be the next big smart contract platform and is already experiencing significant success. This article will take a closer look at Elrond and its eGold token, including its price history, tokenomics, partnerships, and potential for growth during this bull run.
The History of eGold
Originally launched on Binance’s launchpad in 2019, eGold quickly became one of Binance’s biggest success stories, posting over a 260X gain from its launch price. Elrond went live in July of 2020, but it really began to gain value in December of that year, surging over 200% in that month alone and more than 1500% for the year. Since then, eGold has surged a shocking 2000% more. Although Elrond was trading incredibly cheap at the start of 2020, it is now trading at almost $200 per token.
Elrond’s Unique Features
Elrond is an internet-scale blockchain that combines the scarcity of Bitcoin with the smart contract programmability of Ethereum. It can handle 15,000 transactions per second and scales in the hundreds of thousands due to its tests on the testnet. The eGold token is used for transaction fees, smart contract interaction, rewards, and governance on the network. Elrond uses Adaptive State Sharding to achieve this throughput and features of consensus mechanism called Secure Proof of Stake.
Tokenomics and Partnerships
Elrond has a max initial supply of just over 20 million, but there are actually 31.5 million eGold tokens available. While the additional 11.5 million eGold will be issued over the next 10 years, the released supply will be about 10% being minted in the first year, about 9% in the second year, and so forth. There are currently over 3,200 validator nodes possible on the network, and running a validator node requires staking at least 2,500 eGold.
Elrond has been busy building partnerships, including with companies such as BitGo, RAMP DEFI, and Binance Smart Chain. For a full list of Elrond’s partners, check out the website elrondpartners.com.
Predictions for Elrond
At the start of 2021, some experts predicted that eGold was heading for the top 20, with a potential 50X increase this bull run. In February, eGold experienced a significant surge, increasing $50 in one day alone. Experts now believe that eGold could be worth between $1,500 and $2,000.
Conclusion
Elrond is a smart contract platform that is definitely worth keeping an eye on. Its unique features, impressive partnerships, and potential for growth during this bull run make it a promising investment. Whether you’re new to investing in cryptocurrency or a seasoned pro, adding eGold to your portfolio could be a smart move.
