A highly revered crypto strategist with the pseudo name Guy recently revealed that a pretty unpopular crypto asset that had already posted over 600% since January could be the next outstanding smart contract platform.
The expert further explained his bias via YouTube to his 640,000 subscribers that the blockchain network Elrond (EGLD) has the unique attributes of the flagship crypto, Ethereum, and other new decentralized platforms in creating a one-of-kind crypto network.
He said, “It has managed to combine the best features of many leading cryptocurrencies in the space and even improve them.
Elrond’s adaptive state sharding is like the sharding we will see in Ethereum 2.0, but better.
Elrond’s secured proof of stake is like Harmony’s (ONE) effective proof of stake, but better. Elrond’s Arwen virtual machine is like Cosmos’ CosmWasm virtual machine, but better.
Elrond eGold (EGLD), the fast-rising token at the time of writing this report, traded at around $180 after an impressive bullish rally from around $30 this January. Still, the crypto expert anticipates further upsides in the future.
“Elrond’s growth has been exponential since its mainnet launch last summer. From where I’m standing, this growth has been well deserved and there is much more on the horizon. Besides the expansion of staking participation and rewards with phases 3 and 4, Elrond’s decentralized finance (DeFi) ecosystem will likely drive some serious demand for EGLD.”
What you should know
The crypto asset is a type of blockchain architecture, designed to support a 1000-fold cumulative improvement in the execution of speed. Elrond architecture combines a Secure Proof of Stake (PoS) algorithm facilitating unlimited scalability.
It was originally designed to facilitate the process of over 10,000 transactions per second at a cheap cost and with 5-second latency, attempting to become the backbone of a borderless, permissionless, and globally accessible internet economy.