World’s First High Throughput Blockchain Platform Implementing Adaptive State Sharding and Secure Proof of Stake

Implementing Adaptive State Sharding.

Shard 2 Shard 3 Shard 1 Shard 4

Implementing Adaptive State Sharding.

Despite lofty promises and billions of dollars in capital influx, creating a secure, distributed and scalable blockchain architecture has proved to be a strenuous task. In fact, nearly all current iterations of public blockchains fail the scalability test.

Hence, we present Elrond, a solution that implements Adaptive State Sharding as a novel method for scaling permissionless blockchains.

Because scalability is an imperative.

Ethereum 15 tps Visa average 5000 tps Bitcoin 7 tps 8 MB/s average bandwidth 16 shards 10000 tps

Because scalability
is an imperative.

Through an architecture that relies on Adaptive State Sharding, we achieve practical scalability thanks to the processing capacity of the system that increases proportionally with the number of participants.

Preliminary tests and simulations show that Elrond brings a three-orders-of-magnitude or 1000x improvement in throughput and processing capacity compared to Bitcoin or Ethereum, effectively out-scaling Visa, as our number one centralized counterpart.

Efficient and sustainable by design.

Efficient and sustainable by design.

Two challenging problems arise when attempting to simulate global adoption for any of the current blockchain iterations:
(i) enormous and unsustainable computational waste and energy consumption;
(ii) prohibitively costly data storage and bootstrapping problems.

Elrond attempts to solve both problems by:
(i) eliminating the need for intensive PoW consensus algorithms and proposing a novel and more robust Secure Proof of Stake consensus;
(ii) enhancing intra-shard communication and pruning the blockchain state to the most essential.

Uncompromising security is paramount.

Uncompromising security is paramount.

Elrond randomness source ensures a truly unpredictable consensus group selection, rendering any kind of collusion or bribery attacks useless. During each epoch, shards are randomly reorganized, adding a further security layer against takeover attack vectors. Publicly verifiable multi-signature seals the blocks, provides traceability and ensures a highly effective cryptographic layer.

Cross-chain interoperability is instrumental.

Cross-chain interoperability is instrumental.

We are rapidly advancing towards a world with thousands of blockchain iterations, each with different capabilities, optimizations and use cases, where cross-chain communication will become instrumental.

Elrond was designed to be EVM compliant and cross-chain compatible, effectively opening the way to productive cross-chain development.


Team

A strong team of professionals hell-bent on making things happen.

Beniamin Mincu
Beniamin Mincu CEO

Beniamin is an entrepreneur and early blockchain investor with more than 4 years experience with blockchain startups. He was previously part of the NEM core team, where he led the business, marketing and community efforts for 1,5 years, helping bootstrap the NEM blockchain from an idea to a global product. He has also invested and supported some 30 blockchain projects among which Icon, Matrix and Zilliqa. CEO of Metachain Capital. MBA dropout.

Lucian Todea
Lucian Todea COO

Lucian is a successful entrepreneur and active investor in startups and the blockchain space, with more than 15 years experience in tech businesses. He has lead one of the fastest growing startups in Europe and is a technology executive with significant operational, business development, general management, leadership and international experience. He is also CEO, founder and partner in several tech companies.

Lucian Mincu
Lucian Mincu CIO

Lucian is a skilled infrastructure engineer, with 8 years experience spanning from developing end-to-end startup products, to designing and implementing highly technical yet comprehensive infrastructure and network solutions for large enterprise clients like the German State. He loves cutting edge technology, and has joined the blockchain space in 2016, where he co-founded Metachain Capital and ICO Market Data.

Felix Crisan
Felix Crisan Head of Research

The intersection of payments, big data and distributed systems led him to Bitcoin and the blockchain industry where he Co-founded BTKO, Romania’s first Bitcoin exchange platform. Felix is currently the Co-founder and CTO of Netopia where he implemented market leading solutions for online and mobile payments. He has more than 20 years of working experience in IT and teaches BigData concepts and technologies, including Machine Learning and Artificial Intelligence algorithms. Bitcoin Lightning Network contributor.

Adrian Dobrita
Adrian Dobrita Head of Engineering

Adrian won 1st Place in a national Ai Multi-Agent Systems Competition. He holds a Bachelor’s degree in Computer Science and Master’s degree in Advanced Computing Systems. He is a software engineer with more than 10 years experience and skills in a wide range of programming languages. Adrian has worked for leading companies such as Intel, ST-Ericsson, Continental, developing industry-grade embedded software in areas such as mobile and automotive. He has also worked for several startups as back-end developer.

Radu Chis
Radu Chis Head of Technology

Radu holds a PhD in Computer Science, his main research spanning over Advanced Computer Architecture, Design Space Exploration and Machine Learning. He has published several scientific papers in prestigious journals and international conferences. He participated in EU funded research projects and has over 10 years experience as a software engineer, deploying enterprise solutions for multiple sectors.

Sebastian Marian
Sebastian Marian Core Developer

Sebastian is four times winner of the 3rd place in the prestigious global AI competition RoboCup. He is member of the RoboCup Executive Committee, and was previously member of the RoboCup Technical Committee. He has extensive experience in Multi-Agent Systems, Machine Learning and AI. He holds a Bachelor’s degree in Computer Science and is a software engineer with more than 18 years experience in a wide rage of languages and technologies.

Iulian Pascalau
Iulian Pascalau Core Developer

Iulian holds a Bachelor’s degree in Computer Science and has designed and implemented rugged, industrial-grade software for more than 10 years. He has extensive experience in C#, ASP.NET, ABAP, Python, SQL, interfacing PLC's, ERP systems (SAP and others) and is a passionate engineer with strong knowledge about IoT devices, network infrastructures, as well as analog and digital electronics.

Mihai Dorian Stancu
Mihai Dorian Stancu Software Engineer

Mihai is a Machine Learning PhD student with a creative mindset and a passion for optimization and AI. He has more than 10 years of experience in software engineering with focus on enhanced security, reliability and scalability. He has built enterprise software solutions and has provided his technical expertise to EESSI, a European IT system that helps social security institutions across the EU exchange information more rapidly and securely. He has a deep understanding of cryptography, blockchain architectures and algorithms.

Corcoveanu Cristian
Corcoveanu Cristian Software Engineer

Cristian is a full stack developer with a rich programming experience in software optimization in a wide range of industrial sectors from electronics to Internet service providers. He is proficient in javascript, React, Angularjs and node. Cristian holds a BS in Computer Science and loves learning how to harness new programming languages.

Dan Voicu
Dan Voicu Head of Communication

Dan has a Bachelor’s degree in Politics, and a Master’s degree in International Business Administration. He has strong communication skills and is especially focused on authentic community building. He believes firmly that decentralization is a very compelling means of changing the status quo.

Larisa Oltean
Larisa Oltean UI / UX

Larisa holds a Master’s degree in Design. Her extensive experience as a freelancer helps her understand complex requirements and then come up with simple and logical solutions. At Elrond she is focused on translating complex user stories into clear and intuitive design.


Advisors

Relevant experience supporting the team.

Raul Jordan
ethereum foundation
thiel fellowship
prysmatic labs
Raul Jordan Technical Advisor

Ethereum core developer. He is Co-Leading Prysmatic Labs, the first Sharding Implementation for the Ethereum Protocol. He is a partner at zk Capital, a research-focused blockchain investment fund. In 2014, Raul Co-Founded Kynplex the first ever network of its kind in the life sciences that brings together hubs of scientific innovation online. Thiel Fellow '16. Harvard dropout.

Fabio C. Canesin
city of zion
nex exchange
Fabio C. Canesin Technical Advisor

Co-Founder of City of Zion and NEX, he holds a MSc in computational mechanics and variational multi-scale modeling, and is a researcher engineer in the petroleum industry. Fabio has developed software in several large projects that have had deployed impact on billions of dollars of assets. He is also Co-founder and CTO of Lemonaid Learning Analytics.

Ethan Fast
city of zion
stanford university
nex exchange
Ethan Fast Technical Advisor

CS PhD from Stanford, Co-Founder of City of Zion and NEX. Creator of Neon wallet. Ethan is an entrepreneur and research scientist with a background in HCI, AI, and blockchain. He has led more than 10 projects to publication in top venues such as CHI, UIST, EMNLP, and AAAI, where they have won multiple awards. In May 2011, Ethan founded a Y Combinator funded startup, Proxino.

Alex Iskold
techstars
Alex Iskold Business Advisor

New York based entrepreneur and investor. Managing Director at Techstars NYC. Alex was founder/CEO at GetGlue, founder/CEO of Information Laboratory, Chief Architect at DataSynapse. Award winner and seasoned investor with presence in over 90 startups. In addition to being serial entrepreneur, Alex also wrote hundreds of articles on ReadWriteWeb, and taught an award-winning undergraduate software engineering class at New York University.

Alex Tabarrok
marginal revolution
george mason university
Alex Tabarrok Economics Advisor

Professor of economics at George Mason University. He holds the Bartley J. Madden Chair in Economics at the Mercatus Center. Co-founder of Marginal Revolution University: An Online Platform for Learning Economics. Alex is the author of numerous academic papers in the fields of law and economics, criminology, regulatory policy, voting theory and other areas in political economy. He is co-author of Modern Principles of Economics and co-author of the Marginal Revolution economics blog.

Andrei Pitis
fitbit
Andrei Pitis Business Advisor

VP of Engineering and Head of Bucharest Office at Fitbit. Founder and CEO at Vector Watch. Angel Investor with several tech leadership positions. He serves on board of ANIS – the most active Romanian software association and co-founded Tech Angels and Innovation Labs. From 1995 to 2015 he was an Associate Professor at Politehnica University of Bucharest.

Patrick Storchenegger
ethereum foundation
pst consulting
Patrick Storchenegger Legal Advisor

Zug, Switzerland based attorney at law and notary public. Part of Ethereum Foundation with many years of experience in international tax law, corporate law, commercial law, and capital market law. He is a member of the self-regulatory organisation for anti-money-laundering purposes and advises several international concerns including those engaged in trading, re-insurance, transportation and blockchain technology.

Roadmap