The Incredible Amazing Elrond Story is About to Start

6 min readFeb 10, 2020

What you are about to read in the future might be regarded as a “sacred holy text” that described one of the biggest success histories in the early days of blockchain technology adoption. The project that set the path for real-time, real-life and actual projects to run on the blockchain without any limitations.

Of course, I am talking about Elrond. The 4th Generation blockchain project or Blockchain 4.0 as it is easier on the tongue and probably a bit an easier way to present to the market. But even here you can see that the Elrond team is not chasing for fancy marketing names. They are laser-focused on building the incredible Elrond technology, that I am sure will power the future technology for institutions, industries, governments, and common users.

The biggest difference that Elrond’s Blockchain 4.0 technology brings to the market is tools that will enable us to build and the speed which will allow all the projects to actually work in the real world.

Preparation for greatness

Destabilization complete, prepare for departure… It’s what it feels like when things are getting written, built, tested, prepared, launched and repeated till it’s perfect.

You could try and ask the asteroid field of complexity and all the detours you had to travel through all the time wasted not to explode on you. Or you could be patient and keep on building, testing and keep preparing that it is actually the greatness you will achieve.

And I really love what Elrond team is doing. They are learning from the failures of different crypto projects. And you can be sure the team does NOT want to lose all the time and effort invested on some bolt lost in the WASM VM engine that might blow the whole thing up!

So that is why the team had prepared a battle plan and been executing it steadily since. The plan in simple terms consists of these 3 parts:

🌎 Economic security via prestaking is reached
🔐 TrailofBits & Prysm Audit findings implementation is done
⚡️ Battle of Nodes running a genesis-ready testnet for 15 days without downtime

When all the criteria are met. Elrond mainnet will be launched!

Experience

All the progress, feedback from the team and community is looking really positive. The staking process is not the easiest one, but still, people on crypto space have their head on their shoulders and can handle a bit of complexity.

It’s a necessary evil in these early days on blockchain technology. But all is fine because Pre-staking is moving more or less as planned and at this moment 54% of ERD tokens are currently locked in the prestaking contract: 0xE9F97FCa1C8C1dDC6649104A6dBCD400D073A445

Below you will find some statistics:

Current stats from Binance ERD lending program

Myself not an exception. Got all my $ERD tokens pre-staked! You still have some $ERD tokens. Go and Pre-Stake them today!

Visit: stake.elrond.com there is even a handy video tutorial. If you need any help be sure to join the official Telegram channel ask for some help! A friendly Elve will answer all your pre-staking questions!

Amazing start

When everything will launch with all the upgraded features, enhanced A.I (not currently planned, but maybe 😊 ? I heard Mr. Delphi is working on some amazing bots) and all the bells and whistles of Adaptive State Sharding, Secure Proof of Stake and Elrond VM.

And when the genesis block will be etched in stone with heroic words of wisdom. Things will start turning around for the better because all the beautiful and fancy words in the world mean nothing if you can’t deliver on your promises!

And only real actual results can show the true greatness of the Elrond!

Wise approach

Everything the Elrond team is doing is using a careful approach to everything while keeping things moving at a steady pace. Not abusing advertising and looking for people how actually interested in technology and not only for investors who are looking for a quick buck.

Securing the network in the first moments of the launch is critical. Learning from the failed launches of a couple of blockchains (the networks were overtaken, chains were split or even crashed) team is investing and working to achieve economic security. All this coupled with security audits and stable Testnet, in my opinion, will allow Elrond to launch the mainnet safely and securely.

I’m a just an Elf not a psychic

Never trust the words of the madman or person who claims he knows the future. Nothing is set in stone. Things could be worse before they get better or we could be off to an amazing journey!

Elrond will approach partners and make strong alliances that will build on their technology. Launch amazing, interesting and most importantly useful real-world projects.

All this might look like it’s 32 kilometers or 200 miles into the future. But it’s much closer than probably any of us think. Sometimes you must try to believe and follow, but must always be cautious and curious about the path you follow. And if you can influence the world around you. Making a world a batter place before you got here.

That is why I think it is essential to work and hustle every day think about how you can improve not only your world but for all the people that surround you.

A story for the real-life

Lots of Blockchain projects create all of the different things that nobody actually needs or wants, or even cares about.

Just building dApps will not bring adoption. They not only must be interesting and useful for the users but should actually provide value and not just novelty.

The other day I was discussing this crazy idea with my colleagues at work that could change the world or might be too good to be true or maybe it’s just a naive dream.

The real-life lottery

Usually when you think about buying a lottery ticket. You think that you have well quite small chances of winning and you're buying the ticket, just because there is a tiny chance or the add was just really good. And used lots of psychological triggers that got you into buying it. Not only that but some of these organizers tale 30% or 50% of possibles winnings. So you basically lose, just by buying the ticket.

So the idea is quite simple. It probably needs a lot more research and calculations. But here it is:

A smart contract is written on Elrond blockchain, which automatically will distribute and handle all the transactions, distribution.
A dApp is built to allow easy onboarding
There are no fees for the organizers
Everyone deposits X$ amount worth of $ERD tokens
When the lottery starts and every X hours (let say 3 hours) 0.005% amount is taken from the entry-amount $ERD from each participant
One of the lucky winners is picked every X hours (let say 3 hours) and he received the distribution for all the 0.005% gathered from all participants.
More participants the greater results.

I know it’s probably a weird dApp, but still, it’s miles better than any of lotteries I have ever heard about.

I can’t wait to see what will get built on the wonderful technology of Elrond. And I am eagerly waiting for the mainnet to launch!