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Elrond Token (EGLD): Should you Invest?

Elrond token (EGLD) is one of the top 50 most popular cryptocurrencies currently. In terms of market cap, it is currently the 37th largest digital currency (over US$6.35 billion in market capitalizations). Should you invest in it? Is it a good investment? To answer all your queries, let me walk you through the Elrond token, how it works, and many more.

What Is Elrond Token (EGLD)? 

Elrond, a blockchain protocol, uses sharding to offer its users with extremely fast speed of transaction. The Elrond project considers itself a technology ecosystem that is meant especially for the new internet including the IoT (Internet of Things), decentralized finance, and fintech. The smart contracts execution platform of Elrond reportedly has the capacity of:

  • 15,000 TPS (transactions per second)
  • 6 second latency
  • US$0.001 transaction cost

EGLD or eGold is the native token of the Elrond blockchain. Users of this network can use the Elrond token to make payment for:

  • Network fees
  • Staking
  • Validator rewarding

The project was first announced in August 2019. However, the mainnet of Elrond went live only in July 2020. 

Beniamin Mincu, Lucian Mincu, and Lucian Todea are the co-founders of the Elron project. They founded it back in late-2017 in search of a solution for the blockchain scalability problem. The economics paper of the Elrond project says that it wants to create its own ecosystem and in turn establish the EGLD token as a store-of-value asset.

The Elrond network runs on 2,169 validator nodes. These nodes are again divided into 4 shards:

  • 3 execution shards: TEach of them can make 5,400 TPS.
  • 1 coordination shard: It is also called Metachain.

The adaptive state sharding architecture of Elrond is capable of complete sharding:

  • State
  • Transactions
  • Network

When the throughput demand is not fulfilled, the architecture adds an additional shard. An extensive test has been run to complete 263,000 transactions per second in a public environment with the help of 1,500 nodes from 29 countries, which are again grouped in 50 shards.

To increase the adoption of this network, the Elrond project supports developers that build on the platform. These developers are incentivized as they can earn 30% of the smart contract fees as royalties. For staking on the network, the company maintains an EGLD token supply, where the validator nodes receive a 36% annual percentage rate.

Elrond token (EGLD): Facts & Figures

All these facts and figures (as of November 15, 2021) will help you to make a decision on investing in Elrond EGLD coins. Before making Elrond transactions, check out these facts and figures associated with this cryptocurrency of choice:

  • Elrond crypto Price: US$321.52 (Current Elrond Price)
  • 24hour Trading Volume (24h Volume): US$108,992,679
  • All-Time High (ATH) Price: US$338.22 (reached on Nov 10, 2021)
  • All Time Low (ATL) Price: US$6.80 (reached on Oct 20, 2020)
  • 24h Low: US$312.11
  • 7d Low: US$292.74
  • 30d Low: US$225.37
  • 90d Low: US$128.60
  • 52 Week Low: US$7.14
  • YTD (Year-To-Date) Return: 1,132.85% YTD (Year-To-Date)
  • Market Cap: US$6,345,491,405 (US$6.35 billion)
  • Crypto Rank (in terms of market cap): 37th in the crypto market
  • Fully Diluted Market Cap: US$10,100,862,910
  • Max Supply: 31,415,926
  • Total Supply: 22,727,543
  • Circulating Supply: 19,735,886.94 EGLD (63%)

These are the facts that made Elrond coin a preferred medium of exchange. Always check out market data and technical analysis before trading or investing. Also, consult crypto financial advisors and get tips from them on trending coins and how to earn crypto easily. 

How Is the Elrond Network Secured?

A secure proof-of-stake consensus algorithm is used by the Elrond project to secure the network. The validation process requires the nodes to stake their EGLD tokens. 

On the basis of their past activity, a rating is provided to each validator. This process ensures whether a validator gets selected. If the rating of a validator gets too low, it won’t get selected and in turn, would have to pay fines. If a validator continuously acts in a way that is considered against the network’s integrity, it can be:

  • Removed from the network and also
  • Have their stakes slashed

The selection of the validators is done in a random way, which no one can predict or modify on the basis of the previous round of validations. Moreover, a periodic shuffle of validators takes place between the shards so that collusion can be prevented. The modified Boneh-Lynn-Shacham (BLS) multi-signatures are used by the nodes for communicating among one another to provide strong cryptographic protection.

Where can you Buy Elrond Tokens?

You can buy Elrond coins in almost all top exchanges including:

  • Binance
  • OKEx
  • Bitfinex
  • BitMEX, and many more.

You can use credit cards, debit cards, or money transfers from a bank account to fund your cryptocurrency trading or investing account in a leading cryptocurrency exchange. 

The most popular Elrond coin price pairs of Elrond are:

  • EGLD/EUR, and many more.

Before investing, check out historical data of token Elrond coin, fundamental analysis, crypto news, Elrond coin price charts, price performance, market updates, Elrond to USD (United States Dollar) exchange rate, Elrond price history, Elrond speed, EGLD price prediction and price forecast, and others.

What are the Best Crypto Wallets to Store Elrond coin Coins?

The best Elrond coin wallets to store EGLD coins are:

  1. Maiar Wallet
  2. Ledger Nano X
  3. Ledger Nano S
  4. Elrond Web Wallet
  5. Trust Wallet
  6. Frontier Mobile Wallet

Invest in Elrond coin and Other Cryptocurrencies

You can buy and sell Elrond coin and other virtual currencies (including Cardano price) against various fiat currencies (US Dollar USD, British Pound Sterling, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Taiwan Dollar, Russian Ruble, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges), crypto APIs or mobile app, and Elrond coin markets. Use Dollar Cost Averaging DCA strategy to invest in cryptos to minimize the risks associated with high volatility. 

If you want to increase your investment explosively in the coming 5-to-10 years, buy crypto coins now. Keep an eye on the market news, price statistics, block times, blockchain news, and others to time your trading of Defi protocols and tokens for maximum profit. 

You can also diversify your crypto coin portfolio by including other digital assets such as EGLD, XMR, FIL, ETC, WBTC, BCH, BTC, AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Gold (also called Bit Gold), Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Shiba Inu SHIB, Binance Coin, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain), nonfungible tokens NFTs, and others. 

Invest in cryptocurrencies, various types of stocks, mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or wealth management firm for maximum return. 

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