What is Elrond?
Elrond (EGLD) or eGold is a coin built in the Elrond blockchain. Payments of fees and returns for validators are conducted by the coin. It is possible to employ Elrond in the fintech industry, DeFi, and the IoT. The Elrond network has a bound supply starting at 20 million EGLD. To pay chain approvers, new coins are minted. Trade fees are shared between them and the Community. The token is exchanged on many trading platforms. The maximal supply can't pass 31,415,926 coins ever, although this indicator will lower as the number of implemented operations increases. EGLD had an initial exchange offering on Binance, where 25% was exchanged and became accessible instantly. In 2017, Romanian entrepreneurs Beniamin and Lucian Mincu brothers together with Lucian Todea founded the protocol as an answer to the scalability issue. To run a scalable, time-effective, and reliable system, Elrond works adaptive state sharding.