Elrond is a decentralized blockchain network co-founded in 2017 by brothers Beniamin and Lucian Mincu and Lucian Todea. As a sharding-enabled blockchain, Elrond aims to increase scalability and lower transaction fees to stand out from the crowd of actively launching blockchains.

The underlying protocol of Elrond blockchain technology consists of smart contract programming. Developers can develop on Elrond using Rust, C and C++ languages.

Elrond’s native cryptocurrency is MultiversX (EGLD), a token that can be used to pay for low transaction fees and to reward validators on its blockchain network. Network validator nodes are responsible for actively maintaining the security of the Elrond network, verifying network transactions, and minting new EGLD