Elrond (ERD) Review

An independent review of Elrond (ERD)

Elrond well positioned for strong growth amidst turbulent markets

Company Overview

Elrond has created a novel architecture through two key innovations; 1) adaptive state sharding technology and 2) Secure Proof of Stake (PoS) consensus. This protocol will enable a scalable ecosystem embedded with interconnectivity while maintaining  the  decentralisation,  security  and  fairness  features  of  a  public blockchain.  Test  results  have  reflected  a  1000x  increase  as  compared  to existing solutions currently in the market with an average throughput of 30,000 transactions per second (tps), 5 seconds block time and negligible fees.

Since Elrond’s inception, the project has made notable progress both technically and business developments. Currently, the network is in the transition from testnet to mainnet, which will occur across several phases. In this report, we focus on several key updates and highlight price catalyst for Elrond (ERD) tokens.

Report Highlights

In this report, Picolo will highlight several updates and developments of Elrond Network and provide an investment thesis on Elrond (ERD) Tokens. Here are the highlights of the report:

•Target price of $0.00248, representing a 48% upside

•Early staking rewards the key driver

•Significant  technology  and  business  developments  from  IEO  to  present creates a strong foundation for the platform

Thematic Views

Upcoming  mainnet  launch  with  staking  rewards  to  create  significant tailwinds – Many reports predicting an outlook for 2020 have cited staking / yielding tokens as a thematic proponent going into the new year. Our internal research analysis further substantiates this point as investors are slowly waning away from price volatility, and are seeking to rebalance their portfolio towards passive, stable income tokens.

This trend is becoming popular amongst major exchanges, as they have been rolling out support for more staking tokens, in turn transferring yields back to end clients. Notably, Binance, Coinbase, and OKEX had close to zero staking products at the beginning of 2019 to providing over 20+ options at the end of 2019. More importantly, this benefits the projects in its entirety by keeping value within the network, simultaneously offering users to play their part in the system.

For a start, Elrond has successfully fulfilled its first 3 of 10 waves for pre-staking (~$2.5m USD locked) since the bootstrapping process began on 31 Dec 2019.

Elrond Bootstrapping Phase 1 - staking yields

Successful Testnet performance to boost confidence for Mainnet launch – Elrond has been consistently working hard in developing and ensuring their protocol is robust. Their Virtual Machine has proven to be the fastest against its competition across different benchmarks.

There’s more to this report…