Binance exchange has listed the Elrond project token. Its IEO took place on the Launchpad platform a year ago. In the first two days, the price of the asset increased by 1000%. However, the rate almost remained at the same point during the past year.
At the beginning of 2020, the Elrond crypto price boosted. What is the reason for this price increase? And what is the future of the ERD token? Keep reading and find out all the answers in the Changelly article.
Elrond (ERD) Basics
The Elrond project is a blockchain platform inspired by Ethereum, Algorand, and Zilliqa. The project aims to solve the problem of scalability. Established in 2017, Elrond tries to create a new blockchain architecture that will go beyond the maximum indicators of the current level of scalability.
According to the developers, the goal can be reached by implementing adaptive sharding and the SPoS (Secure Proof of Stake) consensus protocol. At the same time, considerable attention is paid to security effectiveness and countering such attacks as Rogue-key, Sybil, Nothing at Stake, and others.
The project is based on the search for a middle ground in such parameters as decentralization, security, and scalability. In a sense, the creators of the project rethink the blockchain architecture.
The Elrond project team is creating a new Internet infrastructure that will have:
highest scalability level;
serious indicator of the info confidentiality;
the ability to counter the censorship of Internet applications and technologies;
the ability to launch radically different control models within the network.
Adaptive sharding is a special scaling method that allows you to optimize databases by horizontal partitioning. The blockchain network is divided into pieces and, thus, it can significantly increase the speed of simultaneous processing of a huge number of transactions.
The sharding process includes separation of network, transactions, and states. The sharding model allows you to adapt to the growth or decrease in the number of nodes without harming the decentralization and security parameter.
Secure Proof of Stake is an algorithm in which consensus is reached by randomly selecting validators, determining the right to bet, and a special rating with the optimal measurement for the consensus group. The random number selection mechanism determines a node in a group of segments, the vast majority of highly adaptive and malicious attacks on the network are prevented.
Elrond (ERD) Token Price History
ERD token is a native token of Elrond blockchain. This cryptocurrency is penny-worth and high-speed. It is created for processing a variety of transactions within the network. The system nodes require a large number of ERDs. Thanks to cryptocurrency, nodes can work efficiently and manage the coordination mechanism. The asset is also used as a tool to reward its holders for assistance in confirming transactions and general adjustment of the system.
The primary listing of the coin on the exchanges took place on July 4, 2019. Over 24 hours, the token has reached a daily trading volume of $30 million.
According to the Coinmarketcap chart, the token price had remained almost unchanged throughout 2019 and the first quarter of 2020. In April 2020, the ERD price started to increase due to the announcement of the mainnet launch with Binance stablecoin, BUSD.
The price of token increased twice from $0.008 in April to $0.015 in July 2020. ERD rate still continues to grow, gaining momentum. As for the moment of writing the article (July 13th), the token beat the all-time high point of $0.0157.
Elrond (ERD) Live Price
Elrond (ERD) Price Prediction for 2020-2025
Here we’ve aggregated the most significant price predictions for Elrond cryptocurrency.
#1. Trading View ERD Chart and Price Prediction by CryptoNTez
According to CryptoNTez user, the price of ERD token will go up by 700% in two months. Seems quite bullish and unreal. Nevertheless, the rate and the recent price changes show us great potential.
According to the source, the price of the ERD token will reach $0.0178 in one year. The long term potential is around +16%. Elrond cryptocurrency will slowly go up to $0.02. The situation won’t change in 2022. By the end of 2025, the price will reach $0.037.
#3. Digital Coin Price Forecast of Elrond
The source claims that the Elrond project and its cryptocurrency have good potential. The coin may reach $0.02 by the end of this year. The asset will gradually increase to $0.068. This is the most bullish price prediction of all.
Elrond Price Prediction – Summary
Elrond’s perspectives are quite bright. The project aims to take place in the blockchain and crypto niche and bring its vision to the blockchain architecture. The technology Elrond offers is in high demand. Moreover, ERD cryptocurrency is very affordable for those who want to invest in the project.
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