Elrond is a distributed transactional computation protocol which relies on a sharded state architecture and a Proof of Stake consensus mechanism. While most other blockchain networks require custom hardware and high energy consumption, Elrond runs on average computers. By employing sharding, a method of parallelizing data & transactions processing, Elrond’s performance aims to scale up the number of computers joining the network while growing increasingly decentralized.

The EGLD token is a unit of value that is native to the Elrond network. It represents a medium of exchange between users & developers who pay to use the network and validators who take the fees as payment for the services they provide.