What is Elrond?
Elrond coin is developed by the Elrond network. This network is built to incentivize users to run smart contracts on the blockchain. The aim of the Elrond coin and the parent network is to “prioritize scalability and low transaction fees.”
In order to compete with major blockchains, Elrond employs certain techniques to improve its performance.
These features include ‘adaptive state sharding’ and ‘secure proof-of-stake.’
What do you need to know about the airdrop?
The Elrond platform has decided to airdrop $40,000 worth of Elrond coin. This prize pool will be airdropped to 2,000 lucky winners. This airdrop is specifically undertaken to increase the popularity of the coin.
The interested users can participate in this airdrop to receive free Elrond coins. Users must perform some tasks in order to be eligible to win the airdrop. These tasks include promoting the Elrond and the maiar network on social media platforms.
The winners will be picked at random from the participants. The network will distribute the prize pool in an equal proportion so as to ensure a fair airdrop. Moreover, the rewards will be sent to the winners’ wallets a week after the winners are announced by the Network on their social media pages.
What are the benefits of participating in this airdrop?
As mentioned before, Elrond has employed two great features in order to compete with major blockchains.
The ‘adaptive state sharding’ feature breaks the blockchain nodes into smaller fractions so as to facilitate quicker transactions. This feature has enabled the network to conduct 15,000 transactions per day at $0.001 transaction cost. The Elrond coin is used for conducting said transactions and stake them to earn rewards.
The coin has no inflationary forces as the supply of Elrond is fixed. The supply is capped at 31,415,926 but it gets better. The number of Elrond coins mined keeps decreasing with an increase in the number of transactions. Thus, the value of Elrond is more than likely to increase on a large scale.
The price of Elrond is already at $96. It has the potential to go much higher. The value of the coin can grow two or three time in the next decade.
Moreover, the Elrond network is highly secure as it uses a proof-of-stake algorithm to protect its users.
The coin has a huge scope for growth with negligible risks.
Crypto enthusiasts are recommended to capitalize this opportunity as Elrond is one of its kind!
Participation in this airdrop could prove to be very profitable in the long-run.