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1
ICO ANN / [ANN] Elrond | 1000x Throughput | 6000+ Merchants Accepted
« on: April 15, 2019, 03:21:35 PM »



Elrond is a complete rethinking of public blockchain architecture, solving scalability through adaptive state sharding, efficiency through secure proof of stake, and will enable EVM compliance by design. Elrond attempts to bring a 1000x improvement compared to the current status quo, aiming for 10,000 TPS, low latency, and minimal fees.
 
Abstract: The advent of secure public blockchains through Bitcoin and later Ethereum, has brought forth a notable degree of interest and capital influx, providing the premise for a global wave of permissionless innovation. Despite lofty promises, creating a decentralized, secure and scalable public blockchain has proved to be a strenuous task. This paper proposes Elrond, a novel architecture which goes beyond state of the art by introducing a genuine state sharding scheme for practical scalability, eliminating energy and computational waste while ensuring distributed fairness through a Secure Proof of Stake (SPoS) consensus. Having a strong focus on security, Elrond’s network is built to ensure resistance to known security problems like Sybil attack, Rogue-key attack, Nothing at Stake attack and others. In an ecosystem that strives for interconnectivity, our solution for smart contracts offers an EVM compliant engine to ensure interoperability by design. Preliminary simulations reflect that Elrond exceeds Visa’s average throughput and achieves an improvement of three orders of magnitude or 1000x compared to the existing viable approaches, while drastically reducing the costs of bootstrapping and storage to ensure long-term sustainability. - https://elrond.com/files/Elrond_Whitepaper_EN.pdf

Defining the challenges:

Several challenges must be addressed properly in the process of creating an innovative public blockchain solution designed to scale:

• Full decentralization - Eliminating the need for any trusted third party, hence removing any single point of failure;
• Robust security - Allowing secure transactions and preventing any attacks based on known attack vectors;
• High scalability - Enabling the network to achieve a performance at least equal to the centralized counterpart, as measured in TPS;
• Efficiency - Performing all network services with minimal energy and computational requirements;
• Bootstrapping and storage enhancement - Ensuring a competitive cost for data storage and bootstrapping synchronization;
• Cross-chain interoperability - Enforced by design, permitting unlimited communication between external services.

Starting from the above challenges, we’ve created Elrond as a complete rethinking of public blockchain infrastructure, specifically designed to be secure, efficient, scalable and interoperable. Elrond’s main contribution rests on two cornerstone building blocks:

1) A genuine State Sharding approach: effectively partitioning the chain state into multiple shards, handled in parallel by different participating validators;
2) Secure Proof of Stake consensus mechanism: an improved variation of Proof of Stake (PoS) that ensures long term security and distributed fairness, while eliminating the need for energy intensive PoW algorithms.

Adaptive State Sharding

Elrond proposes a dynamically adaptive sharding mechanism that enables shard computation and reorganizing based on necessity and the number of active network nodes. The reassignment of nodes in the shards at the beginning of each epoch is progressive and nondeterministic, inducing no temporary liveness penalties. Adaptive state sharding comes with additional challenges compared to the static model. One of the key-points resides in how shard-splitting and shard merging is done to prevent overall latency penalties. Latency, in this case, is the communication overhead required by nodes, in order to retrieve the new state, once their shard address space assignment has been modified.
Users are external actors and can be identified by a unique account address; nodes are computers/devices in the Elrond network that run our protocol. Notions like users, nodes, addresses will be further described in chapter II.1 - Entities



Elrond solves this challenge by:
  • Dividing the wallet (user)account address space in shards, using a binary tree which can be built with the sole requirement of knowing the exact number of shards in a certain epoch. Using this method, the accumulated latency is reduced and the network liveness is improved in two ways. First, thanks to the designed model, the dividing of the account address space is predetermined by hierarchy. Hence, there is no split overhead, meaning that one shard breaks into two shards, each of them keeping only one half of the previous address space in addition to the associated state. Second, the latency is reduced through the state redundancy mechanism, as the merge is prepared by retaining the state in the sibling nodes.
  • Introducing a technique of balancing the nodes in each shard, to achieve overall architecture equilibrium. This technique ensures a balanced workload and reward for each node in the network.
  • Designing a built-in mechanism for automatic transaction routing in the corresponding shards, considerably reduces latency as a result. The routing algorithm is described in chapter IV.4 - Elrond sharding approach
  • In order to achieve considerable improvements with respect to bootstrapping and storage, Elrond makes use of a shard pruning mechanism. This ensures sustainability of our architecture even with a throughput of tens of thousands of transactions per second (TPS).

Secure Proof of Stake (SPoS)

We introduce a Secure Proof of Stake consensus mechanism, that expands on Algorand’s idea of a random selection mechanism, differentiating itself through the following aspects:


  • Elrond introduces an improvement which reduces the latency allowing each node in the shard to determine the members of the consensus group (block proposer and validators) at the beginning of a round. This is possible because the last block’s aggregated signature is used as the randomization factor r. The block proposer is the validator in the consensus group who’s hash of the public key and randomization factor is the smallest. In contrast to Algorand’s approach, where the random committee selection can take up to 12 seconds, in Elrond the time necessary for random selection of the consensus group is considerably reduced (estimated under 100 ms). Indeed, there is no communication requirement for this random selection process, which enables Elrond to have a newly and randomly selected group that succeeds in committing a new block to the ledger in each round. The tradeoff for this enhancement relies on the premise that an adversary cannot adapt faster than the round’s time frame. A further improvement on the security of the randomness source, would be the use of verifiable delay functions (VDFs) in order to prevent any tampering possibilities of the randomness source until it is too late.
  • In addition to the stake factor generally used in PoS architectures as a sole decision input, Elrond refines its consensus mechanism by adding an additional weight factor called rating, The node’s probability to be selected in the consensus group takes into consideration both stake and rating. The rating of a block proposer is recalculated at the end of each round epoch, except in cases where slashing should occur, when the actual rating decrease is done instantly, adding another layer of security by promoting meritocracy.
  • Elrond uses Bellare and Neven multisignature scheme, which eliminates one communication round in the signing algorithm, because no proof of possession is needed, but maintains the same security level.


FAQ - https://elrond.com/faq


2
TAU-X Exchange / Re: TAU-X revive
« on: April 04, 2019, 08:14:45 AM »
Taut got listed in Wadax exchange https://wadax.io/trade/TAUTBTC

3
🚨 Distribution of March airdrop is done ! 🚨
LinkedIn bounty will be distributed in upcoming days.

Thank you all for participating !

🚨X-Bank Account Withdrawal/Deposit Issue 🚨
Good day everyone if you come across an issue on your X-bank account either with withdrawing or depositing of funds, please let us know through bellow provide form and we will try to resolve issue as soon as possible.
• Do Not Fill up about Airdrop Issue it will be ignored
• You must include both Discord & Telegram username to be easy to contact by the devs

Fill Up: https://forms.gle/zPsY3UTrVrD7Nag66

4
AIRDROP

Every month, 1% of the XCASH supply (1 billion) is released through a free airdrop and bounty program.

Everyone can register for free and claim a fraction of the released amount. We felt this was the right way to do things, as it gives the possibility for anyone to be involved in the project, even if one does not have access to significant mining power.

We are delivering our airdrop through our own cryptocurrency storage solution: the X-Bank




REFERRAL

The referral program will increase the amount you will receive during the airdrops by 25% per person referred and by 25% if you have been referred.

Only validated account and airdrop subscribers will be counted for the referral bonus.

5
||| WEBSITE ||| EXPLORER ||| MINING ||| AIRDROP ||| COMPANY |||











Name
X-CASH
Ticker
XCASH
Max supply
100,000,000,000 (100 Billion) XCASH
Circulating Supply
~28 Billion
PoW Algorithm
Cryptonight Heavy X
Difficulty Algorithm
LWMA 120 Blocks
Block Time
2min.
Transaction Privacy
Private/Public






MINING

 
XCASH is a minable cryptocurrency. We have improved the PoW algorithm to CryptoNight HeavyXx (or Cryptonight v8 double) to better resist against ASICs and FGPA, and to be Nicehash resistant.






DISTRIBUTION OF X-CASH





SEGREGATED FUND TRACKER

One of our goal is to be transparent in our engagements to the community. To this end, we have developed a segregated funds tracker that will allow anyone to check the balance of the locked wallets.
We are using cryptographic reserve proofs which allow confirming that a specific address holds a certain amount without revealing its public key.







TEAM
 





ROADMAP
We are developping many features to improve our services and provide a state-of-the-art innovation.
Our roadmap gives you a deeper look on what we are working on and the next steps of our ecosystem.





GUI WALLET

Always thinking about improving users experience, we have developed our own desktop wallet to help users navigate through their account, send/receive payments and manage settings.
We are currently working on bringing the desktop wallet to OSX and Linux systems, and on mobile later this year.

 





||| WEBSITE ||| EXPLORER ||| MINING ||| AIRDROP ||| COMPANY |||



6
Rank Requirements / Re: How to increase your member rank? (phase1)
« on: April 03, 2019, 07:35:45 AM »
what is the new rank limitation? can the newbie still post links?

7
Philippines / Re: PRESYO SA PALITAN
« on: April 03, 2019, 07:24:46 AM »
Depende talaga yan sa presyo ng gusto bumili at magbenta pero para sakin hold lang  ;D

8
I voted yes!

9
Forum ANN / Re: Introducing to TAU Point & Shop!
« on: April 03, 2019, 07:18:01 AM »
this could bring new members and more activity in the forum

10
TAU-X Exchange / Re: TAU-X revive
« on: April 02, 2019, 02:48:43 PM »
i hope its true so we can trade our tau coin and i also want to see the 100 BTC again  ;D

11
i think there should be also an incentive in promoting the forum

12
Philippines / Re: Taucoin Philippine Telegram Group
« on: March 01, 2019, 03:28:22 PM »
Pakopya din sna. Astig eh.. mdalI lng b gumawa nyan?

Kinopya ko lang yan sa signature bounty tapos inedit ko nalang check mo dito ang code https://taucointalk.org/index.php?topic=633.0

13
TAU-X Exchange / Re: TAUCOIN EXCHANGE REFERRALS
« on: January 26, 2019, 01:38:42 PM »
Hi I have not registered yet I want a registration link

Feel free to use this Taucoin referral link Here

14
Offer Service / Re: [offer] promote your project on TAUcoin.io homepage
« on: January 21, 2019, 03:35:13 AM »
~Snip
Done! I've sent 200 Tau. Thanks!

Transaction ID :
93708373a93edb1253510a58d862da4fe4a65c9b40aa2184cf48b797afb3cc2a

15
Offer Service / Re: [offer] promote your project on TAUcoin.io homepage
« on: January 20, 2019, 03:58:24 PM »
Can you add the Philippine Telegram Group in the page?  https://t.me/TAUcoin_PH
if yes i can send the now tau now. Thanks!

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