Thread by @WesleyBKress

1/21 Elrond $EGLD solves Ethereum’s #ETH $ETH biggest problems both TODAY & when ETH 2.0 goes Live it will still be superior due to its design architecture & significant advancements in technology (ESDT vs ERC-20, NFT’s, etc), 30% royalties for SC, infinite scalability, 1st…

2/21 principle design architecture, lowest cost barrier to entry (node requirements), Team (execution), equality for ALL participants on network, & best tokenomics in all of crypto.

1. ETH very high Gas Fee’s & Scalability Issues. Also, due to not having 1st principle…

3/21 architecture design (Solving trilemma of Scalability, Decentralization & Security), ETH continues to run into more & more complexity solving issues (ie reacting) increasing its risk in ways that can’t exactly be modeled.

2. ETH currently can only process around 15 TPS…

4/21 Elrond’s Performance: 15,000 current TPS, 6s block time, $0.001 tx cost, can scale beyond 100,000 (263,000 TPS in testnet) Infinite Scalability. ETH 2.0 does NOT provide infinite scalability. Best case scenario is 64 shards. Assuming a single chain improves with PoS put to..

5/21 50 TPS, total throughput will still only offer 3,200 TPS.

3. One of the most attractive features of Elrond is that smart contracts authors get 30% of the gas utilized by their contract as royalties, WITHOUT the caller having to pay more. Elrond smart contracts are ALSO…

6/21 upgradable, which will definitely make life easier for any projects lifecycle. A key design for Elrond was to create fairness for ALL participants on the network.

4. ETH has continually stated ETH 2.0 would be here but has failed to deliver. Execution is poor while…

7/21 Elrond’s execution is superior to all smart contracts Blockchains in the space. No one has been able to execute in the speed & quality of Elrond.

5. Polygon/ $Matic among others have rushed in to prove Layer 2 scalability solutions. Unfortunately, these solutions create…

8/21 complexity on User experience, adding multiple steps/transactions & increases risk of user problems (ie sending from Layer 2 to a non-Layer 2 compatible platform (funds are lost). Also, it brings into question security, while MATIC has mitigated this it still is not…

9/21 perfect.

6. ETH tokenomics are unlimited (inflationary) & while EIP 1559 proposes a burn to create scarcity it certainly is far from perfect or great. Elrond on the other hand has 31 Million fixed, with 17.4 Million outstanding & the minting is STOPPED entirely if the…

10/21 network adoption supersedes the inflation, incredible.

7. ETH 2.0 is inferior even though not LIVE today to the First & ONLY LIVE blockchain architecture with state sharding. Elrond is the first to present a viable solution where all the three aspects of sharding…

11/21 - state, network and transactions - have been implemented at once. Combined with its “Adaptive” component, this novel architecture allows for dynamic network configuration to maintain a high level of security while scaling with demand. ETH 2.0 has no adaptivity in this…

12/21 regard & runs with a fixed setting of 1024 shards, so it cannot react well for the case where nodes are leaving the network. Not adapting the number of shards to the actual number of nodes can become problematic.

8. ETH 2.0 looks to use POS instead of POW but POS…

13/21 requires novel design. Elrond approaches the consensus problem with a mechanism called Secure Proof of Stake, which mitigates potential attack vectors when compared to Proof of Work, while also enabling large throughput and fast execution.

9. Elrond also stands out…

14/21 through quality of developer experience & resulting boost in usability on end-user side. MAIAR app clearly displays this. This can’t be overstated in terms of importance as for MASS adoption to occur end users experience MUST graduate past it being…

15/21 required to understand what’s going on vs. not needing to know (think the internet browser moment for the internet).

10. Elrond has improved Ethereum’s ERC-20 with its equivalent ESDT. The Elrond ESDT standard is implemented directly into the Elrond protocol. One…

16/21 important implication is that a token issued on Elrond does not need its own smart contract, which greatly reduces its storage footprint and cost. Another important implication is that a token transfer transaction does not need to be processed by the Virtual Machine. This…

17/21 increases the transfer speed and reduces the gas requirements down to just the regular TX cost + storage fee for the additional bytes of data in the data field.

11. High-Speed & Low Cost For NFTs & SFTs $0.20 to register an NFT brand -> no Ethereum equivalent $0.01 to…

18/21 create an NFT -> $100 - $600 on Ethereum $0.01 to transfer an NFT -> $100 on Ethereum

https://twitter.com/wesleybkress/status/1374012842433650690?s=21

12. True Ownership via Smart Accounts Elrond Smart Accounts have an associated data trie. This enables any account to…

19/21 have key-value storage where balances of any number of tokens can be stored. This means tokens can effectively belong to an account, instead of being associated with its address in a 3rd party smart contract. The legal, economical, and psychological implications of true…

20/21 ownership implemented in a high throughput, low latency inexpensive blockchain network will be a powerful catalyst for adoption, even in areas previously not thought possible to decentralize.

13. MAIAR vs MetaMask the user experience is night & day. One can send to each…

21/21 other as simple as sending a text messages (long public address codes) not necessary with HERO TAG, Staking with one click, super easy.

Elrond isn’t communicating they R an #ETH killer just technology that rises all tides. One must be aware though that tech is far superior

FINALLY & most important they have the business expertise led by @beniaminmincu for mass adoption. Their marketing, education, communication, ethos, collaborations, protocol sustainability & easy to use functionality is something the space has never seen.