Thread by @WesleyBKress

(1\31) Why @ElrondNetwork is positioned to be the backbone for #DeFi 2.0 & will lift all tides? 🌊 Many have claimed they would do this, problems or limitations with all proposed or current implemented solutions. Let me explain further.. $EGLD $CEL $ETH $MATIC $AVAX $BSC $SOL

(2\31) It has always been evident the limitations of $ETH in its original form. It can’t scale, so when volume (i.e. traffic) substantially increases it becomes unusable for small users due to high fee’s promoting inequitable

(3\31) opportunity, which is against the #ETHOS of #DeFi & #BlockChain limiting Inclusiveness. $ETH also screeched to a halt due to technological limitations, making it unusable at times (i.e. Crypto Kitties). Both of these center around scalability. Introduce a commit

(4\31) chain $MATIC termed by @finematics which allows for scalability but introduces network security risk complications but is superior to a traditional side chain. $MATIC leveraged the large network (Users & liqudiity) of $ETH & why I purchased at $.07 to implement their

(5\31) technology allowing for exponential growth. $MATIC won over most projects in the space due to their superior customer service & onboarding of projects onto the network. I have been using $AAVE on the $MATIC network for months now. The fee’s are amazing but when traffic

(6\31) picks up, hours have gone by where it will not execute a transaction. It literally causes the network to stop executing. Both myself & my twin brother @MichaelGKress have experienced this. This is a limitation now but wait there is further problems. What most do not

(7\31) tell you about $ETH scaling solutions; known as Layer 2 (Optimistic Rollups or ZK Rollups) & Side-chains is their limitations. The limitations deal with a couple of concepts: 1. Composability 2. Interoperability. The first one composability deals with the inability for a

(8\31) smart contract to simultaneously communicate among different DAPPS that may be located on different aspects of the $ETH scaling ecosystem. Example a DAPP on $ETH main chain trying to simultaneously execute a smart contract batch between $MATIC commit chain, $ETH main chain

(9\31) & Optimism (Layer 2), this would be impossible as they are essentially all isolated islands in an eco-system. The second concept of interoperability deals with the idea that you would need to constantly bridge from one scaling solution back to $ETH (main chain) & to other

(10\31) scaling solution. Not only is this extremely costly, going through $ETH but it’s super complex & requires too many steps. These are all partial band-aid issues to a 1st principle design flaw. But wait, what about $ETH 2.0 & sharding isn’t that what makes $EGLD so great,

(11\31) you say? See, the devil’s in the details. Due to $ETH first principle limitation they can only reactively integrate “sharding” so they can only implement 64 shards which can only process 50 TPS as they are only implementing ONE type of sharding, thus the main chain

(12\31) will be MAX 3,200 TPS (64*50). In stark contrast $EGLD with its superior 1st principle design, Scalability is ensured with 4,294,967,294 maximum shards all able to process ~5,000tps (essentially infinitely scalable at (4,294,967,294*5,000TPS) due to implementing ALL THREE

(13\31) sharding techniques (Network, Transaction & State). Also, due to not having the 1st principle design limitations of $ETH, Elrond $EGLD will have no issues with composability or interoperability as scaling is intrinsic in its first principle design. No 🏝️'s
What about $BSC

(14\31) doesn’t it have low fee’s? Why would anyone be incentivized to leave. Well for starters there is #Decentralization. We all know there are only 21 nodes $BSC. Beyond this the complexity is very high. With ElrondNetwork $EGLD you get a beautiful, simple UX/UI @getMaiar

(15\31) that anyone can use, this invites people in. Standing true to the principle of Inclusiveness that blockchain was designed to promote. Oh & it’s decentralized with 3,200 nodes, yes. So $BSC was a fork of $ETH designed to capitalize on the opportunistic time frame until the

(16\31) future had arrived. Well the future is here & it’s called the #MaiarExchange $MEX the first with all these qualities:

https://twitter.com/WesleyBKress/status/1411870516223250439?s=20

(17\31) Wait but I keep hearing about $SOL solana & its Serum DEX doesn’t it have all those qualities & has already launched, but essentially done “okay” but not great? Yes, this is correct. Why? See this is where the brilliance of @beniaminmincu @luciantodea @LucianMincu

(18\31) strategic sequential business executions comes in. They launched the @getMaiar app FIRST, a best in class UX/UI in which anyone can use promoting inclusiveness, allowing the most seamless staking of $EGLD ever seen in the crypto space. The results are in & almost 83,000

(19\31) individual users are staking that is unreal. But most importantly launching @getMaiar first built the end users & community (2nd strongest in the entire crypto) to support the launch of the #MaiairExchange $MEX. This can’t be overstated in terms of its importance to the

(20\31) success of the #MaiarExchange. When Serum launched it did NOT have this, neither the app nor the community, this is essential for success if you are outside the bounds of the $ETH liquidity & end user superiority. You need users this will be the first with a massive &

(21\31) super engaged community. This is powerful. $SOL believed that speed over strategy was the way to go. They showed this with their actions. The founder communicated that “sharding” was too complicated & unnecessary, translation: lets just forget about equitable opportunity

(22\31) & make money NOW. So they used expensive hardware as a way of scaling not allowing for true equitable opportunity. On top of that they used a traditional POS model which also promotes pooling of resources & lack of equitable opportunity to win rewards leading to

(23\31) concentration/centralization. $SOL is limited in terms of total scalability. Many have stated that $SOL can process 65,000 TPS & can scale even higher to 750,000+ & add in sharding later as well. This is where they would run into the same problems described above with

(24\31) Ethereum, it becomes a 1st principle design limitation that can’t be corrected in retrospect. The key concept or principle is “adaptivity” which @beniaminmincu has discussed. What this entails is dynamically adjusting to the needs of the network

https://twitter.com/johnnyr06245592/status/1418930325590261766?s=20

(25\31) demand by adding another shard to the meta chain, infinitely scaling with demand without running into composability or interoperability issues within the scaling solutions being used. This is why Elrond $EGLD will be the backbone to the entire crypto space. Elrond has

(26\31) said & demonstrated via #Execution we want to allow everyone to participate so will work day & night to solve the “complex” sharding but not just 1 but all 3 aspects of sharding: Network, Transaction & State (the most difficult of all). This not just theorizing but

(27\31) executing on the #ETHOS of blockchain via demonstrable execution. This has allowed for minimal hardware requirements similar to $ETH but infinite scalability, essentially. Finally, with reference to $AVAX which can scale as well it poses the 2 similar limitations of all

(28\31) scalable solutions presented thus far, it doesn’t have a massive community or the 2nd strongest as rated by @picoloresearch in relation to Elrond. It also doesn’t have any seamless onboarding app like @getmaiar. The reason $BSC thrived was no only low fee’s but Binance

(29\31) was the largest exchange in crypto (i.e. it had a very large community of users). See execution is key and it must be done in the correct steps to ensure & potentiate success. Finally, & most importantly $EGLD & @ElrondNetwork is the most

(30\31) interoperable blockchain in the entire cypto space. they will be building bridges to allow global liquidity to flow seamlessly through to the low cost, low latency, high throughput, state of the art network for everyone to leverage.

(31\31) All of these aspects including the one’s laid out in my 44 page research & investment thesis as to why Elrond will not only be the leader of the smart contract blockchain space but the backbone to #DeFi 2.0. The future is here:

https://twitter.com/WesleyBKress/status/1402453421706289156?s=20

The name is the @ElrondNetwork & its Native coin is $EGLD, the most scarce staked coin with the best tokenomics in the entire crypto universe.