What is EGLD coin? How does the EGLD coin work?

EGLD Coin: The native token of the Elrond network

EGLD Coin is the native token of the Elrond blockchain network and is used to pay transaction fees, stake to protect the network, and Participate in network governance.

How the Elrond blockchain works

The Elrond blockchain uses sharding technology to divide the network into multiple shards so that each shard can process transactions independently. This innovative design effectively improves the network’s transaction processing capabilities and scalability.

Use of EGLD Coin

• Transaction Fees: EGLD Coin is used to pay for the fees to perform transactions on the Elrond network.
• Staking: EGLD coin holders can stake their tokens to validators to help secure the network and earn rewards.
• Governance: EGLD coin holders can participate in the governance of the Elrond network through voting, including decisions on network upgrades and proposals.

Advantages of EGLD Coin

• High throughput: Sharding technology enables the Elrond network to handle large volumes of transactions.
• Low Transaction Fees: EGLD Coin has low transaction fees, making it suitable for everyday use.
• Scalability: The Elrond network can be easily expanded by adding more shards to meet growing demand.
• Security: The staking mechanism encourages validators to keep the network secure and prevent malicious activity.
• Governance: EGLD coin holders have the governance rights of the network, ensuring its transparency and accountability.

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