Adaptive State Sharding & SPoS – Elrond’s (EGLD) Advantage Over Ethereum 2022 | Compare Against Defi Crypto Axie Infinity (AXS) & Parody Coin (PARO)

2 min read

2022 is the era of dApps. These applications thrive on speed and scalability. With the NFT boom, these metaverse platforms have adapted to benefit their respective communities. Crypto gaming is a new wave in the web3 revolution that lets users earn passive income through royalties, staking and trading. Tokens like Axie Infinity (AXS), Parody Coin (PARO) and Elrond (EGLD) are the most promising projects that are making unprecedented progress in the industry.

Smart-Contracts based Elrond (EGLD) built for speed and scale

Elrond (EGLD) was created in 2017 by Lucian Todea, Beniamin, and Lucian Mincu, with the backing of Elrond Network, a Malta-based corporation dedicated to the project’s expansion. Elrond (EGLD) is a smart contract platform designed to encourage the use of a distributed network of computers and focus on scalability and low transaction fees. Elrond (EGLD) achieves this by utilizing two distinct features:

* Adaptive State Sharding – dividing the Elrond infrastructure to support additional transactions and applications.

* Secure Proof-of-Stake (SPoS) — A consensus mechanism for synchronizing different network components to a single ledger.

Developers will also be able to design and run customized applications that mimic commodities and services on the platform using the Elrond (EGLD) Integrated Development Environment. Elrond’s native currency, the EGLD coin, is used to interface with programs, send transactions, and encourage users to support the network.

Originally called ERD coin, Elrond’s cryptocurrency changed its name to EGLD coin once the project’s mainnet opened in July 2020. After that, the project held a transitory event where investors could exchange their ERD for Elrond’s new EGLD cryptocurrency.

In order to develop a decentralized application and cryptocurrency ecosystem, Elrond (EGLD) is positioned to compete with Ethereum (ETH). Due to these features, investing in this token may not be such a bad idea after all.

Play to Earn gaming system, Axie Infinity (AXS) to make massive gains in 2022

Axie Infinity (AXS) is another crypto that combines earning and fun. AXS, one of the most popular and most prominent cryptocurrency games, appears to have a bright future with the emergence of Non-Fungible Tokens (NFTs).

In DeFi, players can buy, collect, trade, and combat Axies, which are NFTs. In addition to being one of the first ‘play-to-earn’ (P2E) gaming systems, AXIE Infinity (AXS) rewards its players with tokens. AXS gaming tokens have also been credited with enabling stock prices to skyrocket at the beginning of 2021 to a whopping amount at the beginning of 2022 for some gamers.

So it’s obvious that this is a terrific investment opportunity in the Metaverse, which aims to cater to a large gaming population.

Binance Based Parody Coin (PARO) facilitates crypto swapping

Parody Coin (PARO) was created as a response to the outrageous prices charged by some NFTs on the market during its presale stage. It allows users to create, trade, and use parodies of popular NFTs. Passive revenue sources include minting and selling parodies of NFTs on the open market, staking on the BNB Chain, earning through the reflection system, and finally benefiting from a wide variety of ‘ParoRewards.’

Parody Coin (PARO) is built on the Binance Smart Chain (BSC) and has three distinct features: Parody Swap, Parody Bridge, and Parody Market.

The Parody Swap allows users to easily swap crypto across any blockchain for the same amount of Parody coins. Additionally, Parody Coin (PARO) is developing a metaverse, dubbed the Paroverse, which will provide users with access to a variety of decentralized applications. With these features, you don’t want to miss out on this coin.


Chris Munch

Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.

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