Elrond is a blockchain technology that uses sharding to provide incredibly fast transaction rates. Elrond's speed will scale up with the number of machines joining the network, reaching more than 100.000 transactions per second while becoming progressively decentralized.Elrond's economic model features a finite supply that begins at 20,000,000 EGLD, with additional tokens being coined to reward network validators. The maximum supply will never exceed 31,415,926 EGLD, however as more transactions are performed, this quantity will drop.The eGold, or EGLD, native coin on the blockchain is utilized for network fees, staking, and rewarding validators. Elrond employs a secure proof-of-stake consensus mechanism, which requires nodes to stake their EGLD tokens in order to participate in the validation process.