What is Elrond egld token?

Elrond (EGLD) is the native cryptocurrency running on the Elrond network. Elrond is a high-performance and decentralized blockchain network. The EGLD token is used to carry out transactions on the Elrond network, ensuring and promoting the security of the network.

The EGLD token is used for various purposes on the Elrond network:

1. **Transaction Fees:**
EGLD token is used to pay for every transaction made on the Elrond network. This is important to protect the network's resources and prevent exploits.

2. **Delegation and Staking:**
 The Elrond network allows users to contribute to the network by staking EGLD tokens. This is important to increase the security of the network and support the consensus mechanism required to process the blockchain.

3. **Smart Contracts:**
Various transactions can be performed using smart contracts on the Elrond network. The EGLD token is used for the gas fees required to run these smart contracts.

4. **NFTs:**
The Elrond network supports the creation and trading of non-fungible tokens (NFT). The EGLD token can be used for the creation and trading of NFTs.

5. **Defi Applications:**
The Elrond network supports various DeFi (decentralized finance) applications. The EGLD token can be used for the underlying asset or transaction fees used in these applications.
The Elrond network is known for its "Adaptive State Sharding" (ASoS), a unique consensus mechanism that provides high speed, low costs and security. The EGLD token is one of the core components of the Elrond network and is important for supporting the functioning of the network.

6. **Development Fund:**
The Elrond network has established a development fund to provide support to developers. The EGLD token can be used to finance this fund and promote projects.

7. **Investment:**
 The EGLD token can also be used as an investment tool for investors. The unique technological features and growth potential of the Elrond network may lead to an increase in the value of the EGLD token.

8. **Community Involvement:**
 The Elrond network organizes various incentive programs to encourage community participation. The EGLD token can be distributed as a reward for community members to contribute to the development of the network.

The EGLD token is one of the core elements of the Elrond network and is used to support various functions of the network. With the growth and adoption of the network, the value and usage of EGLD may also increase. However, before investing in cryptocurrencies, it is important to understand the risks and do your own research.