As you know, Elrond is one of my favorite projects in the crypto space. I have spoken with the CEO, Beniamin Mincu on the podcast and have been relentlessly sharing their updates and chart. Many members starting buying the coin at 15 and 22 sats, which has been hugely profitable. I figured it was time for an update, as they have made tremendous progress since last I profiled them in the newsletter.
Elrond is one of the rare projects which sets a new trajectory for the entire blockchain space.
After more than 2.5 years of work, they have built one of the most advanced networks out there. The network is live, and can now process more than 15k TPS, with 100x lower transaction cost than Bitcoin or Ethereum. Think about that for a second. The recording of their mainnet event can be watched here:
On Saturday, they have just unveiled Maiar, a simple and beautiful app which is positioned to be the application that will take crypto to the mainstream. You can check it out here:
It’s exciting, built on Elrond, and going through a rapid beta iteration cycle.
Last but not least, Elrond has made a strategic change to their token economics. What this boils down to for now is: from 20Billion ERD, they have moved to 20 Million eGLD. eGold or Elrond Gold seems to be the simplest and most powerful metaphor that could convey easily to everyone what Elrond intends to be.
With the internet scale blockchain network they have built, Elrond intends to create a global, transparent, non-inflationary financial system. With Maiar they intend to make this new digital economy available to anyone in the world with a mobile phone. eGold will thus be the scarce store of value that will power their entire ecosystem.
Exciting times ahead for Elrond. They have an upcoming Bitfinex listing, Crypto.com is here, and I expect their presence in the US to grow significantly.
Here is my interview with Beniamin Mincu, in case you missed it.