Sibiu-based company Elrond Network, which has developed a new blockchain technology and launched a digital currency – EGLD, has announced that it has exceeded the threshold of a market capitalization of $ 5 billion in the context in which the price of a currency is about $ 270 .
The growth also takes place in the context in which Elrond is preparing to launch a DeFi application (ie Decentralized finance).
“Based on Elrond technology, which is 1,000 times more scalable and efficient than other blockchains such as Bitcoin or Ethereum, the Maiar Exchange platform opens up a significantly new, more efficient way to change peer-to-peer value.” Anyone will be able to trade digital securities and assets, instantly and at negligible costs. This is the beginning of a new era for digital finance, “said Beniamin Mincu, CEO of Elrond Network, according to a company statement.
The start-up is also preparing to launch Maiar Launchpad, “a platform that allows anyone to invest in strategic projects in the Elrond ecosystem.” “Maiar Launchpad is an incubator for projects using Elrond technology. Through this platform, the number of applications and products in the Elrond ecosystem will increase in the coming months “added Beniamin Mincu.
According to Elrond, after one year of launch, the network has more than 750,000 users, processed more than 8 million payment transactions and other types, and the application has exceeded half a million users in less than 6 months since its official launch. The company previously announced that it wants to reach one billion users.
The company hopes that with the launch of the new Maiar Exchange and Maiar Launchpad platforms, “a new wave of global adoption” will follow.