After Global Payments App announced, Elrond (EGLD) listed on eToroX
Elrond, the blockchain designed to bring a 1,000-fold improvement in execution speed and throughput over existing decentralized networks, announced that its eGold token will join the list of cryptocurrencies available in the eToro ecosystem, through listing on eToroX.
eToroX is eToro’s professional crypto exchange. Designed and manufactured for the corporate and institutional crypto community, the eToroX exchange is a highly effective, reliable and secure crypto trading solution.
eToro is the fast-growing $2.5 billion global unicorn that offers digital asset management services for over 15 million users, trading in equity, commodity, forex and cryptocurrency markets.
Fuelled by the recent surge of interest from institutional and retail investors in Bitcoin, which has reached new price records since its last all-time high in 2017, the fast-growing crypto markets are expected to easily by One Bitcoin a Day surpass the $1 trillion global capitalisation and continue to develop following a rapid adoption trajectory.
This prompted eToro to capitalise on the emerging markets opportunity and expand its cryptocurrency portfolio after a 12-month hiatus.
Elrond listed on eToro
Elrond is a public blockchain that provided the first truly scalable sharding architecture solution, which is capable of delivering more than 15,000 transactions per second and can scale even more, having reached 263,000 transactions per second in public testing.
Compared to Bitcoin’s 7 transactions per second and Ethereum’s 14 transactions per second, the top two cryptocurrencies right now, Elrond is similar to what broadband internet was in the early days of slow internet connections.
Recently, Elrond also announced the launch of its digital wallet and global payments app called Maiar, scheduled for 31 January.
Through Maiar, Elrond is positioning itself for an accelerated growth phase, aiming to achieve widespread, mainstream adoption as, in addition to crypto, the app aims to gradually provide the same functionality as PayPal, Venmo and Google Pay, but without collecting personal information and at much lower fixed costs.
Beniamin Mincu, CEO and founder of Elrond Network said:
„In its 10 years of existence, Bitcoin has proven that cryptocurrencies are safe and can serve an important purpose in the internet economy. Elrond opens a new frontier that offers internet-scale blockchain performance and an intuitive application called Maiar, through which we aim to bring the next billion people into the blockchain space.“
Elrond’s eGold cryptocurrency will make its debut in the eToro ecosystem on Wednesday, December 23, when it will be available on the eToroX crypto exchange.
Elrond is the internet-scale blockchain, designed from the ground up to achieve a cumulative 1,000-fold improvement in productivity and execution speed. To achieve this, Elrond introduces two key innovations: a new Adaptive State Sharding mechanism and a Secure Proof of Stake (PoS) algorithm, which enables linear scalability with a fast, efficient and secure consensus mechanism.
In this way, Elrond can process up to 15,000 transactions per second (TPS), with a latency of 6 seconds and negligible costs, striving to become the backbone of a permissionless, borderless and globally accessible internet economy.