A new Romanian unicorn is born today. Elrond has reached $1 billion market capitalization.

„We just reached $1 billion market cap. A new Romanian unicorn is born today. Insane journey. Great things yet to come 🙂 Be ready for Maiar launch on Sunday,” wrote on linkedin Daniel Serb, Head of Business development at Elrond Network.

What is next?

With a live internet-scale blockchain, a hard digital money circulating, and an intuitive application that will be launch in the next couple of days, „we will be truly ready to tokenize all assets, unlocking a new level of fluidity and granularity”.

Stocks, bonds, local fiat currencies, global digital currencies, and all titles of ownership, will be encoded and secured via blockchains, in an intuitive mobile app – Mayar.

What to expect from Mayar app?

„Mayar is an intuitive application, dramatically simplifying experience and onboarding the next billion people to this new financial system.  Imagine you could have all financial services in one application, universally accessible to anyone, anywhere, with a mere mobile phone. That would open a new phase for the global economy with new modes of value creation, instant value transfers, and universal access,” said Beniamin Mincu, CEO of Elrond Network.

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Elrond is a distributed transactional computation protocol which relies on a sharded state architecture and a secure Proof of Stake consensus mechanism. While most other blockchain networks require custom hardware and high energy consumption, Elrond runs on average computers.

By employing sharding, a method of parallelizing data & transactions processing, Elrond’s performance will scale up with the number of computers joining the network, reaching more than 100.000 transactions per second (263,000 TPS in public testnet) – at a cost of only $0.001 per transaction – while growing increasingly decentralized.