Elrond EGLD, the native currency of the Romanian blockchain network Elrond, has been added to the list of cryptocurrencies available in Revolut, making it accessible for trading directly from the popular fintech app.
Launched in July 2020, Elrond presents itself as the internet-scale blockchain network that serves as the infrastructure for Web3 payments, DeFi and the new Metaverse economy.
Elrond also claims to be the second largest Proof of Stake blockchain in the world, after Ethereum 2.0, with 3,200 validators spread globally. The protocol is also the first carbon-negative European blockchain, offsetting more CO2 than required to operate its advanced Proof of Stake network.
Elrond was designed from the ground up to solve the performance limits of current blockchain iterations (Bitcoin, Ethereum) and, in its current configuration, can process 15,000 transactions per second, with the ability to scale beyond 100,000 TPS through the use of its sharding technology.
The listing on Revolut makes EGLD available to the fintech’s over 20 million clients.
“The most innovative and disruptive startups in the fintech field gravitate towards crypto, bringing along unique talent pools and fully engaged communities. When you add to this a vision that transcends its own product and industry, you get a game changer. Elrond is such a project. That’s why we are excited to be able to offer EGLD to Revolut’s customers and help them accomplish their vision of an inclusive global financial system,” said Beniamin Mincu, Elrond Network CEO.
Elrond also has its own digital wallet and payments app – Maiar.
The price of EGLD has been hit by the decline of the crypto market this year. EGLD is currently trading at USD 55-60, down from USD 200 in early April, according to Coinmarketcap.com.
(Photo source: Facebook/Elrond Network)