After a comprehensive review of various jurisdictions, the founders of Elrond Network recently selected Liechtenstein as the best location for the establishment of the Elrond Foundation.
The Elrond Foundation Vaduz is a non-profit foundation based in Liechtenstein, which is supervised by the Liechtenstein Foundation Supervisory Authority (STIFA) and serves the purpose of supporting and promoting the development of decentralized network structures, artificial intelligence and other advanced and forward-looking technologies in general and the Elrond network in particular.
The Elrond Foundation is therefore an important pillar to ensure that not only the Elrond Network, but decentralized blockchain-based networks in general, continue to grow and thrive and that the most promising and advanced projects in the blockchain space in particular receive the necessary support and funding.
Elrond Network was founded in 2018 by Beniamin Mincu, Lucian Todea and Lucian Mincu and is currently one of the 40 largest blockchain projects in the world with an estimated effective market capitalization of the EGLD token of around USD 2.8 billion, which is constantly growing(https://coinmarketcap.com/currencies/elrond-egld/). The Elrond network sets probably the highest standard in terms of blockchain performance, as it is able to scale transaction processing to over 100,000 transactions per second (TPS), at a transaction cost of $0.001 USD, while at the same time every transaction, NFT and DeFi dapps running on Elrond is fully carbon negative and thus has an additional positive impact on the environment during operation. For comparison: Bitcoin can only carry out 5-7 transactions per second, Ethereum around 15 transactions per second. The Elrond network has already achieved a remarkable degree of decentralization, with 3,200 nodes located in different countries around the globe, ensuring the security of the network. In terms of adoption, Elrond has over 700,000 wallets in total, with 445,000 users of the Maiar app built on the Elrond network, and 82,000 users using the native EGLD token, processing an average of over 30,000 transactions per day.
We look forward to advising the founders of Elrond Network and the Elrond Foundation on the further development of the Elrond Network and other projects.
8|2021