Bitcoin : Elrond (ERD) launches its mainnet with a new DeFi application

Mainnet launch

The Elrond Project (ERD), very prominent lately, has launched its mainnet Thursday July 30. The mainnet was accompanied by a new decentralized finance (DeFi) application and a series of new features. ERD token holders will be able to start staking.

Elrond wants to redefine public blockchain infrastructure. The project claims to be the first to use Secure Proof of Stake (SPoS) to achieve both speed and security.

Mainnet launch follows successful testing of testnet with over 1500 knots in 29 countries. Elrond’s blockchain even peaked at 260,000 transactions per second.

👉 To find out more: What is staking and what are its particularities?

A rocket called Elrond

According to estimates, 40,000 users have already registered on the waiting list for the new mobile and web application called “Maiar” which will allow ERD storage, lending and staking.

The team plans to change the number of ERD tokens by reducing the supply of 20 billion to 20 million units. In addition, the issuance rate will gradually decrease by around 10% over the next 10 years until no more tokens are issued.

Elrond’s token, soared this month as the mainnet launch nears. Since the beginning of July, the DRE has jumped by about 400% to reach a historic high on Monday at 0.029 dollar. Elrond trades at 0.024 dollar at the time of this writing with a total capitalization of $ 313 million.

Evolution of the ERD price in recent weeks – Source: Trading View

In addition, Elrond will be added to the Bitfinex exchange platform in a fortnight’s time. The platform also plans to make ERD token staking accessible at the end of August.

Thus, announcements and good news follow one another for Elrond and the project is really on the rise. The next Bitfinex listing and the decrease in token supply could accentuate the uptrend of the ERD token in the next weeks.

👉 Read our fact sheet: Elrond (ERD), the Internet-wide blockchain

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About the Author : Florent David


I started to discover the basics of blockchain and Bitcoin technology with Satoshi Nakamoto’s post: A Peer-to-Peer Electronic Cash System. The disruptive and controversial aspect of the subject quickly fascinated me!
All articles by Florent David.