Elrond Network, a blockchain platform has begun a new phase by transforming into an entirely new protocol dubbed MultiversX as unveiled at its X-Day event in Paris, France.
The Co-founder and CEO of Elrond Network, Beniamin Mincu gave the news on Twitter and according to him, the purpose of delving into the MultiversX is to harmonize the use of blockchain, Web3, and the metaverse with the aim of creating a new business.
Today, a new chapter begins.
A bridge between worlds, at the intersection of worlds, and across worlds.
This is our new challenge. Our new vision.@ElrondNetwork transforms and expands into MultiversX. pic.twitter.com/lpk8qvTu1I
— Beniamin Mincu | xday.com | Paris. 3-5 Nov 🔥 (@beniaminmincu) November 3, 2022
The MultiversX is a blockchain network that is highly scalable, secure, and decentralized, allowing users, businesses, society, and the new metaverse facilitators to access radically new applications.
The X-day will bring together digital creators, partners, government personnel, and blockchain enthusiasts for a once-in-a-lifetime experience that will reverberate throughout the blockchain ecosystem and beyond.
“We’re thrilled to inform you that Elrond is transforming and expanding into the MultiversX as of today.” With the addition of this new technology, our product offering expands to include a new constellation of projects. (…) We want to encourage people, companies, and countries to create new applications,” said Beniamin at the X-Day event.
Mincu received so many negative comments on his Twitter page after he announced the news. The negative feedback seems to stem from the fact that they believe the project is a drain of more resources. Some individuals are however optimistic about Elrond’s launch into MetaversX.
“Congradualtions to Beniamin and all the team. A new chapter begins, a new vision, a bridge between worlds, an expansion through the unification of them all”, says a Twitter commenter @crypto_mercy.
The Performance of Elrond Over the Years
The Elrond network is on a journey to deliver the most scalable, fast, and secure blockchain platform for real-world applications, with a 1000x performance improvement over blockchains such as Bitcoin or Ethereum. Elrond has also adopted the Proof-of-Stake (PoS) model so as to eliminate computational waste and ensure fast solutions.
The Elrond network is the first to present a viable solution that incorporates all three aspects of sharding – state, network, and transactions at the same time
Elrond Network recently partnered with Opera Crypto browser, one of the world’s leading Web3 browsers so as to allow Opera users access to the Elrond ecosystem. Elrond assets and applications built on the Elrond network will be available to users of Opera. As a result, Elrond will benefit from exploring Opera’s user base and expanding the opportunities for blockchain adoption.
