Elrond mainnet is launching itsfirst application and brings changes to the economic model
The expected launch of the Elrond blockchain ended without problems. The network is now working, and has introduced its first app called Maiar
A new blockchain model changing the financial world
Elrond has finally launched a network for its blockchain after conducting a thorough stress test of its test network. The test network ran smoothly at very high speeds, reaching a maximum of over 260,000 transactions per second, and was distributed across 1,500 nodes across 29 countries and 50 shards.
Elrond is a scalable blockchain network that aims to provide a decentralized alternative to the existing global economic infrastructure. The blockchain can support much higher transactions per second (260,000) than Ethereum (15) and Bitcoin (5).
The launch of the Elrond network has made changes to the economic model of its own cryptocurrency. The new model has reduced the total number of tokens for Elrond tokens (ERD) from 20 billion to 20 million. The token issuance rate will decrease from 10.8 percent for the first time until tokens are issued in 2011.
The network has also launched its first app called Maiar. Maiar has a universal utility that includes stacking, crediting, and spending ERD tokens.