Blockchain-centered firm Elrond has announced a new partnership with payment provider Utrust, which makes its ERD token accepted in close to five mln online stores.
The ERD price remains up 10 percent after surging on the news about the Swipe tie-up that allows the token holders to use it with VISA cards.
Elrond’s scalability is pitched as the main selling point that gives it a competitive advantage over other proof-of-stake blockchains.
Because of something called "state sharding", Elrond is believed to "bring 1000x improvements" over existing competitors, which are compared to dial-up internet.
With the new Utrust and Swipe partnerships, the much-coveted mainstream adoption will be off and running.
Elrond relies on arbitrarily selected validator nodes—which are incentivized by a hefty 37 percent annual yield—to maintain the security of the network.
However, the network’s ability to reach a sufficient level of decentralization and solve the "Blockchain trilemma" remains in doubt.
Hack me if you can
Back in June, the network pulled off a PR stunt by offering a $60,000 prize to anyone who could wreck its blockchain.
After successfully passing the stress test that lasted 15 days, they were ready for the mainnet to go live on July 4.
The token’s price has so far surged by more than 1,000 percent since the launch of an initial exchange offering (IEO) on Binance in July 2019—when it was trading at just $0.00065.