Elrond Network is one of the recent and most promising start-ups in the blockchain world. Elrond is a Romanian start-up and crypto geeks already have high expectations from this technology company which was established in 2018 in Sibiu, Romania. But Elrond is much more than a crypto company. In fact, its founders don’t even talk about themselves as a crypto company, though the company has its own crypto coin: eGOLD (EGLD). On Sunday, January 31st, Elrond launches Maiar app, its first major product based on the blockchain technology platform they developed.
Elrond launches Maiar app, the digital wallet of the future
On Sunday, January 31st, Elrond Network launches Maiar app, which, according to the dedicate app page, is a digital wallet and global payments app that allows you to exchange and securely store money on your mobile phone.
As the company describes its product, you can use Maiar app to send and receive money near-instantly, to and from anyone around the world by just using a phone number or herotag.
A herotag? Yes, indeed. You might not want to reveal your phone number to a stranger or you don’t want to reveal your phone number to anyone else except your closest friends and relatives. If this is the case, you can use what the developers behind Maiar call a herotag.
Where does the name Maiar come from?
As the company explains, The Maiar (singular: Maia) are among a class of beings from J. R. R. Tolkien‘s high fantasy legendarium, like Lord of the Rings. Being of divine origin and possessing great power, the Maiar can wander the world unseen or shape themselves in fashion of Elves or other creatures. Maiar had great skills of hand and mind but were cloaked in the guise of men, seemingly old but of great vigour. Their mission was to guide elves and men by gaining trust and spreading knowledge, not by ruling them with fear and force. Gandalf the Grey (Olórin or Mithrandir; later Gandalf the White) was one of most known Maiar.
Does it appeal to you? Maybe it’s better to hear it from Lucian Todea, Co-founder and COO of Elrond about Maiar’s functionalities and how you can use the Maiar app.
Maiar digital wallet will be something similar to Revolut or PayPal, except for the fact that the transactions are done almost instantly and the cost per transaction will be as low as $0.001.
The speed of the processing and calculations is what makes the blockchain technology developed by Elrond so much attractive. As a comparison, while Bitcoin platform processes around 7 transactions per second and Ethereum 14 transactions per second, the Elrond platform is capable of processing 15,000 transactions per second. This is 1,000 times faster.
Maiar is the product which we believe will put Elrond platform on the map of the blockchain world for good. From January 31st onward, the sky will be the limit for the Romanian company.
Elrond Network on its path to become a Unicorn
The company’s market capitalization recently reached USD 1 B, as the value of EGLD exceeded 60 USD, and specialists start thinking about the second Romanian unicorn after UiPath. In fact, UiPath has recently become a decacorn, but still it would be quite a performance for this promising blockchain technology company.
Are the passionate guys behind Elrond get the unicorn status for their company? We hope so and they deserve it so much. And, don’t forget, their first major product, Maiar, is launched on Sunday, January 31st.