Elrond Developer Incentives and Support
Many of the technological advancements discussed above will incentivize developers to build on Elrond Network such as:
- Blockchain Infrastructure (security, speed, low cost, decentralization, scalability, sustainable economic design for all network participants)
- Smart Contracts (30% gas as royalties, fast small, composable and upgradeable)
- Smart Account (ownership & functionality)
- Tokens and Transactions (low transfer fee’s, meta-transactions, true token ownership)
- Arwen Virtual Machine — best in class.
- Multiple contract language support
- With now over 607,000+ users this will further incentivize developers to build on Elrond Network
Below is the Eco-system adoption map that is currently building on Elrond Network.
Cross-chain interoperability & Elrond Bridges
One of the elements that continues to plague much of the blockchain distributed technology space is the lack of interconnectedness or interoperability. It’s imperative to create cross-chain communication and transactions to allow for less fragmentation or islands. Elrond allows for communication between chains for secure cross-chain transactions without the need for exchanges. This permits unlimited communication with external services. Elrond’s ecosystem strives for interconnectivity, the solution for smart contracts offers an EVM compliant engine to ensure interoperability by design.
Elrond’s Bridges enable the transfer of tokens from one chain to the other without the need for centralized exchanges, as well as the interaction with other smart contracts as discussed prior. The bridges are key for enabling liquidity to flow seamless through the Elrond Network, allowing any project the opportunity to leverage Elrond’s state of the art high throughput, low costs transactions and simplistic user experience.
HOW DO THEY COMPARE TO THE CURRENT MARKET LEADER AND THE FUTURE ETHEREUM 2.0?
Ethereum is the current smart contract market leader with security and decentralization sufficiently nailed down but not scalability. They have been in the works of attempting to scale for many years. It’s worth noting that execution has been far from Ethereum’s strong suit, with meme’s showing Vitalik (Ethereum’s founder) finally revealing ETH 2.0 at an old age. They were scheduled to release ETH 2.0 or Serenity, later this year, leveraging sharding, a scaling technique. With that said, just recently announced now it won’t be until the end of 2022. It appears that Brook’s Law which deals with software project management is playing out, “adding manpower to a late software project makes it later”. The false promises have been occurring since 2017. This isn’t an opinion it’s a fact. Ethereum has continually stated ETH 2.0 would be here but has failed to deliver. Execution is poor while Elrond’s execution is superior to all smart contract Blockchains in the space. No one has been able to execute in the speed & quality of Elrond. Most of what has been promised by others is live today. Also, they are very strategic in their sequential execution which is imperative for long term success.
Unfortunately, Ethereum’s initial design architecture limits the maximum transactions per second (TPS) or throughput it can mange on the main-chain to 3,200 TPS. This can be calculated based on a maximum of 64 shards at 50 TPS is equal to 3,200 TPS as discussed earlier. The Visa Network can process upwards of 55,000 TPS.
This architecture design limitation is why earlier this year they partnered with Matic now rebranded as Polygon, among others, which allows for scaling way beyond those numbers thus reducing the limitations of their first principle design flaw. It wasn’t a flaw per se as much as it was a limitation of understanding in terms of being able to create a truly complete foundational architecture solving the trilemma (Security, Scalability, and Decentralization). While this may sound like the perfect solution it certainly doesn’t come without its drawbacks or added complexities.
Polygon/Matic among others have rushed in to prove Layer 2 scalability solutions. Unfortunately, these solutions create complexity on User experience, adding multiple steps/transactions & increases risk of user problems (ie sending from Layer 2 to a non-Layer 2 compatible platform (funds are lost). Also, it brings into question security, while MATIC has mitigated this it still is not perfect. The security mitigation strategy used is best explained in a recent video discussing the concept of a commit chain vs. side chain.
Elrond solves Ethereum’s largest problems both today and when Ethereum 2.0 goes live it will still be superior due to its design architecture & significant advancements in technology (ESDT vs ERC-20, NFT’s, SFT’s, Smart Account Ownership), 30% built in royalties for Smart Contracts to attract the best developers, infinite scalability, 1st principle design architecture solving the trilemma, low cost barrier to entry validator node requirements, team execution, careful mechanistic design and economic incentives to create fairness for all participants on the network & best in class tokenomics.
Ethereum’s tokenomics are unlimited (inflationary) & while EIP 1559 proposes a burn to create scarcity it certainly is far from perfect or great. Elrond on the other hand has 31 Million fixed, with 17.4 Million outstanding & the minting is stopped entirely if the network adoption supersedes the inflation, as discussed in more detail above.
Ethereum 2.0 or Serenity is inferior even though not live today in comparison to the first & only live blockchain architecture with adaptive state sharding. Elrond network is the first to present a viable solution where all the three aspects of sharding — state, network and transactions — have been implemented at once. Combined with its “Adaptive” component, this novel architecture allows for dynamic network configuration to maintain a high level of security while scaling with demand. Ethereum 2.0 will have no adaptivity with consideration on the main chain but will in use a myriad of other scaling solutions that call into question elements that are difficult to model from a network risk standpoint.
Ethereum 2.0 looks to use POS instead of POW but POS requires novel design in order to optimize fairness for all network participants and the highest level of security. Elrond approaches the consensus problem with a mechanism called Secure Proof of Stake as discussed in detail above, which mitigates potential attack vectors when compared to Proof of Work, while also enabling large throughput, fairness for all validators and fast execution.
Elrond is poised to attract the best developers with both its high performance but more importantly industry leading built in 30% royalties to all DAPPS. The wallet difference of Maiar vs. Metamask will position itself with a higher likelihood of critical mass adoption. The team has built out a standard developer kit (SDK) to allow new Dapps to leverage the Maiar app through its one click connect feature. Every functionality and design element is thought about simplifying the end user experience. The everyday individual can now easily stake, participating in securing the network and share in the long term network transaction fee’s (video). The importance of user experience and simplicity can’t be overstated for critical mass adoption to occur. The end user experience needs to graduate past it being required to understand what’s going on vs. not needing to know (think the internet browser moment for the internet).
Business Execution and Expertise
This should not go underemphasized. When it comes to a groundbreaking technology flourishing, it can’t do so on its own. It requires education, marketing, world class communication, partnerships, collaborations, and incredible user interfaces that we have discussed in depth. Elrond is led by Beniamin Mincu who I believe may be one of the best assets to the success of Elrond Network. He is relentless in his ability to create connections and foster new relationships that will further the expansion and opportunities for adoption for the Elrond Network.
“It’s easier to say things than do them” — Beniamin Mincu
Beniamin Mincu has been fostering a close relationship with pro-crypto enthusiast Mayor Francis Suarez of Miami. He has met with him on multiple occasions.
Mayor Francis Suarez appears very much in support of helping with the expansion and adoption of the Elrond Network. There has been speculation discussing the possibility that they may in fact utilize the high speed and low cost capabilities of Elrond network to pay the workers of Miami in Bitcoin.
Beniamin Mincu over the last number of years have facilitated media appearances in the following, Forbes, Inc., Bloomberg, Yahoo Finance, The Block and others.
Recently Elrond Network was able to solidify a key partnership and commitment from Audi backed start up Holoride to build on the Elrond Network. Holoride turns vehicles into moving theme parks, through hyper-immersive experiences by combining navigational and car data with Extended Reality (XR). They have stated they will use the Elrond Blockchain technology and NFTs as a way to incentivize developers to bring more content to its in-vehicle XR experience.
I anticipate Beniamin Mincu to continue to foster and cultivate many strategic and valuable partnerships with existing businesses, governments, individuals and startups. All of these will facilitate the adoption and growth of the Elrond Network.
The marketing videos produced by Elrond Network are incredibly powerful and captivating. Beniamin Mincu is an incredibly deep and strategic visionary. He ensures to push the team and Elrond Network with incredible speed and progress but never at the expense of making mistakes. The plan is for the long term, with strategic decisions accounting for the next decade and further.
What if you could Take Back Time
Industry Risk, Network Valuation, Regulation & Governments
Investing in Smart contract Blockchains comes with substantial risk. Investors need to consider the complexity of the interwoven mediums of expertise required for success. Essentially they are attempting to be successful by navigating the following elements which is no simple task.
- Start Up’s (Forbes over 90% fail 2015)
- Experimental Disruptive Technology
- Game Theory & Mechanistic Design
- Economics & Financial Markets
- Governance & Behavioral Incentives
- Programmable Money
- User Experience & Design
- Networks
All facilitating and contributing to the disruption of the most powerful entities & industries in the world:
- Financial Sector(Banks/Mortgages/Insurance, derivatives, exchanges, payments)
- Supply chain/Logistics
- Art & Entertainment
- Content delivery
- Big Tech (Decentralized Social Media & Video)
- Politics/Government
- Financial Sector (Currency/Forex)
- Transportation (Decentralized “Uber”)
- Digital Gaming, Sports Betting, Casino & Lottery
Decentralized Autonomous Organizations (DAO) are all in a grey area of regulation but due to being decentralized, theoretically can’t be stopped without the shutting down of the internet, at least from an enforcement perspective. While governments have attempted and failed to stop its progression in many countries, it’s a delicate balance. I believe we are entering a period where governments will make or break the economical fate’s of their nations due to the $867 Trillion economic disruption opportunity recently reported by the World Economic Forum discussed in the introduction. If governments overtax or are unsupportive of these technological advancements other countries, in worst off positions will likely rise above them due to efficiencies that will arise. Governments and Nations willing to promote, encourage, and foster the disruptive technology will likely attract citizens of prosperity, increasing economic activity. Also, efficiencies and enhanced trust arising from the implementation of blockchain technology may be something we have never seen among government spending and accountability.
The blockchain could provide governmental accountability through transparency giving way to symmetry, a concept often discussed by world renowned author Nassim Nicholas Taleb. Our existing tax dollars are paid into an opaque asymmetrical governmental system, where they require full transparency and accountability of their citizens via tax returns, yet don’t assume the same accountability. Sitting officials essentially have little responsibility for their actions and are given preferential rules that allow for insider trading. The congressional bills are thousands of pages long with little repercussions if they happen to pass legislation favoring a lobbying campaign donor, that is not in the best interest of their citizens. Our existing governmental structure promotes corruption and conflicts of interest. While it may feel justified to be angry at governmental officials, they are merely outputs of a poorly designed mechanistic system that allows for this to occur.
As Taleb explains in his New York Times bestselling book The Black Swan, forcing skin in the game corrects asymmetry better than thousands of laws and regulations. The blockchain may provide accountability due to transparency, leading to a more deterministic governmental model design, rather than one riddled with conflicts of interest and special perks for those in power. The existing governmental system design, in conjunction with the Federal Reserve’s monetary policy, is causing the Cantillon effect to run rampant, leading to exacerbations in wealth inequality. This can be seen recently with the greatest wealth transfer occurring during the Covid crisis of 2020. From the perspective of big business all of this is best described as capitalism on the way up and socialism of losses on the way down, or ‘Cronysim’ as stated by Scott Galloway in a recent article. This promotes having no risk or skin in the game, thus promoting excessive systemic risk.
The invention of the internet and the interwoven technological protocols can be likened in some ways to what is unfolding currently in the blockchain space and the substantial risk of failure that will also likely unfold. There was originally 80 internet protocols. Today there are only 5. Vince Cerf and Bob Kahn invented TCP/IP back in the 1970’s. Tim Berners-Lee invented and was credited as the inventor of the world wide web, creating the first web page. The five technological protocols used today are:
- TCP/IP (Base Layer)
- SMTP (Email)
- HTTP (websites)
- FTP (File Transfer Protocol)
- WWW (Toolkit connecting everything together)
Cryptographic protocols and technological experimentation is still in its early day. The risk is worth noting that 95% of companies created during the internet boom time failed. It is very probable that many cryptocurrency’s likely won’t exist in the future. Mark Yukso stated the reason for this during a recent podcast is because any token that is a utility token means they have no legal rights to debt, equity or future cash flows. This is where I think one has to be cautious. I agree most will fail due to the high risk of technology and start ups but not because of the reason Mark Yukso states.
We are certainly in a paradigm shift and the one difficulty with humans is that we use our understanding of the old world and imprint them on the new world of understanding. Decentralized Autonomous Organizations, change the way organizational structures align incentives and value. This is in stark contrast to traditional hierarchical structures that are more similar to a pyramid. This is where I would agree more with Alex Mashinsky, CEO of Celsius Network, a triple unicorn who has started three billion dollar businesses.
Stating a “utility” token is worthless is an oversimplification because no rights to debt, equity or future cash flows, per Mark Yukso on his recent podcast. Some will be worthless but it won’t simply be because of this. Alex discusses here in a video, that the war is between centralization and decentralization. Centralized, hierarchical organizational structures are designed like pyramids to extract all the value to the top. The best interest is not aligned. Web 3.0 and Decentralized Autonomous Organizations change this as the value is an external element that is represented as a token or coin that values the size of the community. As an example ETH is valuing the size of the Ethereum community, everyday people are buying or selling ETH as an external measurement or barometer to measure the size and value of the community. Essentially for the first time your value to the community is measured by your contribution to the community, not by how many dollars or profits you can generate and extract out.
With traditional hierarchical business structures the main goal is how can you extract profits out of the pyramid to the people at the top. Alex, predicts that people will be entombed in their own pyramids, which I agree with. Those that provide the protocols, value and digital infrastructure to fuel Web 3.0 may end up being the most valuable assets in the world. This reasoning is very much supported by scientific papers attempting to value networks using Metcalfe’s law which states that 70% of the value of a network can be attributed using this metric. This was shown to have no correlation to Revenue, Costs, Business models, technology. The most valuable companies in the world are all networks, so I think it’s important to start to understand better how to value them, rather than just determine they are all “bubble’s”. While many continue to state Bitcoin as a bubble despite it being the fastest Decentralized Autonomous Organization to a Trillion dollar valuation may be using too much system 1 dominant reasoning. Social media has cultivated a world of superficial opinion and understanding as truth. Uber one of the largest networks, is valued at over $94 Billion yet have never turned a profit for over a decade. The world is lacking in context and relativity more than ever, nothing exists in a vacuum.
(Academic Paper: Mectcalfe’s Law)
With the understanding and reasoning as to why networks are so valuable, it may behoove us to then turn our attention to which networks are likely to thrive in the future. Rational choice theory, an economic theory assumes rational behavior on the part of the individuals decision making and thus will likely move individuals to participate in a network or ecosystem in which they are treated best and derive the most value. It’s understood that receiving the most monetary or material benefit is not the only element worth taking into consideration as satisfaction received could be purely emotional or non-monetary. A thorough analysis of networks should take this principle into consideration.
Attempting to value networks using traditional financial models will not work sufficiently. As is the case with all financial valuation models, depending on many factors determines which may be most appropriate to value them. Unfortunately, there are no perfect ways to value these networks as of now. As is the case with traditional financial models the best models will be debated over time. It’s worth noting that each network also may require alterations of models in order to best determine the approximate valuation. Bitcoin as of now appears to be best modeled via a stock to flow model among others. These models can be learned more from here via Plan B.
Paul Romer an American economist who won the Nobel prize in 2018 alongside William Nordhaus for ‘integrating technological innovations into long run macroeconomic analysis’ may give substantial insight into how things may play out with blockchain and distributed ledger technology. One of the concepts that is discussed in Paul Romer’s 1986 paper titled ‘Increasing Returns and Long-Run Growth’ was recently discussed by Mark Yukso during a podcast series “Bankless”. Mark states that this law helps to explains two primary principles. The first explains why all the car dealerships are in the same place, why there is always a Burger King across from McDonalds, why there is always a Target across from Wal-Mart, essentially concentration leads to greater wealth. The second principle states the best technology doesn’t necessarily win, it’s the first technology that gets critical mass, first. Mark further gives an example of this stating that there were two competing operating systems when it came to personal computers, DOS and CP/M. The technological advancements of CP/M was far superior, never crashed and stable. IBM decided to meet with the husband and wife who created CP/M but they stated they wouldn’t meet with them because they signed an NDA (non-disclosure agreement). IBM then went back to Seattle and signed up DOS, the rest is history. He then further explains that this represents that it’s not the best technology that wins but the technology that receives critical mass first.
The question then resides as to whether critical mass has been achieved with Ethereum or not. This concept is somewhat nebulous with respect to what critical mass means mathematically so it’s still very much in the debate stage in the smart contract blockchain space. I fall under the camp that in fact we have not achieved critical mass and that while Ethereum will continue to be successful I do not see it as the long term market leader. Ethereum is the most used block chain in the world currently. It settles more than $1 Trillion in transactions and hosts $300 Billion in assets. The infrastructure to support critical mass adoption is not present. This is obvious when high traffic times causes soaring gas prices, extreme complexity in user experience, and while Polygon/Matic may solve the scalability issues, it only adds to the complexity or more steps. As stated prior only around 2.8% of the world own cryptocurrency and I would say that possibly less than 0.1% use the cryptocurrency in the ecosystem it’s attached to derive value because of the extreme complexity that exists. Thus, in my opinion critical mass is very much open for the taking in the smart contract blockchain space. Mark Yukso has an incredible if not stunning career/track record so by no means should one weight my stance over his. It’s important to recognize that while history rhymes it doesn’t repeat exactly as it has in the past. This is why my stance is not congruent with Mark Yukso on this point, while valuing and agreeing on much of the insight he provides.
When it comes to investing though, one should always look to position their portfolio in a way that facilitates outperformance even if they happen to be wrong. This is why I invested MATIC now Polygon in the first week of February of this year due to them being what I felt as the most probable solution to Ethereum’s scalability issues. This position was taken as a pseudo hedge with respect to misperceiving whether or not critical mass adoption has or will occur with Ethereum. One should allocate position sizing with the understanding that any investment in disruptive technology comes with sizable risk. With that said, the asymmetrical return that Elrond Network poses is best understood by a recent example Mark Yukso gave on the Bankless podcast mentioned earlier, “20 steps taken in the office will take you to the opposite side but 20 exponential steps will take you around the world”.
Elrond Specific Risk
The risks of the industry discussed above all fall within the scope of Elrond’s Network specific risk. With that said I think it’s important to understand how the network has done since the Mainnet launch in late July of 2020. This may give insight into how they are navigating these complexities and the health of the network.
Elrond thoroughly test their Network prior to rollouts of new features. Elrond is the first Blockchain without downtime since launch, without rug pulls, or hacks. Most Blockchains have had downtime. Elrond has communicated that they care about the reputation of the network and put this at the forefront of their execution.
Elrond Network has been in a very in depth stress testing, security, and economics audits with a few companies that have done security audits for Apple, NASA, & DARPA.
This is vital for the long term success because institutions & governments will ask for the historical events and can audit it for themselves via the explorer blockchain. This is why while they have had what most would consider blazing fast progress, over 607,000 total accounts with around 375,000 accounts coming from the Maiar app launch in less than 4 months, they have continued to maintain the health of the network.
Investment, Valuation and Network growth of the Elrond Network
Investing in EGLD represents a shared portion of the network fee’s generated forever. It represents the value of the asset appreciation that will accrue to the network as DAPPS are built on the network as the technology attracts the best DAPPS because of the advanced technology (scalability, security, decentralization, speed & low cost) that enable ideas to come to life that can’t come to life on any other Blockchain due to technological limitations. It represents the capacity to participate in the security of the network through staking. This provides “yield” but could be best understood as a larger percentage of ownership within the network that has a fixed supply. Initially it’s paid out through a hybrid of network transaction fee’s and inflation. As the transaction volume of network fee’s increase as adoption continues to accelerate this means the % return will go higher. The moment the network transactions supersedes the inflation minting, all of it stops. 5,500 EGLD is minted daily, if the network were to collect 200 EGLD though transaction fee’s it would only mint 5,300 EGLD. Owning EGLD allows participation in governance of the network.
The valuation of decentralized networks will likely be the most valuable assets in the world. Unhindered by limitations of scalability will likely accelerate this as it’s currently the most significant limitation, along with the need to improve the end user experience. The reasoning is simple as the apps that we utilize day to day will likely function on these networks as they disrupt their centralized counterparts that will not be able to provide the value incentives to their users that the decentralized ones can. As of now Ethereum the market leader has a total 2,812 DApps built on its network. These are composed currently of the following categories:
The development rate of new DAPPS built on Ethereum though have slowed significantly since its peak in 2018. The reasoning is likely due to scalability issues and poor end user experience as can be seen here. This is unlikely to accelerate to prior 2018 highs, but rather continue to accelerate the adoption of Polygon/Matic integration with already over 178 DAPPS built on their network integrated on Ethereum, in less than 4 months as can be seen here.
The technological infrastructure of the Elrond Network is the most advanced when considering all of the elements of the trilemma, security, scalability, and decentralization, simply because the first principle design architecture which allows for long term sustainable success. Security is a function of time on a network and thus despite Elrond’s significant technological infrastructure advancements including secure proof of stake, Ethereum is superior as of now, having been time tested, although this is becoming less straight forward as the integration of scalability options becomes paramount. Decentralization is also superior as of now on Ethereum as this is also somewhat a function of time along with other variables. The issue though lies with the long term sustainability without having scalability and as to whether the Layer 2 solutions and other scaling issues will sufficiently suffice. These solutions call into question security with so much added complexity which is difficult to model and to a lesser degree decentralization due to the unique commit chain integration of Polygon/Matic.
Network effects are the best way to start to gauge and understand valuation of these blockchain distributed ledger networks. A study performed by NFX showed that network effects accounted for approximately 70% of the value creation in tech. This study was done on digital companies that were founded since the Internet from 1994 to 2017 and went on to become worth more than $1 Billion in valuation.
https://reddit.com/link/omdeux/video/ep45ozlqdub71/player
To help us understand the difference of Elrond’s network valuation trajectory vs. Ethereum will look at the unique account addresses that were achieved within the first 10 months of the Mainnet launch of their Blockchain.
Ethereum launched July 30, 2015, while Elrond Network launched July 30, 2020, exactly 5 years later. The unique addresses in 10 months for Ethereum totaled 277,124 vs. 605,411 for Elrond. With the majority of that growth taking place (73%) after the launch of Elrond’s extremely intuitive easy to use Maiar wallet Interface App on February 2021. This clearly demonstrates that their strategy of focusing on simplifying the end user experience is creating tremendous value with respect to network effects. The initial growth is more than 2X the trajectory of Ethereum in the same period of time.
Elrond’s social media growth has continued to accelerate with awareness as well, demonstrating other channels of network effects that will likely only continue to accelerate further adoption.
When you consider all of the significant technological advancements in infrastructure, design, and economics, Elrond Network is undervalued. Add to this best in class execution, speed of account adoption from intuitive, simplistic user interface Maiar App, high staking % rewards and network effects, it should be considered significantly undervalued. Superior execution has been demonstrated in the short amount of time and best in class tokenomics with consideration of long term sustainability from all aspects. Elrond was also rated as having the 2nd strongest community in all of crypto just behind Cardano. I would rate Elrond Network as a strong buy, especially considering its relative valuation to its peers. Elrond has compiled a detailed comparison of some of its peers for further insight.
How to participate and Invest in the Elrond Ecosystem and DeFI 2.0
In order to invest and participate in future investment opportunities that will arise within the Elrond Network eco-system, one must first download the Maiar application. I have created a visual to help one understand how to get involved if they so choose. The reasoning for this is that getting involved in cryptocurrency is not particularly straightforward for most. The top staking providers to earn 14–16% in helping to secure the network can be learned more about here. Elrond will be launching the Maiar Exchange which will be fueled by the native token of the exchange MEX.
The Maiar Exchange will be launching in late July. This will be the first Decentralized Exchange (DEX) to demonstrate the full value proposition of decentralized finance with an intuitive user interface, low cost, low latency, decentralized and high throughput blockchain. The Maiar exchange will bring high amounts of liquidity with its highly incentivized bootstrapping MEX tokenomics. The MEX Tokenomics & Distribution Model are 100% community owned. The reason for Binance’s meteoric rise was simply due to lowered cost in comparison to Ethereum high gas fee’s. The Binance Smart Chain, a fork of Ethereum has only 21 nodes (centralized) and a very complex user interface.
Pancake Swap, Binance’s DEX, priced transactions at $.50 in comparison to the Maiar Exchange which will be 25X cheaper at $.02. The user experience of the Maiar DEX will be vastly different, intuitive interface with minimal steps & doesn’t require a 15–30 minute video explanation to use it. With their successful launch of their MAIAR App they will have roughly 400,000 users on Maiar to partake immediately in providing liquidity to the launch of the Maiar Exchange. Another very well thought out, sequential step of strategic importance that will lay the foundation for a successful launch. The concepts of how the DEX works is outlined here for those interested in participating.
The details for MPAD which will allow for investing in new projects of only the highest quality that the Elrond Network team have vetted and plan to fully support is coming soon. Also, Elrond will be building out the full DeFi 2.0 Module, a full autonomous banking module, as can be visualized below. This is a Multi-Trillion dollar addressable market opportunity.
Conclusion
Elrond Network has all of the interwoven pieces for success now and into the future. They have the most advanced state of the art technological design and infrastructure of any blockchain live today. They have meticulously and strategically skipped no steps to allow for long term success. They appear ready and positioned at the right timing to capture the ever-growing adoption of distributed ledger blockchain technology for individuals, startups, businesses, banks, and nations. The intuitive and simplistic Maiar app will allow for critical mass adoption outside of the small minority of hardcore blockchain enthusiasts. A world class team capable of handling any problems or challenges that may arise. Leveraging one of the strongest communities within the blockchain space which is essential for success. All led by their extremely intelligent, world class communicator and business savvy CEO Beniamin Mincu. The potential future market leader of the smart contract blockchain industry is live today.
A special thanks to my twin brother Michael Kress. A software engineer who provided in-depth insights in the creation of this research article and investment thesis. A special thanks to the incredible Elrond community and the world class Elrond Network Team for helping to create a more equitable world that has the potential to benefit humanity in ways no other disruptive technology has in the past.
Also, if you would like to keep up with future updates on Elrond Network from myself you can do so here on twitter @WesleyBKress and my twin brother @MichaelGKress
Disclosure: I am/we are long EGLD-USD, CEL-USD, MATIC-USD.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose cryptocurrency is mentioned in this article.
Additional disclosure: I am long EGLD — Elrond Network, MATIC — Polygon, & CEL — Celsius Network. I have no affiliation with Elrond Network but deeply aligned with their vision and blown away by the asymmetrical opportunity of investing in EGLD.
Source : Medium @32Prosperity
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