Since its birth in 2019, the Elrond project has stood out for its appetite for victory. The company is constantly expanding its crypto solutions to all sectors of the real economy. Initially enhanced with sharding, a “simple” layer 1 protocol, it quickly built up a complete and efficient ecosystem.
first with your native cryptocurrency eGOLD, then With your DEX Maier Wallet, Elrond lays the foundation for a crypto trading infrastructure. From there, strategic partnerships and acquisitions are linked in a hegemony frenzy. In line with its objectives, Elrond today announced the acquisition of the world’s #1 in crypto payments: UTrust. The consequences of this can be huge.
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Utrust Elrond joins the team and solidifies his leadership position
Needless to say, Elrond Network claims to be more than blockchain technology 100,000 transactions per second, at negligible costs (on the order of $0.001). Even if everything isn’t perfect yet, in theory a layer 1 is extremely solid and effective, intended to serve as the backbone of the A new affordable, fast and highly efficient financial system,
With the acquisition of Utrust, elrond Colors 2022 for e-commerce announced. The protocol is now shifting into high gear to serve as the basis for the most comprehensive crypto payment solution on the planet. But as is often the case with Elrond, if the objectives are clear, The maneuver hides a revolutionary innovation, to say the least.
The best 3.0 payment method would be crypto
The first part of the development proposed by this merger is largely of a commercial nature. It’s about making payments faster, cheaper and more secure. using the LA Technology Blockchain Elrond, they will now be completely and basically digital. The condition of providing users with a tool tailored to the needs of globalized commerce, wherever they are on the planet. and many more …
” In the best case, Payment must be made almost instantly, globally and at negligible cost. Our primary goal is to enable merchants around the world to achieve this. The second product we’ll be working on with the newest addition to the Elrond family is Merchant Yield, a payment processing solution defy type Which will provide a refund instead of asking traders to pay a percentage of the value of the trade. It is hard to underestimate the implications”.
Beniamin Minaku, CEO of Elrond Networks.
A payment method that turns user fees into a new source of income
In a traditional economic paradigm, this idea may seem redundant. In fact, how can cost be a benefit? But for the crypto-addicts we are, the equation is not as insoluble as it seems. statement of the CEO ofelrond provides us with an important clue. Payment processing will be incorporated into a DeFi type protocol.
While waiting for the technical details, speculation is rife about this new source of income and its brand new “Merchant Yield” for traders using the uTrust solution. there’s a lot to think about with L’architecture POS (Proof of Stake) du Protocol, the fee can be collected in a native cryptocurrency, then delegated to secure the network. Or reinvested in a dedicated pool with returns in stablecoins.
“The idea of turning cost-to-payments into an income stream seemed as crazy to us as anyone who first thought about it. After exploring the idea with Elrond, we not only realized that did that it was possible, but it was also This was the inevitable future of payments. That is why we have decided to join forces and accelerate the implementation of DeFi payments.”
Sanja Kon, Pdg D’Trust.
Using the Elrond blockchain technology, Utrust is opening a new chapter in Internet commerce for merchants around the world. Thanks for utrust, Elrond is positioned as a world leader today Crypto payments, and our centralized economies, continue to lead the way in upgrading to a freer, more attractive and fair version 3.0.
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