Elrond (ERD) Mainnet Launch Date Revealed

Elrond (ERD) Mainnet Launch Date Revealed

Elrond CEO, Beniamin Mincu recently announced that the Elrond (ERD) mainnet would go live on July 30, marking a new phase for the scalable, Secure-Proof-of-Stake (SPoS) blockchain protocol.

Elrond Mainnet Launch Date Revealed

Elrond, a highly scalable enterprise-grade distributed ledger technology (DLT) project is poised to roll out its mainnet on July 30, 2020. The project’s CEO, Beniamin Mincu confirmed yesterday.

Dubbed “Zero to One,” the mainnet promises to usher in a new era for the Elrond ecosystem. The announcement stated that over the next four weeks, the Elrond team will announce “new exciting partnerships, increasing Elrond’s exposure and momentum in preparation for the mainnet launch.”

In addition to disclosing the date for the mainnet launch, the project announced that its Genesis Staking program was open again to users seeking to delegate their ERD holdings for rewards. Before the mainnet goes live, Genesis Staking on-boarders are being rewarded by the protocol for securing the network with 25% APR – 29% and 36% for delegators and validators, respectively.

The project witnessed all its Genesis Staking 2.0 slots get filled within approximately 4 hours after the start of the service, signifying the strong demand among investors willing to stake ERD for rewards.

Hustle Season for Crypto Projects

The July 30th launch of the Elrond mainnet is not the only highly-anticipated major project upgrade due in the near term.

Cardano’s eagerly-awaited Shelley upgrade is inching closer and is expected to go-live in August this year. Of note, the Cardano ecosystem has been extremely busy lately, forging new partnerships and unveiling tech upgrades to make the platform ready for the Shelley phase.

The recent steep surge in the price of the ADA altcoin can be attributed to major developments such as the partnership with Coinbase exchange for secure staking, and the alliance with blockchain travel platform Travala.com, enabling ADA holders to spend the digital currency at more than 90,000 destinations across the world.

Similarly, the Ethereum developer community is burning the midnight oil to ensure a smooth transition to ETH 2.0.

In the latest update, BTCManager reported on June 30, that Ethereum’s first-ever multi-client testnet, Altona, is now live.

Aisshwarya Tiwari

Aisshwarya is currently working as the Chief Editor at crypto.news and holds more than 4 years of experience in the digital assets industry. He holds an undergraduate degree in Commerce with Honours and a post-graduate diploma in Liberal Studies. Before entering the crypto industry, Aisshwarya worked as an SAP Consultant for a global IT firm. He also cleared the CFA Level 1 exam before pivoting to the crypto industry due to its novel and exciting propositions.