Morningstar Ventures is investing $ 15 million in projects that build on the Elrond network
Morningstar Ventures is investing $ 15 million in projects that build on the Elrond network
[press release - Dubai, Uae, 13th October 2021]
Morningstar Ventures , the dynamic accelerated ambitious ideas in the blockchain area, has an investment fund in the amount of US-Dollar announced that is aimed at projects that are built with the Elrond blockchain technology, as well as a new strategic elrond-linkator in Dubai.
Morningstar Ventures is a blockchain innovation company that drives the spread of decentralized technologies through strategic placements in startups that supports it with financing, advice and building ecosystems.
Elrond Network is the blockchain on the Internet scale, which can currently process 15,000 transactions per second and thanks to its groundbreaking adaptive state Sharing technology, which enables scaling with demand by adding new Shards as required, scaling over 100,000 TPS.
The platform for execution of Smart Contracts is CO2 negative by compensating for 25 % more CO2 than your network of 3,200 all over the world is responsible. This makes the ELROND network a really sustainable, decentralized and high-perfect blockchain infrastructure for Defi, NFTS, IoT and the new internet economy.
"Elronds quickly developing blockchain technology on the Internet scale is perhaps the most advanced in this area, which offers Elrond an asymmetrical opportunity to quickly catch up with the largest blockchain ecosystems and maybe even exceed." said Danilo S. Carlucci, co -founder and Chief Investment Officer from Morningstar Ventures. "We are very happy to take this opportunity and work with the hardest working team and the most committed community."
Morningstar Ventures is ready to mobilize considerable resources to raise awareness of opportunities in the Elrond ecosystem, and will invest $ 15 million in disruptive decentralized projects that are built with Internet scale technology.
The first project that receives a strategic placement from the Morningstar Fund is Holorid , the extended reality of Media-platform-Audi supports the new dimensions for every car The use of virtual reality, in-motion sensors and haptic feedback devices, with a fair, transparent and sustainable content, is looking for the ELROND blockchain.
The Incubator Elrond Dubai from Morningstar Ventures will focus on taking strategic opportunities for the Elrond ecosystem in the United Arab Emirates and the entire region of the Middle East and North Africa (MENA), where blockchain technology finds a rapidly growing interest on institutional and state level.
"The explosive growth of the Elrond ecosystem happened with an unstoppable team building technology on the Internet scale and an amazing community that supports them. Now large actors such as Morningstar Ventures are considering significant long-term commitments that aim at the quick introduction of our technology." said Beniamin Mincu, CEO of Elrond Network. "This signals the beginning of the next explosive growth phase for the Elrond ecosystem, in which motivated builders will use high-performance devkits to create innovations at the top of the blockchain super cycle."
About Elrond
Elrond is the blockchain on the Internet scale, which was developed from scratch to achieve a 1000-fold cumulative improvement in throughput and the execution speed. To achieve this, ELROND introduces two key innovations: a new adaptive state of shading mechanism and a Secure Proof of Stake (POS) algorithm, which enables linear scalability with quick, efficient and safe consensus mechanism. Thus, Elrond can process more than 15,000 transactions per second (TPS) with a latency of 6 seconds and negligible costs and tries to become the backbone of a permitted, limitless, globally accessible internet economy.