PARIS, Nov. 4, 2022 /PRNewswire/ -- Elrond, the startup building internet-scale blockchain technology, announces its transformation into MultiversX. The company thus expands its mission of building the new Internet economy to include the frontier of the digital metaspace.
The metaverse company presents three new products as pillars of its evolution.
"Incredible amounts of creative energy are being poured into multiple compelling metaverse visions," said Beniamin Mincu, CEO and founder of MultiversX (formerly Elrond Network). "MultiversX is building the collaboration framework and composable toolset to set the stage for a positive-sum game of high stakes. To reimagine the full spectrum of the human experience and to reinvent the frontend of every business vertical."
MultiversX will continue to build on the remarkable success of the Elrond network, technology, community and ecosystem. It will continue to advance innovative scalable blockchain protocol and tools with a mission to proliferate Web3 technology.
Additionally, it will expand and broaden the original reach and create the unique opportunity for its millions of users and vibrant ecosystem to lead the once-in-a-generation social shift into the metaverse.
The momentous transformation will unfold in a three-day event at the Brongniart Palace in Paris, where Jean-Noel Barrot, French Minister for Digital Transition and Telecommunications, Sebastian Burduja, Romanian Minister for Research, Innovation and Digitization, and top industry leaders from finance, blockchain, Web3 and the Metaverse, will learn about the expanded reach of MultiversX, its products and the way forward. https://multiversx.com
Elrond (now Multivers X) is a new blockchain architecture designed from the ground up to bring a cumulative 1,000x improvement in performance and speed of execution. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism and a Secure Proof of Stake (PoS) algorithm, which enables linear scalability with a fast, efficient and secure consensus mechanism.
Dan Voicu, Head of Communications
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