New Romanian unicorn: Elrond start-up says it’s worth USD 1 bln

The Elrond Blockchain, developed by a Sibiu-based start-up has announced it had exceeded the evaluation of USD 1 billion, which makes it the second Romanian unicorn, after UiPath.

The rise of their value comes amid the substantial progress of the start-up and of their high interest in the blockchain technology.

Beniamin Mincu, CEO Elrond, says that this increase is just getting started, even if the total value of the blockchain project and cryptocurrencies has already exceeded the USD 1 trillion assessment.

“I congratulate the team, the community and the partners for their effort! It is just day 1. Elrond is at the beginning of an accelerated expansion period, and the next step for us is to launch the Maiar mobile app. So, we went from book to eBooks, from mail to eMail and from gold to eGold”, Mincu stated.

Elrond and Maiar use eGold (EGLD) cryptocurrency that relates to the idea of digital gold.

The Elrond network is able to process over 15,000 transactions per second and can scale up to over 100,000 transactions per second.

The Blockchain technology is especially used in the context of bitcoins, but is is enforceable also in other fields. The Blockchain’s advantage is that it can stock a public database protected by cryptography. In brief, the blockchain concept represents a shared database that can keep a dynamic list of recordings in an efficient, permanent and verifiable way.

The Romanian project Elrond’s rise has gained a remarkable scope that propelled it among the first 50 blockchain/ crypto projects in the world.

Elrond was founded in 2018 by Beniamin Mincu, together with his brother, Lucian Mincu, and entrepreneur Lucian Todea.