Romanian blockchain startup Elrond, primarily based in Sibiu, launched its Maiar app on Monday morning, February 1.
The app launch comes after the Elrond community’s native cryptocurrency E-Gold elevated its worth sevenfold within the final two months, reaching a market capitalization of over USD 1 billion.
Nonetheless, the EGLD worth went down greater than 10% within the final two days, after reaching a USD 72 on January 30.
Over 37,000 distinctive accounts had been opened within the first 12 hours after the Maiar app went reside, in line with Elrond co-founder and CEO Beniamin Mincu.
He says this was solely the “comfortable launch” and that the Elrond crew remains to be engaged on fixing the important thing issues signaled by customers. This consists of enhancing the registration bandwidth limitation and scaling the pace of EGLD purchases.
The app at present permits customers to purchase EGLD in addition to Binance cash and Ethereum (by accomplice exchanges) and obtain or ship EGLD simply primarily based on the telephone quantity (or herotag) of the sender or recipient. Maiar thus goals to simplify cryptocurrency transfers and make them accessible to extra folks.
Elrond’s declared purpose is to achieve one billion customers. Nonetheless, this might require a progress of 10 new accounts per second for the following 3.2 years, in line with Beniamin Mincu.
For comparability, Revolut, one of the vital well-liked cash switch and administration apps, had about 12 million customers in 2020.