After comprehensive assessment of several jurisdictions worldwide the Founders of Elrond Network recently have chosen Liechtenstein as the most suitable venue to incorporate Elrond Foundation, Vaduz.

Elrond Foundation Vaduz is a Liechtenstein based charitable Foundation which is under the supervision of the Liechtenstein Foundation Supervisory Authority (STIFA) and serves the purpose to support and further the development of decentralized network structures, artificial intelligence and other progressive and pioneering technologies in general and the Elrond Network in particular.

Elrond Foundation therefore is a main pillar to ensure that not only the Elrond Network but decentralized blockchain based networks in general continue to grow and prosper and that in particular the most promising and progressive projects in the blockchain space obtain the support and furtherance required to strive.

Elrond Network has been founded by Beniamin Mincu, Lucian Todea, and Lucian Mincu in 2018 and is currently is ranked in the top 40 Blockchain projects of the World with an estimated effective market capitalization of EGLD Token of approximately USD 2,8 billion which is constantly growing ( https://coinmarketcap.com/currencies/elrond-egld/). The Elrond Network sets perhaps the highest standard in terms of blockchain performance by being able to scale transaction processing beyond 100k transactions per second (TPS), with a USD 0.001 transaction cost, while at the same time being fully carbon negative with every transaction, NFT and DeFi dapp built on Elrond thus additionally providing a positive effect to the environment while operating. For perspective, Bitcoin can conduct only 5-7 transactions per second, and Ethereum around 15 transactions per second. The Elrond Network has already achieved a remarkable degree of decentralization with 3’200 nodes located in multiple countries around the globe sustaining the security of the network. In terms of adoption, Elrond has a total of over 700’000 wallets, with 445’000 users of the Elrond Network based Maiar app, and 82’000 users staking the native EGLD Token, and is processing on average over 30’000 transaction per day.

We are pleased to advise the Founders of Elrond Network as well as Elrond Foundation on their journey of the further development of the Elrond Network as well as the development of further projects.

8 | 2021