Elph has been acquired by Brex

Today, we’re excited to announce that Elph has been acquired by Brex.

We started in 2017 with the overarching mission to revamp the digital payments infrastructure on the Internet. Over time, we focused our energy on building blockchain infrastructure to make monetary value transfer using cryptocurrency — what we believe will power the next generation of digital payments — easy, secure, and scalable.

The products we built achieved meaningful results and traction:

1. First, our scalable Plasma sidechains achieved high throughput levels, surpassing 6,000 transactions per second of cryptocurrency transfers on top of the Ethereum network.
2. Next, our DApp Browser — downloaded and used by thousands of people all around the world, with over a hundred popular decentralized apps listed in the DApp Store — made it easy for consumers to discover, use, and transact with their cryptocurrency on decentralized apps built on Web 3.0 infrastructure right from their desktop.
3. Lastly, our hosted distributed ledger service, designed to easily spin up private blockchain networks with a click of a button, garnered interest from over 50 large enterprises looking to create private networks to trade financial products between institutions to supply chain tracking systems across multiple vendors.

Additionally, the research we conducted in-house made significant contributions to game theory, adversarial system design, and decentralized protocols:

1. Our paper on designing a decentralized content curation protocol evolved concepts from token-curated registries, automated market makers, governance, anonymized voting, and micropayments to create a spam- and censorship-resistant content curation system.
2. Our paper on decentralized sidechains as a service described a protocol that used micropayments to incentivize independent, adversarial actors to coalesce their computing power to create a decentralized cloud service, capable of running varied workloads.

Going forward, our overarching mission remains unchanged — we will continue revamping digital payments infrastructure at Brex. The entire team at Elph will be transitioning over, and we will continue to grow under the larger organization.

Onwards and upwards,
Ritik, Tanooj, Vamsi, Sarat, Abhinav