Elrond is proud to announce a strategic partnership with 2key Network, a Layer-2 solution enabling the execution of smart contracts in a browser-based network, where clicking on a link turns the browser into a blockchain node with a non-custodial wallet.
2key Network is now part of the first batch of projects that capitalize on the highly scalable, secure and cost-efficient Elrond Protocol.
2key Network’s technology can improve user on-boarding in all of Elrond Network’s consumer and enterprise dApps, thereby boosting user acquisition. These improvements are delivered by Smart Links, a proprietary technology that enables the community of any development or project to seamlessly be rewarded for driving product growth and service usage — be it centralized or decentralized.
Through this partnership, 2Key Network’s novel Layer-2 protocol will be used atop the first Layer-1 solution that leverages Adaptive State Sharding in conjunction with the Secure Proof of Stake consensus. Simultaneously, Elrond gains a powerful new means of pushing dApp growth on its blockchain, furthering the team’s ambition of making a blockchain for mass usage.
“2Key Network is a great enabler of Web 3 technology and we’re glad to offer Elrond as a fast, secure and cost efficient infrastructure on which to run 2Key Network”, — Lucian Todea; COO, Elrond
“Elrond Network offers a great infrastructure for blockchain use-cases that require a strenuous throughput, making it a strong frontier for 2key’s Smart Link technology as-well-as dApp growth and interoperability benefits.” — Erez Ben Kiki; CEO, 2key Network
About 2key Network
2key Network is a layer-two scalability solution that enables eased transitioning from the Web 2 to the Web 3. Simply clicking on a Smart Link, a proprietary technology created by 2key, a user’s browser is turned into a node with a noncustodial wallet. As 2key Network is a layer-two solution, it can operate on any layer-one, a reference to any public blockchain.
Elrond is a new blockchain architecture, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
Elrond is built by a team of experienced entrepreneurs along with 13 engineers and researchers with significant blockchain backgrounds and technical experience at Microsoft, Google, Intel, and NTT DATA. The team includes two PhDs in CS & AI, multiple math, CS, and AI Olympiad champions, and a former member of the NEM core team.