We are thrilled to announce that Binance will be operating dedicated infrastructure to run Validator nodes at the mainnet launch & after, as well as in the preparation phase leading up to the minting of the Genesis Block.
The partnership brings Elrond operational support from a top player in the cryptocurrency space, while Binance supports the expansion of the blockchain ecosystem, and further involves with their long-term investment made via Binance Labs by strengthening the project’s infrastructure layer.
“Whoever has dealt with IT infrastructure knows that, as all things, it can fail. The best providers are those who make that happen rarely, ensure a speedy recovery and communicate frequently and clearly with its stakeholders. The Binance team has set the highest standard on these aspects, so we are happy to have them part of the Elrond ecosystem.” said Beniamin Mincu, Elrond CEO
Binance has been making moves into the infrastructure layer of the cryptocurrency space with staking services for a number of projects and even a Bitcoin mining pool. The expertise of the team that commoditized massive access to almost any kind of cryptocurrency service will thus be uniquely valuable to the Elrond blockchain launch & operations.
“We’re excited to be a part of the early adoption wave on Elrond’s technology, and our engineers have been pleasantly surprised with the ease of the setup and maintenance process of node infrastructure. Thus, the decision to get involved in Elrond’s infrastructure layer right from the start makes a lot of sense.” said the Binance Staking team.
This agreement makes Binance one of the key Genesis partners for the highly anticipated launch of the Elrond mainnet, dubbed the internet-scale blockchain. By adding such an important partner to its initial Validator setup, Elrond secures a strong line-up of professional infrastructure providers for the imminent minting of its Genesis block.
Binance is the global blockchain company behind the world’s largest digital asset exchange by trading volume and users, serving a greater mission to accelerate cryptocurrency adoption with 25+ products, projects and initiatives including:
- Binance Exchange (Binance.com): Binance Futures, Spot & Margin trading, Binance Lending and Binance Staking
- Binance Academy: non-profit blockchain and crypto educational portal
- Binance Charity: non-profit organization and first blockchain-powered donation platform dedicated to advancing transparent philanthropy
- Binance DEX: community-driven decentralized exchange developed on top of the Binance Chain blockchain for issuing and exchanging digital assets in a decentralized manner
- Binance Fiat Gateways: buy-and-sell crypto platform, covering 170+ countries and regions through local payments partners and P2P platforms. Fiat-to-Crypto Platforms: joint ventures with global partners to buy, sell and trade crypto: Binance US, Binance Jersey, Binance Korea, Binance Singapore, Binance Uganda, Binance Lite Australia
- Binance Labs: venture arm and incubator, investing in and supporting early-stage blockchain startups and infrastructure projects
- Binance Launchpad: exclusive token launch platform for supporting transformative blockchain startups and entrepreneurs
- Binance Research: institutional-grade, data-driven insights and analysis for crypto investors
- Binance X: developer-focused initiative to foster innovation of blockchain developers and cultivate industry growth and meaningful use cases
- Other initiatives include: Binance Cloud (end-to-end enterprise solution for launching exchanges), Binance Info (market news and insights), Trust Wallet (mobile wallet and dApp browser)
For more information, visit: https://www.binance.com
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.
For more information, visit: www.elrond.com