We are joining a retinue of high-profile companies and developer organizations to create a collaborative consortium ecosystem at the forefront of blockchain innovation. The Binance Chain Alliance is a voluntary association of blockchain projects which are committed to supporting the Binance Chain and have been listed on Binance DEX.
While not officially affiliated with Binance.com, the alliance seeks to support other projects and their founders during their migration process to Binance Chain, as well as support them in a variety of areas such as financing, technology, KYC and network introductions.
Elrond’s contribution to the Binance Chain Alliance
Our core mission is to push towards creating new economic paradigms, driving efficiency increase & ethical behavior in legacy institutions and empowering individuals with unprecedented socio-economic and political influence. We believe this to be achievable in a collaborative environment where different projects act as partners instead of competitors in a zero-sum game.
Elrond is one of the blockchain projects spearheading the experimentation of scalable, interoperable infrastructure for the underlying technology.
We are favourably positioned to support the growth of Binance Chain Alliance leading open-source software foundation.
Through this Alliance, we intend to share some of our fundamental research with the members in areas such as optimization of network security and randomness generation in secure Proof-of-Stake consensus algorithm.
Additionally, Elrond aims to join efforts with Alliance members to further develop and research interoperability as one of the main connecting bridges for the ecosystem.
Thank You to Cubiex
We want to thank Cubiex and their CEO Pierre Cahine for launching the Binance Chain Alliance and being kind enough to invite Elrond.
Through Cubiex’s leadership, we are confident the Binance Chain Alliance will become one of the most important communities within the Binance ecosystem.
Binance Chain Alliance
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.