A lot has been happening behind the scenes of Elrond as of late. Many people seem to overlook this ecosystem, even though its technology can prove rather decisive. Whether it is off-chain computing, NFTs, eSports, or other venues, Elrond’s potential use cases are diversified.
Cartesi Partnership is Intriguing
One of the more recent developments for Elrond is a partnership with Cartesi. More specifically, the WASM VM by Elrond provides high throughput for smart contracts. This VM will now gain support from off-chain computing power via Cartesi and Linux tools. A strong push toward decentralization in this industry allowing for new blockchain-based developments to be created soon.
As Cartesi acts as an off-chain decentralized computation platform, bringing DApps to Linux is just one of this new development’s outcomes. Combined with Elrond’s native speed, there is a lot of potential to be unlocked in the future. Moreover, this will pave the way for broader enterprise adoption of blockchain technology.
Mainstream Media Recognition
It is uncommon to see the mainstream media provide some positive exposure to cryptocurrency or blockchain projects. International Business Times posted a recent article on emerging technologies in the industry. Elrond is one of the projects mentioned, thanks to its versatile blockchain technology proving useful across many industries.
Other projects mentioned include BitPay, Dash, Algorand, and DSLA Protocol. It is evident the reporter did some basic research into the different ecosystems and decided to put Elrond in the top 10. A well-deserved mention, but it remains unclear if this will do anything for the mainstream’s perception of cryptocurrency and blockchain technology.
Elrond and eSports
No one will deny that eSports is an industry undergoing tremendous growth. This industry grows by leaps and bounds, which has many people excited. More importantly, the eSports segment will introduce many new use cases, products, and services. Elrond may play a crucial role in these proceedings.
More specifically, Exeedme – a blockchain-based eSports platform – is looking to accept eGold payments through the Maiar solution. This applies to payments, subscriptions, and other forms of engagement between streamers and eSports enthusiasts.
Entering The NFT Space
Over the past few months, there has been a growing interest in Non-Fungible Tokens, or NFTs. While this industry’s long-term potential remains unclear at the time, new platforms and services come to market regularly. It now seems that Elrond may play a role of importance in this segment as well. A partnership with Chain Guardians is the first step in the right direction.
Razor Network Oracles
Many blockchain projects are looking for ways to make their smart contracts more powerful. Doing so requires interfacing with external data, something that public blockchains usually aren’t capable of. Integrating network oracles for real-world data will often provide a valuable solution. Elrond is using Razor Network oracles to receive off-chain data.
Through this integration, the Elrond ecosystem and any eternal systems tied to it will access these data streams. Many new opportunities will become accessible thanks to this integration, creating a broader appeal for Elrond and its ecosystem. As this is not the only oracle system used to obtain off-chain data, there will be more information to optimize existing projects or develop brand new ones.