eToro Added Support For Elrond’s eGold Token: Report

The popular crypto exchange eToro added support for Elrond’s eGold token, marking the first listing in a few months according to the announcement as we are reading more in today’s crypto news.

The internet-scale blockchain company Elrond, announced that its eGold token will be available on etoroX, and the token will allow to support the network and earn rewards. The eToroX listing comes as the exchange expanded its crypto platform after the 12-month hiatus. eToro offers a lot of management services for more than 15 million users that trade stocks, commodities, and crypto. eToroX is also a crypto exchange mainly meant to be used for professionals. The CEO and founder of Elrond Network Beniamin Mincu said after eToro added support for the new token:

 “In its 10 years of existence Bitcoin has proven that cryptocurrencies are secure and can serve an important purpose in the internet economy. Elrond opens up a new frontier offering internet-scale blockchain performance, and an intuitive application called Maiar, through which we aim to bring the next billion people to the blockchain space.”

Elrond is an internet-scale blockchain that is designed to improve efficiency by bringing a 100-fold improvement on the blockchain in execution speed and throughput. It can process up to 15,000 transactions every second with 6-second latency and low costs with claims to become what the broadband internet was in the early days in the slow internet connections. The company announced the digital wallet and global payments app named Maiar which will be released next year and will be set to boost global crypto adoption that will have similar functions to PayPal, Google Play, and Venmo, but without collecting personal information from its users.

As recently reported, eToro launched crypto staking options and the company announced today that it earlier this month so the first two assets available will be Cardano’s ADA and Tron’s TRX. Crypto staking requires the investors to lock the number of coins based on the proof-of-stake consensus algorithm or other varieties. The investors receive the right to vote and to participate in the process of governing the network. For their participation, the stakers will receive a reward. Staking grew in popularity over the past year and now eToro is among the latest companies to get on board. In a press release, the company with more than 14 million users announced they will launch a digital asset staking service in October.