Stobox partners with Elrond, a highly secure and scalable blockchain ecosystem
Stobox, a technology company offering tokenization solutions, is happy to announce a collaboration with Elrond, a blockchain platform that is highly scalable, quick, and safe for distributed apps, business use cases, and the new internet economy.
The first step in Stobox <> Elrond partnership will be to make it easier to integrate the Elrond mainnet with the Stobox Digital Securities Dashboard, allowing businesses to raise funds by issuing their assets as tokens on the Elrond blockchain.
As the following arrangement, a portion of the Stobox utility token STBU will be bridged to Elrond as an ESDT token, allowing STBU utility token holders to participate in DeFi prospects on the Maiar Exchange.
Gene Deyev, Stobox Co-founder and CEO: “The appeal of blockchain technology has always been lower costs and increased efficiency, which the most popular networks today don’t really offer. This is why we are excited to work with Elrond Network and offer our customers a faster and inexpensive way to tokenize their businesses and assets using Stobox expertise and products.”
Beniamin Mincu, Elrond Network CEO: “Decentralized digital assets are unforgeable, more secure, faster, and more inexpensive to own and transfer. The tokenization of everything is therefore unavoidable. For it to happen, clear guidelines and simple tools must exist. We’re happy to work together with Stobox to accelerate the deployment of new business use-cases on the Elrond mainnet.”
Stobox is an award-winning tokenization company that was the first to offer a decentralized trading mechanism for digital assets. Its own stock, STBX, has been tokenized and made available for purchase in the STO. Earlier this summer, the company launched Stobox Exchange, a cryptocurrency platform specializing in coins produced by conventional businesses. Today, the brand can assist firms with tokenizing investment funds, startups, real estate, natural resources, and even art or valuable antiques.
Elrond is an internet-scale blockchain built from the ground up to provide a 1000-fold increase in throughput and execution speed. Elrond does this by introducing two essential innovations: a new Adaptive State Sharding mechanism and a Secure Proof of Stake (PoS) algorithm, both of which enable linear scaling while also providing a quick, efficient, and secure consensus process. Elrond is trying to become the backbone of a permissionless, borderless, globally accessible internet economy by processing upwards of 15,000 transactions per second (TPS) with 6-second latency and minimal cost.