Elrond, a finance-oriented decentralized blockchain, is undergoing a massive transformation as the startup changes its name to MetaversX. The move is intended to reflect the company’s new direction, which will focus on creating products related to the metaverse.

Elrond was one of the first projects to raise funds through Binance Launchpad in 2019. It has built a proprietary blockchain network that combines its secure proof-of-stake (PoS) consensus mechanism with a so-called adaptive state sharding approach. , achieving maximum scalability.

With the ability to process more than 10,000 transactions per second (tps) at low cost, Elrond has been ideal for decentralized finance (DeFi) applications and other dApps.

The ecosystem will leverage your existing infrastructure and…