The chief executive officer of scaling solutions blockchain Elrond (EGLD) says he wants to onboard one billion new users to cryptocurrency.\u00a0<\/p>\n
Speaking in an interview with Decrypt, Elrond CEO Beniamin Mincu said his goal is to make blockchain technology more mainstream, with an emphasis on widespread adoption. Mincu said his project is focused on simplifying the user experience in order to broaden its appeal.<\/p>\n
He said:<\/p>\n
With Elrond, we intend to build the backbone for a high bandwidth, low latency financial system, and make this accessible to anyone, anywhere in the world.<\/p>\n
Mincu explained Elrond seeks to create a financial system built on blockchain that provides an easy payment solution for people all over the world. He claimed the transfer of money digitally should be as easy as the current transfer of information.\u00a0<\/p>\n
He continued:<\/p>\n
You want to onboard the next billion people, if you have this kind of interface, you can do something that will be like a wave that lifts all boats.<\/p>\n
Elrond\u2019s new blockchain architecture, capable of completing 15,000 transactions per second, has replaced bitcoin\u2019s public key with simple usernames. Mincu says the substitution of large alphanumeric addresses with easy-to-remember names would make the design simpler for the average person.\u00a0<\/p>\n
He said:<\/p>\n
You might have the best technology, but if the user experience is terrible and there\u2019s only a few people who can actually work with your technology, that\u2019s a very sad situation. This has been the blockchain story for the last 10 years.<\/p>\n