Dear UTU Guardians of Trust!
We are excited to announce today a brand new collaboration between UTU and Elrond! UTU is transforming digital trust with our AI-powered decentralized Trust Infrastructure as a Service. We are solving the core problems of digital trust — better models, mechanisms, and incentives. Our vision of benevolent digital trust fits beautifully into the internet scale blockchain ecosystem Elrond is building. Our team admires greatly the work they Elrond is doing to advance scalability and consensus as well as the incredible community they are building.
Together we will make UTU Coin swappable to and from Elrond before the end of the year and by early next year deploy parameterisable oracles to make UTU’s trusted recommendations available to Elrond DApps and protocols. We are also exploring running UTU’s core endorsement and data access management protocols on Elrond — more to come on this soon.
Elrond is a technology ecosystem for the new internet. Its smart contracts execution platform is highly scalable and brings several innovations in the blockchain space, such as Adaptive State Sharding and Secure Proof of Stake. The mainnet is capable of 15,000 TPS, 6s latency and $0.001 tx cost and suitable for fintech, DeFi and IoT usecases.
“The collaboration with UTU represents one more project that will be using our technology — it brings us exposure to the emerging African economies and thus accelerates Elrond adoption in these fast-growing markets.” said Beniamin Mincu, Elrond CEO.
Elrond is a new blockchain architecture, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
At UTU we believe in a more human-friendly internet and are changing the way the world trusts online. UTU’s vision is to become the trust infrastructure of the entire internet, replacing anonymous star ratings, reviews, and scores as the de facto trust mechanisms of our digital lives. We do this in service of our mission to bridge the gap between how people trust in real life, and how they are asked to trust online. We believe in data as a human right and build for privacy first. Our goal is to make the internet a safer, more trusted place to gather, share, work, and trade.