Building For Global Adoption: Woodstock Fund Shifts Elrond Commitment Into High Gear With In-Depth Research Paper, Strategic Investments And New Staking Pool
Woodstock is one of the most savvy investors in the blockchain industry and an early Elrond strategic partner. They were among the first to grasp the transformational potential of Elrond’s technology and have been important to our project’s inception.
They have provided growth opportunities through insightful strategic advisory and thoughtful ecosystem building, and have been a reliable contributor to the launch of our mainnet by acting as a genesis launch partner.
Today we are excited to announce that the collaboration between Elrond and Woodstock kicks into high gear. Our partner released a brand new research report on the Elrond ecosystem, has announced their first significant investment into a project building with our tech, and has launched a non-custodial EGLD staking service.
Their research report covers Elrond in the right level of detail for anyone who seeks to understand the fundamentals of our technology and get acquainted with our ecosystem and the vision that drives its growth:
“Elrond’s novel approach to sharding has propelled the platform on a path of explosive growth. And through its intuitive applications and superior UX, Elrond is focused on capturing the global audience. Stress testing these applications before launch further minimizes the risks of hacks and bugs, bettering user engagement. Through these steady innovative efforts, the network has gathered impetus for growth and is effectively moving up the blockchain ladder.”
The full report is available here: https://blog.woodstockfund.com/2021/10/19/elrond-building-for-the-global-adoption/
Woodstock made their first investment in the Elrond ecosystem by participating in the private round of holoride, the Audi-backed extended reality platform that utilizes internet-scale blockchain technology to bootstrap the fair, sustainable and compelling economy of thrilling virtual reality content that will transform every car ride into an exciting experience.
Our partner is also leveraging their 15+ months experience of running Elrond validators to further support ecosystem growth with the new Woodstock Staking Pool, where anyone can delegate EGLD in a non-custodial manner, help secure the network and earn rewards.
"Woodstock has provided Elrond with valuable support that has had a significant impact on our growth from a technology startup into a leader in the blockchain space. We look forward to the next success stories that their expertise and resources will foster in the Elrond ecosystem." said Beniamin Mincu, Elrond Network CEO.
"Our due diligence on technology is thorough, but our investment decisions are ultimately made based on our assessment of the execution capabilities of the team. Elrond has excelled at both since day one, and have since continuously exceeded expectations.
By increasing Woodstock's commitment towards the ecosystem they have built we aim to further amplify their efforts and help them build towards global adoption" said Pranav Sharma, Woodstock Founding Partner.
Elrond is the internet-scale blockchain, 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 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
About Woodstock Fund
Woodstock Fund is a multi-asset global investment fund currently focused on investments in public Distributed Ledger Technology (DLT), Decentralized Finance & Tokenization and Web 3.0 protocols. Woodstock Fund invests in equity, convertibles and tokens in both public and private markets. Woodstock works at the intersection of technology and value creation alongside its portfolio companies to help them scale and grow their ecosystem.