Upbit Announces the Addition of EGLD in Korean and Bitcoin Markets

04/27/2023 01:10 • Blockchain Briefs • 93 views

On April 27th, it was announced that Upbit will add EGLD in the Korean won and Bitcoin markets, and deposit support will be available within 3 hours, only supporting main network recharge. It is expected to open trading from April 2023 to 2715:00.

Upbit will be launched on EGLD

Cryptocurrencies have taken the world by storm, and their popularity has only grown exponentially in recent years. With new cryptocurrencies being introduced every other day, the market has become more competitive than ever. One such cryptocurrency that has caught the attention of investors and traders alike is EGLD. Recently, on April 27th, Upbit announced that it would be adding EGLD to its Korean won and Bitcoin markets, and deposit support will be available within 3 hours.

What is EGLD?

Before we delve into the details, let’s first understand what EGLD is. Elrond (EGLD) is a high-performance blockchain platform that aims to provide an infrastructure for the new internet economy. It uses Proof of Stake (PoS) consensus mechanism that enables secure, scalable, and fast transactions. The main focus of EGLD is to make blockchain technology accessible to everyone, regardless of their technical know-how or experience.

Upbit’s Announcement

Upbit, one of the largest cryptocurrency exchanges in South Korea, has announced that it will be adding EGLD to its Korean won and Bitcoin markets. This move by Upbit is seen as a testament to the growing popularity and value of EGLD. The deposit support for EGLD will be available within 3 hours, and it is expected to open trading from April 2023 to 2715:00.

What Makes EGLD Stand Out?

EGLD’s unique features make it stand out from other cryptocurrencies in the market. Some of the notable features of EGLD are:

Fast Transactions

EGLD’s blockchain platform is designed to facilitate fast transactions. Its transaction speed is up to 15,000 transactions per second (TPS).

High Scalability

EGLD’s innovative sharding mechanism enables high scalability. It allows the network to scale horizontally, which means that the network’s performance can be increased by adding more nodes.

Security

EGLD uses a secure and robust consensus mechanism called Proof of Stake (PoS). This mechanism ensures that the network is secure and prevents the possibility of a 51% attack.

Conclusion

Upbit’s announcement of adding EGLD to its Korean won and Bitcoin markets is a significant development for the cryptocurrency industry. The move is expected to increase EGLD’s market value and make it more accessible to traders and investors. With its fast transactions, high scalability, and robust security mechanism, EGLD is poised to become a leading cryptocurrency in the market.

FAQs

Q.1 What is EGLD?
A. EGLD is a high-performance blockchain platform that aims to provide an infrastructure for the new internet economy.
Q.2 What is Upbit?
A. Upbit is one of the largest cryptocurrency exchanges in South Korea.
Q.3 What are the unique features of EGLD?
A. EGLD is known for its fast transactions, high scalability, and robust security mechanism.

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