Elrond confirms Itheum will launch on its Maiar Launchpad

• Elrond has announced that Itheum will launch on its Maiar Launchpad 

• The launch will happen towards the end of March or in early April 

• Itheum, a Web3 data brokerage platform, wants to tap into the scalability offered by Elrond 

Elrond has announced its strategic support for Itheum, a Web3 data brokerage platform. Through this move, Itheum will be unveiled on the Maiar Launchpad, the strategic launch platform for the Elrond blockchain. 

Itheum is the first decentralized multichain data brokerage firm, and it has been under development for three years. The platform seeks to foster data usage by ensuring the owners can own and trade their data through Web3 or the Metaverse. 

Elrond offers support for Itheum 

Itheum is leveraging the scalable blockchain technology provided by Elrond to create a platform where everyone can manage their personal data in the form of assets. Itheum will also adopt NFMe ID technology to allow users to include a metadata layer on their soulbound Data Avatars for the metaverse.

“Some of the brightest minds of our generation and insane amounts of resources are increasingly focused on finding new ways to harvest data from users and selling it further for ads. If we empower users and businesses to own their data and derive value from it, the internet can progress to a new level of usefulness and trust, a solid foundation for the next territory for human evolution,” said the Itheum CEO, Mark Paul. 

This technology will give users a customized experience while earning a passive income. The technology will also foster end-user adoption while creating a platform where users can access valuable and accurate data at competitive prices. Itheum will debut on the Maiar Launchpad towards the end of this month or early next month. 

The Elrond blockchain 

The Elrond blockchain is one of the most competitive players in the blockchain sector. Its blockchain architecture seeks to provide immense scalability benefits, including fast transaction speeds and high throughput. 

The Elrond blockchain has integrated sharding for scalability, and it has invested in a secure proof-of-stake algorithm. As such, it has been touted as a potential Ethereum killer. The network claims to process more than 10,000 transactions per second at significantly low costs, which is more than what can be said for Ethereum.