ELROND (EGLD) are all about distributed apps, enterprise use cases to create a new internet economy.  Developers, validators and businesses are making use of Elrond to build a new internet economy.

For clarity, “digital economy refers to an economy that is based on digital computing technologies, although we increasingly perceive this as conducting business through markets based on the internet and the World Wide Web. The digital economy is also referred to as the Internet Economy, New Economy, or Web Economy.”

They are new, high-growth industries which are on the cutting edge of technology and are believed to be the driving force of economic growth and productivity.

The Internet is expected to produce significant cost savings in several sectors of the economy, eventually leading to faster productivity and growth. Thus, it will produce lower prices for consumers, eventually leading to faster growth in living standards.

Very soon, the governments and the society at large will be able to quickly adapt to the new economy and they will have to face policy challenges and ultimately ensure it suits the new internet economy.

Of note, the paraphernalia of the new Internet economy is based on advanced data networks facilitated by new software tools. This in turn will lead to unprecedented user and consumer empowerment as well as opportunities for new innovative and social activities

In the growth context, there is lot of digital transformation taking place. There is no reinventing the wheel happening with blockchain, it is about making use of the blockchain technology to do what we have been already doing, but to do it better than before.

The economic activity which happens due to billions of everyday online transactions among people, businesses, devices, data, and processes creates the demand for the digital economy and thus improving on the interconnectedness of people, organizations, and machines which happens from the Internet, mobile technology and the internet of things (IoT). In short the digital economy is taking shape and EGLD is about making the best of the internet economy.

Cristi Corcoveanu, developer at Elrond stated, “Blockchain is an inextricable mix of technology, economics and governance. The latest Elrond Network mainnet upgrade brings new features that accelerate decentralization & expand the $EGLD staking economy.”

The weekly Elrond report states, this week in Elrond there will be a mainnet upgrade:  Elrond-go v1.1.37.0 is LIVE.  Staking phase 3 and delegation manager, and NFTs features integration and testing.

“elrond-go v1.1.37.0 is LIVE! 64+ PRs, 607 commits, a total of +18948/-13641 lines of code have been embedded into the Elrond protocol, enabling the technical features for the next phase of EGLD staking.”

Reportedly, Staking Phase 3 features have undergone intensive testing, together with our Validators community. The last touches to the Delegation Manager have been added as a result and deployed via the latest upgrade.

Also, NFTs and ESDTs have been integrated into the Rust Framework. Added a new set of integration & unit tests for NFTs & ESDTs, covering all use cases. Reverts & SC calls, SC calling another SC, SCs issuing & setting local roles.