Elrond Network announced that it has completed an integration with cybersecurity firm AnChain.AI, improving compliance and enhancing fraud detection capabilities across Elrond’s product portfolio.
The integration will allow Elrond Network and the AnChain toolset to provide its on-chain applications, providing large transaction datasets, enhancing the ability to identify and avoid transactions with addresses flagged as illegal activity, while preventing fraudulent attempts by offenders and helping track and recover stolen digital assets.
Beniamin Mincu, CEO of Elrond Network said that:
“We are making decisive steps for the integration of blockchain technology into the global financial system. International financial institutions and national economies can operate and collaborate using our scalable architecture. It is therefore essential that they have access to the highest levels of compliance and fraud prevention.”
Currently, the Network can process over 15,000 transactions per second with a latency of 6 seconds and a transaction cost of $0.001.
The joint statement said AnChain’s powerful AI-driven security toolkit and leading blockchain analytics capabilities enable Elrond, the Internet-scale underlying digital payments infrastructure, to create a global, transparent, near-instant, inflation-free financial system. further.
According to the statement, Elrond Network enjoys its high-bandwidth, low-latency, high-security, a low-cost blockchain network that can accommodate Internet-scale transactions and value exchanges, which is a highly scalable, fast and secure blockchain platform for distributed apps, enterprise use cases and the new internet economy.
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