Elrond Network is a high-performance programmatic blockchain tailored for new-gen decentralized applications. One of them, Black Hat Network, is tasked with building a one-stop resource for online freelancers.
Better solutions for Internet freelancers: Introducing Black Hat Network
Black Hat Network, an early-stage blockchain project, is attempting to deliver the solution for online freelancers and contractors. Unfair fees of traditional platforms and poor experiences for both employers and freelancers were the two main rationales behind the new concept.
We think we got the right formula to solve a real problem.@ElrondNetwork + @BlackHatNetwork + @MGStakingJune 22, 2021
1. A Safe Network w/High Specs
2. An Experienced Team w/Problem Solving Project
3. A Consultant to Facilitate Tokenization
That simple!$ESDT incoming pic.twitter.com/XiA73WfyvL
As per the estimations of its developers, the pricing on Black Hat Network will be up to 5 times lower than that of “fiat-only” platforms such as UpWork, Fiverr, Freelancer.com, and so on.
Black Hat Network will act as a decentralized meeting point for contractors and entrepreneurs. The project promotes itself as an ‘online marketplace designed by freelancers for freelancers. The total addressable market of this initiative is huge, as 53% of Fortune 500 companies are using freelancers’ services.
Besides dramatically reducing fees, Black Hat Network will notably ease the process of onboarding for both freelancers and ‘buyers’.
Business people will be able to track the experience of contractors in all popular segments of the ‘black hats’ sphere: SEO expertise, content management, web development, UX/UI design, and so on.
Leveraging Elrond Networks for retail-oriented dApps
Black Hat Network will be suitable for freelancers with various levels of expertise in the digital segment. As a result, the entrepreneurs will be able to choose between low-cost and expensive options.
Also, Black Hat Network teases tokenization instruments and releases of ESDT tokens eligible for high-yield staking.
Elrond Network (EGLD) will act as a technological framework for Black Hat Network. This smart contract hosting platform was chosen due to its low-to-no fees and unmatched throughput. High-performance DPoS consensus allows it to tackle the majority of Ethereum’s bottlenecks in terms of dApps onboarding.
As previously covered by U.Today, Elrond Network (EGLD) recently unveiled the new version of its Maiar app’s mainnet iteration.
With the latest release, Maiar supports the flagship cryptocurrency Bitcoin (BTC) for all sorts of storage, transferring, and exchange operations.
Also, Elrond Network’s security startup Runtime Verification recently raised $5.3M from top investors including Fenbushi Capital, Maven 11, Borderless Capital, and so on.