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Elrond-Based Black Hat Network Reshapes the Online Freelance Market, Here's How

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Fri, 06/25/2021 - 18:50
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Vladislav Sopov
Black Hat Network, a decentralized infrastructure project, is going to harness Elrond’s smart contract ecosystem for solving the most irritating issues of online freelance markets
Elrond-Based Black Hat Network Reshapes the Online Freelance Market, Here's How
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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.

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.

Related
Bitcoin Appears on Elrond Network's Maiar App
 

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.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)