ISTARI VISION COMMUNITY
Frequent questions about Istari Vision & Elrond – and our answers!
- David Schweiger and Edward Leavy
- 04.05.2022
- Blockchain, EGLD, Elrond, Staking
For the 42nd episode of our German podcast series, our three podcasters Sabrina, Rado and Louis have taken the opportunity to answer the community’s biggest questions about Istari Vision, Elrond, blockchain, crypto, and staking. So that you don’t always have to resort to the number 42 as the answer to all the questions in the universe, we’ll summarize the most important info here in this article.
What does Istari Vision do?
Our managing directors have been with the Elrond team since Day One. In 2020, Istari Vision was founded as a staking provider— more info on that later. To support the growth and potential of the Elrond blockchain, we have subsequently developed four business units here at Istari Vision.
- Instructor: we want everyone to understand the benefits of blockchain and the outstanding possibilities of the Elrond Network. To support this goal, we produce multimedia instructional content and offer a free Academy that helps new users understand how crypto works.
- Incubator: we help startups and companies implement their projects on Elrond. We are always on the lookout for the next “game changer” in the blockchain world and provide resources in the areas of marketing, strategic planning, development, and project management.
- Innovator: we are developing new Web3 tools together with the Elrond team to illustrate the blockchain’s possibilities and generate new use cases. Our key initiative at the moment is developing the Entity platform, but stay tuned for more innovative projects in the near future.
- Infrastructure: we support the Elrond network as an EGLD staking provider and empower our delegators to earn a passive income. As one of the top three staking providers worldwide, we operate the largest German-speaking Elrond community and secure the Elrond network with more than 100 validator nodes.
What exactly is staking and how can you generate a passive income with it?
To better understand the concept of staking, we should first explain the difference between Proof of Work and Proof of Stake blockchains. In both cases, the network relies on their user base to confirm whether transactions are correct. In contrast to the energy-intensive proof-of-work (PoW) method used by Bitcoin, for example, Elrond relies on the more efficient Proof-of-Stake (PoS) approach.
Under the PoS method, transactions are validated by so-called validators – namely staking providers like Istari Vision. Validators help the blockchain by making their servers, i.e. nodes, available on an ongoing basis. When validators maintain nodes to support the network, the blockchain rewards them by distributing fees from completed transactions.
The probability of being selected as a validator increases with the number of tokens a validator has staked. But where do staking providers get their tokens? Quite simply: from so-called delegators within the Elrond community who hold EGLD tokens. They “delegate” tokens to providers such as Istari Vision and in turn receive a share of the validation rewards.
Currently, delegators who stake EGLD with Istari Vision earn a double-digit annual return (APR).
For example, 10 staked EGLD tokens become a full 11 tokens at the end of the year based on a 10% APR. Since the rewards are distributed daily, it makes sense to redelegate your rewards on a regular basis to earn even more from a compounding effect.
Redelegating is when a user claims their staking rewards and adds them back to their principal investment, maximizing token yield and leading to exponential growth over time. The goal of some staking delegators is to eventually live off their passive income, supplement their pension, or afford something special.
Use our staking calculator to calculate how much staking income you can earn with Istari Vision. Learn more about staking in our podcast.
Don’t people just use crypto for tax evasion?
Definitely not! There are many crypto investors who follow all applicable taxes and regulations. Governments around the world continue to release frameworks for dealing with crypto in a transparent and legal manner.
These new regulations have shed light on the “dark web” so blockchain enthusiasts can enjoy their profits openly. Istari Vision is working to make this process even easier with the release of our Entity Tax Tools. Currently in their Alpha version, these Tools empower users to optimize their tax liabilities and generate a structured report on their holdings in the Elrond Network – including Maiar Exchange – that can then be exported and inserted directly into other accounting tools like cointracking.info.
Screenshot: Tax Tools auf Entity.global – coming soon!
Where can I buy EGLD and other Elrond tokens?
It is simple and secure to buy EGLD on the Elrond Network. Simply visit Elrond’s official website or use their native wallet app named MAIAR. Maiar provides a user-friendly platform that requires only your smartphone to use. To purchase EGLD, simply select a payment method such as credit card or bank transfer. Once you have received your EGLD, you can swap them directly on the Maiar Exchange for other Elrond-native tokens such as RIDE.
Screenshot: The Maiar App on the iPhone
The use of the Maiar app is free of charge. Transaction costs, such as when you buy or stake tokens, are extremely inexpensive on the Elrond blockchain. They are in the single-digit cent range or even lower. As Maiar is a non-custodial wallet, users retain complete control over their assets. Since only you hold the key to your crypto wallet, Maiar lets you truly be your own bank!
In the following screencast, we will show you another easy way to buy EGLD using the Elrond website:
Tutorial: So kaufst Du EGLD auf der Elrond-Website in unter 5 Minuten
Isn’t the Elrond blockchain bad for the environment?
No. Using the so-called proof-of-stake consensus mechanism, the Elrond blockchain is more than 6 million times more energy efficient than Bitcoin. Elrond runs on commodity hardware, the manufacture and operation of which releases far less CO2 into the Earth’s atmosphere than specialized high-load hardware required to run some other blockchains.
As Europe’s first carbon-negative blockchain, Elrond even overcompensates for its carbon footprint. It does so by investing in sustainability projects, protecting biodiversity, and supporting social initiatives. Overall, Elrond delivers all of crypto’s upside without any of the environmental guilt.
Screenshot: Elrond & Offsetra – a strong team on a common mission.
You can find out more about sustainability here:
https://elrond.com/blog/elrond-carbon-negative-offsetra
https://offsetra.com/profile/elrond
“We are committed to ensuring that our technology is making a positive contribution to the planet, so we have partnered with Offsetra to permanently stay ahead of our blockchain’s carbon footprint.”
— Baniamin Mincu, CEO Elrond Network
What are the most exciting projects to be released on Elrond?
Investing in the EGLD token is becoming more and more attractive with the number of innovative projects relying on the Elrond blockchain, as this should have a positive impact on the development of the EGLD price value in the long run. Here at Istari Vision, we are pretty discerning about who we choose as partners. So while we are of course a little biased, we are totally thrilled for these upcoming Elrond Network releases:
Entity
Entity is Istari Vision’s “growth engine for the Elrond network.” Developed in collaboration with Titan Stake and Elrond, Entity gives investors and blockchain enthusiasts early access to startups that rely on Elrond blockchain technology. In addition, Entity provides cutting-edge data analytics and assists with tax reporting. More modules are in the works – stay tuned!
Holoride
We are proud to support AUDI spin-out holoride in redefining in-car entertainment. holoride enables immersive experiences in vehicles, built on an Elrond blockchain-based ecosystem including $RIDE tokens and NFTs. Istari Vision acted as a “bridge builder” to Elrond and helped holoride select the best possible blockchain for their business model.
- https://www.holoride.com/
- https://istari.vision/en/istari-vision-en/elrond/with-holoride-car-trips-become-an-adventure/
- https://istari.vision/en/istari-vision-en/elrond/holoride-builds-on-elrond-and-opens-the-door-to-monetization-for-content-creators/
- https://istari.vision/en/services-istari/project-management/istari-vision-bridge-builder-between-holoride-and-elrond/
Knights of Cathena
The creators of Knights of Cathena are building an impressive mobile gaming universe where users can earn rewards with real-world value just for playing. Powered by Elrond, this turn-based multiplayer game will offer gamers the opportunity to earn $CGO tokens and collect powerful NFTs without requiring any initial investment or prior crypto knowledge. The best way to keep up with updates on Knights of Cathena is through their Waitinglist page.
Gnogen
If you are searching for a captivating metaverse experience, look no further than Gnogen. While the Gnogen team is hard at work building a vast NFT community, our job at Istari Vision is to help them unlock Elrond’s full potential. Their Gnogon and Emidas projects have been fan favorites among the Elrond NFT community, with much more still to come. This August, they will be hosting their first GnogenCon convention in Los Angeles, with special experiences for Emidas owners and exciting giveaways.
Vampire Wars
Gamers and blockchain enthusiasts should know about Vampire Wars, an innovative online game where you can earn prizes while you play. Istari Vision is helping the Vampire Wars team get the most out of the Elrond Network’s technology for their in-game economy, player clans, and collectable NFT assets. With plenty of utility for their $EBLO token and mechanics such as NFT staking, gamers can earn rewards even when away from their keyboards.
AshSwap
AshSwap provides a highly efficient and secure solution for stablecoin trading on Elrond. With the $ASH token, users can easily earn rewards and participate in ecosystem governance. Additional blockchain-powered features are in the works, such as social mining where users can earn rewards together through gaming and NFTs. Starting soon, they will reward users for battle-testing their platform during their Battle of Yields event.
Related Links
You can find more questions and answers in our FAQ:
https://istari.vision/en/academy/faq/
You can find explanations of terms in the glossary:
https://istari.vision/en/academy/glossary/
To stay up to date about new projects, we recommend our blog:
https://istari.vision/en/blog/
Want to learn more about Elrond and the blockchain? Take a look at our academy:
https://istari.vision/en/academy/
How to build your passive income with staking, avoid low interest rates and counter inflation? We explain it to you:
https://istari.vision/en/egld-staking/
Everything about the Elrond blockchain and technical info can be found here:
https://istari.vision/en/elrond-blockchain/
Exciting use cases for the Elrond blockchain and industry examples wanted?
https://istari.vision/en/use-cases/
https://istari.vision/en/industries/
Finally, feel free to get in touch using our contact page:
https://istari.vision/en/contact/
Disclaimer
This website is for informational purposes only and does not constitute financial advice. Please make sure you have a diversified investment portfolio, do your own research, and seek expert advice if necessary.
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