MultiversX (EGLD)
MultiversX (EGLD): A Scalable Blockchain for the New Internet Economy
MultiversX (EGLD), formerly known as Elrond, is a distributed transactional computation protocol that provides a high-throughput, scalable, and secure blockchain platform for decentralized applications (dApps), enterprise use cases, and the new internet economy. Its core innovation is Adaptive State Sharding, which partitions the network's state and transaction processing across multiple shards. This parallel processing capability allows the network to scale linearly with the number of shards, theoretically enabling it to handle tens of thousands of transactions per second with minimal latency and cost.
The network's architecture is built to support a wide range of applications, from DeFi and NFTs to complex enterprise solutions. Security is maintained through its unique Secure Proof of Stake (SPoS) consensus mechanism. SPoS combines eligibility through stake and rating with random validator selection, ensuring a high degree of decentralization and security while remaining energy-efficient. This makes MultiversX an attractive environment for developers looking to build scalable and sustainable Web3 applications on a robust digital ledger.
Technology
MultiversX's technological foundation is its Adaptive State Sharding, which dynamically splits and merges shards to optimize for network load, ensuring high scalability. It combines state, transaction, and network sharding for maximum efficiency. The consensus is achieved via Secure Proof of Stake (SPoS), an energy-efficient mechanism that selects validators from a shard's node pool. The platform supports smart contracts written in Rust, C++, and C, compiled to WebAssembly (WASM), and executed on the Arwen VM.
Tokenomics
The EGLD token is the native currency of the MultiversX network, used for transaction fees, staking, and rewarding validators. Its tokenomics are designed to create a balanced economic model with a capped supply, ensuring scarcity over time. EGLD holders can participate in network governance and secure the network by staking their tokens, earning rewards in the process. The utility of EGLD extends to deploying dApps, creating custom ESDT (Elrond Standard Digital Token) tokens, and interacting with the growing ecosystem of DeFi products.
Ecosystem
The MultiversX ecosystem is a rapidly expanding environment for DeFi, NFTs, and Web3 applications, anchored by its user-friendly xPortal (formerly Maiar) wallet. It positions itself as a competitor to other high-throughput blockchains like Solana and Avalanche by focusing on developer experience and real-world utility. Its unique value proposition lies in its combination of extreme scalability through sharding, low transaction fees, and a carbon-negative footprint, attracting projects focused on sustainability and mass adoption.
Frequently Asked Questions
You can buy MultiversX (EGLD) on major cryptocurrency exchanges like Binance, KuCoin, and OKX. Typically, you'll need to create an account, complete verification, and then purchase EGLD using fiat currency (like USD or EUR) or by exchanging it for another cryptocurrency such as Bitcoin (BTC) or Tether (USDT).
EGLD is the native token of the MultiversX network. Its primary uses include paying for transaction fees, deploying smart contracts, staking to secure the network and earn rewards, participating in governance, and interacting with dApps within the MultiversX ecosystem.
Adaptive State Sharding is MultiversX's core scaling technology. It divides the blockchain's state, transactions, and network into smaller, manageable partitions called shards. This allows transactions to be processed in parallel across different shards, dramatically increasing the network's overall throughput and speed.
Yes, staking EGLD is a core feature of the network's Secure Proof of Stake (SPoS) consensus mechanism. By delegating your EGLD to a validator, you help secure the network and earn staking rewards. It's important to choose a reputable staking provider to minimize risks.
MultiversX was designed from the ground up for high scalability using Adaptive State Sharding, resulting in much lower transaction fees and higher throughput compared to Ethereum's mainnet. While Ethereum is transitioning to a sharded architecture, MultiversX implemented it as a core feature from its inception. MultiversX also uses SPoS, which is different from Ethereum's PoS mechanism.
xPortal (formerly Maiar) is the official wallet and gateway to the MultiversX ecosystem. It's a non-custodial mobile app that allows users to securely store, manage, and exchange EGLD and other digital assets, interact with dApps, and explore the MultiversX metaverse.
You can sell or exchange MultiversX (EGLD) on the same cryptocurrency exchanges where it is listed for purchase. You can trade it for other cryptocurrencies or convert it back to fiat currency and withdraw it to your bank account, depending on the exchange's services.
ESDT (Elrond Standard Digital Token) is the token standard on the MultiversX blockchain, similar to ERC-20 on Ethereum. It allows developers to easily create and deploy custom fungible, non-fungible (NFT), and semi-fungible tokens with native support at the protocol level, ensuring high performance and low costs.
