MultiversX (EGLD) is a blockchain protocol that strives to provide quick transaction speeds through the use of sharding. It serves as a technology ecosystem for the new internet, encompassing fintech, decentralized finance, and the Internet of Things. Its smart contracts execution platform is reportedly capable of handling 15,000 transactions per second, with a six-second latency and a $0.001 transaction cost. MultiversX compensates its community and active participants with EGLD tokens, which are used to pay for network usage and as a medium of exchange between platform users and validators.

MultiversX operates using a unique adaptive state sharding technology to scale while sharing infrastructure to support a growing number of applications and transactions on the ledger. This technology divides the network into four shards: three execution shards that process transactions, validating 5400 transactions per second, and a coordination shard known as the Metachain. MultiversX's adaptive state sharding architecture completely shards state, transactions, and network. It can scale by adding an additional shard when the throughput demand is unmet. The project also supports developers building on the platform, allowing them to receive 30% of the smart contract fees as royalties.

MultiversX aims to contribute to the cryptocurrency space by providing a platform for deploying smart contracts, protocols, and decentralized applications (dApps). It empowers participants to perform any network action. Through staking and validation compensation, as well as transaction fees, EGLD manages the MultiversX network. Additionally, EGLD is endowed with the functionality of a governance token, so its holders can vote on network decisions. This positions MultiversX as a platform for a range of applications in the fintech, decentralized finance, and Internet of Things sectors.

MultiversX was co-founded in late 2017 by brothers Beniamin and Lucian Mincu alongside Lucian Todea as a solution to the problem of blockchain scalability, which they believed to be a pressing issue facing the industry. Prior to MultiversX, the Mincu brothers co-founded MetaChain Capital, a digital asset fund, and ICO Market Data, an aggregator of information around initial coin offerings. MultiversX was first announced in August 2019, and its mainnet went live in July 2020. The project describes itself as a blockchain platform for the new internet economy, decentralized applications, and enterprise use. One of its features is its scalability, stating that it is the first blockchain network in which state, network, and transaction sharding have all been implemented.

Elrond and MultiversX share a direct relationship as Elrond is transitioning to MultiversX. This transformation is driven by a strategic shift in focus towards metaverse development. The transition was accompanied by the introduction of three new metaverse-centric products: xFabric, xPortal, and xWorlds. These tools strive to provide metaverse creators and users with a metaverse portal, digital assets holder, creator utilities, and a deployable blockchain module. Despite the transition, MultiversX intends to leverage the existing technologies, community, and ecosystem of the Elrond Network. The CEO of MultiversX, Beniamin Mincu, has stated that the transition seeks to explore opportunities in both the digital and physical reality, with a focus on growth, adoption, and utility in the real world and the metaverse.

EGLD, the native token of MultiversX, is compatible with a variety of wallets, each with distinct features to cater to different user needs. Trust Wallet is a mobile wallet that features an interface and security measures, facilitating the storage, sending, and receiving of EGLD tokens. Ledger Wallet, a hardware wallet, features offline storage and security measures, aiming to provide an environment for EGLD tokens. BYDFi Wallet, a decentralized wallet, features storage and security measures for EGLD tokens, striving to give users control over their tokens. Atomic Wallet, a multi-currency wallet, is compatible with EGLD and facilitates the storage, management, and exchange of tokens. It also has built-in atomic swaps, which aim to enable users to swap EGLD with other cryptocurrencies. It's important to conduct thorough research and choose a wallet that suits your needs in terms of security, convenience, and user experience.

MultiversX's Secure Proof of Stake (SPoS) consensus mechanism introduces several distinctive characteristics that aim to improve efficiency and security in the blockchain network. At the start of each round, SPoS selects validators for consensus using a randomness source that is unpredictable and uninfluenced. This randomness source is calculated from the previous block and signed by the consensus leader of the current round, known as the block proposer. The resulting signature becomes the randomness source for the next round. In each round, a new consensus group is selected to propose a block, with one validator in the group acting as the block proposer. The selection process is relatively brief, often less than 100 milliseconds, due to the deterministic nature of consensus selection once the randomness source is known. SPoS also selects validator nodes for consensus based on the amount of EGLD tokens staked by their operators and an individual rating score that reflects past behavior. Validators with a higher rating are more likely to be selected. This approach encourages fair competition among validators, urging them to keep their operations running smoothly.

Developers can build on MultiversX by utilizing its robust Web3 infrastructure and a range of resources. The platform provides extensive documentation and guides to assist developers in getting started. Developers can make use of the MultiversX Smart Contract Framework, which is recognized as a well-structured smart contract framework on MultiversX. The platform also provides a WASM-based Virtual Machine for running MultiversX Smart Contracts and guides on how to integrate the MultiversX network into their applications. For those who are interested in contributing to the network's security, there is an option to become a node operator. The platform presents a variety of community resources, including smart contracts, SDKs, dev libraries, articles, and tutorials. Developers can stay informed about recent updates to the protocol, API, and developer tooling through regular updates.

EGLD, also known as eGold serves multiple purposes, including powering transactions, facilitating network governance, and running smart contracts. EGLD holders have the potential to participate in on-chain governance, which includes voting on network upgrades. This participation contributes to the network's decision-making process. EGLD serves as a non-monetary incentive for contributors who assist in securing the network by processing transaction batches on the blockchain. The token also powers computation within the network, aiding in the maintenance of the network and the execution of smart contracts. EGLD operates on a capped issuance model, indicating that a predetermined number of tokens is the maximum that can be created, with a maximum theoretical limit of 31.4 million. This scarcity is intended to encourage participation in the MultiversX network.

The MultiversX team contributes to its development through a variety of initiatives that aim to foster a vibrant and innovative ecosystem. They host events such as the MultiversX Hub Denver, which provides learning paths for developers to migrate to their ecosystem, coding challenges, and collaboration opportunities. This event is part of a global outreach effort that aims to attract new developers and expand the community. The team organizes coding challenges with non-monetary recognition for their efforts, aiming to encourage developers to explore the MultiversX tech stack and build products powered by it. The team also strives to onboard the global developer community and provide them with career opportunities in Web3. They collaborate with various tech communities, aiming to offer improvements within the blockchain architecture and contribute to the evolution of the cryptocurrency space.

MultiversX, Algorand, and Ethereum 2.0 are all blockchain platforms that strive to improve scalability, security, and efficiency in the cryptocurrency space. MultiversX is designed with the intention of handling high transaction volumes. It introduces a genuine state sharding scheme for practical scalability, eliminating energy and computational waste while ensuring distributed fairness through a Secure Proof of Stake (SPoS) consensus. Algorand, on the other hand, uses a random selection mechanism for its consensus protocol. MultiversX takes a different approach by reducing the latency, allowing each node in the shard to determine the members of the consensus group at the beginning of a round. Ethereum 2.0, like MultiversX, is transitioning to a Proof of Stake consensus mechanism and is introducing sharding to improve scalability. MultiversX is designed with the intention of incorporating both transaction and state sharding, completely eliminating the need for energy-intensive Proof of Work algorithms. When it comes to participation, Ethereum 2.0 and MultiversX have different requirements for users who wish to participate in their respective networks. MultiversX, Algorand, and Ethereum 2.0 each have their unique approaches to improving scalability, security, and efficiency in the cryptocurrency space.

An ESDT, or eStandard Digital Token, is a general standard token of the MultiversX blockchain platform. It's similar to the ERC20 token standard in other blockchain networks. ESDTs are embedded in the MultiversX protocol, allowing users to issue their own tokens using the network's parameters. ESDTs can be minted and transferred within the network's parameters. Various ESDTs have been developed for use within the network. ESDTs can be issued, owned, and held by any account on the MultiversX network, with users and smart contracts having access to similar functionalities. ESDTs provide several functionalities, including the ability to mint new tokens after their initial release, burn tokens, pause/unpause all operations except minting and burning, and transfer ownership.

EGLD operates under a model that is designed to manage supply as adoption progresses. The maximum token supply of EGLD is 31,415,926, with a circulating supply of 24,184,559, which is approximately 77% of the total max supply. The token is used for network transactions, participation in network consensus, and governance. MultiversX's blockchain protocol is designed with efficiency in mind, utilizing a Secure Proof of Stake (SPoS) consensus mechanism. The SPoS consensus mechanism seeks to reduce the need for energy-intensive mining. This approach strives to contribute to the security of the network without negatively impacting sustainability. When processing the same amount of transactions, MultiversX's protocol is designed with efficiency in mind compared to traditional Proof-of-Work blockchains. This makes EGLD a choice with environmental considerations in the cryptocurrency space.