What is MultiversX?

MultiversX (formerly Elrond) is a high-performance blockchain platform designed for scalability, security, and efficiency, enabling fast, low-cost transactions for DeFi, NFTs, and enterprise blockchain solutions. Originally launched as Elrond in 2020, the project rebranded to MultiversX in 2022 to expand its focus into the metaverse, Web3 applications, and digital assets.

MultiversX's native token, EGLD, powers the network, serving as a medium of exchange, staking asset, and governance token.

How is MultiversX useful?

MultiversX provides a scalable, high-speed blockchain infrastructure capable of handling thousands of transactions per second, making it ideal for DeFi, gaming, NFTs, and enterprise adoption. Developers benefit from low fees and high efficiency, while users can transact seamlessly within the ecosystem.

The EGLD token is essential for network operations, as it is used for transaction fees, smart contract execution, and staking rewards, allowing holders to earn passive income while participating in governance decisions that shape the platform's future.

How does MultiversX work?

MultiversX utilizes Adaptive State Sharding, which splits the network into multiple shards to process transactions in parallel, significantly boosting speed and scalability. The Secure Proof of Stake (SPoS) consensus mechanism ensures high security and decentralization while reducing energy consumption compared to traditional PoW networks.

MultiversX also features smart contract functionality for dApps and DeFi, cross-chain interoperability to enhance blockchain connectivity, and enterprise-grade blockchain solutions for businesses and institutions.

MultiversX milestones

• Launch of Adaptive State Sharding: Boosted scalability and transaction efficiency.

• Mainnet Deployment: Enabled smart contracts, staking, and DeFi applications.

• Rebranding to MultiversX: Expanded focus to metaverse and Web3 development.

• Expansion of DeFi and NFT Ecosystem: Integrated multiple dApps, DeFi protocols, and NFT projects.

• Enterprise and Institutional Adoption: Partnered with governments and businesses to develop blockchain-based solutions.

MultiversX continues to push blockchain innovation forward, providing a scalable, secure, and energy-efficient infrastructure for the next generation of decentralized applications, Web3, and metaverse technologies.

Buy MultiversX (EGLD) on BITmarkets.