The live price of MultiversX is - per (EGLD / USD) with a current market cap of $520.56M USD. 24-hour trading volume is - USD. EGLD to USD price is updated in real-time. MultiversX is -% in the last 24 hours with a circulating supply of 28.24M.
| Date Comparison | Amount Change | % Change |
|---|---|---|
| Today | - | 0% |
| 30 Days | - | 0% |
| 60 Days | - | 0% |
| 90 Days | - | 0% |
MultiversX is a blockchain-based protocol that uses multiple types of sharding—network, transaction, and state—to achieve full scalability. According to its team, MultiversX positions itself as a multifunctional technology framework for the next generation of the internet, encompassing decentralized finance (DeFi), tangible assets, and the metaverse. Reportedly, its smart contract execution platform can handle up to 100,000 transactions per second, with ultra-low latency and relatively low transaction fees.
MultiversX enhances transaction speed and scalability through adaptive state sharding and parallel processing, enabling efficient handling of increasing transaction volumes. It uses a modified Proof-of-Stake (PoS) protocol to ensure seamless connectivity between all network components, providing a unified environment for DApp development. The network is divided into four shards: three execution shards, each capable of processing up to 30,000 transactions per second, and one meta-chain shard responsible for coordination and final confirmation. This structure significantly boosts communication and network efficiency, supporting the platform’s powerful transaction capabilities.
EGLD is the native token of MultiversX and is used for governance, security, payments, voting on network decisions, and deploying smart contracts and DApps.
The project has a total token supply capped at 31.42 million EGLD. After the initial release of 20 million tokens, the Elrond protocol plans to gradually release EGLD over the next decade until the maximum supply is reached. Elrond’s token initially launched as ERD on Binance Chain and was later rebranded to EGLD. Currently, the circulating supply is just over 20 million tokens.
EGLD reached its all-time high price of $490 on November 23, 2021, following the announcement of a $1.29 billion liquidity incentive program.
In June 2019, the project raised $1.9 million in a private sale at a price of $0.50 per token. In its Initial Exchange Offering (IEO), 25% of the total token supply was exchanged for $3.25 million at a price of $0.65 per token.
One quarter of the total token supply was allocated to public sales, 15% to private sales, 5% was reserved for future rounds, and the remaining tokens were distributed among staking rewards, grants, the community, advisors, the company, and the team.
Elrond launched the largest DeFi liquidity incentive program.
In November 2021, Elrond announced a $1.29 billion liquidity incentive program to promote its Maiar DEX DeFi platform. The project distributed a total of $282 million worth of its native MEX tokens to DEX users.
CEO Beniamin Mincu stated: “By distributing ownership of Maiar DEX to the next billion users, the project aims to lay the foundation for a truly global financial system accessible to everyone, everywhere.”
The Runtime Verification framework extends commitment to the Elrond ecosystem.
Elrond engaged the NASA-related Runtime Verification framework to develop its core components and application protocols. Since the team’s inception, Elrond has collaborated with Runtime Verification. Elrond announced that the team had extended its commitment to the ecosystem by becoming a non-custodial staking provider.
This not only offers EGLD delegation services but also significantly enhances network security and decentralization. As of September 16, 2022, the Runtime Verification staking pool had 5 active nodes, offering approximately 11% APR with a capped delegation limit.
Elrond was founded in 2017 by Lucian Todea, Beniamin Mincu, and Lucian Mincu. It is operated by Elrond Network, a company based in Malta responsible for the project’s development.
Before founding Elrond, Beniamin Mincu served as Product and Business Lead at Nem Core and co-founded MetaChain Capital, a leading digital asset investment fund, with his brother and engineer Lucian Mincu. Lucian Todea is the founder and CEO of Soft32. He is also a partner at mobilPay and an angel investor in TypingDNA and Smart Bill.
The Elrond protocol is backed by a strong team of entrepreneurs, engineers, and developers with impressive experience and proven success records.
In 2017, Elrond was co-founded by Lucian Todea and the Mincu brothers, Beniamin Mincu and Lucian Mincu. They serve respectively as the Chief Operating Officer, Chief Executive Officer, and Chief Information Officer of Elrond. Todea is a relatively well-known tech entrepreneur and angel investor, while Beniamin Mincu is an early adopter and pioneer in the European blockchain space.
EGLD is the native token of MultiversX. It supports network operation, serves as a medium for transactions, and covers transaction fees. Additionally, it supports the deployment of smart contracts, protocols, and DApps. It also plays a role in network governance through staking and fee incentives, enabling holders to participate in the decision-making process.
MultiversX’s economic model has a limited supply. Initially, only 20,000,000 EGLD tokens were issued, with new tokens minted to reward network validators. The maximum supply cannot exceed 31,415,926 EGLD, and this number may decrease as transaction volume increases. At the time of writing, the circulating supply is 26,693,126 EGLD.
According to the MultiversX crypto team, the project implements parallelization of state, transaction, and network sharding to enhance efficiency and increase throughput.
MultiversX uses adaptive state sharding for scalability, sharing infrastructure to support the growing number of applications and transactions on the ledger. The modified traditional PoS protocol ensures all parts of the network are connected to the platform while operating independently during sharding. This allows developers to build DApps that replicate products and services within an integrated environment.
MultiversX combines three types of sharding to create a unique adaptive sharding model. The network is divided into four shards, three of which are execution shards that process transactions and can verify up to 30,000 transactions per second. The fourth is a meta-chain shard responsible for coordination and finalization.
The shard types include: state shard, where the network's history (i.e., state) is distributed across different parts (shards), each with its own ledger, and nodes only need to store the state of their shard; transaction shard, where transactions are mapped to and processed within shards, allowing parallel processing, and nodes track the overall network state; network shard, which groups and assigns transactions to nodes for processing, optimizing communication.
MultiversX is a scalable blockchain platform designed to support the current internet economy and DApps. Notably, it adopts state, network, and transaction sharding technologies to enhance scalability. EGLD acts as a store of value to strengthen the ecosystem. The network consists of 3,200 validator nodes divided into four shards (three execution shards and one coordinator shard), enabling high-speed transaction processing. It also focuses on developer support by providing 30% of smart contract fees as royalties.
MultiversX uses a modified Proof-of-Stake (PoS) mechanism to achieve consensus. Validators play a crucial role in maintaining the integrity and performance of the network.
The MultiversX to other currencies exchange rate?
