$3.68

MultiversX is a blockchain platform designed to scale horizontally by implementing sharding across network, transaction, and state layers. It aims to support a new internet ecosystem, including decentralized finance, real-world assets, and the Metaverse. The network claims to handle up to 100,000 transactions per second with six-second latency and a transaction cost of $0.002. EGLD, its native token, serves as a store of value, a medium of exchange for transaction fees, and a governance token. It also enables developers to deploy smart contracts and dApps, while validators stake EGLD to secure the network and earn rewards.

MultiversX was founded in late 2017 by Beniamin Mincu, Lucian Mincu, and Lucian Todea. The Mincu brothers previously co-founded MetaChain Capital, a digital asset investment fund, and ICO Market Data, an ICO information aggregator. Beniamin also worked on product and marketing for NEM and invested early in projects like Zilliqa, Tezos, Brave, and Binance. Lucian Mincu has a background as an IT engineer and security specialist. Lucian Todea is a tech entrepreneur who founded Soft32 and was a partner at mobilPay, also investing in startups like TypingDNA.

MultiversX stands out for its implementation of all three types of sharding—state, network, and transaction—which it claims to be the first to achieve. The network operates with 3,200 validator nodes divided into four shards: three execution shards and one coordination shard called the Metachain. This architecture allows for scalability by adding more shards as demand grows. In a public test, it achieved 263,000 transactions per second with 1,500 nodes across 29 countries. Additionally, developers can earn 30% of smart contract fees as royalties, incentivizing dApp creation.

MultiversX employs adaptive state sharding, which combines state, transaction, and network sharding to parallelize processing and increase throughput. The network is divided into four shards: three execution shards handle transactions, while the Metachain coordinates and finalizes them. Validators are secured through a proof-of-stake mechanism, and the system uses random selection and periodic shuffling between shards to prevent collusion. Communication among nodes uses modified Boneh-Lynn-Shacham multi-signatures for cryptographic security. This design aims to support high transaction volumes while maintaining decentralization.

MultiversX has an initial supply of 20,000,000 EGLD, with a maximum cap of 31,415,926 EGLD. New tokens are minted as rewards for validators. The initial distribution included a private sale (19% of supply), an IEO on Binance (25%), and allocations for ecosystem rewards, marketing, community fund, advisors, and the founding team. Specific release schedules varied, with some tokens unlocked immediately and others over time, up to 42 months for the team's portion.

MultiversX uses a secure proof-of-stake consensus where validators must stake EGLD to participate. Each validator has a rating based on past performance, which affects selection; low ratings can lead to fines or removal. Validators are randomly selected in an unpredictable way and are periodically shuffled between shards to prevent collusion. The network uses modified Boneh-Lynn-Shacham (BLS) multi-signatures for cryptographic security, ensuring strong protection for node communications.

EGLD is available on several cryptocurrency exchanges, including Binance, OKEx, Bitfinex, and BitMax. It can be traded against fiat currencies like USD and IDR, cryptocurrencies such as BTC and BNB, and stablecoins like USDT and BUSD. Both spot and derivatives markets are supported.