MultiversX (EGLD)
MultiversX is a blockchain protocol designed to offer horizontal scalability by incorporating all facets of sharding: network, transaction, and state. It aims to create a robust technology ecosystem for the new internet, encompassing decentralized finance, real-world assets, and the Metaverse. Known for its high transaction speeds and low latency, MultiversX is powered by the native token EGLD (Electronic Gold), which plays a central role in network governance and operations.
Core features of MultiversX
MultiversX stands out for its integration of three types of parallelization: state, transactions, and network. This approach leverages parallel processing to enhance transaction speed and scalability. The platform's Adaptive State Sharding allows it to scale efficiently while sharing infrastructure, supporting a growing number of applications and transactions on its ledger.
| Ticker | EGLD |
| Category | Protocol |
| Website | https://multiversx.com/ |
| @MultiversX | |
| Telegram | MultiversX |
| https://www.reddit.com/r/elrondnetwork/ |
Adaptive State Sharding
Adaptive State Sharding is a key feature of MultiversX, enabling the network to handle a large volume of transactions by dividing the workload among different shards. The network is segmented into four shards: three execution shards responsible for processing transactions and the Metachain, which coordinates and finalizes transactions.
- State sharding: Distributes the network's history or state across different segments. Each segment has its own ledger, and nodes are responsible for storing the state of their respective segments.
- Transaction sharding: Maps transactions to segments where they are processed in parallel. Nodes capture the state of the entire network, ensuring synchronized transaction processing.
- Network sharding: Involves grouping nodes into segments for processing, optimizing communication across the network.
The role of EGLD in MultiversX
EGLD, or Electronic Gold, is the native token of MultiversX and serves multiple purposes within the network. It acts as a store of value and a medium of exchange, enabling users to pay transaction fees and participate in the consensus process. Additionally, EGLD facilitates the deployment of smart contracts, protocols, and decentralized applications (dApps) on the platform.
Governance and staking
EGLD is endowed with governance capabilities, allowing token holders to vote on network decisions. This participatory governance model ensures that the community has a say in the evolution of the platform. Through staking, users can earn validation rewards, contributing to the network's security and efficiency.
Unique attributes of MultiversX
MultiversX prides itself on being a blockchain platform tailored for the new internet economy, with a focus on decentralized applications and enterprise use. It claims to be the first blockchain network to implement a combination of state, network, and transaction sharding. This unique approach enables the network to scale by adding shards as needed, accommodating increased throughput demands.
Ecosystem and developer support
The network architecture of MultiversX supports up to 3,200 validator nodes, divided into multiple shards to optimize transaction processing. It has been tested to achieve high transaction throughput in public environments, demonstrating its scalability potential. To foster ecosystem growth, MultiversX offers incentives to developers, allowing them to earn 30% of the smart contract fees as royalties. This initiative encourages the creation of innovative applications on the platform.