What Is MultiversX? Empowering the New Metaverse Frontier
In the dynamic world of blockchain technology, where innovation drives progress, MultiversX emerges as a trailblazing force set to redefine the future of decentralized networks.
With its high scalability, robust security, and commitment to opening the doors to the new metaverse frontier, MultiversX stands as a beacon of possibilities for users, businesses, and society as a whole.
At the heart of MultiversX lies its native token, EGLD (Electronic Gold), a symbol of the platform’s ambition to become a store of value currency and a means of payment for network transactions.
With the power of sharding, MultiversX boasts exceptional transaction speeds of 15,000 transactions per second, incredibly low latency of just six seconds, and transaction costs as low as $0.001.
This efficiency sets it apart from traditional blockchain networks, making it an attractive option for a wide range of applications.
Empowering developers is a key aspect of MultiversX’s mission, allowing them to deploy smart contracts, protocols, and decentralized applications on the platform.
As EGLD incentivizes community participation and plays a pivotal role in network governance, the platform fosters a community-driven environment that values active contributions from its users.
Founded by visionaries Beniamin Mincu, Lucian Mincu, and Lucian Todea, MultiversX’s journey began with a commitment to address the challenges of blockchain scalability.
Since its mainnet launch in July 2020, the platform has continued to evolve, gaining momentum and capturing the imagination of investors and enthusiasts worldwide.
Join us on a journey through the exciting world of MultiversX as we explore its unique features, the role of EGLD, the visionaries behind the project, and its potential impact on the future of the blockchain landscape.
MultiversX is poised to unlock new horizons in the metaverse, ushering in an era of transformative possibilities for all.
MultiversX – Enabling the New Metaverse Frontier
The world of blockchain technology has seen remarkable advancements in recent years, giving rise to various networks that aim to revolutionize industries and societies alike.
Among these innovative platforms is MultiversX, a highly scalable, secure, and decentralized blockchain network that seeks to open up the new metaverse frontier, offering exciting possibilities for users, businesses, and society as a whole.
What is EGLD and the MultiversX Coin?
At the heart of MultiversX lies its native token – EGLD, short for Electronic Gold.
EGLD serves as the primary currency within the Elrond ecosystem, a blockchain protocol that powers MultiversX.
The concept of “Electronic Gold” embodies the token’s role as a store of value and a means of payment for network usage.
The Speed and Efficiency of MultiversX
One of the key features that set MultiversX apart from other blockchain networks is its impressive transaction speed and efficiency.
By employing sharding, MultiversX achieves extremely fast transaction speeds, boasting the capacity for 15,000 transactions per second.
Additionally, the platform offers a latency of only six seconds and remarkably low transaction costs, at just $0.001 per transaction.
The Role of EGLD in MultiversX
EGLD plays a pivotal role within the MultiversX ecosystem, incentivizing community participation and rewarding active contributors.
As a medium of exchange, EGLD facilitates seamless transactions between platform users and validators, who provide essential services to the network.
Empowering Developers with EGLD
MultiversX and its EGLD token provide a robust infrastructure for developers to deploy smart contracts, protocols, and decentralized applications (dApps).
This empowers participants to execute a wide array of network actions, unleashing a myriad of possibilities for the growth and expansion of the platform’s ecosystem.
The Power of Governance: EGLD Holder’s Influence
Beyond its utility as a means of payment and an incentivization mechanism, EGLD also possesses governance functionalities.
Holders of the token have the power to actively participate in shaping the future of the MultiversX network by voting on important decisions and proposals.
MultiversX’s Journey – From Inception to Mainnet
The journey of MultiversX began in August 2019 when the project was first announced, capturing the attention and curiosity of the blockchain community.
Building on years of research and development, the team behind MultiversX worked tirelessly to bring their vision to life.
Finally, in July 2020, the MultiversX mainnet was launched, marking a significant milestone in the project’s evolution.
The mainnet’s release brought MultiversX closer to its goal of enabling a new internet era, one that embraces fintech, decentralized finance, and the Internet of Things.
MultiversX Coin EGLD Price Prediction for 2025
As MultiversX continues to gain traction and showcases its potential in transforming industries, investors and enthusiasts alike eagerly speculate about the future price of its native coin, EGLD.
According to current analyses and forecasts, the MultiversX, EGLD price prediction for 2025 spans between $87.81 on the lower end and $221.67 on the higher end.
If EGLD reaches the upper price target, this would represent a staggering gain of 583.31% compared to the token’s current value.
MultiversX stands as a promising blockchain protocol with its sights set on the new metaverse frontier.
With its exceptional transaction speed, efficiency, and the versatility of its native EGLD token, the platform is well-positioned to carve a unique path in the world of blockchain technology.
As the project continues to grow and mature, its potential impact on users, businesses, and society could be nothing short of transformative.
Investors and enthusiasts keenly await the developments that lie ahead for MultiversX and its journey to reshape the digital landscape.
The Visionaries Behind MultiversX – Meet the Founders
The inception of MultiversX can be traced back to late 2017 when three visionary individuals came together with a shared goal of addressing blockchain scalability – a critical challenge faced by the industry.
The founders of MultiversX are the talented brothers Beniamin and Lucian Mincu, along with Lucian Todea, each bringing their expertise and experience to the table.
Beniamin and Lucian Mincu – Pioneers in Blockchain
Before co-founding MultiversX, Beniamin, and Lucian Mincu embarked on several remarkable ventures in the blockchain space.
They established MetaChain Capital, a digital asset investment fund, with Beniamin serving as the CEO and Lucian as the chief technology officer.
Their passion for the crypto realm also led them to co-found ICO Market Data, a platform that aggregates information about initial coin offerings.
Beniamin Mincu’s contributions to the blockchain industry extend beyond the realm of entrepreneurship.
He previously held responsibilities related to product, marketing, and community development at NEM, a prominent blockchain platform.
Moreover, he is an early investor in various successful projects, including Zilliqa (ZIL), Tezos (XTZ), Brave, and Binance, reflecting his keen eye for promising innovations.
Lucian Mincu’s expertise as an information technology engineer and security specialist further strengthens MultiversX’s technological prowess.
Prior to his involvement with MultiversX, he garnered experience working with companies like Uhrenwerk 24, Cetto, and Liebl Systems.
Lucian Todea – A Serial Tech Entrepreneur
Completing the trio of founders is Lucian Todea, a serial tech entrepreneur with a remarkable track record.
He is renowned for his role as the founder and CEO of Soft32, a well-known software review and download site.
Additionally, Lucian Todea served as a partner of mobilPay, a mobile payments application, contributing to its growth and success.
As an angel investor, Lucian Todea has demonstrated a keen interest in cutting-edge technologies and forward-thinking ventures.
He has made strategic investments in companies like TypingDNA, a biometrics tech company, and SmartBill, an accounting platform.
Unlocking the New Internet Economy – MultiversX’s Unique Features
MultiversX positions itself as a pioneering blockchain platform designed not only for decentralized applications and enterprise use but also for the new Internet economy.
At the core of its value proposition lies an innovative solution for blockchain scalability, setting it apart from its competitors.
The Scalability Revolution – MultiversX’s Sharding Approach
One of the standout features of MultiversX is its high scalability, made possible through a groundbreaking sharding approach.
The platform prides itself on being the first blockchain network to implement state, network, and transaction sharding in unison.
In practical terms, MultiversX operates with 2,169 validator nodes that are distributed across four shards.
Among these shards, three are execution shards, each capable of processing an impressive 5,400 transactions per second.
The fourth shard, aptly named the “Metachain,” plays a vital role in coordinating and finalizing transactions.
The adaptive state sharding architecture utilized by Elrond, the underlying blockchain protocol of MultiversX, ensures that state, transactions, and network are all effectively sharded.
This dynamic setup allows the platform to scale effortlessly by introducing additional shards to meet the growing demand for throughput.
To demonstrate its capabilities, MultiversX underwent rigorous testing, successfully processing a staggering 263,000 transactions per second in a public environment.
The testing involved 1,500 nodes from 29 countries, divided into 50 shards.
Empowering Developers – Building on MultiversX
MultiversX is not only focused on scalability but also on fostering a vibrant ecosystem that encourages developer participation.
To increase adoption and attract developers to the platform, MultiversX offers an enticing incentive structure.
Developers building on MultiversX’s infrastructure have the opportunity to earn 30% of the smart contract fees as royalties.
This unique approach not only benefits developers but also contributes to the expansion and enrichment of the platform’s decentralized application landscape.
Controlled Supply – EGLD Tokenomics
MultiversX’s economic model adheres to a controlled supply mechanism, starting with an initial supply of 20,000,000 EGLD tokens.
These tokens are gradually minted and rewarded to network validators.
The maximum supply of EGLD tokens is capped at 31,415,926.
However, this maximum supply is designed to decrease over time as more transactions are processed on the network.
This deflationary model adds an interesting dynamic to the token’s scarcity and value proposition.
Token Distribution – An Inclusive Approach
The distribution of EGLD tokens reflects MultiversX’s commitment to fostering a fair and inclusive ecosystem.
The initial availability of EGLD for purchase was facilitated through a private sale, during which 19% of the token’s initial supply was sold.
Of this amount, 7.5% was immediately available upon token generation, with an additional 15.41% released every three months.
The distribution process also included an initial exchange offering on Binance, during which 25% of the total supply was sold and made immediately available.
The remaining 56% of the token supply was allocated for various purposes, including ecosystem rewards, marketing, grants, a community fund, and incentives for the founders and core team members.
Transition to Mainnet – A Token Swap Event
The journey of the EGLD token began on the Binance Chain, where it was initially issued under the name ERD with a total supply of 20 billion tokens.
In November 2019, 500 million ERD tokens were permanently removed from circulation through a token burn.
To optimize its functionality, the company initiated a token swap event in September 2020.
During the token swap event, holders of the ERC-20 and BEP-2 versions of the token were given the opportunity to exchange them for the mainnet EGLD tokens at a ratio of 1,000 ERD for 1 EGLD.
This process led to a significant reduction in the total token supply, which was effectively reduced from 20 billion to 20 million EGLD tokens.
A Robust Security Framework – Safeguarding the MultiversX Network
As with any blockchain network, security is of paramount importance to MultiversX.
The project employs a secure proof-of-stake consensus algorithm to ensure the integrity and robustness of the network.
Staking and Consensus – The Validator’s Role
In MultiversX’s secure proof-of-stake consensus algorithm, nodes that wish to participate in the validation process must stake their EGLD tokens.
This requirement incentivizes validators to act honestly and responsibly, as their tokens are at stake.
The reputation of validators is continuously evaluated through a rating system based on their past activities.
This rating score influences their selection as validators for future transactions.
Should a validator’s rating drop below an acceptable threshold, they may be excluded from the validation process and face penalties.
Preventing Collusion – Shuffling for Security
To prevent collusion and enhance network security, validators are randomly shuffled between shards periodically.
This approach ensures that the selection process for validators is unbiased and cannot be predicted or manipulated based on previous rounds of validations.
Additionally, MultiversX employs a modified Boneh-Lynn-Shacham (BLS) multi-signature scheme to enable secure communication among nodes.
This cryptographic protection adds an extra layer of security to the network.
Getting Your Hands on EGLD – Where to Buy MultiversX
For those intrigued by MultiversX’s potential and eager to own some EGLD tokens, the process of acquisition is relatively straightforward.
Cryptocurrency Exchanges – Your Gateway to EGLD
EGLD can be acquired through various cryptocurrency exchanges, including reputable platforms such as Binance, OKEx, Bitfinex, and BitMax.
These exchanges offer the flexibility to trade EGLD against different fiat currencies, such as the U.S. dollar and Indonesian rupiah, as well as other cryptocurrencies like Bitcoin (BTC) and Binance Coin (BNB), and stablecoins like Tether (USDT) and Binance USD (BUSD).
In conclusion, MultiversX, co-founded by the visionary minds of Beniamin Mincu, Lucian Mincu, and Lucian Todea, stands out as a trailblazing blockchain platform.
With its unparalleled scalability and the revolutionary EGLD token at its core, MultiversX is poised to unlock the new internet economy and redefine the possibilities of decentralized applications.
As the project continues to develop and gain traction, it is likely to leave a lasting impact on the blockchain industry, empowering developers and users alike to participate in the exciting journey toward the future of the digital landscape.