MultiversX

Type

Utility Token

Launched

July 2020

Ecosystem

MultiversX

Initial Investment

In June 2019, MultiversX conducted a private investment round, raising $1.9 million from angel investors. The same month, it held an Initial Exchange Offering (IEO) that raised $3.25 million in exchange for 25% of its total token supply.

Visit Project

MultiversX is a high-performance blockchain platform designed to support next generation decentralized applications and digital assets. Originally launched as Elrond in 2020, the platform rebranded to MultiversX in 2022 to reflect its expanded vision of integrating the multiverse, NFTs, and decentralized finance. The network employs innovative technologies to achieve scalability, security, and speed, making it suitable for a wide range of applications.

Key Metrics

Average Transaction Cost: Approximately $0.002
Total Transactions: Over 434 million
Validator Nodes: More than 3,200

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Key Features

Adaptive State Sharding: MultiversX utilizes a unique sharding mechanism that partitions the blockchain into smaller segments, or shards, allowing parallel processing of transactions and smart contracts. This approach enhances throughput and efficiency, enabling the network to handle a high volume of transactions simultaneously.
Secure Proof of Stake (SPoS): The platform employs an energy-efficient consensus mechanism that ensures network security through a decentralized network of validators. SPoS reduces the selection time of the consensus group to less than a second, enhancing the speed and security of transactions.
WASM-Based Virtual Machine: MultiversX features a WebAssembly-based virtual machine that allows developers to write smart contracts in familiar programming languages, compile them, and execute them efficiently on the network. This flexibility simplifies the development process and broadens the scope for dApp creation.
EGLD Token: The native eGold (EGLD) token serves as the primary unit of value within the MultiversX ecosystem. It is used for transaction fees, staking to secure the network, and participating in governance decisions.

Ecosystem

MultiversX has established partnerships with leading companies to enhance its infrastructure and expand its ecosystem. Notable collaborations include:

Google Cloud, Telekom, Tencent Cloud, AWS: Providing cloud infrastructure and services to support the network’s operations.
Ledger: Offering hardware wallet support for secure storage of EGLD tokens.
Opera: Integrating MultiversX into its web browser for seamless user access.

Additionally, MultiversX has launched products such as xPortal, a multi-purpose Wallet App for storing cryptocurrency and NFTs. More information on MVX ecosystem partners can be found on:

https://multiversx.com/ecosystem/partners

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