What is MultiversX?
MultiversX is a distributed, scalable, and secure blockchain network designed for next-gen applications. It utilizes a sharded state architecture and a Secure Proof of Stake consensus mechanism to achieve scalability, speed, security, and energy efficiency. MultiversX's native cryptocurrency is EGLD (eGold), which serves various functions within the network, including staking, rewarding validators, and facilitating value transfer.
MultiversX goals
The purpose of MultiversX is to provide a robust foundation for communities, applications, organizations, and digital assets. The project aims to support decentralized applications, enterprise use cases, and the evolving internet economy through its advanced blockchain architecture. MultiversX enables users to create and manage their accounts from anywhere in the world, at any time, without relying on a central authority.
MultiversX fondamentals
There is a maximum supply of 27694908 EGLD EGLD. The initial supply of 20 million EGLD would be subject to a 10-year inflation plan. Through staking rewards, this set an initial inflation rate of approximately 10.8% over the course of the first year, with inflation slowly decreasing over a decade to 0.57% in the final year.
Marketcap
$1.464B
Total number of MultiversX
27694908 EGLD
MultiversX technology
MultiversX's technology uses adaptive state sharding to split its chain into smaller parts, allowing it to process more transactions efficiently. It also utilizes Secure Proof of Stake, a consensus mechanism that randomly selects validators to process transactions and add blocks to the chain. The network further speeds up this process by choosing these validators more quickly, all while spreading validators among the shards.
MultiversX competitors
MultiversX differentiates itself from competitors through its adaptive state sharding, Secure Proof of Stake, and its own virtual machine. These features allow it to process more transactions efficiently, making it a fast and scalable network. Its competitive advantages include its ability to handle high volumes of transactions at fast speeds while maintaining decentralized security.
MultiversX price history
Frequently asked questions
MultiversX is a distributed, scalable, and secure blockchain network designed for next-gen applications.
The native cryptocurrency of MultiversX is EGLD (eGold).
The maximum supply of EGLD is 27694908 EGLD.
MultiversX's adaptive state sharding splits its chain into smaller parts, allowing it to process more transactions efficiently.
Secure Proof of Stake is a consensus mechanism that randomly selects validators to process transactions and add blocks to the chain.
The MultiversX Virtual Machine is a framework that supports smart contracts, allowing developers to write executable code in multiple programming languages.
MultiversX provides a wide range of use cases, including supporting NFTs, DeFi, and enterprise applications due to its user-friendly experience and low transaction fees.
MultiversX ensures extra security with on-chain two-factor authentication (2FA), which assigns a Guardian (in the form of an authenticator app) to double-sign transactions and prevent funds from being stolen.
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