MultiversX Price

About the coin

MultiversX is a blockchain protocol designed to provide true horizontal scalability by utilizing all aspects of sharding, including Network, Transaction, and State. It is described as a technology ecosystem for the new internet, encompassing decentralized finance, real-world assets, and the Metaverse. The platform's smart contracts execution is capable of handling up to 100,000 transactions per second, with a latency of 6 seconds and a transaction cost of $0.002. The EGLD token, also known as Electronic Gold, governs and secures MultiversX. It serves as a store of value currency for network usage, a medium of exchange between users and validators, and a means to pay transaction fees. EGLD also enables developers to deploy smart contracts, protocols, and dApps on the platform, empowering participants to perform any network action. Through staking, validation rewards, and transaction fees, EGLD manages the MultiversX network and functions as a governance token, allowing holders to vote on network decisions.

Main features

MultiversX implements three types of parallelization: state, transactions, and network, using parallel processing to speed up transactions. It employs Adaptive State Sharding to scale while sharing infrastructure to support a growing number of applications and transactions. A variation of the traditional PoS operational protocol ensures the connection of all network sections during sharding. The integrated environment supports the development of dApps, imitating products and services. MultiversX combines three sharding methods to create its unique adaptive sharding, dividing the network into four shards: three execution shards processing transactions and one Metachain shard coordinating and completing transactions. Sharding types include State sharding, where the network's history is distributed across different sections, Transaction sharding, where transactions are mapped to segments and processed in parallel, and Network sharding, where nodes are grouped into segments for optimized communications.

How it works

MultiversX's adaptive state sharding architecture completely shards state, transactions, and network, allowing it to scale by adding additional shards when needed. It was tested to run 263,000 TPS in a public environment with 1,500 nodes from 29 countries grouped in 50 shards. To increase adoption, the blockchain supports developers building on the platform, allowing them to earn 30% of the smart contract fees as royalties. MultiversX aims to establish EGLD as a store-of-value asset by building its ecosystem and supporting decentralized applications and enterprise use. Its high scalability and unique sharding implementation make it a standout platform in the blockchain space.