About MultiversX (EGLD)
MultiversX is a blockchain-based protocol aiming to achieve comprehensive scalability through employing the full spectrum of sharding techniques - Network, Transaction, and State. According to the team, MultiversX positions itself as a versatile technological framework for the next generation internet, encompassing decentralized finance, tangible assets, and the Metaverse domain. The platform for executing smart contracts is said to have the capacity for processing up to 100,000 transactions every second, complemented by minimal latency and comparatively lower transaction fees.
MultiversX optimizes transaction speeds and scalability through Adaptive State Sharding. This method enables parallel processing to handle an increasing volume of transactions efficiently. It employs a modified proof-of-stake protocol to ensure seamless connectivity across the network's divided segments, fostering a unified environment for dApp development. The network is segmented into four shards: three execution shards processing up to 30,000 transactions per second each, and a Metachain shard that coordinates and finalizes transactions. This structure enhances communication and network efficiency, supporting the platform's expansive transactional capacity.
EGLD, the native token of MultiversX, is used for governance, security, payments, and voting on network decisions, also enabling the deployment of smart contracts and dApps. The live price of EGLD is updated and available in real time on Binance.
