MultiversX (EGLD) - Coin of the Week
MultiversX is a Romanian blockchain project developed to solve the problem of scalability in the crypto world. The platform is based on smart contracts, being one of the most ambitious blockchain projects that aim to compete with Ethereum (ETH) technology.
The history of MultiversX (EGLD)
The MultiversX blockchain platform was launched under the name Elrond in 2017 by a team from Sibiu. After a series of financings in 2019, the EGLD cryptocurrency was issued in 2020. The project aims to create a scalable platform for decentralized applications and to be an important presence in the crypto transaction space.
In November 2022, during an event held in Paris (X Day Paris), the Elrond Network team announced that it was going through a rebranding process, the Elrond thus becoming MultiversX, a platform dedicated to specialized solutions on the Metaverse ecosystem .
In this rebranding process, the following changes took place:
- Maiar Exchange became xExchange;
- Maiar App is replaced by a new application, xPortal;
- Maiar Launchpad became xLaunchpad;
- Ad Astra Portal became MultiversX Bridges;
- Elrond Web Wallet became MultiversX Wallet;
- Elrond Explorer changed its name to MultiversX Explorer;
- Inspire Art became xSpotlight.
The solutions of the companies that are already part of the MultiversX, Utrust and TwisPay group generate a new product for the company, namely xMoney;
In addition, 2 new applications were added to the ecosystem, namely XFabric and XWorlds.
At the same time, the EGLD cryptocurrency is designed to offer more security and privacy to users. This aspect, but also the way the blockchain network works, has determined the increase in interest in the EGLD cryptocurrency.
How does MultiversX work?
The scalability of MultiversX (EGLD) is achieved through what is called "sharding". This technique divides the data into smaller pieces, which are distributed in different areas of the network. The solution improves communication within the blockchain network and increases the speed with which MultiversX (EGLD) cryptocurrency can be transferred. For example, while Ethereum (ETH) blockchain technology can support 13 transactions per second, the MultiversX platform estimates that their technology can facilitate up to 15,000 in a similar amount of time.
The MultiversX (EGLD) cryptocurrency is supported by a system called "secure proof of stake". The process keeps all the computers running MultiversX blockchain technology connected and ensures better speed but also increased security compared to other protocols.
Applications from the MultiversX ecosystem:
- xExchange
- xPortal
- xLaunchpad
- MultiverseX Bridges
- MultiversX Wallet
- MultiversX Explorer
- xSpotlight
- xMoney FIAT
- xMoney Crypto
- xFabric MultiverseX
- xPortal MultiverseX
- xWorlds MultiverseX
For more information about EGLD, go to the MultiversX (EGLD) Price page.
MultiversX Advantages
- Sustainability MultiversX
- Applicability of MultiversX
- MultiversX Scalability
- MultiversX Security
For more information about EGLD, go to the MultiversX (EGLD) Price page.
MultiversX in 2023
Lucian Mincu, co-founder of MultiversX, announced a series of major improvements to the project's infrastructure. The first change brought in 2023 was the transition of the DEX (decentralized exchange) service to a new domain.
MultiversX Financial Indicators
Market Cap: 986 million EURO
MultiversX price today: 39 EURO
MultiversX trading volume (24 hours): 21 million EURO
MultiversX Community
https://twitter.com/MultiversX
MultiversX Latest News
- MultiversX a lansat xSpotlight, o aplicatie pentru solutii Web3. Aplicatia xSpotlight gestioneaza proiecte Web3 si ofera un serviciu de cautare pentru proiecte NFT si obiecte digitale de colectie.
How to Buy MultiversX (EGLD)
On Tradesilvania you can buy and sell MultiversX or other types of cryptocurrencies, such as Ethereum (ETH) and Solana (SOL). Add your EGLD tokens in our Savings Service and earn a passive income.