MultiversX ( EGLD) is a Romanian blockchain project similar to Bitcoin, Ethereum, Solana that aims to solve the problem of scalability in the crypto world. The MultiversX platform is based on smart contracts and is one of the most ambitious blockchain projects that aims to develop the infrastructure for the Metaverse.
How the MultiversX cryptocurrency (EGLD) - formerly Elrond - emerged
The MultiversX blockchain platform was launched as Elrond in 2017 by a team from Sibiu, Romania, a reputable team of 25 people - software engineers and researchers. After a series of funding rounds in 2019, the EGLD cryptocurrency was issued in 2020. The MultiversX project aims to create a scalable platform for decentralized applications and be a major presence in the crypto transaction space worldwide.
In November 2022, at an event held in Paris (X Day Paris), the Elrond Network team announced that Elrond is changing its name to MultiversX cryptocurrency, a platform dedicated to specialized Metaverse solutions.
How does the EGLD cryptocurrency work?
The scalability of the MultiversX cryptocurrency (EGLD) is achieved through what is called "sharding". This technique divides the data into smaller pieces, which are distributed in different spaces of the Multiversx network. The solution improves communication within the MultiversX blockchain network and increases the speed at which MultiversX cryptocurrency (EGLD) 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 transactions/second.
The MultiversX cryptocurrency (EGLD) is backed by a system called "secure proof of stake". The process keeps all computers running MultiversX blockchain technology linked and ensures better speed but also better security than other blockchain and crypto protocols.
The main decentralized applications in the MultiversX ecosystem:
- xExchange - decentralized crypto transaction platform
- xPortal - the main user interface in the MultiversX ecosystem
- xLaunchpad - strategic launchpad for sustainable impact projects in the blockchain ecosystem
- MultiversX Bridges - suite of smart contracts that provides a decentralized way to transfer crypto tokens between MultiversX and the Ethereum network
- MultiversX Wallet - an electronic wallet where digital assets and cryptocurrencies can be transferred, received, and stored
- xSpotlight - cultural hub for the most important Web3 projects and NFT collections in the MultiversX ecosystem
- xFabric - an independent blockchain network enabling rapid development of NFT applications and features for companies and artists
- xWorlds - an application for the development of digital universes (Metaverse) that enables a high level of interoperability within the MultiversX network
MultiversX cryptocurrency (EGLD) is designed to provide more security and privacy to users. This aspect, as well as the way the blockchain network works, has led to a growing interest in the EGLD cryptocurrency.
How to buy EGLD - MultiversX?
The fastest way to buy EGLD is on a crypto trading platform or an OTC (Over the desk ) broker to buy large amounts of MultiversX (EGLD) with buying commissions starting at 0%. By investing in EGLD, cryptocurrency trading platforms facilitate fast access to the digital asset ecosystem. One crypto EGLD trading platform is Tradesilvania.com, a company specializing in best cryptocurrency price, OTC desk with 2000+criptocurrence, crypto staking, and custody solutions. The premium Tradesilvania platform features two efficient ways to fund your crypto trading account: SEPA payment in EURO (0% funding fee) and Top-Up with VISA/MC Instant Card in EURO.
The EGLD cryptocurrency on which MultiversX is based allows scalability of cryptocurrency transfers and can be used in finance, business, design, gaming and NFTs.
"MultiversX is one of the most scalable blockchain technologies in the year 2023 and develops through the xPortal, xFabric or xWorlds ecosystem a complete solution for any kind of efficient decentralized and hybrid applications with real-world applicability. MultiversX is one of the most important crypto projects and a Web3 initiative that everyone in the industry should follow." - said Ciprian Dobrescu, CEO Tradesilvania.com
Buying any type of cryptocurrency involves risks, and this is also true for MultiversX (Egld). We recommend you to thoroughly study the crypto ecosystem before investing only amounts you can afford.
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