MultiversX

MultiversX is a blockchain protocol that offers horizontal scalability through comprehensive sharding, including Network, Transaction, and State. It positions itself as an ecosystem for the new internet era, incorporating decentralized finance (DeFi), real-world assets, and the Metaverse. The platform's smart contracts execution reportedly allows up to 100,000 transactions per second with a 6-second latency and a $0.002 transaction cost.

EGLD: MultiversX's Native Token

The governance and security of MultiversX are facilitated by its native token - EGLD (Electronic Gold). This token serves multiple purposes within the network. It acts as a store of value currency for paying network usage fees and also functions as a medium of exchange between users and validators on the platform.

Users can pay transaction fees using EGLD while validators partake in the consensus process. Developers can use EGLD to deploy smart contracts, protocols, and decentralized applications (dApps) on the platform. Additionally, it provides staking and validation rewards besides transaction fees.

Beyond these functionalities, EGLD also doubles as a governance token, allowing holders to vote on network decisions.

How MultiversX Operates

MultiversX employs three types of parallelization - state, transactions, and network - to expedite processing time and enhance transaction volume. By leveraging Adaptive State Sharding, it scales while sharing infrastructure to support an increasing number of applications/transactions on the ledger.

MultiversX uses its unique adaptive sharding method that divides the network into four shards: three execution shards processing transactions at high speeds and one "Metachain" shard coordinating and completing transactions.

The Uniqueness of MultiversX

MultiversX distinguishes itself as a blockchain platform for the new internet economy, decentralized applications, and enterprise use. Its main attribute is its high scalability, being the first blockchain network to implement state, network, and transaction sharding.

According to its economics paper, MultiversX aims to establish EGLD as a store-of-value asset by building up its ecosystem. To encourage adoption, it supports developers on the platform by allowing them to earn 30% of the smart contract fees as royalties.

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