MultiversX (EGLD) Price
EGLD
$41.37
Market cap
1,108,869,045.0
Total volume
23,003,398
Circulating supply
26,870,101
Total supply
26,875,253
At the forefront of blockchain innovation, MultiversX stands as a pioneering protocol that achieves unparalleled horizontal scalability by integrating the full spectrum of sharding techniques (Network, Transaction & State). The initiative positions itself as a foundational pillar for the digital era's internet, encompassing decentralized finance, tangible assets, and the expansive Metaverse. Boasting a high-performance smart contract execution platform, MultiversX delivers impressive capabilities, including conducting up to 100,000 transactions per second, maintaining a minimal 6-second latency, and ensuring transactions cost only $0.002. The governance and security of MultiversX are underpinned by its native token, EGLD, also known as Electronic Gold. This crucial token functions both as a value store to cover network charges and as a transactional medium amongst platform users and validators. In the ecosystem, EGLD is utilized for transaction fees, encouragement of validators through consensus participation, deployment of smart contracts, protocols, and dApps. It furnishes network actors with comprehensive operational capabilities. Staking, validation rewards, and transaction fees are all mechanisms through which EGLD steers the MultiversX network. Furthermore, it adopts a governance token role, empowering holders with decision-making authority over network developments.
Operational Mechanics of MultiversX
The creative minds behind MultiversX elucidate that the project leverages tripartite parallelization: the concurrent optimization of state, transactions, and network elements. This approach significantly accelerates processing times and enhances transactional throughput. By employing Adaptive State Sharding, MultiversX efficiently scales and diversifies its infrastructure to accommodate an ever-increasing volume of applications and transactions within the ledger. An adaptation of the traditional Proof of Stake (PoS) model ensures seamless connectivity across network segments, even amidst sharding activities. This cohesive framework supports the flourishing development of dApps, which replicate various products and services. MultiversX's proprietary sharding technique ingeniously amalgamates three sharding approaches into a singular adaptive model. It segments the network into four distinct shards, with three dedicated to execution—collectively processing up to 30,000 transactions per second—and a fourth, the Metachain, overseeing coordination and settlement. Sharding dimensions encompass: State sharding, which distributes the network's historical data across shards; Transaction sharding, aligning transactions to specific segments for parallel processing; and Network sharding, organizing nodes within these segments to optimize data flow.
The Distinctiveness of MultiversX
MultiversX distinguishes itself as a revolutionary blockchain infrastructure tailored for the burgeoning internet economy, decentralized platforms, and enterprise applications. Its hallmark is unmatched scalability, heralded as the first blockchain architecture to fully implement state, network, and transaction sharding. As outlined in its economics manuscript, the endeavor aims to enrich its ecosystem and solidify EGLD's status as a coveted store-of-value asset. Supported by 3,200 validator nodes dispersed across four shards—three for execution, capable of collectively managing up to 100,000 transactions per second, and one Metachain for coordination—MultiversX's adaptive state sharding structure seamlessly partitions state, transactions, and network. It promises scalability through shard augmentation based on throughput needs. Demonstrating its prowess, the network achieved a staggering 263,000 TPS in a diverse, global test environment featuring 1,500 nodes across 29 countries and 50 shards. Further promoting platform adoption, MultiversX incentivizes developers by offering a 30% royalty on smart contract fees.
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05/26/2023
