Convert EGLD to TRY

MultiversX (EGLD) is a highly scalable, secure, and interoperable blockchain platform designed to power the next generation of decentralized applications and the new internet economy.

Key takeaways:

• High-Throughput Architecture: MultiversX employs Adaptive State Sharding and Secure Proof of Stake (SPoS) to achieve over 15,000 transactions per second with minimal latency and low fees.
• Native Token Utility: The EGLD token is central to the network's operations, used for staking, governance, paying transaction fees, and rewarding validators.
• Ecosystem Focus: The platform is built to support a wide range of dApps, including DeFi, NFTs, and the Metaverse, with a strong emphasis on developer tools and interoperability.
• Unique Features: It offers native support for smart contracts, a dedicated framework for building Metaverse experiences (xPortal, xWorlds), and a novel approach to cross-chain communication.
• Security and Decentralization: The network's consensus mechanism is designed to be energy-efficient while maintaining a high degree of security and decentralization through its validator set.

What is MultiversX? Key Specifications & Tokenomics

MultiversX, formerly known as Elrond, is a blockchain protocol that aims to provide an infrastructure for a highly scalable, fast, and secure global digital economy. Its core innovation lies in its sharding architecture, which allows the network to process transactions in parallel, significantly boosting its capacity.

Who created MultiversX(EGLD)?

MultiversX was co-founded in 2017 by three Romanian entrepreneurs and computer scientists: Beniamin Mincu, Lucian Mincu, and Lucian Todea. The project was born out of a vision to solve the blockchain trilemma—achieving scalability, security, and decentralization simultaneously. Beniamin Mincu, the CEO, has a background in blockchain investments and entrepreneurship, having been involved with projects like NEM and ICO Market Data. Lucian Mincu, the CIO, brought extensive experience in IT infrastructure and systems architecture. The team conducted a private funding round in 2019 and a public Initial Exchange Offering (IEO) on Binance in July 2019, successfully raising capital to develop the network. The project rebranded from Elrond to MultiversX in late 2022 to reflect its expanded vision beyond a single blockchain into a network of interoperable metaverses.

How does MultiversX(EGLD) work?

MultiversX operates on a unique technological stack designed for extreme performance. Its core mechanism is Adaptive State Sharding, which divides the network into smaller, parallel-processing partitions called shards. This includes transaction, data, and state sharding, allowing the network to scale nearly linearly as more nodes join.

• Secure Proof of Stake (SPoS): The network uses a custom Proof of Stake consensus within each shard. Validators are randomly and securely selected to propose and validate blocks. The selection process uses a randomness source based on the previous block's signature and the validator's rating score, which promotes honesty and reliability.
• The Metachain: A special shard called the Metachain coordinates the entire network. It handles cross-shard transactions, consensus among shard leaders, and hosts the network's governance smart contracts.
• Execution: Smart contracts run on the Arwen Virtual Machine, which is WebAssembly (WASM)-compatible. This allows developers to write contracts in familiar languages like Rust, C++, and TypeScript. Transactions are processed within shards, and cross-shard communication is handled seamlessly by the Metachain, ensuring atomic composability across the entire network.

What makes MultiversX(EGLD) unique and valuable?

MultiversX differentiates itself through its foundational technology and holistic ecosystem approach. Its Adaptive State Sharding is a key innovation, enabling it to process thousands of transactions per second with finality in just 6 seconds, a feat that addresses the scalability issues plaguing earlier blockchains.

• Extreme Efficiency: The combination of sharding and SPoS makes the network incredibly energy-efficient and cost-effective, with transaction fees costing a fraction of a cent.
• Developer-Friendly Environment: With WASM compatibility and robust tooling (xPortal SDK, xLaunchpad, xFabric), it lowers the barrier to entry for developers building high-performance dApps.
• Interoperability Focus: MultiversX is built with cross-chain communication in mind. Its xPortal SuperApp (a non-custodial wallet and gateway) and native bridges facilitate asset and data transfer between MultiversX and other chains.
• Tokenomics & Staking: The EGLD token has a clear, deflationary model with a capped supply. Over 80% of the circulating supply is typically staked, securing the network and aligning long-term incentives for validators and delegators.

What is MultiversX (EGLD) used for?

The EGLD token is the lifeblood of the MultiversX ecosystem, with multiple critical utilities:

• Network Fees: All transaction fees, smart contract deployments, and interactions on the network are paid in EGLD.
• Staking and Security: Users can stake EGLD to become validators or delegate their tokens to existing validators. In return, they earn staking rewards for helping secure the network.
• Governance: EGLD stakers can participate in the governance of the network, voting on key protocol upgrades and parameter changes.
• Medium of Exchange: Within the MultiversX ecosystem, EGLD is used as a primary currency for trading NFTs, purchasing virtual land in metaverse projects, and interacting with DeFi applications like decentralized exchanges and lending protocols.
• Rewards: Developers building on MultiversX can receive grants and funding denominated in EGLD, and users are often rewarded with EGLD in various ecosystem incentives and liquidity programs.

How Is the MultiversX (EGLD) ecosystem developing?

The MultiversX ecosystem is rapidly expanding beyond its core technology into a broad web3 environment. Development is heavily focused on user adoption and real-world utility.

• xPortal SuperApp: This all-in-one mobile app serves as a non-custodial wallet, fiat on-ramp, social payments hub, and gateway to the MultiversX metaverse, driving mainstream accessibility.
• DeFi and NFTs: A growing suite of decentralized applications includes DEXs (xExchange), lending platforms, and a vibrant NFT marketplace with major brands and artists launching collections.
• Metaverse and Gaming: The "xWorlds" framework supports the creation of immersive 3D experiences and games. Projects are building virtual worlds, play-to-earn games, and digital fashion hubs on the network.
• Enterprise and DePIN: MultiversX is actively pursuing partnerships for decentralized physical infrastructure networks (DePIN) and enterprise solutions, leveraging its high throughput for IoT and data oracles.
• Interoperability: Continuous development on bridges and cross-chain communication protocols aims to position MultiversX as a connected hub within the broader blockchain landscape.

How to mine MultiversX(EGLD)?

MultiversX does not use traditional Proof of Work (mining). Instead, new EGLD tokens are minted as staking rewards in its Secure Proof of Stake system. To "mine" or earn EGLD, you participate in network validation.

1. Run a Validator Node: This requires a significant technical commitment and a stake of 2500 EGLD. You need to maintain server infrastructure with high uptime to propose and validate blocks.
2. Delegate Your EGLD: This is the most common method for most users. You can delegate (stake) your EGLD to an existing validator node through the official xPortal app or web wallet. You choose a validator, and your staked tokens contribute to their stake, earning you a proportional share of the rewards. This process does not require locking your funds for a fixed period; unbonding takes about 10 days.

How to keep your EGLD Coin safe?

Securing your EGLD involves standard crypto security practices tailored to the MultiversX ecosystem.

• Use Official Wallets: The xPortal App (mobile) and the MultiversX Web Wallet are the official, non-custodial options. They provide direct interaction with dApps on the network.
• Secure Your Seed Phrase: When creating a wallet, you will receive a 24-word secret recovery phrase. Write it down on paper and store it in multiple secure, offline locations. Never digitize it or share it with anyone.
• Hardware Wallet Integration: For large holdings, consider using a hardware wallet like Ledger. MultiversX has native integration with Ledger devices, allowing you to securely sign transactions while keeping your keys offline.
• Beware of Scams: Be cautious of fake websites, phishing links sent via email or social media, and unsolicited offers for "support." Always double-check URLs and only use official channels.
• Delegate to Reputable Validators: If staking, research validators' history, fee structure, and reliability on the staking dashboard to minimize slashing risks.

How to buy EGLD Coin?

1. Register a BTCC Account: Sign up with your email or phone number and complete the KYC verification to unlock more platform features and benefits. (How to buy USDT on BTCC)
2. Deposit Funds: Deposit fiat currency (via bank transfer, card, or third-party payment) or transfer USDT from an external wallet into your BTCC account. (How to buy USDT on BTCC)
3. Start Trading: Go to the trading page and search for the spot trading pair EGLD/USDT or the futures contract EGLDUSDT. (Trade EGLDUSDT Futures)
4. Place an Order: Enter the amount of EGLD you wish to buy and submit your order. For futures trading, you can also choose to go short (sell) and adjust leverage according to your strategy.
5. Confirm Your Purchase: For spot purchases, check your account assets to confirm the EGLD has arrived. For futures, check your open positions on the trading page.