Choosing a responsible and potentially rewarding investment in the crypto space can be challenging. With a focus on financial safety and technological promise, #MultiversX (formerly Elrond) and its native token eGold ($EGLD ) stand out. This high-throughput blockchain aims to support the burgeoning metaverse with unparalleled transaction speeds and innovative features.
Inspiration for Picking MultiversX ($EGLD)
MultiversX distinguishes itself with its technological advancements and robust ecosystem. In its early years, #DaoLabs played a crucial role in its development. With an aim to deliver 1000x throughput compared to existing blockchains, MultiversX positions itself as a key player in managing massive user adoption, essential for the metaverse and beyond. Elrond (now MultiversX) grew significantly through the input of #SocialMining , gaining substantial support from its community.
Origins and Product Technology
MultiversX was founded to address the scalability issues plaguing many blockchains. The network's innovative technologies include:
Adaptive State Sharding: This allows real-time adjustment of the network capacity, providing a flexible and efficient blockchain infrastructure.Secure Proof of Stake (SPoS): A consensus mechanism that enhances security and efficiency by rotating validators and maintaining decentralization.Elrond VM (EVM): A dedicated smart contract execution engine that supports multiple programming languages, increasing accessibility for developers.
These features collectively enable MultiversX to offer high throughput, low latency, and minimal fees, making it a versatile platform for various applications.
Background: Story and Team
MultiversX was founded by Beniamin Mincu, Lucian Mincu, and Lucian Todea. The team brings together experts in blockchain, security, and business. Their vision is to create a high-speed, secure blockchain that can handle real-world applications and user demand. The transition from Elrond to MultiversX reflects their broader ambition to support the metaverse and advanced digital ecosystems.
Purpose of the Coin's Use
$EGLD serves multiple critical functions within the MultiversX ecosystem:
Staking: Users can stake $EGLD to support network security and earn rewards.Governance: Token holders can participate in the governance process, influencing the future direction of the network.Transactions: $EGLD is used to pay for transactions and smart contract executions.Validator Rewards: Validators receive $EGLD for maintaining the network.
Relevance
Market Cap and Valuation:
Market Cap: $781,658,617Fully Diluted Valuation (FDV): $781,806,977
Circulating Supply:
27 Million EGLD tokens
Price Performance:
All-Time High: $545.64 (November 23, 2021)All-Time Low: $6.51 (October 7, 2020)Recent Price: Significantly higher than the all-time low, indicating substantial growth
Recent Listings:
Recently listed on Bit2Me, the largest exchange in Latin America
Recent Updates:
Sharding technology update to enhance scalability and performance$110K trading competition on BinanceTR, highlighting community support initiatives
Conclusion
MultiversX and its native token $EGLD present a compelling investment opportunity. With advanced technology, a dedicated team, and strong market fit, MultiversX is well-equipped to support the future of digital ecosystems and the metaverse. As always, potential investors should conduct their due diligence and consider the risks involved.