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What is MultiversX (EGLD)?

MultiversX basic info

Name:MultiversX

Ticker:

EGLDBuy now

Introduction:

What Is MultiversX

MultiversX ( previous name Elrond) is a protocol that seeks to redefine the boundaries of blockchain">blockchain technology by offering Internet-scale solutions. At the core of its design are two transformative features: Adaptive State Sharding and the Secure Proof of Stake (SPoS) mechanism. These unique attributes allow MultiversX to achieve unparalleled scalability, ensuring the platform can be efficiently operated on standard computers.

MultiversX was introduced in 2017 by Benjamin Mincu, Lucian Todea, and Lucian Mincu, all of whom were tech enthusiasts and entrepreneurs before MultiversX. The project was first announced in August 2019, and its mainnet went live in July 2020.

Resources

Official Whitepaper: https://files.multiversx.com/multiversx-whitepaper.pdf

Official Website: https://multiversx.com/

How Does MultiversX Work?

At the heart of MultiversX's efficiency is “Adaptive State Sharding” mechanism. Traditional blockchains have long struggled with scalability issues, often leading to congested networks and high transaction fees. Sharding divides the network into smaller, more manageable pieces called shards. Each shard can process its own transactions and smart contracts. By processing many transactions in parallel, MultiversX achieves a significant improvement in TPS compared to conventional blockchains.

In addition to sharding, MultiversX employs a consensus mechanism called “Secure Proof of Stake (SPoS)". This approach is a variation of the conventional Proof of Stake mechanism and was adopted to ensure a faster and more secure transaction validation process. With SPoS, validators are selected with a deterministic approach based on their availability and stake, ensuring a more fair and efficient selection process.

What Is The EGLD Token?

EGLD is MultiversX's native token, serving multiple crucial functions within its ecosystem. Its max supply is 31,415,926, among which 25,835,867 is in circulation.

EGLD can be used as a medium for paying network fees, including transaction and smart contract execution fees. Furthermore, EGLD is essential for staking, a process that helps secure the MultiversX network. By staking EGLD, participants can become validators in the network, helping to confirm transactions and produce new blocks. In return for these services, validators are rewarded with additional EGLD tokens. Additionally, the EGLD token can be used in various decentralized applications (dApps) built on the MultiversX platform, further integrating it into the broader digital economy.

MultiversX's Impact on Finance

By providing a platform that combines high scalability with robust security measures, MultiversX offers a promising foundation for DeFi projects that aim to serve a global audience. Moreover, its ability to process thousands of transactions per second at a fraction of the cost of traditional systems makes MultiversX an attractive choice for developers and businesses alike. MultiversX can play a pivotal role in bridging the gap between traditional banking systems and the emerging world of decentralized finance.

What Determines Wrapped MultiversX's Price

In the dynamic world of cryptocurrency, MultiversX (EGLD) has emerged as a formidable player, showcasing promising advancements in blockchain technology. As investors and enthusiasts keenly follow the MultiversX (EGLD) price today, several factors come into play that determine its market value. The EGLD token price is influenced by its innovative technology infrastructure, promising high scalability and energy efficiency, making it a lucrative option for potential investors eyeing the MultiversX price prediction for 2023.

The MultiversX (EGLD) live price is significantly influenced by its robust network architecture, which utilizes a sharded state architecture and a secure Proof of Stake consensus mechanism. This not only ensures faster and more reliable transactions but also positions it as a more efficient alternative to traditional blockchain solutions. The EGLD cryptocurrency value is further bolstered by its adaptive state sharding technique, promising a balanced, high-performance system, setting it apart from other blockchain platforms. Investors keen on MultiversX crypto investment should keep a close eye on the MultiversX (EGLD) price chart and market cap for a comprehensive MultiversX price analysis.

As the latest MultiversX (EGLD) news suggests, the platform has undergone a significant transformation, rebranding from Elrond to MultiversX, and shifting its focus towards the metaverse. This strategic move is expected to have a substantial impact on the EGLD token forecast, as it introduces new products designed to support the growth of the metaverse. The MultiversX trading volume is likely to see fluctuations, influenced by its competitive advantages including scalability, decentralization, security, and environmental sustainability. The platform's commitment to being a carbon-negative blockchain network is expected to resonate well with environmentally conscious investors, potentially driving up EGLD price fluctuations.

For those wondering how to buy MultiversX (EGLD), platforms like Bitget offers a seamless process, facilitating fast and secure transactions without the need for registration. Keeping a MultiversX (EGLD) wallet is essential for investors to manage their assets efficiently. Moreover, tracking the MultiversX (EGLD) price in USD on platforms like CoinMarketCap and CoinGecko can provide investors with real-time insights, aiding in making informed investment decisions. As the MultiversX community predictions suggest, the platform's innovative approach to solving the blockchain trilemma positions it as a potential leader in driving the next wave of blockchain adoption and innovation.

In conclusion, MultiversX (EGLD) stands as a promising investment avenue, with its innovative technology infrastructure and strategic focus on the metaverse promising potential high yields. As the platform continues to evolve, keeping abreast of the latest developments and market trends will be crucial for investors looking to capitalize on the opportunities presented by this dynamic crypto asset.

Current price:

$38.62More price details

All-time high:$542.58

All-time low:$6.54

EGLD supply and tokenomics

Circulating supply:27,588,812 EGLD

Total supply:27,647,558 EGLD

Max supply:31,415,926 EGLD

Market cap:$1.07B

Fully diluted market cap:$1.21B

Token allocation:

IEO Investors

25.00%

Private Investors

19.00%

Founders and Core Members

19.00%

Reserve Treasury

17.00%

Marketing Growth Pool

8.50%

Ecosystem Rewards

7.00%

Advisors

2.50%

Community Fund

2.00%

Tokenomics:

Uniqueness

MultiversX describes itself as a blockchain platform for the new internet economy, decentralized applications and enterprise use. Its main selling point is its high scalability, stating that it is the first blockchain network in which state, network and transaction sharding have all been implemented. According to its economics paper, it seeks to build up its ecosystem and establish EGLD as a store-of-value asset.

To achieve this goal, the network runs on 3,200 validator nodes split into four shards: three execution shards, capable of 5,400 transactions per second each, and one coordination shard, the "Metachain." MultiversX's adaptive state sharding architecture completely shards state, transactions and network. It can scale by adding an additional shard when the throughput demand is unmet. It was tested to run 263,000 TPS in a public environment with 1,500 nodes from 29 countries grouped in 50 shards.

In order to increase adoption, the project also supports developers building on the platform, allowing them to earn 30% of the smart contract fees as royalties.

The company maintains a supply of EGLD tokens to stake on the network during its first year, with validator nodes receiving a 36% annual percentage rate.

Token utility

The use cases intended for $EGLD include but are not limited to:

Network transactions: $EGLD is paid by users for transaction fees for interacting with dApps, smart contracts, web3 payments, and NFTs.
Staking: Users can run validator nodes and stake $EGLD to secure the network. Alternatively, users can also their $EGLD to non-custodial staking services by independent staking service providers.
Governance: At a later stage, $ELGD token holders can participate in on-chain governance and vote on various improvement proposals.

Links

Website:https://multiversx.com/

Whitepaper:https://files.multiversx.com/multiversx-whitepaper.pdf

X:https://twitter.com/MultiversX

GitHub:https://github.com/multiversx

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What is the development prospect and future value of EGLD?

The market value of EGLD currently stands at $1.07B, and its market ranking is #91. The value of EGLD is widely recognized by the market. When the bull market comes, the market value of EGLD will likely continue to increase.

Moreover, if EGLD can play a greater role in practical applications, such as MultiversX builders fully leveraging the potential of EGLD, partnering with more businesses, and increasing its user base, the long-term value of EGLD will be significantly enhanced.

What will the price of EGLD be in 2025?

Based on EGLD's historical price performance prediction model, the price of EGLD is projected to reach $41.42 in 2025.

What will the price of EGLD be in 2030?

In 2030, the EGLD price is expected to change by +5.00%. By the end of 2030, the EGLD price is projected to reach $89.43, with a cumulative ROI of +197.76%.

Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of EGLD and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

EGLD price EGLD price prediction EGLD news

Is EGLD worth investing or holding? How to buy EGLD from a crypto exchange?

If you want to buy EGLD, the following information may be helpful for your investment decisions:

In the last seven days, the price of EGLD has risen by 24.11%, leading to positive returns for most EGLD investors. The market is currently optimistic about the price trend of EGLD.

It is important to note that the current price of EGLD has retreated by -92.88% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.

Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.

To decide whether EGLD is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.

Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in EGLD or any cryptocurrency comes with certain risks and uncertainties.

Regardless of your outlook on the development prospects and future trends of EGLD, if you want to buy or sell EGLD, you can consider Bitget for your trading needs. The best place to buy EGLD is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.

Investing in MultiversX has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy MultiversX. Here's a step-by-step guide on how to buy MultiversX on Bitget.

Buy EGLD now Coin buying guide

How to get MultiversX through other methods？

Using cash to buy MultiversX is not the only way to obtain MultiversX. If you have the time to spare, you can get MultiversX for free.

Learn how to earn MultiversX for free through the Learn2Earn promotion.

Earn free MultiversX by inviting friends to join Bitget's Assist2Earn promotion.

Receive free MultiversX airdrops by joining ongoing challenges and promotions.

All crypto airdrops and rewards can be converted to MultiversX through Bitget Convert, Bitget Swap, or spot trading.

What is MultiversX used for and how to use MultiversX?

The use case of MultiversX may expand as the crypto market and the project itself develop. Currently, you can use EGLD to achieve the following goals:

Arbitrage by trading EGLD: Since EGLD is a frequently traded cryptocurrency, the price of EGLD is always fluctuating. Earn more EGLD by buying low and selling high on the exchange. Bitget spot market provides a variety of EGLD trading pairs to fully meet your needs.

Earn by staking EGLD: You can also generate income through financial management methods such as staking EGLD or lending EGLD. Bitget Earn offers a variety of financial products designed to help you earn more income from your EGLD.

Send or pay EGLD: If you want to give EGLD to your friends, a charity, or a fundraiser, or you want to pay someone with EGLD, you can quickly and easily send EGLD to the recipient through their payment address.

You can also go to the official website of the MultiversX project to learn more about the use cases of EGLD. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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