What is MultiversX (EGLD)?

Quick Facts

  • Native token: EGLD (Electronic Gold)
  • Formerly known as: Elrond Network
  • Rebranded: November 2022 to MultiversX
  • Consensus: Secure Proof of Stake (SPoS)
  • Key technology: Adaptive state sharding
  • Speed: Over 15,000 transactions per second
  • Finality: ~6 seconds with fees under $0.001

Introduction

MultiversX is a Layer-1 blockchain built for high performance and broad scalability. It powers decentralized applications, DeFi protocols, NFTs, and metaverse experiences through its unique combination of adaptive sharding and Secure Proof of Stake consensus.

At the center of this ecosystem is EGLD, the native token that pays for gas fees, secures the network through staking, and enables on-chain governance.

History & Background

The project was founded in 2017 by Beniamin Mincu, Lucian Mincu, and Lucian Todea under the name Elrond. The mainnet launched in 2020, at which point the token was redenominated from ERD to EGLD to represent a new vision of digital value.

In November 2022, Elrond rebranded to MultiversX, signaling a broader ambition to build Web3 and metaverse infrastructure. The rebrand came alongside the introduction of three new product lines: xFabric, xPortal, and xWorlds.

How MultiversX Works

MultiversX solves the blockchain trilemma through two core innovations:

  • Adaptive state sharding splits the network into parallel shards that process transactions simultaneously. Shards can dynamically merge or split based on network demand, maximizing throughput without sacrificing security.
  • Secure Proof of Stake (SPoS) is an advanced consensus mechanism that streamlines validator selection, reduces latency, and maintains strong security guarantees.

Smart contracts on MultiversX run on a WebAssembly-based virtual machine that supports multiple languages, including Rust, C, and C++, giving developers significant flexibility.

Tokenomics

EGLD serves three core functions: paying transaction fees, staking to secure the network, and governance voting on protocol upgrades.

The token follows a deflationary economic model with transaction fees being burned to reduce supply over time. Updated tokenomics introduce adaptive burning and KPI-gated emissions, tying network usage and builder activity directly to EGLD value. Stakers earn rewards for helping validate the network.

Circulating supply ? 30.17 million EGLD
Total supply ? 30.17 million EGLD
Max supply ? 31.42 million EGLD
Updated 15h ago

Ecosystem & Use Cases

MultiversX supports a growing ecosystem spanning DeFi, NFTs, gaming, and real-world asset tokenization. Key products include:

  • xPortal — a super-app wallet and financial hub for users
  • xFabric — a sovereign blockchain module for developers and institutions
  • xWorlds — metaverse infrastructure built on the MultiversX base layer

The platform has also attracted enterprise interest, including collaboration with government entities on digital identity and document verification solutions.

Team, Governance & Community

The project was co-founded by Beniamin Mincu (CEO), who leads the strategic direction of MultiversX. The team is headquartered in Romania and has grown significantly since the Elrond days.

Governance is on-chain, allowing EGLD holders to vote on network upgrades and protocol changes directly. The community is active across Discord, Telegram, Reddit, and Twitter/X.

Advantages

  • High throughput: Over 15,000 TPS makes the network suitable for large-scale applications
  • Low fees: Transaction costs under $0.001 enable micro-transactions and broad access
  • Developer-friendly: WebAssembly VM supports popular languages like Rust
  • Deflationary design: Fee burning creates long-term scarcity pressure on EGLD
  • Interoperability: Cross-shard smart contracts allow complex DeFi composability

Risks & Challenges

  • Competitive landscape: MultiversX competes with well-funded Layer-1 networks like Ethereum, Solana, and Near
  • Tokenomics debate: Community disagreements over inflation and burn mechanics could affect trust
  • Adoption curve: Enterprise and developer adoption takes time to translate into sustained network activity
  • Centralization concerns: Like many PoS chains, validator concentration can be a risk vector

Long-Term Vision

MultiversX aims to become a foundational layer for the next generation of the internet economy. Its roadmap combines high-performance infrastructure with metaverse products and real-world asset integration.

By connecting xFabric, xPortal, and xWorlds into a unified ecosystem, MultiversX is positioning EGLD as the value layer for a decentralized digital multiverse — one designed to scale to billions of users.

Frequently Asked Questions

MultiversX is a Layer-1 blockchain formerly known as Elrond, designed for high-speed, low-cost decentralized applications. It uses adaptive state sharding and Secure Proof of Stake to achieve over 15,000 transactions per second.

EGLD is the native token of MultiversX, used to pay transaction fees, stake for network security, and participate in on-chain governance. Stakers earn rewards in EGLD for helping validate the network.

MultiversX is the rebranded name of the Elrond Network, announced in November 2022. The rebrand reflected an expanded vision focused on Web3, metaverse, and broader digital infrastructure products.

MultiversX combines adaptive state sharding with its Secure Proof of Stake consensus to achieve high throughput without sacrificing security. Its WebAssembly VM also supports multiple programming languages for smart contract development.

Adaptive state sharding splits the network into parallel shards that each process transactions simultaneously. Shards can dynamically split or merge based on network load, which keeps the system efficient and scalable.

Yes, EGLD follows a deflationary economic model where a portion of transaction fees is burned to reduce supply over time. Updated tokenomics also introduce adaptive burning tied to network activity.

The main products are xPortal (a user-facing super-app wallet), xFabric (a sovereign blockchain module for developers and enterprises), and xWorlds (metaverse infrastructure). Together they form the broader MultiversX digital economy.

MultiversX was co-founded by Beniamin Mincu, Lucian Mincu, and Lucian Todea, who originally launched the project as Elrond in 2017. Beniamin Mincu serves as CEO and leads the project's strategic direction.