MultiversX (originally - Elrond Network) is a blockchain technology designed to offer high throughput and scalability as well as fast transaction speeds, while maintaining high levels of security.

It is designed to facilitate efficient decentralized apps (DApps), and offer a pleasant experience for developers as well as users.

A sharding architectural design

MultiversX uses a sharding technology called Adaptive State Shading. This architecture divides the network in smaller shards that are capable of processing smart contracts and transactions independently. This design is intended to increase the network’s throughput and scaleability.

It uses a Proof-ofStake consensus system that combines PoS's benefits with additional security measures. Validators are selected randomly to validate and propose blocks. They are held accountable by a system called "Stake and rating."

Elrond Virtual Machine

Elrond's own virtual machine, the Elrond Machine (EVM), is compatible with Ethereum Virtual Machine. Developers can port existing Ethereum smart contracts over to the Elrond Platform.

EGLD token

EGLD, the native utility token for the MultiversX Network, is used to stake and pay transaction fees. It can be used to stake, pay transaction fees, participate in governance decisions and take part in economic activities.

Participants can earn additional EGLD tokens by securing the Elrond Network with EGLD Tokens.

Disclaimer. This article should only be used for informational purposes and not as a recommendation by CryptoGuestPosts. The author has collected the data and it is not sponsored by a company or token developer. These are not recommendations to buy or trade cryptocurrency. Before investing in funds, readers should research the market.