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MultiversX (EGLD) is a highly scalable, sharded blockchain platform designed to support the next generation of decentralised applications and enterprise use cases.

Key takeaways

• MultiversX is a high-performance Layer 1 blockchain that utilises Adaptive State Sharding and a Secure Proof-of-Stake (SPoS) consensus to achieve significant scalability.
• The native utility token, EGLD, is used for staking, governance, paying for network fees (gas), and rewarding validators.
• The platform is designed to be developer-friendly, supporting smart contracts written in Rust, C/C++, and TypeScript, compiled to WebAssembly (Wasm).
• The ecosystem is rapidly expanding, with a strong focus on DeFi, NFTs, the metaverse, and real-world asset (RWA) tokenisation.
• EGLD can be securely traded and staked on major exchanges like BTCC.

What is MultiversX? Key Specifications & Tokenomics

MultiversX, formerly known as Elrond, is a blockchain protocol that aims to solve the scalability trilemma by providing high throughput, security, and decentralisation through its unique sharding architecture.

Who created MultiversX (EGLD)?

MultiversX was co-founded by a team of Romanian entrepreneurs and technologists with strong backgrounds in blockchain, software engineering, and business. The key figures are:

• Beniamin Mincu: The CEO and a driving force behind the project, Mincu is a serial entrepreneur with prior experience in the crypto space, including roles at NEM and Metachain Capital (now Binance Labs).
• Lucian Todea: A co-founder and COO, Todea brings extensive business and operational experience from the tech startup world.
• Lucian Mincu: A co-founder and CIO, he is responsible for the project's infrastructure and technological development.

The project was officially launched in 2019 following a private funding round and a public token sale. The team's vision was to build a blockchain that could scale efficiently to meet global demand, leading to the development of its novel sharding technology.

How does MultiversX (EGLD) work?

MultiversX achieves its high performance through a combination of two core innovations: Adaptive State Sharding and Secure Proof-of-Stake (SPoS).

• Adaptive State Sharding: This is the cornerstone of MultiversX's scalability. The network dynamically splits into multiple parallel chains called shards. Each shard processes its own transactions and smart contracts independently, dramatically increasing total throughput. The network can adapt the number of shards based on demand, merging or splitting them as needed.
• Secure Proof-of-Stake (SPoS): This consensus mechanism selects validators for each shard in a random, fair, and secure manner. Validators stake EGLD tokens to participate in securing the network. The selection algorithm uses the staked amount and a rating score (based on past performance) to choose validators, promoting both security and efficiency.
• WebAssembly (Wasm) VM: Smart contracts on MultiversX are executed in a Wasm virtual machine. This allows developers to write contracts in familiar, standard programming languages like Rust, C++, and TypeScript, lowering the barrier to entry compared to learning new domain-specific languages.

What makes MultiversX (EGLD) unique and valuable?

MultiversX differentiates itself through its architectural design and focus on practical, high-volume use cases.

• Proven Sharding Implementation: While many blockchains promise sharding, MultiversX has a live, working implementation of state sharding, which is considered one of the most complex forms. This gives it a tangible scalability advantage.
• Extremely Low Transaction Costs: Due to its high throughput, the cost for transactions and smart contract execution on MultiversX is a fraction of a cent, making it economically viable for micro-transactions and mass-market dApps.
• Developer-Friendly Environment: The support for standard programming languages and robust tooling (like the MultiversX IDE) makes it easier for traditional developers to build on the blockchain, fostering ecosystem growth.
• Strong Focus on UX: The project places a high priority on user experience, evident in its native wallet (xPortal App), which integrates social features, secure messaging, and easy access to dApps and NFTs.

What is MultiversX (EGLD) used for?

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

• Network Fees (Gas): All transactions, smart contract deployments, and interactions on the network require EGLD to pay for computational resources.
• Staking and Securing the Network: Users can stake their EGLD to become validators or delegate their tokens to existing staking providers to earn rewards and help secure the network.
• Governance: EGLD stakers have voting rights on key protocol upgrades and ecosystem treasury decisions, shaping the future of the network.
• Collateral and Medium of Exchange: Within the MultiversX DeFi ecosystem, EGLD is used as a primary collateral asset and a trading pair for various tokens.

How Is the MultiversX (EGLD) Ecosystem Developing?

The MultiversX ecosystem has seen substantial growth, particularly in key verticals:

• DeFi: A thriving DeFi landscape includes decentralised exchanges (DEXs) like xExchange (formerly Maiar DEX), lending protocols, and yield farming opportunities, all built natively on the chain.
• NFTs and Metaverse: MultiversX has a strong NFT community with several marketplaces. It is also the home of major metaverse projects, leveraging its scalability for complex virtual worlds.
• Enterprise and RWA: The platform is actively pursuing enterprise adoption, with initiatives focused on tokenising real-world assets (RWA), digital identity, and supply chain solutions.
• xPortal Super App: The xPortal app aims to be a gateway for the new internet economy, integrating payments, social features, and dApp access for millions of users.

How to mine MultiversX (EGLD)?

MultiversX does not use traditional mining. It operates on a Proof-of-Stake model. Therefore, new EGLD tokens are not "mined" but are instead minted as rewards for network validators and stakers. The only way to earn newly created EGLD is by participating in network validation:

• Run a Validator Node: This requires a significant technical setup and a stake of 2500 EGLD (subject to change by governance). Validators run the network software and process transactions to earn rewards.
• Delegate/Stake: Most users participate by delegating their EGLD to a trusted staking provider (validator) through the official wallet or exchange. This requires no technical knowledge, and the user earns a portion of the validator's rewards.

How to keep your EGLD safe?

Securing your EGLD is paramount. Here are the best practices:

• Use Official Wallets: The xPortal mobile app (non-custodial) and the MultiversX Web Wallet are the most secure and feature-complete options for storing and staking EGLD.
• Hardware Wallets: For large, long-term holdings, consider using a hardware wallet like Ledger, which supports EGLD. This keeps your private keys completely offline.
• Secure Your Seed Phrase: When you create a wallet, you will receive a 12 or 24-word recovery phrase. Write it down on paper and store it in multiple secure, physical locations. Never store it digitally or share it with anyone.
• Beware of Scams: Be vigilant against phishing websites, fake support agents, and unsolicited offers. Always double-check URLs and only use official links from the MultiversX website.

How to buy EGLD Coin?

EGLD is a popular cryptocurrency listed on many exchanges. However, we recommend using a major platform like BTCC for higher liquidity and robust customer support.

1. Register a BTCC account: Sign up using your email or mobile number and complete the KYC verification to unlock more platform features and benefits.
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. (Learn more in the USDT buying guide).
3. Start trading: Navigate to the trading page and search for the spot trading pair EGLD/USDT, or the perpetual contract EGLDUSDT.
4. Place your order: Enter the amount of EGLD you wish to purchase and submit your order. For contract 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 been credited. For futures, check your open positions on the trading page.