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MultiversX, formerly known as Elrond, is a scalable, secure, and fast blockchain platform designed to provide a high-bandwidth infrastructure for internet-scale decentralised applications (dApps) and enterprise use cases. Launched in 2020 by Beniamin Mincu and his team, MultiversX employs a novel Adaptive State Sharding mechanism and a Secure Proof-of-Stake consensus to achieve remarkable performance and a high level of scalability. The platform can process over 15,000 transactions per second with very low latency and negligible costs, making it suitable for a wide range of decentralised applications. Its native token, EGLD, is used for network governance, staking, and transaction fees, fostering a decentralised and self-sustaining ecosystem. MultiversX aims to create a robust financial and technological environment where developers and businesses can thrive by leveraging its highly efficient and accessible blockchain infrastructure.
