MultiversX (EGLD) has emerged as a compelling player in the blockchain space, offering a high-performance Layer-1 solution designed for scalability, security, and interoperability. Formerly known as Elrond, the rebranded MultiversX aims to power the next generation of decentralized applications (dApps), smart contracts, DeFi platforms, and NFT ecosystems. With its innovative architecture and growing adoption, EGLD continues to attract interest from developers and investors alike.
This comprehensive guide explores the core technology behind MultiversX, historical price performance, staking mechanics, and key factors influencing its market value — all optimized for readers seeking accurate, SEO-friendly insights into EGLD.
What Is MultiversX (EGLD)?
MultiversX is a scalable Layer-1 blockchain built to address the long-standing blockchain trilemma — the challenge of balancing decentralization, security, and scalability. By combining adaptive state sharding and a secure Proof-of-Stake (SPoS) consensus mechanism, MultiversX achieves high throughput with minimal latency and low transaction fees.
EGLD serves as the native cryptocurrency of the network. It is used for paying transaction fees, participating in governance, securing the network through staking, and enabling cross-chain interoperability.
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Core Technology Behind MultiversX
Adaptive State Sharding
One of MultiversX’s most significant innovations is its implementation of adaptive state sharding, which divides the network into smaller units called shards. This approach enables parallel processing of transactions and smart contracts across multiple shards simultaneously.
The system integrates three types of sharding:
- Network Sharding: Splits validator nodes into separate groups (shards), improving efficiency.
- Transaction Sharding: Routes transactions to specific shards for faster execution.
- State Sharding: Distributes data storage so each node only maintains the state of its shard.
This dynamic model allows the network to scale infinitely by automatically creating or decommissioning shards based on demand.
Secure Proof-of-Stake (SPoS)
Unlike energy-intensive Proof-of-Work systems, MultiversX uses Secure Proof-of-Stake (SPoS) — an enhanced version of PoS that ensures fast finality and resistance to attacks. SPoS introduces random validator selection using BLS threshold signatures, reducing centralization risks while maintaining high security.
Validators are rotated frequently across shards to prevent collusion, ensuring a fair and decentralized consensus process.
Meta Chain Architecture
At the heart of MultiversX lies the meta chain, a dedicated shard responsible for coordinating all other shards. It notarizes mini-blocks from individual shards, finalizing global state updates and enabling seamless cross-shard communication. This design ensures fast confirmation times and efficient inter-shard transactions.
With these technologies combined, MultiversX can support up to 15,000 transactions per second (TPS) with sub-second finality and negligible gas fees — making it highly competitive with other top-tier blockchains.
Historical Price Performance of EGLD
Understanding EGLD’s price history provides valuable context for investors assessing its potential.
2019: Launch and Initial Offering
EGLD debuted via a highly successful initial exchange offering (IEO) on Binance Launchpad in 2019. The token sale offered ERD (the original name) at $0.00065 each. Although the initial supply was set at 20 billion ERD tokens, a 1:1000 redenomination upon mainnet launch reduced the effective circulating supply to 25 million EGLD.
2020: Early Growth Momentum
By late 2020, EGLD began gaining traction. Prices rose from around $9 in December to a peak of $28 by month-end, reflecting increased market confidence in the project’s technical roadmap.
2021: All-Time High Achieved
The bull run of 2021 propelled EGLD to new heights. Fueled by broader crypto market momentum and strong ecosystem development, EGLD reached an all-time high of **$542.58 on November 23, 2021**. However, like many assets, it corrected in December, closing the year near $238.
2022: Market Correction
As the crypto market entered a bear phase, EGLD followed suit. Starting the year near $245, it declined sharply to approximately $33 by December — a drop of about 90%. Despite this, development activity remained strong.
2023: Consolidation and Resilience
In 2023, EGLD stabilized around $24–$30, showing resilience amid macroeconomic uncertainty. Continued upgrades and ecosystem expansion helped maintain developer engagement and long-term investor interest.
Founders and Team Behind MultiversX
MultiversX was co-founded by three Romanian entrepreneurs with deep expertise in technology and blockchain:
- Beniamin Mincu – A seasoned blockchain entrepreneur who previously contributed to the NEM project and invested early in Zilliqa, Tezos, Brave, and Binance.
- Lucian Mincu – A technology engineer specializing in cybersecurity, with experience at European tech firms.
- Lucian Todea – Former CEO of Soft32 and angel investor in fintech startups like TypingDNA.
Their combined vision focuses on building a scalable, user-centric blockchain infrastructure capable of supporting mass adoption.
How to Stake EGLD Tokens
Staking plays a vital role in securing the MultiversX network and rewarding participants. Here's how you can start earning passive income through EGLD staking:
- Set Up a Wallet: Use an EGLD-compatible wallet such as xPortal or Maiar.
- Acquire EGLD: Purchase EGLD through supported exchanges or on-ramp services.
- Delegate to a Stake Pool: Choose a reliable validator node and delegate your tokens.
- Earn Rewards: Receive regular staking rewards in EGLD, typically with annual yields ranging from 15% to 20%.
Staking not only generates returns but also contributes to network decentralization and security.
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Key Factors Influencing EGLD Price
Several variables impact the value of EGLD:
- Adoption Rate: Growth in dApp deployment, DeFi usage, and NFT projects on MultiversX.
- Network Upgrades: Technical improvements like enhanced sharding or interoperability features.
- Market Sentiment: Broader trends in the cryptocurrency market.
- Regulatory Environment: Global crypto regulations affecting institutional investment.
- Supply Dynamics: With a capped maximum supply, scarcity may influence long-term valuation.
As blockchain scalability becomes increasingly critical, platforms like MultiversX are well-positioned to benefit from rising demand for efficient infrastructure.
Frequently Asked Questions (FAQs)
Q: What is the maximum supply of EGLD?
A: The maximum supply of EGLD is capped at 31,415,926 tokens — a number inspired by the mathematical constant π (pi). This deliberate limit enhances scarcity over time.
Q: Can I stake EGLD without running a node?
A: Yes. Most users delegate their tokens to validator-operated stake pools, allowing them to earn rewards without technical setup.
Q: What makes MultiversX different from Ethereum or Solana?
A: MultiversX stands out with adaptive sharding and SPoS consensus, enabling higher scalability and lower costs compared to older architectures.
Q: Is EGLD used only for transactions?
A: No. Beyond transaction fees, EGLD supports staking, governance voting, dApp interactions, and cross-chain bridging.
Q: Where can I buy EGLD safely?
A: EGLD is listed on major exchanges including OKX, Binance, and Kraken. Always use reputable platforms with strong security measures.
Q: Does MultiversX support smart contracts?
A: Yes. The network supports full smart contract functionality using Rust-based WASM (WebAssembly), ideal for building complex dApps.
Final Thoughts
MultiversX represents a forward-thinking approach to blockchain design — one that prioritizes speed, efficiency, and real-world usability. As demand for scalable Layer-1 solutions grows, EGLD’s role in powering decentralized innovation becomes increasingly significant.
Whether you're an investor evaluating long-term potential or a developer exploring new ecosystems, MultiversX offers a robust foundation for participation in the evolving digital economy.
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