MultiversX is a high-performance, scalable blockchain platform designed to support decentralized applications (dApps), metaverses, and Web3 services. Formerly known as Elrond, it rebranded to MultiversX in 2022 to reflect its expanding ecosystem and focus on innovation.
A key feature of MultiversX is adaptive sharding, which dynamically splits the network into shards to process up to 263,000 transactions per second with low latency. This provides high throughput and network resilience. The platform uses Secure Proof of Stake (SPoS), an energy-efficient consensus mechanism that ensures security and decentralization.
The native token EGLD is used for transaction fees, staking, and governance participation. MultiversX offers several ecosystem tools, including xPortal, a universal app for managing cryptocurrencies, NFTs, and digital identities; xExchange, a decentralized exchange for asset swaps; and xLaunchpad, a platform for launching Web3 projects and tokens.
The platform is also actively developing infrastructure for metaverses through xWorlds and provides developer tools like xFabric, which enables the creation of blockchain applications without coding.
With over 3,200 validators and more than 434 million transactions processed, MultiversX aims to be the foundation for the next generation of decentralized applications and digital services. It combines cutting-edge technology with an expanding ecosystem to empower developers and users in the evolving Web3 landscape.
