MultiversX

MultiversX is a layer-one blockchain, previously known as Elrond, that targets high transaction capacity. EGLD is the network's own coin; transaction fees and smart contract execution costs are paid with this asset. The project is among the blockchains that approach the scalability problem by splitting the network into parts that run in parallel.

The network distributes validators, transactions and account state across shards using a method called adaptive state sharding; as load changes, the shard structure can be reorganized. Consensus is based on a proof-of-stake model called Secure Proof of Stake; validators who stake EGLD and users who delegate to them receive rewards. On the network, tokens can be issued directly at the protocol level with the ESDT standard without requiring a separate smart contract. The ecosystem's consumer-facing app is the xPortal wallet.

The EGLD price may be influenced by app and user activity on the network, the staking ratio and updates to tokenomics, competition with rival high-capacity chains and general market conditions. The MultiversX page on Lzzo.com converts the price formed in the EGLD/USDT pair on Binance into dollars at Coinbase Exchange's USDT/USD rate; the chart reflects this series.