Get to know the MultiverseX Protocol, Blockchain that Offers Transaction Speed

MultiversX is a blockchain protocol that seeks to offer very fast transaction speeds by using sharding. The project describes itself as a technology ecosystem for the new internet, which includes fintech, decentralized finance and the Internet of Things.

According to Coinmarketcap, MultiversX rewards active communities and participants with the EGLD Coin crypto token.

EGLD Coin or Electronic Gold, is the original crypto token belonging to the Elrond blockchain. It acts as a currency store of value to pay for network usage.

Coins also serve as a medium of exchange between platform users and validators. Users pay transaction fees on EGLD Coin and validators provide the service.

Founder of MultiversX

MultiversX was co-founded in late 2017 by brothers Beniamin and Lucian Mincu with Lucian Todea as a solution to the blockchain scalability problem, which they consider to be the most pressing problem facing the industry.

Prior to MultiversX, Beniamin and Lucian Mincu founded MetaChain Capital, a digital asset investment fund, with Beniamin Mincu serving as CEO and Lucian Mincu as chief technology officer. The two also founded ICO Market Data, an aggregator of information around initial coin offerings.

MultiversX uniqueness

MultiversX describes itself as a blockchain platform for the new internet economy, decentralized applications, and enterprise uses. Its main selling point is its high scalability, stating it is the first blockchain network where state, network, and transaction sharding have all been implemented.

According to his economics paper, he seeks to build his ecosystem and establish EGLD as a store of value asset.