MultiversX was co-founded in late 2017 by brothers Beniamin and Lucian Mincu, along with Lucian Todea, as a solution to the issue of blockchain scalability, which they considered the most urgent challenge in the industry. Before establishing MultiversX, Beniamin and Lucian Mincu co-founded MetaChain Capital, a digital asset investment fund, with Beniamin serving as CEO and Lucian as Chief Technology Officer. They also co-founded ICO Market Data, an information aggregator for initial coin offerings. Beniamin Mincu was responsible for product development, marketing, and community management for the blockchain platform NEM from 2014 to 2015 and was an early investor in projects such as Zilliqa (ZIL), Tezos (XTZ), Brave, and Binance. Lucian Mincu has additional expertise as an information technology engineer and security specialist, having worked with companies such as Uhrenwerk 24, Cetto, and Liebl Systems. Lucian Todea is a seasoned tech entrepreneur who previously founded and served as CEO of Soft32, a software review and download site, and was a partner at mobilPay, a mobile payments application. He is also an angel investor, with investments in the biometrics tech company TypingDNA and the accounting platform SmartBill. For more information, you can check this on Eulerpool.

MultiversX positions itself as a blockchain platform designed for the modern internet economy, decentralized applications, and enterprise use cases. Its primary advantage lies in its high scalability, announcing itself as the first blockchain network to implement sharding across state, network, and transactions. As outlined in its economic paper, the platform aims to develop its ecosystem and establish EGLD as a store-of-value asset. To realize this objective, MultiversX operates on 3,200 validator nodes divided among four shards: three execution shards, collectively handling up to 100,000 transactions per second, and a coordination shard known as the "Metachain." The platform's adaptive state sharding architecture fully shards the state, transactions, and network, allowing it to scale seamlessly by incorporating additional shards when demand for throughput rises. In a public testing environment, it was capable of achieving a throughput of 263,000 transactions per second with 1,500 nodes distributed across 29 countries, organized into 50 shards. To boost adoption, the blockchain encourages developers to build on the platform by enabling them to earn 30% of the smart contract fees as royalties.

According to the MultiversX cryptocurrency team, the project employs three types of parallelization: state, transactions, and network, utilizing parallel processing to expedite transaction times and increase throughput. MultiversX leverages Adaptive State Sharding to achieve scalability by sharing infrastructure, thereby supporting a growing number of applications and transactions on the ledger. This system is a variant of the traditional Proof of Stake (PoS) protocol to ensure connectivity and operational integrity across all network sections that are separated during sharding. As a result, the integrated environment facilitates the development of decentralized applications (dApps), which replicate products and services. MultiversX uniquely synthesizes three sharding techniques to create its proprietary adaptive sharding method. The network is divided into four shards: three execution shards dedicated to processing transactions, collectively validating 30,000 transactions per second, and a fourth shard, the Metachain, which coordinates and finalizes transactions. The sharding types employed include: State sharding, where the network's history or state is distributed across different network sections, or shards. Each segment maintains its own ledger, with nodes storing the state of each segment; Transaction sharding, where transactions are mapped to and processed within segments, allowing parallel processing of transactions with nodes capturing the network's overall state; Network sharding, where nodes are organized into segments for processing, contributing to optimized communications through network slicing.

The economic model of MultiversX features a capped supply that initially comprises 20,000,000 EGLD, with new tokens generated to reward network validators. The total supply is capped at 31,415,926 EGLD, a figure that will decrease as additional transactions are executed. The native token of MultiversX was initially offered in a private sale, where 19% of the initial supply was sold, with 7.5% immediately available at the token generation event and an additional 15.41% released quarterly. Furthermore, MultiversX conducted an initial exchange offering on Binance, selling 25% of the tokens, which were made available instantly. From the remaining 56%, allocations were as follows: 7% designated for ecosystem rewards, with half released immediately and the other half after six months; 8.5% allocated for marketing, grants, and an accelerator pool for DApp developers, with 81.17% available immediately and 9.41% released biannually; 2% set aside for a community fund, with releases of 33.3% immediately, after six months, and after 12 months; 2.5% for advisors, disbursed after one year; 19% earmarked for founders and core team members of MultiversX, with staggered releases of 10% after six and 12 months, 15% after 18, 24, 30, and 36 months, and 20% after 42 months; and 17% reserved for the company to support the ecosystem, with 33.3% designated for staking during the first year released immediately, and 66.6% distributed in three equal installments over three years, beginning after one year. Initially issued on Binance Chain as ERD with a total supply of 20 billion, MultiversX tokens underwent a burn of 500 million in November 2019 and were reissued as ERC-20 tokens on the Ethereum blockchain. The company hosted a token swap event in September 2020, allowing token holders to exchange their ERC-20 and BEP-2 tokens for mainnet EGLD tokens. This swap reduced the total token supply from 20 billion to 20 million by implementing a swap ratio of 1,000 ERD to 1 EGLD.

MultiversX employs a secure proof-of-stake consensus algorithm that requires nodes to stake their EGLD tokens to participate in the validation process. Each validator receives a rating score based on their past activity, which significantly influences their selection for validation tasks. Validators with ratings that fall below a certain threshold are not selected and are subject to penalties. Additionally, validators can be expelled from the network and have their stakes reduced if they consistently compromise the network's integrity. The process of selecting validators is randomized and cannot be predicted or altered based on the previous validation rounds. Furthermore, validators are periodically redistributed among shards to prevent any potential collusion. Nodes communicate using modified Boneh-Lynn-Shacham (BLS) multi-signatures, ensuring robust cryptographic security.

EGLD can be purchased on cryptocurrency exchanges including Binance, OKEx, Bitfinex, and BitMax. It can be traded against fiat currencies such as the U.S. dollar and Indonesian rupiah, cryptocurrencies like Bitcoin (BTC) and Binance Coin (BNB), and stablecoins such as Tether (USDT) and Binance USD (BUSD). Transactions can be conducted on both spot and derivatives markets. If you're interested in buying EGLD or other cryptocurrencies like Bitcoin, Eulerpool offers a straightforward, step-by-step guide to help you learn about crypto and how to purchase your first coins.