MultiversX/EGLD#140 25

What is MultiversX (EGLD)?

MultiversX (EGLD) is a layer 1 open-source sharded blockchain network that can process up to 263,000 transactions per second; this allows more efficient and fast transactions.

EGLD (Electronic Gold) is the native token of MultiversX, Formerly MultiversX known as Elrond, rebranded to MultiversX in November 2022, and works on the Proof of Stake concept.

MultiversX provides a platform for developers to build decentralized apps, and a platform called xSpotlight showcases and supports new blockchain innovations. Has its exchange called xExchange.

Beniamin, Lucian Mincu, and Lucian Todea founded MultiversX in 2017. Earlier, Beniamin and Lucian Mincu were the co-founders of MetaChain Capital and ICO Market Data. 

Unlike other blockchain networks, MultiversX claims that it provides more secure and fast transactions because it uses Secure proof of stake concepts, that is built on different types of nodes like validator, observer, and fisherman. These nodes help the blockchain network to enhance the transactions.

How Does MultiversX Work?

There are three core concepts on which MultiversX works: 

• Adaptive State Sharding

MultiversX has created an adaptive state-sharding technique that creates a balanced and high-performance system and sets it apart from other traditional blockchains. It includes three states sharding, network, and transaction. 

• Secure Proof-of-Stake Consensus Mechanism

MultriversX has developed a unique proof-of-stake algorithm called Secure Proof-of-Stake, which has several innovative features.

Not like other Proof-of-Stake (POS) algorithms, MultiversX uses Secure Proof of Stake which has three different types of nodes: validators, observers, and fishermen. This Secure Proof of Stake (SPOS) algorithm is developed to enhance the transaction while maintaining a high level of security on the network.

• Elrond/MultiversX Virtual Machine

Elrond/MultiversX has developed the platform for Virtual Machine, which helps developers build smart contracts on a network of MultiversX. The platform supports any programming language, for example, C++, Java, Pinescript, etc. Which helps developers program in a familiar language.

EGLD Token History

EGLD is the native token of the MultiversX which plays an important role in the network as it is used for power transactions, and also for staking, governance, and paying transaction fees in the network.

MultiversX (EGLD) is an inflationary token with a total supply of  27,484,559.00, a maximum supply of 31,415,926.00, and a circulating supply of 27,392,847.72631577 as of October 2024. EGLD made its all-time high on Feb 15, 2023, with a price of $0.12111479529235405000, and its all-time low on Sep 10, 2024, with a price of $0.00001749.

MultiversX Price Prediction For the Year 2025-2030

According to Coinpedia, the MultiversX price for the year 2025 is expected to reach a low of $39.60 and a high of $47.61, and the expected average price would be $40.97.

As for the 2030 price prediction, it would trade between $227.25 and $273.92, and an average price is expected to be $233.75.

Types of accounts in the MultiversX network

There are two types of accounts, namely regular user accounts and smart contract accounts.

Tokens, such as EGLD and ESDT tokens (fungible, semi-fungible, or non-fungible ones), can be held by both regular user accounts and smart contract accounts.

Transactions can be signed by regular user accounts with their private key. Since smart contracts cannot sign transactions, they cannot create actual transactions. Rather, they engage with other accounts through the creation of so-called unsigned transactions, also known as smart contract outcomes.

Where can you buy MultiversX (EGLD)?

Purchasing MultiversX only takes a few minutes. This is how to begin:

Make an account with Exchange: Go to any exchanges that offer EGLD, then select "Sign Up." To register, provide an email address and finish the verification process.

Purchase USDT: To exchange USDT for $EGLD, you must purchase USDT. With a credit card, debit card, bank transfer, or e-wallet, you can buy USDT.

Purchase $EGLD: Choose "Markets" and look up EGLD. After selecting the EGLD/USDT trading pair, input the quantity of USDT that needs to be converted into EGLD. To complete the trade, click "Buy EGLD." 

MultiversX Wallets.

There are more than 100+ wallets; you can select among them that best suit you. For example, Phantom Wallet, Sollet Wallet, Solflare Wallet, and Atomic Wallet. These wallets give you secure storage for your tokens; always ensure you’re using a reputable wallet to protect your assets.

MultiversX explorer.

Explorer is a web-based tool that helps us navigate blockchain networks and helps us to see real-time data, including transactions, blocks, addresses, smart contracts, and token information. The Explorer of MultiversX is explorer.multiverx.com. 

How to create Dapps on MultiversX?

• On MultiversX, you can develop decentralized apps, or dApps, in the following ways:
• Make a folder for the project: Make a new folder called "XYZ" for your project.
• Set up mxpy: Install mxpy to build your smart contract
• Duplicate the template: Take a copy of the mx-template app on GitHub.
• Put modules in place: To install modules, run “yarn” install.
• Utilize in the development mode: Run “yarn” start: “devnet” to run in development mode 
• Constructed for both testing and production: To build the project for testing and production, run yarn build:devnet.
• View in the browser: Launch the browser and navigate to http://localhost:3000 to see the project.

Which are the notable Dapps built on MultiversX?

The most notable Dapps built on MultiversX are as follows

• Hatom Protocol
• Refracto
• Lunar pay
• Arcadia 
• xCards
• Cyberpunk City.