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MultiversX (EGLD)
Price
$43.85 -1.75%
MultiversX (EGLD)
Number of casinos: 616
Cryptocurrency Code: EGLD
Website: multiversx.com
Max Supply: 31,410,000
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The History of MultiversX
Formerly known as Elrond, MultiversX continues to expand and evolve its technology.
MultiversX, originally launched as Elrond, emerged in 2017 as a response to the scalability challenges facing blockchain technology. Founded by Beniamin Mincu, Lucian Mincu, and Lucian Todea, the platform was designed to address the inefficiencies of existing networks by introducing groundbreaking solutions for speed, scalability, and decentralization. The rebranding to MultiversX in late 2022 marked a strategic shift to emphasize its ambitions within the Metaverse and Web3 ecosystems while maintaining its core technological innovations.
Foundational Vision and Early Innovations
The founding team, with diverse backgrounds in blockchain, technology, and entrepreneurship, brought a wealth of expertise to the project. Beniamin and Lucian Mincu had previously co-founded MetaChain Capital and ICO Market Data, giving them a solid foundation in blockchain investments and market analysis. Beniamin Mincu’s earlier roles in product and community management at NEM, as well as his investment in pioneering projects like Zilliqa and Tezos, played a significant role in shaping Elrond's direction. Lucian Todea’s experience as a serial entrepreneur in tech ventures such as Soft32 and mobilPay added depth to the leadership team.
The initial design of Elrond showcased a focus on adaptability and efficiency. Its Adaptive State Sharding and Secure Proof-of-Stake (SPoS) consensus mechanism represented a significant leap in blockchain scalability. By implementing horizontal scalability through sharding, Elrond aimed to support a growing number of transactions and decentralized applications without compromising security or decentralization.
Rebranding to MultiversX
In 2022, the project underwent a transformative rebranding to MultiversX, signaling a broader vision to encompass more than just blockchain solutions. This new identity reflected its expansion into decentralized finance (DeFi), real-world assets, and the Metaverse. While retaining its core technology, the shift to MultiversX underscored its commitment to enabling a connected digital economy. The native currency, EGLD (Electronic Gold), continued to serve as the backbone of the network, expediting governance, staking, and transactions.
The rebranding was not just a name change but a strategic move to highlight the platform’s evolution. With the rising interest in Web3 and the Metaverse, MultiversX positioned itself as a leader in creating scalable and efficient infrastructure for these emerging domains. Its ability to process up to 100,000 transactions per second, coupled with minimal latency and low transaction costs, made it a formidable competitor in the blockchain space.
Growth and Adoption
The platform has grown into an ecosystem supporting decentralized applications, smart contracts, and protocols, while fostering developer engagement through royalty-sharing mechanisms. By allowing developers to earn a percentage of smart contract fees, MultiversX incentivizes innovation and growth within its network. The network's capacity for handling complex transactions and its commitment to scalability and security have cemented its reputation as a forward-thinking blockchain solution.
MultiversX’s journey from Elrond highlights its adaptability and vision in a rapidly evolving industry. Its history is a testament to the transformative capacity of blockchain technology and its application in shaping the digital economies of the future. Let me know if you’d like me to expand on specific aspects or move to the next section of the review.
MultiversX stands as a rebranded version of Elrond, reflecting a bold evolution in its journey while preserving the innovative core that first established it as a leader in blockchain technology.
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The Popularity of MultiversX
The popularity of MultiversX, the rebranded version of Elrond, has surged in recent years as it positions itself at the front of blockchain innovation and scalability. Originally launched to tackle blockchain's scalability and speed issues, its transformation into MultiversX expanded its horizons to include decentralized finance (DeFi), real-world assets, and the Metaverse. This rebranding allowed it to retain the robust technical foundation of Elrond while adopting a modernized focus on Web3 applications. With a powerful transaction capacity of up to 100,000 per second, incredibly low fees, and enhanced security features, MultiversX appeals to developers, enterprises, and individual users alike. The network’s native token, EGLD, has further bolstered its appeal by enabling staking, governance, and seamless transactions, thereby solidifying its role in a fast-growing ecosystem. MultiversX's evolution from Elrond underscores its vision to lead in creating scalable solutions for the decentralized internet, driving its growing adoption and recognition across industries.
News and Articles for MultiversX
Stay in touch with the latest developments, partnerships, and innovations surrounding MultiversX (formerly Elrond) as it continues to make waves in the blockchain and Web3 sectors.
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How Has MultiversX Grown during the Years?
MultiversX, originally known as Elrond, has seen remarkable growth since its inception in 2017. The platform has consistently evolved, refining its technology, expanding its ecosystem, and rebranding to MultiversX in 2022 to reflect its broadened focus on the Metaverse and Web3. From addressing blockchain scalability with its groundbreaking sharding architecture to becoming a significant player in decentralized finance (DeFi) and real-world assets, MultiversX’s growth is a testament to its innovative approach in the blockchain industry.
2017 – The Founding of Elrond:
- Elrond was founded with the aim to solve the most pressing issue in blockchain: scalability. Beniamin and Lucian Mincu, alongside Lucian Todea, envisioned a platform that would support high throughput and low transaction costs.
- The team developed a unique adaptive state sharding model, which allowed Elrond to process transactions at an unprecedented speed, positioning it as a promising solution in the blockchain space.
2019 – Elrond Mainnet Launch:
- The mainnet launch marked a critical step for Elrond, with the implementation of Adaptive State Sharding and the Secure Proof-of-Stake (SPoS) consensus mechanism.
- Elrond was capable of processing up to 100,000 transactions per second (TPS), a major leap over traditional blockchains like Bitcoin and Ethereum.
- The network’s decentralized architecture and high scalability attracted attention from developers and investors alike.
2020 – Token Swap and New Tokenomics:
- Elrond underwent a token swap event, transitioning from its original ERD token to the EGLD token, with the total supply of the native token reduced from 20 billion ERD to just 20 million EGLD.
- The new tokenomics model was designed to make EGLD a deflationary asset, with validators and stakeholders playing an essential role in network security and governance.
- Elrond’s smart contracts were designed to support decentralized applications (dApps) and a wide range of blockchain-based services.
2021 – Growth and Ecosystem Development:
- Elrond’s performance continued to grow, with the network processing over 100,000 TPS and attracting a broader user base.
- A robust developer ecosystem began to form, with projects using Elrond’s smart contract platform for decentralized finance (DeFi), non-fungible tokens (NFTs), and other blockchain applications.
- Partnerships with major players in the blockchain space, including Binance, helped further solidify Elrond's position as a top-tier blockchain network.
2022 – Rebranding to MultiversX:
- Elrond rebranded as MultiversX to reflect its expanded vision. The new name signified a shift towards becoming a key player in the Metaverse, Web3, and decentralized internet economy.
- MultiversX retained its core technological foundation, including its scalable architecture, but also began focusing on enabling virtual worlds, real-world assets, and decentralized applications in the Metaverse.
- The rebranding also aimed to position MultiversX as a comprehensive blockchain solution for developers and enterprises looking to build in the evolving digital landscape.
2023 – Expanding Adoption and Ecosystem:
- MultiversX continued to scale with the introduction of more validator nodes, enhancing its decentralization and network security.
- New partnerships and collaborations, particularly in the areas of DeFi and NFTs, expanded the platform’s ecosystem.
- The platform also began to gain recognition in enterprise adoption, with companies leveraging MultiversX’s technology for cures in industries such as finance, healthcare, and gaming.
| Year | Price (USD) | % Change from Previous Year |
|---|---|---|
| 2017 | N/A | N/A |
| 2018 | N/A | N/A |
| 2019 | $0.030 | N/A |
| 2020 | $18.50 | +61,566% |
| 2021 | $250.00 | +1,249% |
| 2022 | $52.00 | -79.20% |
| 2023 | $29.50 | -43.27% |
MultiversX’s evolution from Elrond is a story of growth, adaptation, and resilience in the blockchain space. Each year has brought new challenges and opportunities, and with the rebranding to MultiversX, the platform has continued to solidify its position as a leader in the decentralized internet economy.
What are the Best Platforms to Trade with MultiversX?
When looking to trade MultiversX (EGLD), there are several reliable and well-established platforms to consider. These exchanges provide users with secure and efficient ways to buy, sell, and trade EGLD across various pairs, including against major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), as well as stablecoins like USDT. Given the global appeal of MultiversX, these platforms support high liquidity and competitive fees, which are essential for active traders. Many of these exchanges also offer advanced trading features such as futures contracts, staking opportunities, and mobile apps to enhance the user experience.
Some of the most popular platforms for trading MultiversX include Binance, one of the largest cryptocurrency exchanges in the world, which supports a wide range of trading pairs for EGLD and offers comprehensive trading tools. OKEx and Bitfinex are also excellent choices, with extensive services for both beginners and professional traders, including futures and margin trading. Additionally, platforms like KuCoin and BitMax are often favored for their user-friendly interfaces and a variety of pairing options for EGLD. For those interested in decentralized exchanges (DEXs), platforms such as SushiSwap and PancakeSwap also support EGLD, offering a more decentralized approach to trading. It's crucial to assure that the chosen platform fits your needs, whether you’re looking for high-volume trading, low fees, or additional services like staking.
| Platform | Trading Pairs | Key Features |
|---|---|---|
| Binance | EGLD/BTC, EGLD/USDT, EGLD/ETH | Large liquidity, futures, and advanced tools |
| OKEx | EGLD/BTC, EGLD/USDT, EGLD/ETH | Comprehensive services, margin trading |
| Bitfinex | EGLD/BTC, EGLD/USDT, EGLD/ETH | Advanced trading options, high liquidity |
| KuCoin | EGLD/BTC, EGLD/USDT, EGLD/ETH | User-friendly, low fees, wide pairings |
| BitMax | EGLD/BTC, EGLD/USDT, EGLD/ETH | Intuitive interface, good for beginners |
| SushiSwap | EGLD/USDT (via DeFi) | Decentralized exchange, DEX features |
| PancakeSwap | EGLD/USDT (via DeFi) | Decentralized exchange, low fees |
How to Open an OKEx Account and Find Your MultiversX (EGLD) Address
Step01
Visit the OKEx Website
Go to the official OKEx website (https://www.okex.com). Make sure you are on the correct website to avoid phishing scams.
Step02
Sign Up for an Account
On the homepage, press on the “Sign Up” button in the upper-right corner. You will be asked to provide your email address and create a password. You can also sign up using your phone number or through a Google account. After filling out the details, click “Sign Up.”
Step03
Verify your email address.
OKEx will send a verification email to the address you provided. Open your inbox, find the email from OKEx, and click the verification link.
Step04
Enable Two-Factor Authentication (2FA)
For additional security, it's recommended to enable two-factor authentication (2FA). You can set up 2FA by linking your account to Google Authenticator or via SMS. This ensures your account is safe from unauthorized access.
Step05
Complete KYC Verification (Optional but Recommended)
If you plan to use your account for larger transactions, you may need to complete Know Your Customer (KYC) verification. Submit a photo ID (passport, national ID, or driver's license) and a selfie to verify your identity.
Step06
Deposit MultiversX (EGLD)
Once your account is set up, log into your OKEx account. Head over to the “Assets” section and select “Deposit.” Choose EGLD (MultiversX) from the list of available assets. You will be provided with a unique MultiversX (EGLD) deposit address. Copy the address and use it to transfer EGLD from another wallet or exchange to OKEx.
Step07
Find Your MultiversX (EGLD) Address
In the “Deposit” section, after selecting EGLD, you'll see a deposit address displayed on the screen. This is your unique MultiversX address. Copy the address carefully to avoid any mistakes when transferring your EGLD.
What Casino Games Can I Play with MultiversX?
With MultiversX (EGLD), you can play a variety of casino games on platforms that support this cryptocurrency. While many online casinos focus on traditional payment methods or more widely used cryptocurrencies like Bitcoin and Ethereum, the evolvment of blockchain technology has led to the integration of newer coins like EGLD for betting. These platforms typically offer games such as slots, table formats like blackjack and roulette, as well as live dealer games. Moreover, some decentralized casinos (also known as DApps) allow players to enjoy these games in a more secure and transparent environment by leveraging smart contracts on the MultiversX blockchain. This makes EGLD an increasingly popular option for casino enthusiasts seeking a cutting-edge and reliable currency for online gaming.
| Crypto currency | Sym | Casino | Slots | Roulette | Baccarat | Poker | Blackjack | Live casino | eSports | Sports |
EGLD
|
elrond-egld |
Interesting Facts About MultiversX
MultiversX, formerly known as Elrond, has rapidly evolved into one of the most promising blockchain platforms, offering innovative solutions to scalability, security, and decentralization. Its unique features have attracted widespread attention from both developers and investors alike. Here are some interesting facts that highlight its evolution and key components:
- Rebranded from Elrond: MultiversX was originally known as Elrond, and it rebranded to reflect its broader vision of building a scalable, secure blockchain infrastructure for the new internet economy. The shift to MultiversX highlights its focus on decentralized finance, real-world assets, and the Metaverse.
- High Scalability: MultiversX uses a unique Adaptive State Sharding method to achieve scalability. The network is capable of processing over 100,000 transactions per second, making it one of the fastest blockchains available today.
- EGLD Token: The native token of MultiversX is EGLD, which serves multiple purposes including staking, governance, and as a transaction fee currency. EGLD is used to pay for network usage, reward validators, and also allows holders to vote on key network decisions.
- Decentralized Governance: EGLD holders can participate in governance through voting mechanisms, allowing them to influence network upgrades and changes. This decentralized approach ensures that MultiversX operates transparently and in the interest of its community.
- Sharding Technology: MultiversX utilizes state, network, and transaction sharding to parallelize and speed up its blockchain. This allows the network to take on a larger volume of transactions and scale as needed.
- Metachain Architecture: One of the unique aspects of MultiversX is its “Metachain,” which coordinates all the shards. This helps ensure smooth operations across the entire network and maintains overall system integrity.
- Validator Nodes: The network relies on over 3,200 validator nodes split across multiple shards. Validators are essential in securing the blockchain, processing transactions, and maintaining consensus.
- Early Success and Adoption: Since its launch, MultiversX has attracted significant attention from developers and the crypto community. It has formed partnerships with major players in the blockchain space and has continued to expand its ecosystem.
- Focus on Developers: MultiversX offers a variety of tools for devs to create decentralized applications (dApps) on its platform. It also rewards developers with a share of the transaction fees generated by their dApps.
- Sustainability: MultiversX is committed to sustainability by offering energy-efficient consensus mechanisms. The platform's target is to minimize its environmental impact, making it an attractive choice for eco-conscious developers and users.
CasinoLandia's Conclusion About MultiversX
In conclusion, MultiversX (formerly Elrond) has positioned itself as a leader in blockchain innovation, offering solutions that address the scalability issues that have long plagued the industry. By incorporating advanced technologies like Adaptive State Sharding and using its native EGLD token for a variety of network functions, MultiversX provides a robust and efficient platform for decentralized applications, smart contracts, and decentralized finance (DeFi) solutions. The transition from Elrond to MultiversX signifies the platform’s evolving vision of supporting the new internet economy, including sectors like the Metaverse and real-world assets. Its focus on scalability, security, and decentralization ensures that MultiversX is poised for further adoption and growth within the blockchain ecosystem. Either through its validator node system or its sustainable approach to consensus mechanisms, MultiversX continues to be an appealing option for developers, investors, and users alike, all of whom benefit from the platform's high throughput and innovative structure. As the world continues to accept blockchain technology, MultiversX's dynamic features ensure that it remains at the forefront of the next generation of digital infrastructure.
Author
Alexander Yanev | Content Writer