MultiversX (ex-Elrond): A Complete Project Guide

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MultiversX, formerly known as Elrond, has emerged as a powerful player in the blockchain space, redefining scalability, speed, and sustainability. With a bold pivot toward the metaverse, this Layer-1 blockchain aims to bridge digital worlds through high-performance infrastructure and user-centric applications. This comprehensive guide explores the technology, ecosystem, tokenomics, and investment potential of MultiversX—offering valuable insights for developers, investors, and Web3 enthusiasts.

What Is MultiversX?

MultiversX is a decentralized blockchain platform designed for high throughput, low latency, and energy efficiency. Originally launched as Elrond in 2017, the project rebranded in 2022 to reflect its strategic shift toward the metaverse, Web3, and cross-chain interoperability.

The network leverages innovative technologies like Secure Proof of Stake (SPoS) and sharding to deliver over 15,000 transactions per second (TPS) with average fees under $0.001. These performance metrics position MultiversX as a scalable alternative to congested networks like Ethereum—without sacrificing decentralization or security.

👉 Discover how MultiversX powers next-gen blockchain applications with speed and sustainability.

Core Technology Behind MultiversX

Secure Proof of Stake (SPoS)

MultiversX operates on a Layer-1 blockchain secured by its proprietary Secure Proof of Stake (SPoS) consensus mechanism. Unlike traditional PoS systems that favor large stakeholders, SPoS introduces randomness and reputation scoring to validator selection.

Validators are chosen based on:

This approach enhances security, reduces centralization risks, and ensures fair participation across the network.

Sharding: The Engine of Scalability

Sharding is the cornerstone of MultiversX’s performance. The network divides processing tasks into three types of shards:

By splitting workloads, sharding enables parallel transaction processing—drastically improving speed and scalability. As demand grows, new shards can be dynamically added, offering near-infinite scalability.

The $EGLD Token: Utility and Value

$EGLD is the native cryptocurrency of the MultiversX network. Despite early branding as "eGold," it has no direct link to physical gold—its value stems from utility and demand within the ecosystem.

Key Uses of $EGLD:

With a maximum supply capped at 31.41 million EGLD, the token follows a deflationary model. Circulating supply was around 25 million in early 2023, with full emission expected by 2032 due to vesting schedules and staking rewards.

MultiversX Ecosystem: X-Series Applications

MultiversX has built a suite of user-friendly tools under its "X" product line—designed to onboard mainstream users into Web3 seamlessly.

xPortal

A mobile app combining a crypto wallet, NFT gallery, metaverse access, and financial tools. xPortal also offers:

xWorlds

An interoperability layer connecting different metaverses. xWorlds allows avatars, assets, and identities to move freely between virtual environments—enabling a unified digital experience.

xExchange

A decentralized exchange (DEX) for swapping tokens within the MultiversX ecosystem.

xWallet

A non-custodial wallet supporting EGLD, NFTs, and dApp interactions—available as a browser extension and mobile app.

xFabric

Dubbed the “WordPress of Web3,” xFabric enables no-code development of dApps and smart contracts—democratizing access for creators without coding skills.

xLaunchpad

A launchpad for new projects to raise funds. Users gain access by staking at least 1 EGLD, earning tickets based on their stake duration.

👉 Learn how to start building or investing in the MultiversX ecosystem today.

Historical Milestones

Price History & Market Outlook

After launching at $17.67 in 2020, EGLD surged during the 2021 bull run, peaking near **$491** in November. It corrected sharply during the 2022 bear market, dropping below $45 before stabilizing between $30–$80 through 2024.

Market dynamics affecting EGLD price:

While past performance doesn’t guarantee future results, many analysts believe EGLD could rebound strongly in the next bull cycle—driven by ecosystem expansion and increased institutional interest.

Advantages of MultiversX

⚡ High Scalability

Thanks to adaptive sharding, MultiversX can scale horizontally—adding capacity as needed without compromising speed.

💸 Ultra-Low Fees

Transactions cost less than one-tenth of a cent, making microtransactions viable for gaming, IoT, and DeFi.

🔐 Strong Security Model

Randomized validator selection and reputation scoring reduce attack vectors and promote honest behavior.

🌐 Real-World Partnerships

MultiversX has partnered with global brands like Opera, Tencent, and Mastercard—validating its technology and accelerating mainstream adoption.

Challenges and Criticisms

🏁 Competitive Landscape

MultiversX faces stiff competition from other scalable blockchains such as:

Differentiation lies in its unique combination of SPoS + sharding + metaverse focus.

🎨 Branding Shift Concerns

The rebrand from Elrond to MultiversX raised skepticism in late 2022—especially amid cooling hype around the metaverse. However, product delivery (e.g., xPortal) has helped rebuild confidence.

User and Expert Opinions

Community sentiment remains largely positive:

Media outlets like NewsBTC have recognized MultiversX as a leader in Web3 innovation:

"Elrond, now MultiversX, is at the forefront of metaverse trends thanks to its fast, scalable blockchain and high-level partnerships."

Still, critics argue the ecosystem needs more compelling dApps to drive organic growth beyond core tools.

Should You Invest in MultiversX?

Investing in $EGLD can be a strategic long-term move—if done responsibly.

Why It’s Promising:

However, never invest more than you can afford to lose. We recommend allocating no more than 10% of your crypto portfolio to any single asset—including EGLD.

Practical Tips:

How to Buy and Stake $EGLD

Top Platforms to Purchase EGLD:

Step-by-Step Staking Guide:

  1. Download xPortal or use xWallet
  2. Transfer your EGLD to the wallet
  3. Navigate to the “Earn” section
  4. Select a non-full validator node
  5. Delegate your stake

Rewards accrue daily and can be withdrawn anytime. Staking also grants access to xLaunchpad opportunities.

Frequently Asked Questions (FAQ)

Q: What happened to Elrond? Is it still active?
A: Elrond was rebranded to MultiversX in 2022. The blockchain remains fully operational with enhanced focus on metaverse integration.

Q: Can I mine EGLD?
A: No. MultiversX uses SPoS consensus, so mining isn't possible. Instead, users earn rewards through staking.

Q: How many EGLD tokens are in circulation?
A: As of Q1 2023, approximately 25 million EGLD were circulating, out of a max supply of 31.41 million.

Q: Is MultiversX eco-friendly?
A: Yes. Due to its SPoS mechanism and efficient architecture, MultiversX consumes significantly less energy than proof-of-work blockchains.

Q: Does staking EGLD lock my funds?
A: No. You retain full control of your tokens and can unstake at any time—though rewards pause during withdrawal periods.

Q: Are there risks using xPortal or MetaMask?
A: Always verify URLs and never sign suspicious smart contracts. Use two-factor authentication and avoid phishing sites.

👉 Start exploring secure ways to grow your crypto holdings with MultiversX.

Final Verdict: Is MultiversX Worth It?

MultiversX stands out as a technically advanced blockchain with real utility and a clear vision for the future. From blazing-fast transactions to seamless metaverse interoperability, it offers tools that cater to both developers and everyday users.

While competition is fierce and market sentiment fluctuates, MultiversX has demonstrated resilience—even maintaining top 50 ranking during bear markets. With continuous product development and strong partnerships, it remains a compelling project in the evolving Web3 landscape.

For informed investors seeking exposure to scalable blockchain innovation with metaverse potential, MultiversX ($EGLD) deserves serious consideration—but always within a diversified strategy.