MultiversX is a Layer 1 blockchain network that employs sharding to address scalability, enabling the creation of decentralized applications for various purposes.

MultiversX positions itself as a technology ecosystem for the new internet, which includes fintech, decentralized finance, and the Internet of Things. MultiversX blockchain can execute 15,000 transactions per second, with a six-second latency and $0.001 transaction cost.

EGLD is the native token of Elrond, which powers MultiversX. The protocol rewards community and active participants with EGLD tokens. It acts as a store of value currency to pay for network usage and serves as a medium of exchange between platform users and validators. The coin enables developers to deploy smart contracts, protocols, and dApps on the platform. EGLD holders can also vote on network decisions since it is endowed with the functionality of a governance token. Additionally, through staking and validation rewards, as well as transaction fees, EGLD manages the Elrond network.

EGLDMultiversX

Activation of the major Barnard Upgrade on mainnet