What is MultiversX (Elrond)?
MultiversX, formerly known as Elrond, is a blockchain platform designed to address the trilemma of decentralization, scalability, and security. Founded by brothers Beniamin and Lucian Mincu, it leverages adaptive state sharding and a WebAssembly-based virtual machine to achieve high throughput (15,000 TPS) and fast transaction finality (6 seconds).
👉 Discover how MultiversX compares to other Layer 1 blockchains
Core Features:
- Secure Proof-of-Stake (SPoS): Energy-efficient consensus with ~2,400 validators
- Adaptive State Sharding: Dynamic partitioning of blockchain state for linear scalability
- Elrond Virtual Machine (EVM): Supports smart contracts in Rust, C++, and TypeScript
- Fixed Supply: 31,415,926 EGLD (first 8 digits of π)
EGLD Price History and Trends
2019-2020: Foundation Years
| Event | Detail |
|---|---|
| Private Sale (Jun 2019) | Raised $1.9M at $0.50 per 1,000 ERD |
| Binance IEO (Jul 2019) | Sold 5M EGLD at $0.65 |
| Mainnet Launch (Jul 2020) | 1,000:1 token swap (ERD→EGLD) |
| Post-Mainnet Price | Stabilized at $10-$12 range |
2021: Bull Market Surge
- February: Reached $200 (+1,500% from ICO)
- April: Peaked at $240
- November 23: All-time high of $545
2022: Market Downturn
- Q1: Fell from $213 to sub-$100
- Year-end: Bottomed at $44 (-92% from ATH)
- Market cap ranking: #39 among cryptos
How MultiversX Technology Works
- Parallel Processing Architecture
- State, transaction, and network sharding
-
Cross-shard transactions in <1 second
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Economic Model
- 30% APY for stakers (current network rate)
-
0.0001 EGLD average transaction fee
-
Metaverse Transition
- Rebranded to MultiversX in Q3 2022
- Focus on Web3 and virtual economies
👉 Learn about staking EGLD for passive income
Key Milestones in MultiversX Development
- 2017: Conceptualization by Mincu brothers
- 2018: AWS prototype achieving 1,000 TPS
- 2019: Public testnet + $19M total funding
- 2020: Mainnet launch with 1,500 validators
- 2021: xPortal launch (non-custodial wallet)
- 2022: Rebranding and metaverse pivot
Frequently Asked Questions
What determines EGLD’s price?
EGLD’s value correlates with:
1. Network adoption (dApps, users)
2. Crypto market trends
3. Staking participation rates
4. Exchange listings
Can EGLD be mined?
No. As a proof-of-stake chain, EGLD is earned through:
– Validator nodes (3,200 EGLD required)
– Delegated staking (minimum 1 EGLD)
– Liquidity provisioning
Why did Elrond rebrand to MultiversX?
The shift reflects:
– Expanded focus beyond payments
– Metaverse infrastructure development
– Web3 identity solutions
– Cross-chain interoperability goals
Where to buy EGLD?
Top exchanges include:
1. Binance (30% of volume)
2. OKX (supports staking)
3. Bybit (low-fee spot trading)
4. KuCoin (decentralized options)
Note: All price data reflects historical performance. Cryptocurrency investments carry substantial risk – always conduct independent research.
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