MultiversX (formerly Elrond) is a blockchain platform catering to Metaverse, DeFi, and Web3-focused applications. It features scalable infrastructure and NFT support, uses its EGLD token for key network functions, and focuses on security, decentralization, and environmentally sustainable operations. The ecosystem includes utility products such as MxBridge, MxWallet, and MxExplorer, and xProducts including xMoney, xExchange, xLaunchpad, xFabric, xPortal, xWorlds, and xSpotlight, which cover cross-chain bridging, web wallets, block exploration, web3 payments, a decentralized exchange, a project launchpad, and a no-code web3 building platform.
Elrond is a new blockchain architecture, designed for high throughput and fast execution speed. To achieve this, Elrond introduces two key features: an Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, which aims to enable linear scalability. The team says its smart contract platform can process upwards of 15,000 transactions per second, with six-second latency and low transaction costs, yet aims to remain permissionless, borderless, and globally accessible.
Elrond is built by a team of entrepreneurs, along with 13 engineers and researchers who have worked at various tech companies, such as Microsoft, Google, Intel, and NTT DATA, and have experience working with blockchain platforms.
The team includes two PhDs in CS and AI, multiple math, CS, and AI Olympiad champions, and a former member of the NEM core team.
