MultiversX (EGLD)

Infrastructure and Scalability

MultiversX is a fast, secure, and scalable blockchain platform designed to support distributed applications and enterprise use cases. It uses sharding technology to handle many transactions quickly and efficiently.

Decentralized Applications (dApps)

It enables developers to build and deploy decentralized apps that can run smoothly at internet scale, supporting complex smart contracts and cross-shard execution.

Digital Economy and Assets

MultiversX supports the creation, management, and exchange of digital assets, helping communities and organizations participate in the evolving internet economy.

User Experience and Accessibility

With tools like the xPortal super-app, MultiversX offers easy access to crypto wallets, payments, and asset management on mobile devices, making blockchain technology more user-friendly.

Enterprise and Web3 Solutions

The platform is built to serve businesses and developers looking for adaptable blockchain solutions for Web3, DeFi, NFTs, and other innovative digital services.

Pros of MultiversX

• Scalability: Uses advanced sharding technology to handle over 100,000 transactions per second, making it very fast.
• Low Transaction Costs: Fees are very low, around $0.00188 per transaction.
• Energy Efficiency: Uses Secure Proof-of-Stake, which consumes much less energy than Proof-of-Work blockchains.
• Smart Contract Support: Enables decentralized apps (dApps), DeFi, NFTs, and metaverse projects.
• User-Friendly: Offers an easy-to-use wallet and staking options to earn rewards.
• Interoperability: Designed to work with other blockchains, increasing flexibility.

Cons of MultiversX

• New Technology: Some features like adaptive state sharding are relatively new and less tested over time.
• Centralization Concerns: The founding team holds a significant amount of EGLD tokens, which may affect decentralization.
• Smaller User Base: Compared to bigger blockchains, it has fewer users and less total value locked in DeFi.
• Competition: Faces strong competition from other fast blockchains like Solana.
• Security Trade-offs: Some critics worry that speed improvements might affect security or decentralization.

For more details, visit the official MultiversX website.

Founders of MultiversX

The founders of MultiversX are Beniamin Mincu, Lucian Mincu, and Lucian Todea. Beniamin Mincu is the CEO, Lucian Mincu serves as CIO, and Lucian Todea is the COO. The project started in 2017 under the original name Elrond before rebranding to MultiversX in 2022.

Key Investors in MultiversX

• Venture Capital Firms: Some of the main investors include Astrarizon Ventures, ICE Capital, Chainfund Capital, CRT Labs, and DeltaHub Capital.
• Crypto-Focused Investors: Electric Capital, NGC, and Binance have also invested in MultiversX.
• Number of Investors: MultiversX has attracted investment from over 30 investors across multiple funding rounds.
• Funding Amount: The project has raised around $58 million in total funding.

These investors support MultiversX's growth and development in the blockchain space.

Halal Status

Yes, MultiversX is considered halal. It aligns with Shariah principles due to its decentralized nature, secure proof of stake consensus mechanism, and transparent operations.