MultiversX is a high-throughput public blockchain characterized by its focus on security, efficiency, scalability, and interoperability through the implementation of two crucial elements: Adaptive State Sharding and a novel Secure Proof of Stake (SPoS) consensus mechanism. The EGLD token is the native token of the project and is used for network transactions, staking, and governance.
MultiversX, formerly known as Elrond Network, rebranded in November 2022 and introduced three new metaverse products:
l xFabric: A sovereign blockchain module that can host core blockchain applications. xFabric is fully customizable, and it can be deployed in minutes. The product comes with a wide range of features and use cases for any creative team, brand, or company.
l xPortal: The product is promoted as the portal to the Metaverse. This is where users can host their avatars, conduct financial transactions, and hang out with friends in a virtual world.
l xWorlds: A virtual world creation engine. It powers a network of interoperable metaverse worlds. The platform has been developed in partnership with Improbable, enabling users to enjoy unprecedented experiences deeply integrated with xPortal and xFabric.
MultiversX's key features:
l Adaptive State Sharding: MultiversX employs dynamic adaptive sharding on transaction, data, and network levels. This mechanism allows for shard merging and splitting based on the number of validators and network usage, ensuring optimal performance.
l Secure Proof-of-Stake Consensus: MultiversX utilizes Secure Proof-of-Stake Consensus, a secure and efficient consensus mechanism that completes in just two communication steps. It employs modified BLS multi-signatures among validators, and the consensus group composition remains unknown until shortly before each round.
l High Resiliency to Attacks: To enhance security, MultiversX periodically reshuffles nodes across shards. This reshuffling prevents collusion by randomly redistributing up to 1/3 of the nodes in each shard every epoch.
l High Throughput and Low Latency: MultiversX boasts remarkable throughput, capable of processing over 100,000 transactions per second at a minimal cost.
