MultiversX(EGLD)

Overview

MultiversX (formerly Elrond) is a layer-1 blockchain protocol that pursues horizontal scalability by applying sharding across the network, transaction, and state layers. It uses Adaptive State Sharding together with a proof-of-stake consensus mechanism, and the project cites high throughput, roughly six-second latency, and low transaction costs among its design goals.

EGLD, short for Electronic Gold, is the network's native token and is used to pay transaction fees and to deploy smart contracts and decentralized applications. It also underpins network security, as validators and delegators stake EGLD to take part in consensus and earn rewards, and holders can use it to vote on governance proposals affecting the protocol.