MultiversX
Protocol, Smart Contract Platform, Layer 1 (L1), MultiversX Ecosystem, Binance Launchpad, DWF Labs Portfolio, Proof of Stake (PoS), Binance Labs Portfolio, GMCI Layer 1 Index
About MultiversX
Elrond is a blockchain-based project that seeks to revolutionize the way digital assets are exchanged and managed.
It is a public, permissionless, and secure blockchain platform that uses sharding technology to increase scalability and speed. Elrond’s goal is to create an open, accessible, and secure digital asset ecosystem for users around the world. Elrond’s mainnet was launched in July 2020 and it uses a novel consensus mechanism called Adaptive State Sharding (ASSh).
This allows the network to scale up to 10,000 transactions per second (TPS) with low latency. The platform also features a virtual machine (VM) that supports smart contracts written in Solidity and other languages. Elrond also has its own native token called EGLD which is used for staking, governance, and payment of transaction fees.
Elrond also offers a decentralized finance (DeFi) platform called eGold which allows users to borrow, lend, trade, and stake digital assets. The platform also provides tools for developers such as an SDK for building decentralized applications (dApps). Additionally, Elrond has partnered with several companies such as Binance to provide liquidity for its tokens.
Overall, Elrond is an ambitious project that seeks to revolutionize the way digital assets are exchanged and managed by providing a secure and scalable blockchain platform with DeFi capabilities.
