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MultiversX (EGLD) Market Value, News

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What is MultiversX (EGLD)?

MultiversX (EGLD) is a native token of the Elrond Network blockchain. It is a high-performance, scalable, and secure blockchain that is designed to support a wide range of applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), and gaming.

EGLD is used to pay for network fees, secure the network, and participate in governance. It can also be staked to earn rewards.

Market Value

As of March 8, 2023, the market capitalization of EGLD is $1.2 billion. The total supply of EGLD is 31,415,926 tokens, and the circulating supply is 25,574,382 tokens.

History of Technology

The Elrond Network was founded in 2017 by Beniamin Mincu, Lucian Todea, and Andrei Rugescu. The team developed the Elrond Network to address the scalability and security challenges of existing blockchains.

The Elrond Network uses a unique consensus mechanism called Adaptive State Sharding (ASS). ASS allows the Elrond Network to scale to millions of transactions per second while maintaining high security.

Who Founded It?

MultiversX (EGLD) was founded by Beniamin Mincu, Lucian Todea, and Andrei Rugescu.

  • Beniamin Mincu is the CEO of Elrond Network. He is a serial entrepreneur with experience in the technology industry.
  • Lucian Todea is the CTO of Elrond Network. He is a software engineer with experience in the blockchain and cryptocurrency industries.
  • Andrei Rugescu is the COO of Elrond Network. He is a business development executive with experience in the technology industry.

Pros and Cons

Pros:

  • High performance: The Elrond Network can process millions of transactions per second.
  • Scalable: The Elrond Network can scale to meet the needs of a growing user base.
  • Secure: The Elrond Network uses a unique consensus mechanism called Adaptive State Sharding (ASS) to maintain high security.
  • Decentralized: The Elrond Network is a decentralized blockchain.

Cons:

  • New: The Elrond Network is a new blockchain, and it is not yet clear how it will be able to compete with other blockchains.
  • Expensive: The fees to use the Elrond Network are relatively high.
  • Complex: The Elrond Network is a complex blockchain, and it can be difficult to use.

Technology Used

The Elrond Network uses a unique consensus mechanism called Adaptive State Sharding (ASS). ASS allows the Elrond Network to scale to millions of transactions per second while maintaining high security.

ASS works by dividing the Elrond Network into shards. Each shard is responsible for processing a subset of the network’s transactions. The shards are then synchronized with each other to ensure that the entire network remains consistent.

The Elrond Network also uses a number of other technologies to improve its performance, scalability, and security. These technologies include:

  • Secure multiparty computation (MPC): MPC is used to protect user data and ensure that transactions are processed securely.
  • Verifiable random function (VRF): VRF is used to generate random numbers that are used to secure the network.
  • Byzantine Fault Tolerance (BFT): BFT is used to ensure that the network remains secure even if some of the nodes are compromised.

Market Value

The market value of EGLD is determined by the supply and demand for the token. The supply of EGLD is fixed at 31,415,926 tokens, but the demand for the token can fluctuate based on a number of factors, such as the Elrond Network’s adoption rate, the price of Bitcoin, and the overall market sentiment for cryptocurrencies.

Conclusion

MultiversX (EGLD) is a promising blockchain project with the potential to revolutionize the way we interact with the internet. The Elrond Network’s high performance, scalability, and security make it a compelling platform for a wide range of applications, including DeFi, NFTs, and gaming.

However, the Elrond Network is still a new project, and it is not yet clear how it will be able to compete with other blockchains. If you are considering investing in EGLD, it is important to do your own research and understand the risks involved.

How To Buy MultiversX (EGLD)?

Do you want to plunge into the world of cryptocurrencies and know where to buy How To buy MultiversX (EGLD)? The largest exchanges currently trading with How To Buy MultiversX (EGLD)? Kucoin , Gate.io  Binance and . You can find other exchanges that make listings.

About MultiversX (EGLD)

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Websitehttps://multiversx.com/
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