Elrond Scalability-focused Layer 1

MultiversX, also referred to as the EGLD network, is a distributed layer-1 blockchain network positioned for high-throughput, "internet-scale" applications. The network is secured by a Secure Proof of Stake consensus mechanism and scaled through adaptive state sharding, which the company describes as covering state, network and transaction sharding simultaneously in a live system. Smart contracts run on a WASM-based virtual machine, allowing developers to write contracts in established programming languages and compile them for execution on the network.

The platform is oriented toward developers and ecosystem builders, offering native asset issuance, sovereign chains, and a developer royalty model under which contract authors receive 30% of the gas fee generated each time their smart contract is called. The native EGLD token is used for network access and usage, staking and security, and economic alignment among network participants. The company also emphasizes energy efficiency and sustainability of its consensus design.

Business model

The network operates as public blockchain infrastructure: usage is paid for in gas fees denominated in the native EGLD token, validators stake EGLD to secure the network and earn rewards, and 30% of the gas fee from smart contract calls is routed to the contract's developer.

Traction

The site reports 3,200 validator nodes, more than 434.7 million total transactions, and 9.14 million total onchain active addresses. The ecosystem listing shows 123 projects, 96 partners, 75 validators and 31 service providers, with roughly 39,000 community members across Discord and Telegram. Its xDay 2023 event drew about 2,600 attendees and over 1,000 hackathon participants.

Latest developments

The company publishes regular posts across ecosystem, technical, community and use-case categories, with recent entries covering internet-scale design, sharding challenges, staking and wallet security practices.