What is MultiversX (EGLD)?
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🟢 The simple version
Plain English — no jargon. Start here.
MultiversX (formerly Elrond) is a high-performance Layer 1 blockchain using adaptive state sharding — splitting both the network and state into parallel shards to achieve linear scalability — with the EGLD token used for gas, staking, and governance on the network.
From Elrond to MultiversX
Elrond launched mainnet in July 2020 and rebranded to MultiversX in November 2022 — a rebrand that reflected an ambitious pivot toward the "metaverse" and digital ownership thesis. The core technology remained: a sharded blockchain with high throughput. The Elrond/MultiversX team is based in Romania and has built strong traction in European tech circles.
MultiversX's sharding approach: the network is divided into multiple shards (typically 3 shards + 1 metachain). Each shard processes its own subset of transactions in parallel. The metachain coordinates between shards and finalises blocks. Adaptive sharding means the number of shards can increase as the network grows, theoretically providing linear scalability (double the shards = double the throughput).
xEGLD and staking
EGLD (eGold) is the native token. Staking on MultiversX earns approximately 8-12% APY paid in EGLD. Users can stake directly or through liquid staking providers. The network uses a Secure Proof of Stake consensus, where validators are randomly selected each round from different shards to process transactions — this random selection prevents any single shard from being dominated by a malicious validator set.
Is EGLD legal in India?
Yes. EGLD qualifies as a Virtual Digital Asset (VDA) under Indian law. 30% tax on gains and 1% TDS applies. Always consult a tax professional.
🟡 A bit more detail
For when you want to go a little deeper.
MultiversX's DeFi and NFT ecosystem
MultiversX has a native DeFi ecosystem including xExchange (the primary DEX), Hatom (lending protocol), and an active NFT marketplace (xSpotlight). The network's high throughput makes it well-suited for NFT platforms and gaming applications where many small transactions occur. MultiversX has attracted several gaming projects and fintech applications in Europe. The xPortal app (formerly Maiar) provides a consumer-friendly wallet and payment app for MultiversX assets.
MultiversX vs other sharded chains
Sharding has been attempted by multiple projects (Ethereum's long-planned but delayed sharding, Near Protocol's Nightshade sharding, Harmony's sharding). MultiversX's adaptive state sharding is among the most implemented sharding approaches currently live on mainnet. Near Protocol also has working sharding. Ethereum's sharding plans evolved into a rollup-centric roadmap (with danksharding for data availability rather than execution sharding). MultiversX's sharding model works but hasn't achieved the mainstream developer adoption needed to fully validate the approach.
MultiversX has genuine technology and a working ecosystem, but it is smaller than leading L1s by developer count, TVL, and mainstream attention. The rebrand from Elrond to MultiversX (2022) coincided with a "metaverse" narrative that has since faded. Current ecosystem growth matters more than historical narratives. Live data: CoinGecko
🟣 The full technical picture
For the technically curious.
Key facts
- Token: EGLD (gas + staking, ~26.5M circulating supply)
- Previously: Elrond (rebranded November 2022)
- Architecture: Adaptive state sharding (3 shards + 1 metachain)
- Consensus: Secure Proof of Stake (SPoS)
- Mainnet launch: July 2020
- Staking APY: ~8-12% in EGLD
- DeFi: xExchange (DEX), Hatom (lending)
- NFT/App: xSpotlight (NFT marketplace), xPortal (consumer wallet/payments app)
- HQ: Romania; strong European developer community
Adaptive state sharding mechanics
In MultiversX's sharding: each shard maintains its own state (accounts, contracts, balances) and processes transactions in parallel with other shards. Cross-shard transactions (sending from an account in shard 0 to an account in shard 1) are handled via an asynchronous communication protocol — the transaction is initiated in shard 0, a cross-shard message is sent to shard 1, and the recipient balance is updated in the next metachain epoch. The metachain's role is to finalise shard blocks, coordinate cross-shard communication, and handle staking/validator management. Adaptive sharding means shard splitting or merging occurs automatically based on throughput demand, regulated by the metachain.