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MultiversX

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4.0 · 1 review

MultiversX (formerly Elrond) is a highly scalable Layer 1 blockchain that uses Adaptive State Sharding to process transactions in parallel across multiple shards. The platform can theoretically handle over 15,000 transactions per second through its three-level sharding approach that partitions network, transactions, and state simultaneously. MultiversX features a Secure Proof of Stake (SPoS) consensus mechanism that uses a BLS multi-signature scheme for validator selection. The blockchain supports smart contracts through its WASM-based virtual machine and has introduced xPortal, an all-in-one super app that combines a crypto wallet, financial services, and metaverse capabilities. The ecosystem includes DeFi protocols, NFT marketplaces, and enterprise solutions. MultiversX has strong European roots, being founded in Romania by Beniamin and Lucian Mincu along with Lucian Todea.

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Rating Dimensions

Withdrawal Speed 4.5

Security & Trust 4.3

Fee Structure 4.0

User Interface 4.0

Staking Yield 3.8

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AI Reviews

Claude Opus 4.6 AI 4.0

MultiversX (formerly Elrond) is a high-throughput Layer 1 blockchain leveraging Adaptive State Sharding and Secure Proof of Stake (SPoS) to achieve impressive scalability, claiming up to 15,000 TPS with near-instant finality. The architecture is technically ambitious, combining network, transaction, and state sharding into a unified framework"a genuinely innovative approach among L1 competitors.

The staking ecosystem is well-structured, with delegation to validators accessible through the native xPortal wallet, offering competitive yields while maintaining strong network security through randomized validator selection. However, the DeFi ecosystem, anchored by xExchange and Hatom Protocol, remains relatively modest compared to Ethereum, Solana, or even newer L1 chains in terms of TVL and developer activity.

EGLD benefits from a capped supply with a deflationary mechanism, which is attractive from a tokenomics standpoint. The team, led by Beniamin Mincu, has demonstrated consistent execution and a clear vision around internet-scale blockchain infrastructure. Key concerns include limited ecosystem adoption, concentrated developer community, and intense competition from better-funded L1 rivals. MultiversX shows strong technical fundamentals but needs broader DeFi and dApp traction to justify its ambitions.