MultiversX (EGLD)USD

MultiversX is a sharded smart-contract blockchain designed for high-throughput transactions and decentralized applications. The project was originally founded as Elrond by Beniamin Mincu and the Elrond team around 2017, then rebranded to MultiversX in 2022. The Elrond mainnet launched in 2020, and EGLD became the primary native asset after a swap from the earlier ERD token. MultiversX uses Secure Proof of Stake, a Byzantine-fault-tolerant consensus mechanism that combines stake-weighted validator selection, verifiable random function-style randomness, and BLS multi-signatures to achieve single-block finality across a sharded architecture. The native token, EGLD (also called MultiversX eGold), has three main functions: paying transaction and smart-contract fees, staking to run validator nodes or delegating to staking providers, and voting on governance proposals for network upgrades. EGLD has a capped maximum supply of 31,415,926 tokens. The initial mint was 20,000,000, with additional issuance spread over roughly ten years until the cap is reached. After that, no further tokens are created. EGLD is the unit of account and computational fuel for the MultiversX network.