MultiversX (EGLD) Is the Technological Holy Grail of Crypto, Claims Cyber Capital's Justin Bons

Capable of exceeding 100k TPS now, as it has fully implemented sharding! After ETH & others gave up on this goal, EGLD came along & proved them all wrong!

Justin Bons, the Founder and CIO of investment fund Cyber Capital, recently shared his thoughts on what he believes is “the technological Holy Grail of crypto.” In a thread on X on August 5, Bons urged the cryptocurrency community to “wake up to this development” that is still fairly unknown.

According to Bons, MultiversX (EGLD) stands out by being the only cryptocurrency that fully implemented the sharding technology ahead of competing cryptocurrencies. As described, MultiversX is capable of exceeding over 100,000 transactions per second (TPS) right now, making it one of the most scalable blockchains to date.

“1/25) MultiverseX (EGLD) is the technological holy grail of crypto

Capable of exceeding 100k TPS now, as it has fully implemented sharding!

After ETH & others gave up on this goal, EGLD came along & proved them all wrong!

Come with me & explore the cutting edge of crypto: ?”

However, the investing expert explained that EGLD is not perfect, pointing out its economics and governance design. Bons believes they are not ideal from his perspective, mentioning other projects also working with different sharding architectures.

As a known critic of the modular scaling strategy with, for example, second layers, Bons highlighted the particularity of sharding in an earlier post. Notably, Bitcoin (BTC), Ethereum (ETH), and Polkadot (DOT) use this “Layer 2 scaling” strategy, while Vitalik Buterin himself praised sharding as the future of blockchain’s efficient scaling.

“9. Blockchains of the future with proof of stake and sharding will be thousands of times more efficient, and so the efficiency sacrifices of putting things on a chain will become more and more acceptable.”

Bons thread then got into technical details about MultiversX’s sharding and addressed cross-shard operations, which competitors often criticize. On that note, Bons explained that even less efficient cross-shard transactions are still more efficient than layered bridges.

Overall, the post highlights the benefits of sharding and MultiversX’s particular implementation that could lead the market into a new development, in his words, the cryptocurrency community should “wake up to.”

Alongside EGLD, Cyber Capital’s founder mentioned Radix (XRD), Toncoin (TON), Tezos (XTZ), and Near (NEAR), looking at sharding, although not yet fully implemented and battle-tested like MultiversX. Additionally, Solana (SOL), Aptos (APT), Sei Protocol (SEI), and Sui Network (SUI) are other layer-one blockchains delivering higher scalability.

“The future is bright. It will take time for more people to recognize the true power of these breakthroughs. EGLD serves as proof that we can, in fact, scale blockchains on-chain through sharding! Technologically, it is far ahead in terms of scaling, making it a key player. This is what makes EGLD so incredibly important to the entire cryptocurrency movement. Even though EGLD’s ecosystem & usage is tiny in comparison to major competitors.”

EGLD price analysis and growth potential

At the time of writing, MultiversX native token EGLD trades at $27.13, with nearly 12% in losses year-over-year. It shows a short-term downtrend from March’s local top of $74.71 and a mid-term downtrend from the $545 all-time high (ATH) in 2021.

This market data illustrates a poor price performance and low capitalization of around $740 million.

In this context, the crypto educator and MultiversX enthusiast DBCrypto posted a thread addressing the project’s so-far “unknown” state.

The content creator pointed out the comparatively low initial funding, with two rounds totaling $5.15 million raised. Conversely, most of EGLD’s competitors have raised over ten times that, he explained, at the expense of retail traders and the community. In June, Justin Bons described the crypto market as being “dominated by predatory VCs,” as Finbold reported, warning of this dynamic.

“1/ MultiversX is arguably the most advanced blockchain in the world ?

But a common question I have seen lately is:

“If it’s so good how come I haven’t heard much about it?

This is such a great question and one in which I have an answer for!

Read on ? pic.twitter.com/Z0DjIKY74S”

All in all, EGLD must first reverse these trends to look for long-term growth, which having the “Holy Grail” crypto technology can not guarantee will happen. Cryptocurrencies are highly volatile and unpredictable assets, even when backed by solid fundamentals.

Still, different experts acknowledge MultiversX’s potential to deliver a decentralized, secure,

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