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What is MultiversX coin? How does MultiversX coin work?

王林

Mar 15, 2024 pm 06:04 PM

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What is MultiversX coin? How does MultiversX coin work?

MultiversX: The bridge connecting reality and the metaverse

MultiversX is a blockchain platform formerly known as Elrond. Its goal is to build a bridge between the real world and the metaverse. connect. The platform provides a wide range of tools and services that enable developers to easily create and launch dApps, Metaverse experiences, and smart contracts. MultiversX's mission is to advance the development of decentralized technology and provide users with a seamless digital experience that blends the real and virtual worlds. Through its innovative methods and functions, MultiversX is committed to creating a more open and free digital future for users.

Working Principle

MultiversX is based on sharding technology, which divides the network into multiple small parts to process transactions in parallel. This approach helps the network efficiently handle large volumes of transactions while maintaining low latency and high throughput.

MultiversX uses a consensus mechanism called Secure Proof of Stake (SPoS), which is selected based on the number of EGLD, the native token of MultiversX, held by validators. The responsibility of the validator is to verify transactions and add them to the blockchain.

Main Features

Maiar Wallet: A user-friendly wallet for storing, sending and receiving EGLD tokens.
Maiar DEX: A decentralized exchange for trading EGLD tokens and other digital assets.
Metaverses SDK: A software development kit for creating and deploying Metaverse experiences.
Smart Contract: A programming language that allows developers to create executable code on the blockchain.
Bridge: Allows MultiversX to interact with other blockchains such as Ethereum.

Use Cases

Use cases for MultiversX include:

Metaverse Experiences: Create and deploy immersive Metaverse experiences such as virtual worlds, games, and social space.
Decentralized Finance (DeFi): Develop DeFi applications such as lending platforms, stablecoins, and decentralized exchanges.
Supply Chain Management: Track and manage your supply chain to increase transparency and efficiency.
Identity Management: Create a decentralized identity system that gives users control over their personal data.
Games: Develop blockchain-based games that offer unique experiences and digital asset ownership.

MultiversX is constantly evolving to become the key platform connecting the real world and the Metaverse. Its unique technology and wide range of use cases make it ideal for developers and users exploring the future of blockchain and the Metaverse.

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