About MultiversX
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MultiversX is a public blockchain that focuses on security, efficiency, scalability, and collaboration using two main features: Adaptive State Sharding and the new Secure Proof of Stake (“SPoS”). MultiversX’s blockchain protocol for contracts and dApps can process 30,000 transactions per second with short block times (6s), infinite transaction fees, and fast completion for market transactions within minutes.
MultiversX’s mainnet has been online indefinitely since July 2020 and can be used for the simple use of program funds and dApps, thus acting as the backbone of the open internet economy, with Unauthorized, unrestricted and accessible worldwide. MultiversX combines the following key innovations:
State distribution (transaction, data and network sharing); change from piecemeal to fragmented.
The Boneh–Lynn–Shacham (“BLS”) multi-signature agreement and communication. High stability against brute-force attacks thanks to refactoring of intra- and inter-shard gates.
Save random tags and BLS signatures. Smart contracts and shard architecture by state with load balanced across shards.
Fast completion for cross-shard transactions (seconds). MultiversX’s mobile app, xPortal, offers Internet users the first intelligent experience with blockchain technology, providing continuous security and a fun way to unlock more valuable features.
Who are the founders of MultiversX?
MultiversX was founded at the end of 2017 by brothers Beniamin and Lucian Mincu alongside Lucian Todea as a solution to the problem of blockchain scalability, which they believe is the most important thing facing the industry. Before MultiversX, Beniamin and Lucian Mincu co-founded MetaChain Capital, a digital investment fund, with Beniamin Mincu as CEO and Lucian Mincu as CTO. Both also supported ICO Market Data, the first coin to provide aggregate information.
Beniamin Mincu was also the head of product, marketing and community for the NEM blockchain platform from 2014 to 2015, in addition to being an early investor in projects such as Zilliqa (ZIL), Tezos (XTZ), Brave and Binance .
Lucian Mincu has further experience as an information technology engineer and security specialist, having worked with Uhrenwerk 24, Cetto and Liebl Systems. Lucian Todea is a technology entrepreneur who previously founded and served as CEO of Soft32, a software review and download site, and partner of mobilPay, a mobile payment app. He is also an angel investor, having invested in biometric technology company TypingDNA and the SmartBill platform.
How does MultiversX work?
According to the MultiversX crypto team, the project implements three types of partitions: state, transaction, and network, using a parallel processing system to speed up time and increase the number of transactions. MultiversX is a complete software that uses Adaptive State Sharding to share resources to support a growing number of applications/businesses. Different types of traditional PoS workflows ensure that all parts of the network are connected to the platform, separated during sharding. Therefore, this link is involved in the development of dApps, which simulate products and services.
The developers of MultiversX have combined three different methods to create their own unique exchange system. They divide the network into four shards: the third shard is the shard that processes transactions, making 5400 transactions per minute, and Metachain is the fourth shard that processes and completes transactions.
Types of partitioning include: State partitioning where network information, or state, is distributed across different network regions, or shards. Parts have their own names, nodes store the position of each part; Business sharing where transactions are listed locally and organized, departments organize transactions in the same way, and nodes hold the status of the entire network; Distributed networks are grouped together into segments and organized. Network chips help improve communication.
Advantages of MultiversX Blockchain
MultiversX provides a complete solution for segmentation challenges using its innovative technology. It does this by using:
Variable sharing enables dynamic network design. It guarantees high security while adapting to demand, making MultiversX one of the most powerful blockchains on the market.
A secure system of stakes that provides high throughput and fast execution while minimizing the risk of attack. Competitive
Benefits of MultiversX
Scalability: The network is one of the most powerful blockchain structures in the world, and sharding allows for a scalability of over 100,000 TPS. The network also has more than 3200 independent gateways spread all over the world, guaranteeing a high degree of freedom and security. Secure Decentralization: Transaction fees on MultiversX are extremely low at only $0.05/tx, making it an affordable option for users.
Environmental support: In addition, MultiversX has removed the full carbon footprint for each transaction, making it a zero-emissions blockchain network.
