Jakarta MultiversX is a blockchain protocol that aims to provide super-fast transaction speeds using hashing. The project describes itself as a technology ecosystem for the new Internet of Things, including financial technology, decentralized finance and the Internet of Things.
According to Coinmarketcap, MultiversX will reward active communities and participants in EGLD Coin crypto tokens.
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EGLD Coin or Electronic Gold is the original cryptographic token belonging to the Elrond blockchain. It serves as a store of value currency to pay for network usage.
Coins also serve as a medium of exchange between platform users and validators. Users pay transaction fees with EGLD coins, and validators provide services.
Founder of MultiversX
MultiversX was founded in late 2017 by brothers Beniamin and Lucian Mincu along with Lucian Todea as a solution to the most pressing problem facing the industry: blockchain scalability.
Prior to MultiversX, Beniamin and Lucian Mincu founded MetaChain Capital, a digital asset investment fund, with Beniamin Mincu as CEO and Lucian Mincu as CTO. The two also founded ICO Market Data.
Uniqueness of MultiversX
MultiversX describes itself as a blockchain platform for the new internet economy, decentralized applications and enterprises. Its main selling point is its high scalability, indicating that it is the first blockchain network where state, network and transaction hashes are all implemented.
According to his economic thesis, he intends to build his own ecosystem and establish EGLD as a warehouse for valuable assets.
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