MultiversX Egld Price USD

Elrond is a blockchain technology that uses sharding to achieve incredibly fast transaction rates. The project portrays itself as a fintech, decentralised financial, and Internet of Things technological ecosystem for the next internet. It claims that their smart contracts execution infrastructure can handle 15,000 transactions per second with a latency of six seconds and a transaction cost of $0.001.

The blockchain contains its own native token, eGold, or EGLD, which is used to pay network fees, stake, and reward validators.

Elrond was originally introduced in August 2019 and launched its mainnet in July 2020.

Elrond was created in late 2017 by brothers Beniamin and Lucian Mincu, together with Lucian Todea, to address the issue of blockchain scalability, which they saw as the most serious issue impacting the industry.

Before starting Elrond, Beniamin and Lucian Mincu launched MetaChain Capital, a fund for investing in digital assets, with Beniamin serving as the CEO and Lucian as the chief technology officer. Additionally, the two co-founded ICO Market Data, an information platform for initial coin offerings.

Elrond's key selling point is its great scalability, with the company claiming that it is the first blockchain network to include state, network, and transaction sharding. The economic paper for the project states that it plans to expand its ecosystem and produce EGLD as a store of value assets.

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