MultiversX price

EGLD

#97

Prior to MultiversX, Beniamin and Lucian Mincu co-founded MetaChain Capital, a digital asset investment fund, with Beniamin Mincu serving as CEO and Lucian Mincu as chief technology officer. The two also co-founded ICO Market Data, an aggregator of information around initial coin offerings.

Beniamin Mincu was also responsible for product, marketing and community for blockchain platform NEM 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 additional experience as an information technology engineer and security specialist, having worked with Uhrenwerk 24, Cetto and Liebl Systems.

MultiversX's native token was first made available for purchase through a private sale, in which 19% of its initial supply was sold, with 7.5% made available immediately upon token generation and another 15.41% released every three months. MultiversX also held an initial exchange offering on Binance, in which 25% was and made available immediately.

MultiversX's tokens were first issued on Binance Chain under the name ERD with a total supply of 20 billion. 500 million were burned in November 2019 and minted on the Ethereum blockchain as ERC-20 tokens, and the company a token swap event in September 2020 for token holders to swap their ERC-20 and BEP-2 tokens for mainnet EGLD tokens. During the process, the total token supply was reduced from 20 billion to 20 million by setting the swap ratio at 1,000 ERD for 1 EGLD.

MultiversX uses what it calls a secure proof-of-stake consensus algorithm in which nodes must stake their EGLD tokens to participate in the validation process, and each validator is assigned a rating score based on past activity, which also influences whether or not they are selected. If a validator's rating becomes too low, it will not be selected and must pay fines. Validators can also be removed from the network and have their stakes slashed if they continuously act in a manner that is against the integrity of the network.

EGLD can be purchased on cryptocurrency exchanges such as Binance, OKEx, Bitfinex and BitMax. It can be traded against fiat currencies such as the U.S. dollar and Indonesian rupiah, cryptocurrencies such as Bitcoin (BTC) and Binance Coin (BNB), and stablecoins such as Tether (USDT) and Binance USD (BUSD). It can be bought and sold on both spot and derivatives markets.

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