MultiversX (prev. Elrond)

mission & key concepts

Scale across the Multiverse. Build new apps, new economies, new worlds.

MultiversX is a highly scalable, secure and decentralized blockchain network created to enable radically new applications, for users, businesses, society, and the new metaverse frontier.

The mission is to:

• create a global, transparent, near-instant, non-inflationary financial system
• give anyone, anywhere, easy access to it.

Built to Scale

MultiversX is built from first principles, to solve the two fundamental problems critical for widespread, global adoption: a transition from dialup to broadband, and a significant UX paradigm shift.

Current Challenges

New focus:

• xFabric. Sovereign blockchain module, and core blockchain applications. Deployable in minutes. Fully customizable. Including a great set of features and use cases for any creative, brand, or company.
• xPortal (coming soon). The portal to the Metaverse. The home of your avatar. Everything finance. A debit card. Friends, chat and social. Accessible to anyone, anywhere in the world.
• xWorlds. A world creation engine. A network of interoperable metaverses. The very first Metaverse planet of this new world.

For 3 years we've been building a powerful solution to address the first part of the mission. The solution is a high bandwidth, low latency, high security, low-cost blockchain network, that can accommodate transactions and value exchange at the internet scale.

Top priorities:

1/ Provide adaptive state sharding

The optimal approach to blockchain sharding needs to take into consideration advantages from all three sharding types: State, Transactions & Network. Our approach to increased throughput, called “Adaptive State Sharding”, combines all three sharding types into a solution that improves communication inside the shards and dramatically increases performance through parallel processing.

2/ Run secure proof of stake smoothly

MultiversX has proposed a novel approach to consensus called “Secure Proof of Stake” which eliminates PoW computational waste, and combines eligibility through stake and rating with random validator selection, and an optimal dimension for the consensus group. The BFT-like consensus protocol maintains a high security level through random sampling of the consensus group, and random reshuffling of nodes into other shards. The consensus uses an unbiasable randomness source generated by the block proposer via signing the previous random source.

3/ Develop and empower own VM

It is a dedicated smart contract execution engine built on WASM. It expands the family of languages available to smart contract developers to include Rust, C/C++, C#, Typescript. This means you can write smart contracts in whichever language you’re familiar with, compile it of WASM and easily debug its WAT human readable format.

4/ Fill the EGLD Token with a real value

The EGLD token is a unit of value that is native to the MultiversX network. It represents a medium of exchange between users & developers who pay to use the network and validators who take the fees as payment for the services they provide.

5/ Grow the community, increase the awareness among users, clients and partners

Culture

We think every successful initiative is the result of a tremendous team effort from a passionate, focused, and forward-thinking group of individuals.

If you care deeply about what we're building and think you are a great fit, we'd love to hear from you. MultiversX is always looking for people with relentless drive, high energy and exceptional ability.

History & Achievments

Founded: 2018

Headquarters: European Union, Romania

Funding:

• MultiversX has raised a total of $1.9M in funding over 2 rounds. Their latest funding was raised on Mar 31, 2022 from a Secondary Market round.
• MultiversX is funded by 9 investors. Skynet EGLD Capital and Binance Labs are the most recent investors.

Invetments:

• MultiversX has made 5 investments. Their most recent investment was on Oct 5, 2022, when Improbable raised £88M.
• MultiversX has acquired 2 organizations. Their most recent acquisition was Utrust on Jan 11, 2022.

The MultiversX blockchain can process above 15.000 transactions per second, with 6-second latency, and $0.001 transaction cost. This will radically transform the way we exchange value, just as broadband internet transformed the way we communicate.

Adding value to that, we have announced more than 60 collaborations and partnerships to aggressively expand the ecosystem, adding significant utility, increasing outreach, and enabling applications to leverage the MultiversX technology.

Technical Roadmap

MultiversX network is on track to deliver the most scalable, fast and secure blockchain platform for real world applications, bringing a 1000x improvement compared to blockchains such Bitcoin or Ethereum.

• Q2 2018

The technical paper

• Q3 2018

Prototype Launch

• Q4 2018

Code open source

Whitepaper update

• Q1 2019

Testnet v0.5

initial results

• Q2 2019

Private testnet launch

Consensus & cryptography

optimizations

Explorer & wallet

• Q3 2019

Public testnet launch

IELE VM integration

CryptoBubbles dApp launch

• Q4 2019

Battle of Nodes testnet event

New Website & Vision

Bootstrapping Phase 1:

Secure PoS Economy launch

50% Circulating supply staking target

Prestaking in multiple waves

• Q1 2020

Economic & Governance Model

App in Samsung dApp store

• Q2 2020

Bootstrapping Phase 2:

Genesis block

Select validator program

Native Wallet

• Q3 2020

Bootstrapping Phase 3:

Progressive feature activation

DeFi initiatives

Economics v2

• Q4 2020

Smart Contracts

Staking: direct & delegation

Development Toolkit

• Q1 2021

Maiar launch

Maiar: staking

• Q2 2021

ESDT token

dApp core components

Maiar Login

Staking Phase 3.5

• Q3 2021

Maiar Exchange: DEX AMM

Maiar DeFi Wallet

• Q4 2021

Maiar App new features

Maiar Launchpad

• Q1 2022

Web3 Payments

Maiar DeFi Wallet

Metastaking

• Q2 2022

Metabonding

SuperWave

Ad Astra Bridge

Jungle DEX

• Q3 2022

Growth 2.0

Gamify

Staking Phase 4

NFT Marketplace

Multisig for DAO

• Q4 2022

Maiar App 2.0

DeFi 2.0: Lending & Synthetics

Merchant Yield

Conference

• Q1 2023

Strategic Multi-country hypergrowth

Onchain governance

Core Team

• Beniamin Mincu - Co-founder and CEO
• Lucian Mincu - Co-founder and CIO
• Lucian Todea - Co-Founder and COO

Benefits

• Flexible working hours
• Start-up atmosphere where everybody is agile without being AGILE
• The opportunity to create something really meaningful that will be used by millions of people
• Competitive salary
• Fast, dynamic & unique working environment