MultiversX (EGLD)

Lucian Mincu, Beniamin Mincu, and Lucian Todea established Elrond in 2017. The cofounders use the broadband and dial-up connection comparison in describing the kind of technology that Elrond offers. Broadband connections significantly improved bandwidth and therefore also improved speed and efficiency for users. Elrond does the same, especially when compared with previous blockchains. The platform facilitates more transactions and is better able to handle the demands of decentralized apps. The Elrond architecture has the following components: Validators – refers to those who manage block generation and consensus building. Users deploy the signed transactions for smart contracts execution, while nodes refer to devices or computer that are running on the network and handling tasks. eGLD tokens – this is what’s used to pay for processing transactions, dapps deployment, storage fees, and rewards. Shards – this refer to Elrond’s sharding system units. The Elrond community is composed of Ambassadors (they develop the ecosystem), Investors (helps make the future happen), and the Makers.