Multiversx

What is MultiversX?

​

MultiversX is a high-performance Layer 1 blockchain protocol designed to support scalable, secure, and decentralized applications. Formerly known as Elrond, it employs innovative technologies like Adaptive State Sharding and a Secure Proof of Stake (SPoS) consensus mechanism to achieve high throughput and low latency, making it suitable for a wide range of use cases, including decentralized finance (DeFi), non-fungible tokens (NFTs), and the metaverse.

​:contentReference[oaicite:3]{index=3}

Core Technologies

• Adaptive State Sharding: MultiversX utilizes a dynamic sharding approach that partitions the network into multiple shards, each capable of processing transactions and smart contracts independently. This design enables parallel processing and scalability, allowing the network to handle up to 263,000 transactions per second in testing environments. :contentReference[oaicite:4]{index=4}
• Secure Proof of Stake (SPoS): The SPoS consensus mechanism enhances security and efficiency by selecting validators based on a combination of stake and rating, ensuring rapid finality and resistance to malicious actors. :contentReference[oaicite:5]{index=5}
• WASM-Based Virtual Machine: MultiversX's virtual machine supports smart contracts written in multiple programming languages compiled to WebAssembly (WASM), providing flexibility and performance for developers. :contentReference[oaicite:6]{index=6}

​:contentReference[oaicite:7]{index=7}

Native Token: EGLD

EGLD (eGold) is the native token of the MultiversX network. It serves multiple purposes, including transaction fees, staking, governance, and smart contract execution. Users can stake EGLD to secure the network and earn rewards, while also participating in governance decisions to shape the future of the protocol. :contentReference[oaicite:8]{index=8}

​:contentReference[oaicite:9]{index=9}

Integration with Cryptoworth

MultiversX integrates with Cryptoworth to provide users with enhanced financial clarity in their digital asset accounting workflows. Through this integration, users can efficiently track, categorize, and report their EGLD transactions, ensuring accurate financial reporting and compliance with accounting standards.

​:contentReference[oaicite:10]{index=10}

Getting Started with MultiversX

1. Set up a compatible wallet that supports EGLD tokens.
2. Acquire EGLD tokens through supported exchanges.
3. Stake EGLD to participate in network security and earn rewards.
4. Explore and interact with decentralized applications built on the MultiversX network.
5. Utilize Cryptoworth to monitor and manage your EGLD holdings for streamlined accounting and reporting.

​:contentReference[oaicite:11]{index=11}

For more information, visit the MultiversX website.

Frequently Asked Questions

1. How are EGLD rewards tracked for accounting purposes?

Staking EGLD produces reward income that must be properly categorized and valued. Cryptoworth structures this activity into reconciled financial records and supports staking-based reporting.

2. Is cost basis tracking available for EGLD trades?

Yes. Whether EGLD is earned, traded, or restaked, Cryptoworth tracks acquisition price and fair value across time. Get precise cost basis tracking for high-volume assets.

3. Can DAOs or developers on MultiversX benefit from Cryptoworth?

Definitely. From multi-wallet fund tracking to monthly reporting, Cryptoworth supports DAOs, developers, and treasury teams building on MultiversX. Learn more about our audit tools.