MultiversX
Crypto Overview
Purpose and Utility
MultiversX (formerly Elrond) is a blockchain platform designed to provide fast, secure, and scalable transactions through its unique Adaptive State Sharding mechanism. The EGLD token serves as the native currency for the MultiversX ecosystem, used for transaction fees, staking, and governance.
Business Model Assessment
The platform focuses on legitimate technological advancement in blockchain scaling and enterprise adoption. Their revenue model primarily comes from transaction fees and ecosystem growth rather than lending or interest-bearing products. The platform actively supports development of decentralized applications (dApps) across various sectors including DeFi, NFTs, and enterprise solutions.
Real-World Adoption
MultiversX has established significant partnerships with major organizations and governments, including the Romanian Government for digital identity solutions. The network processes millions of transactions, with over 3,200 validator nodes securing the network. Their DEX, Maiar Exchange, demonstrates substantial trading volume and utility within the ecosystem.
Platform Development
The project maintains active development with regular GitHub commits and ecosystem updates. The team consistently delivers on their roadmap, including the successful launch of their Maiar wallet, DEX, and various infrastructure improvements. The ecosystem includes hundreds of projects building on MultiversX.
Token Distribution
The initial token distribution allocated 19% to the team and advisors with a 4-year vesting period, demonstrating long-term commitment. The majority of tokens were distributed through public sale and ecosystem rewards. Current statistics show a well-distributed token supply across validators, stakeholders, and users.
Crypto Impact
To assign a comfort level investing in MultiversX from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to MultiversX.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.