Bitcoin was the first to introduce blockchain technology and prove that we could transfer ownership without the need for a trusted third party.

Ethereum was the second major iteration, adding a scripting language with smart contracts to the blockchain. But neither Bitcoin nor Ethereum has come anywhere close to the performance needed for using blockchain at scale in real-world settings.

MultiversX has rebuilt everything from scratch to bring a 1000x improvement in throughput, execution speed, and transaction cost.

Think of it like the transition the internet went through when switching from dial-up to broadband.

There are several ways to create a wallet in MultiversX network:

The MultiversX Wallet - you can simply go to https://wallet.multiversx.com/ and click on “Create a new wallet”. Then in following the next steps, you must save your 24 secret words and safely secure the phrase. Set up a password and you will receive a .json file in order to connect to your wallet using keystore.

xPortal Wallet - Click on “Create a new wallet”. After you input your phone number and confirm the code you will be able to set up a pin for your app, then you must save your secret phrase (24 words) and do the backup in Google Drive or iCloud in order to be able to do any type of transaction.

MultiversX DeFi Wallet - you can install the MultiversX Chrome extension and choose the “Create a new wallet” option. After storing your secret phrase, confirming it, and setting a password, your new wallet is ready to be used.

eStandard Digital Token (ESDT) is a general standard token of the MultiversX blockchain platform (MultiversX's version of ERC20), embedded in the protocol, that allows people to issue their own tokens using network advantages: fast, inexpensive to mint (0.05 eGLD) and transfer (0.00005 eGLD).