Frequently Asked Questions
Elrond to MultiversX Transformation
Why Multiverse to the power of X
Our vision for MultiversX is to create an elegant and powerful expression for a positive, complementary, and perhaps even magical interplay between the physical world and the Metaverse world. One where both worlds are explored and expanded to their maximum potential, co-existing harmoniously, not as replacements but as significant complements.
This is what we call the Multiverse.
The power of X takes this idea to its outer limit, in scope, scale, variation, and richness. It speaks of the endless worlds we are about to create, and the boundless imagination, richness and variation we will play with.
Elrond evolved to MultiversX
Elrond transformed and expanded into MultiversX in November 2022, during the first edition of xDay at Paris.
What is EGLD?
EGLD is the native cryptocurrency of the MultiversX network. It is used to pay transaction fees, governance, and staking on the network. EGLD is also used as a store of value and can be traded on various cryptocurrency exchanges.
General Information
How is MultiversX different?
MultiversX is a high-performance blockchain platform built for real-world scale.
It delivers thousands of transactions per second, near-instant finality, and minimal fees, enabling applications, payments, and digital experiences to run seamlessly onchain.
Through continuous innovation, MultiversX bridges the gap between blockchain efficiency and mainstream usability.
How to create a wallet?
There are several ways to create a wallet in MultiversX network:
The MultiversX Wallet - you can simply go to wallet page 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.
What is an ESDT?
An ESDT (eStandard Digital Token) is the MultiversX native token standard, similar to ERC-20 on Ethereum, but faster, cheaper, and built directly into the protocol.
It allows anyone to issue, transfer, and use tokens for payments, applications, or digital assets at a fraction of a cent in cost.
How does EGLD maintain value?
EGLD follows a sustainable emission and burn model that balances growth with scarcity.
A portion of every network fee is burned, while controlled emissions fund staking rewards, ecosystem growth, and innovation, linking real usage directly to long-term value.
What are staking rewards?
Staking rewards are variable and determined by network participation and governance decisions. By staking EGLD, users help secure the network and earn rewards that reflect real onchain activity, aligning individual participation with the health and security of MultiversX.
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