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MultiversX is a distributed blockchain network for next-gen applications. Decentralized via 3,000+ nodes, scalable through sharding, fast, secure & and green.
State Sharding Approach- effectively partitioning the blockchain and account state into multiple shards, so that each node of the network would only need to process a fraction of all the transactions. The account address space is divided into shards using a binary tree. This helps to reduce latency and network liveliness.
Secure Proof of Stake consensus mechanism: an improved variation of Proof of Stake(PoS) that ensures long-term security and distributed fairness, while eliminating the need for energy-intensive PoW algorithms. Each node in the shard is allowed to determine the members of the consensus. The random committee selection in Algorand takes 12 seconds, in MultiversX the time necessary for random selection is reduced to 100 ms.
The MultiversX WASM VM is an exceptionally fast virtual machine for executing smart contracts written in any programming language that can compile to WebAssembly. It executes code using Wasmer as an execution engine. Due to the design of Wasmer, the smart contracts are executed at near-native speed.
Highlights:
- Performance: 30,000 current TPS
- Block time- 6s
- Transaction cost- $0.001
- Nodes- 3200
EGLDUSD gained more than 10% in the past two days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $57.05 and is currently trading around $55.85.
The bullish invalidation can happen if the pair closes below $44. On the lower side, the near-term support is $50. Any break below target $45. Any breach below $44 targets $38/$30.
The immediate resistance stands at around $62. Any breach above confirms bullish continuation. A jump to $70 is possible. A surge past $70 will take it to $78.
It is good to buy on dips around $46-47 with SL around $38 for TP of $62/$70.
