PARIS, Nov. 4, 2022 /PRNewswire/ — Elrond, the startup building internet scale blockchain technology, announces its transformation into MultiversX. The company thus expands its mission of building the new internet economy to include the digital meta-space frontier.
The metaverse-forward company introduces three new products as the pillars for its evolution.
- xFabric is a sovereign blockchain module, and core blockchain applications. Deployable in minutes. Fully customizable. Including a great set of features and use cases for any creative, brand or company.
- xPortal is a true SuperApp. The portal to the Metaverse. The home of your avatar. Everything finance. A debit card. Friends, chat and social. Accessible to anyone, anywhere in the world.
- xWorlds is a platform developed in partnership with Improbable enabling unprecedented new experiences deeply integrated with xPortal and xFabric.
“Incredible amounts of creative energy are being poured into multiple compelling metaverse visions.” said Beniamin Mincu, CEO and founder of MultiversX (formerly Elrond Network). “MultiversX is building the collaborative framework and composable toolkit to set up the stage for a positive sum game of enormous stakes. For reimagining the entire spectrum of human experience and for reinventing the frontend of every business vertical.”
MultiversX will continue to build on the remarkable success of the Elrond Network, technology, community, and ecosystem. It will continue to advance the groundbreaking scalable blockchain protocol and tools on the mission of proliferating Web3 technology.
Furthermore, it will expand and broaden the original scope and create the unique opportunity for its millions of users and vibrant ecosystem to lead the once-in-a-generation societal shift towards the metaverse.
The momentous transformation will unfold over a 3 day event at the Brongniart palace in Paris, where Jean-Noel Barrot, French Minister for Digital Transition and Telecommunications, Sebastian Burduja, Romanian Minister of Research, Innovation, and Digitalization, and important Industry leaders from finance, blockchain, Web3 and the Metaverse, will be introduced to the broadened MultiversX scope, products and path forward.
Elrond (now Multivers X) is a new blockchain architecture designed from scratch to bring a 1,000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism.
Dan Voicu, Head of Communications
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