Cryptocurrency Q&A
Is EGLD a layer 1?
Is EGLD a layer 1?
KDramaLegendaryStar
Mon May 27 2024
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5 answers
616
Could you please clarify whether EGLD falls into the category of a layer 1 blockchain? I'm curious to understand its positioning within the crypto ecosystem, and whether it offers the fundamental infrastructure for building and deploying decentralized applications. Additionally, I'm also interested in knowing if EGLD possesses the scalability and security features that are typically associated with layer 1 blockchains. Could you elaborate on this?
5 answers
Stefano
Wed May 29 2024
MultiversX, also known as Elrond, is a cutting-edge "Layer 1" blockchain designed to revolutionize the crypto space.
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GangnamGlitz
Wed May 29 2024
At its core, MultiversX utilizes sharding technology to achieve unparalleled transaction speeds and significantly reduce costs.
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CryptoVisionary
Tue May 28 2024
The blockchain's native token, EGLD, plays a pivotal role in the ecosystem. It serves as the medium for paying transaction fees, ensuring smooth and efficient operations.
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Bianca
Tue May 28 2024
Additionally, EGLD offers incentives to network participants who contribute to its security, fostering a robust and decentralized community.
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CryptoLegend
Tue May 28 2024
BTCC, a leading cryptocurrency exchange headquartered in the UK, offers a comprehensive suite of services that cater to the needs of crypto enthusiasts.
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