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Multiversx

Why you should stake EGLD

By 6 September 2023January 25th, 2024No Comments

Introduction

In the ever-evolving landscape of blockchain technology, MultiversX (formerly Elrond Network) stands apart as a groundbreaking Layer 1 (L1) blockchain solution. With its remarkable features, including high scalability, robust security, and decentralisation, MultiversX are leaders in the blockchain space. As a staking provider, we at Helios are excited to guide you through the unique opportunities and advantages that this innovative blockchain offers.

The MultiversX Ecosystem: A Hub of Innovation

At the heart of MultiversX’s success lies its extensive ecosystem of decentralised applications (dApps) that have flourished on this cutting-edge network. These dApps harness the low costs and blazing-fast transaction speeds that MultiversX offers, making it a preferred choice for developers and users alike.

EGLD: The Native Powerhouse

EGLD, the native currency of MultiversX, plays a pivotal role in powering the network. Its unique tokenomics, outlined in the EGLD Economics Paper, offer compelling incentives to delegators. Whether you are a validator or a delegator, EGLD plays a central role in your journey within the MultiversX ecosystem.

Secure Proof-Of-Stake Consensus

MultiversX employs a Secure Proof-Of-Stake (SPoS) consensus mechanism, a design that strikes a remarkable balance between high throughput and decentralisation. This consensus mechanism enables MultiversX to process tens of thousands of transactions per second without compromising on its decentralised essence. In a world where blockchain scalability is often a bottleneck, MultiversX shines.

Sharding for Scalability

To further enhance its scalability, MultiversX has implemented sharding, a technique that breaks down the blockchain into smaller interconnected blocks. This architectural innovation allows for parallel transaction processing, significantly increasing MultiversX’s capacity to handle high volumes of transactions while keeping transaction fees low and maintaining the utmost security and decentralisation.

Reliability Since Mainnet Launch

MultiversX has proven its reliability since its mainnet launch in July 2020. With zero downtime to date, it has earned the trust of users and developers alike. This rock-solid foundation is a testament to MultiversX’s commitment to providing a stable and secure environment.

Delegators and Validators: A Dynamic Partnership

MultiversX boasts an impressive network of 3200 active validators who, along with their delegators, play a pivotal role in validating, finalizing, and adding new blocks to the chain. To own and run a validator node, a minimum commitment of 2500 EGLD and substantial infrastructural commitment is required. However, MultiversX’s unique ecosystem also offers opportunities for everyday users to participate in the validation process and earn rewards through delegation

Helios: Your Gateway to Delegating with Ease

At Helios, we take pride in offering among the most competitive fees in the MultiversX validator space, aligning with our core value of financial inclusion. Delegating EGLD to Helios Staking is a simple and accessible process through the xPortal App or the MultiversX Web Wallet, and it allows you to start earning EGLD daily by staking as little as 1 EGLD. We are happy that anyone has the opportunity to participate in joining the MultiversX ecosystem by staking EGLD and reaping the rewards.

An Expanding Ecosystem

As MultiversX continues to grow, a vast network of builders and dApps is emerging within its ecosystem. This expansion brings forth a multitude of opportunities for developers, entrepreneurs, and investors to contribute to and benefit from this thriving blockchain community. You can explore the full ecosystem map here.

Conclusion: Unlocking the Potential of MultiversX together

MultiversX, with its unique solutions to the trilemma of scalability, security, and decentralisation, has redefined what a blockchain can achieve. As a staking provider, Helios is committed to helping you navigate the blockchain and cryptocurrency space. MultiversX and EGLD staking offers an exciting opportunity to earn rewards and actively participate in the future of blockchain technology.

Join us in this journey of innovation and financial inclusion with MultiversX, and together, to join us in exploring the boundless potential of this groundbreaking blockchain.