How MultiversX network works in 3 steps

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How the MultiversX network works in 3 steps

MultiversX achieves scalability and robust security through the combination of the following three mechanisms:

Data sharing mechanism (sharding)

MultiversX uses Adaptive State Sharding, a feature that divides the network infrastructure to support the growing number of applications and transactions on the ledger. The MultiversX network combines three standardized sharing methods: network sharding, transaction sharding, and state sharding, to create a balanced and efficient system.

Network sharding: It dictates how network nodes are allocated and mapped into specific shards to optimize communication and message propagation within a shard.

Transaction sharding: It determines how transactions are assigned to shards where they will ultimately be processed. For example, a transaction can be assigned to a specific shard based on the sender’s address.

State Sharding: This is one of the most complex methods to implement, where each shard only holds a portion of the state. If accounts involved in a transaction reside in different shards, executing that transaction will require updating the state in both shards and involve exchanging messages between nodes in both shards. For better resilience to malicious attacks, shard nodes are programmed to be reshuffled from time to time. State sharing increases transaction throughput through parallel transaction processing while reducing transaction fees to $0.001 per transaction with a latency rate of six seconds.

MultiversX Proof-of-Stake (PoS) Algorithm

The MultiversX network has its own Proof-of-Stake (PoS) consensus algorithm called “Secure Proof of Stake (SPoS).” It uses three specific nodes (nodes can be servers/smartphones/computers) to relay and process data on the network using the MultiversX node client software. The three nodes are:

Validators: Functioning as primary nodes on MultiversX, validators process transactions on the network in exchange for EGLD. They add new blocks to the MultiversX blockchain, stake MultiversX EGLD tokens to process transactions, and participate in the consensus mechanism. Validators are rewarded for their service by the protocol.

Observers: Observers are passive members of the network who read and relay network information. They do not need to stake EGLD coins to participate in the network and are not paid for their services on the network. Observers can either keep the complete history of the blockchain or only keep two epochs of the blockchain’s history.

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Fishermen: Fishermen nodes verify block data and challenge invalid data once it has been processed by validator nodes. They are rewarded for detecting malicious actors on the network. Observers or validators not part of the current consensus cycle can fill the role of fishermen nodes.

The SPoS mechanism of the MultiversX network achieves high transaction throughput by selecting instant and random validators, thanks to blockchain sharding. Validation nodes are then randomly assigned to different shards, so each validator only needs to confirm the data held on their particular shard and not the entire data held on the blockchain.

Smart contracts on MultiversX

The MultiversX virtual machine (VM), or Arwen WASM virtual machine, was designed to build smart contracts on the MultiversX platform. It supports familiar programming languages like Rust, C/C++, C#, Go, Typescript that can compile Web Assembly smart contracts. The smart contract engine of the MultiversX VM is fully compatible with the Ethereum Virtual Machine (EVM). Ethereum smart contracts can run seamlessly on the Arwen WASM VM, which is also designed to ensure complete interoperability between external blockchain systems, allowing for the exchange of values and data between multiple blockchain protocols. Developers who use the Elrond network to build a smart contract can earn 30% of smart contract fees as royalties.

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In summary

Here’s how the MultiversX blockchain network works: nodes are divided into subsets to process transactions, and then shards broadcast these transactions to the “Metachain,” MultiversX’s central blockchain operating on a special shard.

The Metachain is responsible for finalizing transactions and performing tasks such as authenticating and finalizing shard block headers, facilitating communication between the different shards, maintaining a validator registry, triggering new epochs, processing challenges submitted by Fishermen nodes, and rewarding participants in the MultiversX blockchain.

Every 24 hours, one-third of the validation nodes from each shard are moved to a new shard to prevent collusion between validators in each shard.

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