Tokens and standards (ESDT, MEX)

EGLD is the native cryptocurrency powering the entire MultiversX ecosystem, acting like digital global cash. Let’s explore why EGLD is so crucial!

Key Features of EGLD

• Your Money, Your Control: EGLD gives you complete ownership over your funds, securely stored in your account and backed by cryptography. No middlemen—just you and your EGLD!
• Decentralized & Accessible: It’s open to everyone with an internet connection and a wallet. Truly global currency at your fingertips.
• Versatile for Any Transaction: With 18 decimal places, EGLD can handle transactions of any size—from tiny tips to major transfers.
• Direct Payments: With EGLD, transactions are as direct as handing someone cash—no intermediaries required.

But there’s more! EGLD also plays a vital role in securing the network: validators process and verify transactions, keeping everything running smoothly. 🎉

Fuel for the MultiversX Engine

EGLD covers all transaction fees, powers staking, and can even serve as collateral in DeFi applications, making it the go-to fuel for all network operations. For a deeper dive, check out the MultiversX documentation.

Intro to ESDT: MultiversX’s Swiss Army Knife of Tokens

Say hello to ESDT (eStandard Digital Token), the ultimate toolkit for tokens on MultiversX! ESDT supports fungible, semi-fungible, and non-fungible tokens (NFTs), so whether you’re creating a unique digital collectible or a common in-game currency, ESDT has you covered.

What Makes ESDT Awesome?

• No Need for Smart Contracts: Unlike other tokens, ESDTs don’t require a dedicated smart contract to handle transactions, meaning they’re faster and cheaper to send—just like native EGLD!
• Seamless Across Shards: MultiversX handles all the complexities, so you don’t need to worry about which shard your tokens are on. It’s all smooth sailing.
• Multi-Token Accounts: ESDTs are stored right in your account’s data, so you can hold multiple token types alongside EGLD in one place.

Developers love ESDT’s flexibility! You can issue tokens for a game, manage loyalty points, or even create NFT collections. Plus, ESDTs are ready for smart contracts, allowing decentralized apps to interact with them smoothly and efficiently.

Want to learn more? Check out the MultiversX docs for all the details!

Reference: https://docs.multiversx.com/tokens/intro