Comparison of MultiverseX and ICP Nodes

Internet Computer Protocol (ICP) and MultiverseX (formerly Elrond) operate using nodes to ensure decentralization, but their approaches differ significantly in structure, governance, and permissioning.

In ICP, nodes are run by independent parties who must register and follow strict hardware guidelines. These nodes are distributed across different geographic regions, ensuring a diverse and decentralized network. These nodes collectively form subnets, which function like blockchain instances that process smart contracts and store data. This system is similar to sharding in other blockchains but is governed dynamically by ICP’s Network Nervous System (NNS). The NNS is a decentralized governance system that allows stakeholders to vote on proposals, manage network upgrades, and control the addition or removal of nodes.