MultiVAC

From CryptoCurrency Wiki

Basics

  • Started in:
  • Mainnet release:
  • Based in:

"The team describes it as “A high-throughput flexible public blockchain based on trusted sharding” and they outline their intentions to provide an innovative solution to the problem through their proposal of a trusted sharding model for transactions, computation as well as storage on a Blockchain. In contrast to traditional blockchain systems in which typically the processing power of a miner is going to be a major bottleneck, MultiVAC’s model allows nodes to accumulate their transaction power to give, what they claim to be “scalability without limit”.

History

Token

ICO

Token allocation

  • Can be found here (25-10-2019), they have burned some of their foundations tokens and the team and foundation now together own less than 22% of the tokens.

Utility

"The MultiVAC native token (MTV), provides the means of transacting value within the ecosystem. The token incentivizes computation and storage nodes to contribute resources toward computation, storage and data transmission. Nodes that contribute to both storage and computation receive higher rewards.|

Token Details

Stablecoin

Tech

"MVM currently supports C compilation based on LLVM, with the aim to eventually integrate other languages such as Java and Go. As MultiVAC will become an open-source ecosystem, the ultimate goal is to incorporate as many languages as possible for backwards-compatibility with existing applications."

Transaction Details

Other Details

"MultiVAC operates on the MultiVAC Virtual Machine (MVM), which includes the Blockchain Instruction Set Computer (BISC). The BISC is the key feature of MVM that allows developers to decide how many nodes are required for each dApp, selecting a large number for better security and a smaller number for higher throughput."

Consensus Algorithm

"One of the unique features about MultiVAC is the flexibility it provides. This allows the DApp designers to decide on their own about the tradeoff between decentralization, scalability and secure rather than them having to stick to whatever the underlying platform provides.

Secondly, the sharding solution proposed by MultiVAC is unique in that it considers the three “dimensions” of smart contract computation, storage, as well as the transmission of data on a blockchain, holistically. In practice, this will give a significantly greater degree of scalability compared to the other solutions out there at the moment.

Other key features include Verifiable Random Functions (VRFs), its Proof of Instruction Execution (PoIE) and Data Storage. VRFs bring a probabilistic model with which the network can randomly select aspects such as which node gets to sign a block and which shard is selected, PoIE eliminates the need for every line of code in a smart contract to have to execute on all nodes and uses the physical discrepancy between computation and storage in modern computers to penalize malicious behavior and ensure security and efficiency

We asked MultiVAC's CEO Frank Lyu why he believes MultiVAC will stand out among its competitors; "For example, in October, we released the lab data, proving TPS peaks at 30,784 with 64 shards; In November, we updated the demo video of MultiVAC testnet, and the testnet is planned to be launched in Q 1, 2019.""

"For data storage and retrieval, MultiVAC employs a mechanism based on both Hash and Merkle Roots, in addition to a sharded storage network based on the native VRF model. MultiVAC storage nodes only contain block header information, maintaining the full transaction input and output in the distributed storage network.

MultiVAC utilizes a Proof of Instruction Execution (PoIE) consensus mechanism, which verifies honest computation in a way similar to proof of replication. The PoIE consensus algorithm is directly embedded into MVM, verifying each executed instruction. When an instruction sequence with sufficient gas is completed and verified, the node will issue the computational results through the consensus mechanism and will receive a gas reward.

The basic logic of PoIE is that all nodes running on the network contribute a high amount of computational resources through hashing and randomized data processing, making it costlier from the perspective of nodes to act maliciously than in the interests of the network."

Staking

Privacy Method being used

Oracle Method being used

Their Other Projects

DEX

Governance

DAO

Upgrades

Roadmap

  • Can be found [Insert link here].

Audits

Bugs

Usage

Projects that use or built on it

Pros and Cons

Pros

  1. "Novel approach to sharding that includes storage and data transmission features
  2. Team has accomplished track record with big tech companies
  3. Focus on developer customization leaves open a wider array of use cases"

Cons

  • Has loads of contenders
  1. "Product development still in early stages
  2. Competing protocols have timing advantage
  3. No partnership announcements yet"

Competition

Coin Distribution

Team, Funding, Partnerships, etc.

Team

  • Full team can be found [here].
  • Frank Lyu; CEO

Funding

=== Partners ===