Understanding MultiVAC - Can it Moon?

Understanding MultiVAC - Can it Moon?

By Saikartix | Understanding _Crypto | 19 Jan 2022



MultiVAC - is a next-generation high-performance  blockchain for industrial-scale decentralized applications. Its sharding technology allows for unlimited and sustainable scalability, and it provides a novel approach towards solving the blockchain scalability problem currently preventing mainstream blockchains from reaching industrial capability.

 

Sharding- What does it mean? 80b6ece8726d8f65f85128db16e94602d6727e6ad7501bafb3946dc8dec08040.jpg

Sharding is just like metal shards, Little bits of data, it divides the nodes into small shards which work independently. Effectively reducing costs and scalability issues. 

Working:

You can mine MultiVAC,  it works on  a classic UTXO (Unspent transaction output model) with miners dynamically selected through a probability model, just like bitcoin but faster and way more efficient. 

It vies to be superior in security unlike Zilliqa and Dfinity which are less secure. EOS abandon decentralization to solve scalability issues and performance  using supernodes.

The Consensus Mechanism:

The Consensus Mechanism used here is known as VRF (verifiable random function).

This mechanism is very complex and finding the next person/miner who will be awarded is very random. 

Also 51% attacks won't work here because of the consensus mechanism.

Datastorage: 

As  overall blockchain data generated per year would cross 10 TB , it's not possible to store info on PC's so  Supernodes/ shard storages are required. Hence decentralised cloud storage services like SIA and Filecoin , Maidsafe etc come into play. 

MultiVAC supposedly solves three  problems:

  • To create shards from network nodes for transaction and smart contract processing in a
    trustworthy manner, allowing the network to scale.
  •   To process transactions and update records using trusted shards in the use case of transaction processing.
  •  To verify the correct and honest execution of smart contract processing.

I think MTV is a solid project with good fundamentals. Always DYOR before investing in a coin.

You can buy it from KuCoin, PancakeSwap, Gate io, to name a few.

Better buy from decentralized exchanges because withdrawl fee are very low but if you are new to cryto use Centralised exchanges to avoid losing money.

 

 

 

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Saikartix
Saikartix

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