We are all people and we are all know what is VISA and how it works. But also we know that sometimes it isn’t work as fast as we want. For example if we want to make interbank transfer or to transfer our money abroad we need to wait 1-3 days or even more. And i even not mentioned about terrible bureaucracy through which we have to pass.
Fortunately many banks all over the globe began to use blockchain technology in their work, for example among the first countries are Singapore, India, UAE, South Korea and Singapore. No doubt it is right solution for all. But what blockchain they should to choose? Bitcoin? Ethereum? Ripple? Neo? Or maybe something absolutely new and unique? Something like Multiversum blockchain 4.0?
I think it is really must be something new because all existing blockchains mentioned above already proved their inability to work in the real market and give the private and public sectors of the economy a really working, fast, reliable, cheap and easy-to-use technology of the future, so that they moved away from the already outdated VISA/MasterCard technologies.
So, what is Multiversum is and why it is the truly next generation of blockchain?
Multiversum offers complex data organization instead of data sequencing, chain splitting and rejoining to allow for greater scalability and parallelism, and the concept of Proof of Integrity validation (i.e. cryptographic proof of server code) instead of existing Proof of Work or Proof of Stake solutions. Furthermore, Multiversum will feature ERC20/ERC23 integration, allowing coins and tokens from other solutions to be hosted on their chain and vice-versa, with notary services as an external confirmation method. Meanwhile, together with these innovations, they are certainly going to make use of several good solutions that their colleagues already implemented over time.
Multiversum is an advanced blockchain technology which offers peculiar features to solve the inconveniences the previous generations are rife with. Its crypto-validation and distribution techniques are perfect for whatever environment, be it administrative or industrial or financial or governmental.
Multiversum allows the creation of a relational Crypto Database which is a seriously advanced and organized data storage solution in place of the present simple data model. It can process not just a particular type of data, but a series of data categorized in graphs of intricate data structures related on to another.
About other benefits and features you can read in the project whitepaper, i will provide the link under this post. But i feel that i must say at couple words about transactions speed, today it is most popular characteristic of new scaleable blockchains among crypto investors. So, in less than 0.2 milliseconds, transfers are confirmed. Exactly that is promised, but will it work we could know only after alpha release of the platform.
And i will list the main advantages of Multiversum, there are:
Achievement of a Crypto Relational DB with self-validating Complex Data Structures
Divisible / re-joinable chains based on current system workload (Parallel Work)
Data Sharding (Parallel Work)
Advanced API offering
Rollback (User Security)
Freezable wallets (User Security)
Integration of biometric data as seed for the Electronic Signature
ERC23 interface (Interoperability with other blockchains)
Native off-chain adaptors for its own ERC20/ERC23 (Interoperability with other blockchains)
Native off-chain adaptors for ERC20/ERC23 guests (Interoperability with other blockchains)
Proof of Integrity (Protocol Innovation)
Double Access Lock (Structural Security)
Reverse Access Denial (Structural Security)
Reciprocal Chain Confirmation (Interoperability with other blockchains)
Integration for Java, Spring and Javascript
ACID model 1
Transactional Model
SQL-like language
Detailed information about all of them can be found in the project whitepaper.
Further, relying on the coinmarketcap.com we already have more than 1500 different cryptocurrencies but absolutely no one before Multiversum has used such ambitious and unique approach.
Multiversum have been created for any sector, private and public, banking or business, it doesn't matter, everyone can use it. Financial operations represent the main consumer of the blockchain technologies and now it demands a product capable of performing all the tasks set for business and common users too, and Multiversum can do it. And the goal of the Multiversum platform is to ensure the needs of every market sector are met.
And the answer to the question above is YES, Multiversum can and will compete with Visa/MasterCard technologies as soon as their product will be finished. Relying on their roadmap i can assume that it will be already in 2018-2019. So i advice you to study this project more detailed, all needed links i will provide below.
Official website: https://www.multiversum.io/
Whitepaper: https://www.multiversum.io/whitepaper/WP_English.pdf
Bitcointalk ANN Thread: https://bitcointalk.org/index.php?topic=2955830.0
Twitter: https://twitter.com/MultiversumBC
Facebook: https://www.facebook.com/MultiversumBlockchain
Telegram: https://t.me/MultiversumOfficial
My bitcointalk username: NakiRR
Link to my profile: https://bitcointalk.org/index.php?action=profile;u=1169542