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Today blockchain technology is at the initial stage of its development. People use this technology mainly as a tool for speculative activities. To implement Blockchain technologies in real life, new solutions are needed that will eliminate the problem with network scaling. All existing blockchain projects will be useless until the problems with scaling networks are solved and it becomes possible to carry out transactions on a free scale.
Buterin's famous scalability Trilemma says that any blockchain can have only 2 out of 3 advantages: scalability, decentralization or security. Each blockchain has to sacrifice one thing. Bitcoin and Ethereum have this scalability, it starts to fail with the growth of the network, so their use in real life is not possible. Today we will consider a project that solves this problem and makes a real breakthrough in blockchain technology!
MultiVAC is a new project that offers innovative solutions to increase scalability, or rather, plans to make it unlimited. The main goal of the project is tens of thousands of tps per second without loss of security, decentralization and privacy. The basis for a scalable blockchain already laid down the well-known sharding.
MultiVAC is a high-performance network that is designed for dapps on a huge scale. The project team creates sustainable scalability for the implementation of blockchain technology in the work of industrial facilities around the world with the help of high throughput and unique solutions.
Problems solved by the project
It is obvious that blockchain is the technology of the future, capable of replacing all existing economic models. However, the kind in which it is today is practically not suitable for macroeconomics due to the problems of decentralization, security, and most importantly – scalability.
Two of the most successful blockchain startups-Bitcoin and Ethereum – have solved the problem of decentralization, and in some aspect-security. However, the low level of scalability, for example, on the Ethereum platform, makes it impossible to use it on an industrial scale.
2017-2018 brought a lot of blockchain startups with the aim to change the situation, but so far the problem of the so-called "impossible triangle" (decentralization, security, scalability) has not been solved.
For example, Zilliqa and Dfinity managed to create a scalable network, and the testnet showed a fairly high bandwidth, more than a few thousand tps per second. However, it was necessary to abandon the high level of security. And models such as the EOS, rule out decentralization, and low bandwidth support supernodes.
According to the MultiVAC team, today the introduction of blockchain into modern business depends on whether blockchain projects can offer a high-speed network for decentralized applications with the possibility of universal calculations, a large network of transactions and a common system of contract processing in scalable, extensible and adaptable scales.
MultiVAC creates a robust shard model that solves scalability problems and allows you to create an unlimited number of transactions from nodes around the world, that is, providing unlimited scalability.
Technological solution
The technology of verified random functions will be the basis for the choice of fragments (shards). That is, it is a way of random selection of block creators. As for the accounting method, UXO will be used, by analogy with the bitcoin blockchain.
This approach will allow us to find a compromise and create a flexible model within THE framework of the cap theorem, that is, all three components can be consistent. A decentralized platform will be able to scale without losing its security properties.
Shards with VRF (proven random functions)
Shards have features with which users randomly generate proof. With its help, the time for passing the verification by verifiers to start performing the main function is significantly reduced.
As for shards, they are subgroups of the main network. The nodes that join the network must choose between several shards. It is a proven random function used to attach the node to the shard.
VRF will be used for transactions, calculations and data storage. Confirmed transactions will be through UTXO. A random number is generated in the main chain, then hashed with a private key, resulting in a dynamic choice of pseudo-random number, which is assigned to the" fragment " on the probability model.
The network will have open source code, so developers plan to integrate as many programming languages as possible for compatibility with existing applications.
Its main function is to ensure the high cost of each node with a smart contract in the aspect of computing.
This mechanism causes miners to read large amounts of their memory database. Thus, the importance of entire mining companies is reduced, comparing private miners and mining farms with powerful ASICS in the same conditions.
When trying to influence the network of miners, a large amount of computing power will be spent, which should make the extraction not profitable.
That is, the mechanism will check the honesty of calculations. Each team will be checked, and when the sequence of commands with the required amount of gas is finished and checked, the node will give the result and receive a reward.
CONCLUSION
MultiVAC is a unique project that can really contribute to the speedy unification of the blockchain world with all other sectors of the economy, increase the degree of trust in cryptocurrency among people around the world and open up new opportunities. Thanks to its developments and innovative approach to solving existing problems, the MultiVAC project is able to implement a revolutionary breakthrough in the entire blockchain technology. The project has a strong team, reliable partners and excellent chances of success. I think this project is one of the most interesting in recent years, able to give a powerful impetus to the beginning of a new era in the development of blockchain technology. For more detailed information about the project you can follow the links below.
The uniqueness of the text 100 % - https://text.ru/antiplagiat/5c633b401d4ca
- Onepager: https://www.mtv.ac/assets/file/MultiVAC_OnePager.pdf
- Whitepaper: https://www.mtv.ac/assets/file/MultiVAC_Tech_Whitepaper.pdf
- Website: https://www.mtv.ac/
- Telegram chat link: https://t.me/MTVCommunity
- Telegram announcement channel link: https://t.me/MultiVACMTV
- Twitter: https://twitter.com/MultiVAC_Global
- My BitcoinTalk - goldenbitC : https://bitcointalk.org/index.php?action=profile;u=2042706
- ETH: 0xD344c4841ddEE38f6aD75576ee031A7Be1570ef1