MultiVAC Information For KuCoin Users – KuCoin Spotlight Project Overview

CEO Michael Gan recently introduced the first project that will be featured on KuCoin's Spotlight platform. To learn how to take part, there is a tutorial for participating in the token sale of Spotlight projects. Here's all the information you need to know about this project:

Check here for the in-depth report. 

MultiVAC Testnet Introduction

Summary

MultiVAC aims to develop the next-generation public blockchain platform, specially designed for large-scale and complicated decentralized applications. The project gravitates around its sharding technology, allowing sustainable scalability. It is providing an interesting approach towards the current blockchain scalability issue. With the proposed trusted sharding model, MultiVAC solves the scalability problems, allowing for the unlimited accumulation of transaction power from nodes worldwide, to clarify and produce high TPS to enable dApps. It adopts the shard election and the Verifiable Random Functions as one of its consensus mechanisms. The accounting method of MultiVAC is similar to Bitcoin, using Unspent Transaction Output.

The project solves the three fundamental problems: creating shards from network nodes for transactions, smart contracts processing in a trustworthy manner, and allowing the network to scale. The virtual machines used in MultiVAC, called MVMs, enabling the smart contracts to work on the network without the need to be present on every machine. Furthermore, MultiVAC introduces its Blockchain Instruction Set Computer (BISC) and its PoIE consensus. The project uses C language in the MVMs currently, although the team states their plans to enable higher level languages like Java and Go.

(1) All-Dimensional Sharding

MultiVAC is developing the world’s first fast, efficient, and fully sharded blockchain with sharding for not only computation but also transmission and storage, maximizing throughput while maintaining decentralization and without sacrificing security.
Tech: VRF Dynamic Re-shard, Organic Shard Splitting, Storage Node, Cross-shard Communication Simplify, Distributed Ledge Scheme based on Merkle Root, Byzantine Consensus Family…

(2) Flexibility for CAP Trilemma

MultiVAC pioneers flexibility for DApps to trade off freely on the impossible CAP triangle between decentralization, performance and security, supporting large-scale decentralized commercial applications for complex and diverse business requirements. We provide a novel approach for blockchain to reach industrial capabilities.
Tech: Trusted Probability Model, PoIE Consensus, BISC, MVM…

MultiVAC Links

Website: www.mtv.ac/
Tech Whitepaper: www.mtv.ac/assets/file/MultiVAC_Tech_Whitepaper.pdf
All-dimensional Sharding Yellowpaper: www.mtv.ac/assets/file/MultiVAC_Sharding_Yellowpaper.pdf
Blog: medium.com/multivac-foundation
Lab data Summary: medium.com/multivac-foundation/the-summary-of-multivacs-lab-data-6ab7a6402ebe
GitHub: medium.com/multivac-foundation/unveils-the-secret-of-multivac-code-spy-shots-9261745e8b52

Progress & Roadmap

May 2018: Flexible Computation Whitepaper Release
Septemeber 2018: All-dimensional Sharding Yellowpaper Release
October 2018: Lab data Release with 30784 peak TPS in 64 shards and 12800 nodes
February 2019: Test 1.0 Phoenix Release
April 2019 : State Sharding and Smart Contract Purplepaper Release
May 2019: Testnet 2.0 Enigma Release with PC miner clients
June 2019: Economy Whitepaper Release
July 2019: Testnet 3.0 Oracle Release with incentive model
September 2019: Mainnet Launch

Business Plan

MultiVAC presents a relatively detailed, 11-pages-long technical whitepaper, describing the project's goal to become the world’s first fast, efficient, and all dimensional sharded blockchain, designed for total scalability and performing sharding parallelization not only for computational purposes but also with transmission and storage capabilities. The project claims to solve the fundamental problems of blockchain, such as: – the issues with creating shards from network nodes for transaction and smart contract processing in a trustworthy manner, allowing the network to scale; – the issue of transaction processing and updating records using trusted shards; – the issue of verifying the correct and honest execution of smart contract codes, by network nodes. The document introduces the reader to the Verifiable Random Functions (VRF) probability model, designed to solve the problem of how to safely, efficiently, and randomly shard the network. Furthermore, it describes the use of the Byzantine consensus family to reach internal consensus within a shard, achieving the construction of trustworthy shard-based consensus. Information for the smart contract's deployment is also given, explaining the optimized virtual machine (MVM, short for MultiVAC Virtual Machine), capable of general-purpose computation, equipped with a special blockchain instruction set computer (BISC), and verifying the correctness of the contract execution through the proposed Proof of Instruction Execution (PoIE) consensus.

Technical Description

MultiVAC has provided both white and yellow papers, where the reader can understand, in sufficient detail, all technological features and key aspects the project relies on. The technical whitepaper begins with a description of the current problems of the traditional blockchains and further elaborates on the proposed VRF probability model. In summary, the project uses the VRF to construct a probability model that splits the user's transactions and miner nodes into shards, and then, uses UTXO and the Byzantine consensus family in order to reach in-shard consensus. Furthermore, there is information for the technical aspects of the MultiVAC's Virtual Machines and the specialized blockchain-dedicated instruction set, named BISC (Blockchain Instruction Set Computer), followed by a technical description of the preferred PoIE Consensus. The document continues with details for the storage, transmission and computational capabilities that MultiVAC's public blockchain would provide, followed by a “Conclusions” section and the standard “References” enumeration. The yellowpaper represents a vast and more thorough technical view of MultiVAC's All-Dimensional Sharding solution for scaling blockchains with its design principles, providing explanations for every aspect with various schemes and diagrams.

Product development progress

MultiVAC has recently launched its testnet 1.0, called Phoenix. There is a list of following updates which will occur in the near future.

Blockchain technology usage and innovation

MultiVAC presents a three-dimensional sharding process, which provides sharding for computation, data storing and data transmission, which according to the project's whitepaper, is an innovation of MultiVAC architecture.

Dependencies to third party platform or service

Currently, MultiVAC depends on the Ethereum blockchain and its ERC20 token standard. However, as soon as they launch their mainnet, there will be a migration to its own mainnet and token standard.

Blockchain advantage, effects on the market

MultiVAC presents a three-dimensional sharding process that provides sharding for computation, data storing and data transmission, which according to the project's whitepaper, is an innovation of MultiVAC architecture. This architecture is designed to increase the throughput, and at the same time, maintain decentralization without sacrificing security. However, the project is still on its early stage of development, and there is a fair level of uncertainty for every aspect that MultiVAC outlines. Also, there is competition in the face of Zilliqa, Dfinity and QuarkChain.

Decentralisation of the system

In summary, MultiVAC uses VRF to construct a probability model that splits user transactions and miner nodes into shards, and then, uses UTXO and the Byzantine consensus family to reach in-shard consensus. That way, the project's team achieves a trusted sharding model, following the main principles of security and decentralization. The basis of the proposed VRF sharding mechanism is the creation of MVM virtual machines, equipped with a custom BISC instruction set and PoIE consensus. However, MultiVAC's key technological features and aspects, as well as its foundation governance, is developed and maintained entirely by its core team of founders and developers, in a centralized manner.

System security measures

To prevent infinite-loop attacks, MultiVAC's Virtual Machines (MVMs) would use gas charges similar to Ethereum for each BISC instruction executed. Because each executed instruction in a smart contract incurs a charge, smart contracts must be executed in the most computationally efficient way possible, requiring code optimization. To do this, MVMs would include a targeted suggestion and optimization engine in its test environment. That would provide breakdowns of executed instructions and their gas costs, and it would also propose computational environment suggestions for code optimization. Furthermore, the team has chosen to dynamically adjust the miners of a shard. This makes attacks on any shard as difficult as attacking the network as a whole. MultiVAC additionally makes attacks harder by selecting in-node consensus algorithms that will not (or are very unlikely to) produce network forks such as PBFT, asynchronous BFT or BA⋆. Erroneous blocks affected by malicious nodes would thus be left with a cryptographic trace.

 

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