Dear Community,
We’re thrilled to share a comprehensive recap of today’s AMA session following the listing of MTV on BingX. For those who may have missed the live discussion or want a quick overview of the key highlights, this recap will provide you with a concise summary of the insightful questions, answers, and exciting announcements that unfolded during the AMA.
Let’s dive into the key takeaways from our engaging conversation!
Q1. Could you introduce MultiVAC and explain what makes it different from other projects?
Big thanks to @BingX for the insightful question!
Answer: MultiVAC is a base-layer (L1) project highly regarded by professional blockchain investors. Our revolutionary technology has been under development since 2018, and the project has attracted more than 40 prominent institutional investors from all around the globe, including well-known institutions such as Hashed, ArringtonXRP, and NGC.
MultiVAC has remained relatively low key over the years, as our ample funding has allowed us to focus almost exclusively on our core mission: engineering a superiorly scalable, fast and reliable public blockchain with great on-chain storage capabilities and ultra-low transaction fees. In other words, a blockchain that can be mass used globally, at a societal and industrial scale.
We have greatly succeeded so far, as our mainnet has been running stably for more than two years, and anyone who has been using our platform can advocate how breezing fast, reliable and cheap MultiVAC is.
From a technical standpoint, MultiVAC boasts a vanguard sharding protocol with high throughput, in which all the basic tasks of a blockchain (computation, transmission and storage) are being sharded. This innovative all-dimensional approach allows for a rather linear expansion of our system. That’s why MultiVAC has often been referred to as the “Sharding Killer” or the “Multi-core Ethereum”. MultiVAC also pioneered a flexible computing framework, a system in which developers can trade-off freely parameters of the blockchain trilemma to make MultiVAC fit their requirements at best.
To help you build a mental picture, imagine a massive Swiss clock mechanism; A myriad of spinning gears interacting with each other, with gear assemblies being added or removed continuously without interfering with the functioning of the mechanism — and with friction between gears being maintained to an absolute minimum, so as to allow for linear expansion of the machinery without running out of energy. A mechanism in which users can alter at will critical parameters, such as spinning speed and robustness of the gears. That’s MultiVAC — a unique code built from scratch by a team of geniuses with exceptional academic backgrounds.
After more than 6 years of intense development — often including fundamental mathematics research — we are proud to say that MultiVAC is simply unmatched in the blockchain industry. The uniqueness, avant-guardism and maturity of our technology, combined with our low market cap, make MultiVAC an ecosystem ready to blossom, with tremendous potential for its stakeholders.
Looking forward, the MultiVAC Foundation is working on the “one-stop” aspect of MultiVAC. We are convinced that the extraordinary traits of blockchain will become embedded in a wide range of societal applications, and we want MultiVAC to become a natural “go-to” solution for such use cases — from tokenization of assets to decentralized cloud storage and citizenship interactions (ZK-proofs, DID…). Our ambitious roadmap for the period 2024–2025 details the practical steps towards that goal.
Official Website:https://mtv.ac
White Paper:https://www.mtv.ac/assets/file/MultiVAC_Tech_Whitepaper.pdf
Twitter: https://twitter.com/MultiVAC_Global
Medium: https://multivac-global.medium.com
Telegram Group:https://t.me/MultiVAC2020
Q2: Are there any updates regarding personal nodes? What is the timeline for node release?
Big thanks to @jgschwend for the insightful question!
Answer: We fully understand the community’s strong anticipation for launching personal nodes. Implementing personal nodes equates to moving MultiVAC towards full decentralization, a significant and meaningful step as a public blockchain.
As we mentioned in our recently released 2024–2025 roadmap, we plan to launch personal nodes within this period. To enhance node operational efficiency and to better adapt to user habits, we plan to introduce personal nodes for both PC and mobile platforms. By that time, all eligible MTV users will be able to run personal nodes without any barriers.
We are most aware that the community has been eagerly awaiting personal nodes for a long time. But our decision to delay the launch of personal nodes to 2024–2025 was based on two key considerations:
Firstly, because of the consequences of decentralization for a project that is still very active in its development. From the early design stages, the MultiVAC Foundation thoroughly contemplated the impact of full decentralization. Once personal nodes are deployed, the MultiVAC blockchain will achieve true decentralization, forming a highly decentralized network, free from the control of any single entity. This is a double-edged sword; under such architecture, any modifications and updates to MultiVAC code will face greater challenges and require a lot of efforts from our developers to reach the necessary quorum amongst stakeholders. Although this is a natural step for every public blockchain, our development team had to make peace with the idea, as MultiVAC has been in a phase of rapid iteration and development since the launch of our mainnet in 2021, with our team committed to realizing more innovative ideas and designs. Our goal was to penetrate the market with a base-layer platform that is as advanced and as comprehensive as possible. We are now a mature system, and we have already laid the path for further enhancements — as reflected in our new roadmap.
Secondly, because MultiVAC offers ultra-low fees to its users, and so the timing for its decentralization is crucial from a business model standpoint. As much as a large number of nodes is required to ensure complete decentralization, operating nodes must also prove profitable to stakeholders engaging in such activity. Otherwise, the system won’t be sustainable.
Extra incentivization from project funds can only last so long, that’s why not only transaction fees generated by platform usage must reach a critical mass, but also the MTV coin must be properly valued on the secondary market. While the first criteria is a more philosophical consideration based on blockchain adoption by the real world, the second factor can be controlled by timing the market properly. Therefore, regardless of market speculation which is at the bottom of our priority list, paying attention to the market sentiment is important; the last couple of years were certainly not ideal in that respect. What’s more, that extra time was not wasted; it allowed us to further perfect the MultiVAC mainnet.
Q3: What is the funding runway of the MultiVAC project?
Big thanks to @DastardlyDude for the insightful question!
Answer: Since its inception in 2018, the MultiVAC project has become a star in the capital market, attracting extensive attention from top blockchain investment firms across Asia, Europe, and North America, including well-known institutions such as Hashed, ArringtonXRP, and NGC. As a result, we immediately secured ample funding. Thanks to our rigid financial discipline and to our exceptional operational adaptability, the MultiVAC Foundation has maintained a sound financial health ever since.
Over the years, the MultiVAC Foundation has achieved a colossal amount of development work on its mainnet, which launched successfully in 2021 and now includes over 200,000 lines of code. It is worth noting that our mainnet has been running smoothly ever since, demonstrating uncommon stability and reliability, despite its extreme complexity both in terms of sharding mechanisms and optimized capabilities.
Looking forward, the MultiVAC Foundation still holds the necessary funds to allow for our technology to grow further as detailed in our new roadmap, while also allowing for other crucial aspects of the projects to materialize, such as decentralized governance, ecosystem growth, and large-scale marketing campaigns. What’s more, we have planned to strengthen our workforce over the next years.
According to this strategic plan, our current funds will allow us to remain self-sustained for another 4 to 5 years. We expect blockchain adoption on a societal and industrial scale to partially occur in the meantime, which in turn will allow us to generate enough revenue for continuous growth.
Everyone participating to this AMA is well aware that the crypto market is heavily cyclic, and that projects able to survive multiple market downturns are usually the ones that are there to stay. Invariably, projects subsist either thanks to the risk management skills of their team, or thanks to the faithfulness of their communities. Remarkably, MultiVAC has both. Anyone joining our official telegram channel MultiVAC2020 will immediately notice the level of knowledge and wisdom being exchanged amongst our community.
MultiVAC has navigated through industry cycles by always adhering to its ideals and convictions, even during the toughest times. Throughout this process, our team has accumulated substantial experience and know-how. We believe that we now possess the ability to face any challenge — as well as the strength to embrace future complex opportunities.
Q4: As we know, the blockchain field is still a work in progress, and so usage and volume are needed to develop and improve the tech. Where do MTV’s ambitions and preparedness lie at, in order to increase utilization of the chain — ie. attracting users and projects to develop, to ultimately align with the goal of industrial scale adoption? With the coming surge of expected activity on blockchain networks over the next 2 years, are we in line to take advantage of that opportunity?
Big thanks to @RichiesBlock for the insightful question!
Answer: Unlike many competitors, and even newcomers, MultiVAC is much more than just a public blockchain with improved throughput and flexibility. MultiVAC was conceived to solve practical problems in the real world, in a large — industrial — scale. Through our innovative, all-dimensional sharding technology coupled with many other architecture optimizations, we have engineered mechanisms that increase the transaction processing speed (TPS) in a linear way, removing barriers to large-scale usage and adoption.
During early design stages, the MultiVAC Foundation chose a monolithic architecture in which all the blockchain’s basic functions remain executed by MultiVAC itself. We did so as we understood that industrial and institutional users will avoid systems in which critical data is handled by multiple third parties. Think about it; if you are a S&P500 company willing to tokenize your shares or your industrial processes, you will most likely pick a highly reliable public blockchain, with ultra-low transaction fees, that is able to handle all the blockchain processes itself — from execution to on-chain storage. In risk-management terms, a decentralized one-stop solution is preferable as it mitigates third-parties risk.
However, reaching unrestrained scalability without resorting to third-party scaling solutions (L2) or without a modular architecture (delegating blokchain basic functions to third parties) is not an easy task. Every component of the blockchain must be designed to operate in the most optimized way, with minimum communication, while working in symbiosis with myriads of internal processes. It often requires significant fundamental mathematics research, which takes time. Not many blockchain projects elect to follow that complex and lengthy path. MultiVAC did — and succeeded.
These years of complete focus on MultiVAC internal mechanisms however came at a cost; our ecosystem is not as developed and not as popular as well-branded and highly marketed competitors.
We are nonetheless convinced that this will change soon, as real-world adoption will favor technologies that can meet actual needs.
What’s more, as illustrated in our 2024–2025 roadmap, we are committed to remain at the leading-edge of blockchain technology and market demands. That’s why we are planning to integrate in our code the most promising technologies, as well as making MultiVAC immune to quantum attacks.
Additionally, to seize as many opportunities as possible over the next couple of years, we are planning to intensify our branding and marketing efforts. This includes collaborations with KOLs, organizing hackathons, participating in major blockchain conferences, and conducting extensive promotional activities. These strategies will not only strengthen our market position, but it will also attract more partners and users, accelerating MultiVAC’s adoption in the blockchain industry.
Q5: What is the future for long-term stakes? Will investors be rewarded for their support？ Most stuck with MTV for the entire bear market and should be rewarded. If we are long term staking, and the node client arrives, will we be able to unstake to have the funds needed to run a node? Or will we be able to transfer our funds somehow to be able to run a node?
Big thanks to @THE CITADEL GOLDEN BULLfor the insightful question!
Answer: I’m delighted to answer a question about long-term staking, as many stakeholders have shown interest in our long-term staking mechanism. The MultiVAC Foundation deeply appreciates the support and companionship of our community members. Even though long-term staking currently doesn’t offer additional staking rewards, the community’s unwavering support to our “Stake and Forget” philosophy is truly touching. We have no doubt that stakers’ persistence and patience will be duly rewarded during this upward cycle — and during blockchain adoption in general.
In the upcoming 2024–2025 period, we are planning to activate all the functions of our staking program specifically designed for long-term investors. This program aims at rewarding our most faithful community members with enhanced incentives and access to organizational mechanisms, allowing them to gain a voice and to participate more actively in the MultiVAC project.
As details about client nodes remain undisclosed, I cannot reveal much at this time. However, as our long-term stakers are the backbone of the MultiVAC community — especially regarding governance post client node launch — I can ensure our community that the interests of our long-term stakers will not only be preserved, but significantly reinforced.
Q6:I know MTV was built years ago and was ahead of its time but now how does it compare to new age blockchains ? Is it old tech at this point ?
Big thanks to @Goose for the insightful question!
Answer: This question is very important and has been partially answered above.
I can confidently say that our underlying architectural design is still at the very leading edge of blockchain technology, as no other project has invested as much time and resources as we did in developing a proprietary sharding solution. Although Vitalik Buterin drafted sharding back in 2018 — the year MultiVAC was founded — Ethereum only started to work consistently on that technology a few years later. Our all-dimensional technology therefore remains vanguard and unrivaled in many aspects. I invite you to read thoroughly the MultiVAC Sharding Yellowpaper that is available on our website.
What’s more, we didn’t rest on our sharding laurels. Over the years, we have made various adjustments to the basic architecture of MultiVAC by implementing enhancements that we discovered through dedicated research. Also, we kept iterating our mainnet to ensure that our technology constantly embodies the latest industry innovations. A good illustration of this is the Ethereum Virtual Machine (EVM), a technology that was not originally part of the MultiVAC design. As years went by, we realized how convenient the EVM was for developers, and so we decided to launch an EVM-based mainnet. Upcoming upgrades of our blockchain are better detailed in our 2024–2025 roadmap. For instance, we can mention here the integration of forefront technologies such as Zero-Knowledge Proofs and post-quantum cryptography. Also, once we make additional breakthroughs thanks to our R&D expertise, we will be able to further enhance the MultiVAC mainnet at the Layer 1 level.
In a nutshell, it’s no exaggeration to say that MultiVAC is not only at the cutting edge of blockchain technology, but it will remain one of the most advanced projects in the industry.
On a side note, mentioning our proprietary sharding technology might also raise questions about our private GitHub. Electing to turn our GitHub account private has been an undeniable twist to our academic background, in which sharing information and breakthroughs is considered a key principle. However, this decision arose from a rather simple observation; while the MultiVAC Foundation was dedicating almost its entire budget into development and fundamental research, most of our competitors were burning their fundings organizing marketing campaigns to attract interest. We therefore thought it’d be unfair if projects turbo-boosted by media exposure would just copy-paste our technological advancements and become industry leaders.
We are nonetheless planning to make our code accessible to everyone once our technological advancement and leadership role become widely recognized within the blockchain industry.
Q7:Is there anything the community can do to help make MTV’s vision come to life?
Big thanks to @Mnguyen for the insightful question!
Answer: We extend our heartfelt gratitude to everyone in the community for standing with us so faithfully, for avoiding spreading speculative FUD, and for embracing the vision and the singular philosophy of MultiVAC.
The voice of every community member is unique and valuable to us. So don’t hesitate to get in touch.
From a visibility standpoint, we encourage everyone in the community to spread the word about MultiVAC to people around you — from those interested in blockchain to every KOL you can interact with. We don’t ask for you to simply praise MultiVAC; rather, we invite you to introduce the project and MultiVAC’s unique technology to those people, letting them make their own judgments, redirecting them to enlightening material such as this AMA.
Another great approach is to point out MultiVAC’s exceptional scalability, cost-effectiveness, ease of use, and reliability.
The more voices we have, the louder our call, the faster we’ll steer towards the decentralized society that we all are eagerly anticipating.
Q8:What standards does the Core apply regarding the Ecosystem Grant Program in the aim of supporting “great developers” building apps on MultiVAC?
Big thanks to @Gilibert for the insightful question!
Answer: Since one of our main focuses for the period 2024–2025 will be the exponential growth of our ecosystem and of MultiVAC’s reach, we will be very keen to assign grants to projects in which we can see true added value for the MultiVAC platform.
By true added value, I mean a project that we think meets the following criteria:
1. Advocacy of MultiVAC’s philosophical orientation towards bringing real-world value to blockchain rather than just fostering speculative bubbles. The project must be ready to support the long-term development of MultiVAC, and be willing to collaborate with the MultiVAC Foundation towards its long-term vision.
2. Ability to bring tangible benefits to the MultiVAC community, such as adding interesting functions to the ecosystem, attracting new users, and enhancing MultiVAC’s public aura.
3.Popularity amongst the MultiVAC community. We must feel a genuine need or support from our community towards the candidate project. At the end of the day, and in a decentralized spirit, our ecosystem funds are truly owned by our community.
4.Professionalism. We must be under the impression that the team behind the candidate project is capable of deploying the grant in an effective and legitimate manner. Also, the funding requested must be reasonable and commensurate with the type of project being envisioned.
Q9:Are there any plans to update the circulating supply on resources such as Coinmarketcap, so as to have them include team tokens and staked tokens?
Big thanks to @Jayesar for the insightful question!
Answer: Updating data on Coinmarketcap and CoinGecko has been a recurrent task for us. While those platforms bring tremendous value to blockchain, they are highly automatized, and so it is quite a work for us to get any data amended.
It is worth noting that by default, Coinmarketcap and CoinGecko do not consider staked coins as circulating supply, as circulating supply refers in finance to the amount of supply (in this case, the amount of MTV coins) in circulation in the market at any given time that is available for trade. As staked MTV coins are not readily available for trade, they cannot theoretically be accounted for in the circulating supply. We therefore might have to wait until the project has extended significantly its reach before price-tracking platforms such as Coinmarketcap and CoinGecko agree to reconsider their accounting rules for the MTV coin.
In the meantime, we could consider listing real-time circulating supply data on our own website, with our own accounting rules. We would appreciate community input on the subject!
Q10:Are there any plans to partner with another Bridge to get stablecoins and top 10 coins back on chain for Defi? Or are there any plans by the team to incorporate its own method?
Big thanks to @Jayesar for the insightful question!
Answer: We are extremely cautious when considering the introduction of cross-chain partners. This cautiousness is mainly due to the security risks associated with cross-chain operations. These risks can either originate from security risks inherent to the cross-chain technology itself, or originate from internal security risks — in other words, the misuse of privileges by internal staff.
As an open network, MultiVAC allows for the construction of various bridging technologies, but we must be very vigilant when it comes to giving access to MultiVAC’s ecosystem funds.
The MultiVAC Foundation has the in-house expertise to build and operate safely a cross-chain bride. In fact, we have been successfully running for years our own Mainnet / ERC-20 / BEP-20 bridge. That’s why, although bridging with other chains is not part of our core duties, if there is a strong need within our community, we are willing to add this task to our priority list and to start implementation as soon as possible. Don’t hesitate to voice your preference on our community groups.
Q11: How can regular users easily join MultiVAC’s network for mining? And why is this approach different from other blockchain projects?
Big thanks to @@Keylo190 for the insightful question!
Answer: The MultiVAC blockchain operates a fair Proof of Stake (PoS) mining system, which does not require massive computing power, numerous graphics cards, or large hard drives. Once personal nodes will be released, anyone using a PC or a mobile phone with modern capabilities will be able to participate in full capacity to the validation process on the MultiVAC network. We have conducted several rounds of testnet mining activities, demonstrating that standard personal computers, even older models, are amply capable of executing MultiVAC mining duties.
As of now, however, there’s no need for any mining hardware; MTV holders willing to participate to the validation process can simply delegate their coins to the MultiVAC staking system. Under this scheme, every 1 million MTV coins represent one node, which will generate further validation rewards for the holder. This is not however a minimum staking threshold, meaning that you can participate with less than 1 million MTV.
The mining pool operates without charging any commission, and the current annual yield for staking is at 3.57%.
The MultiVAC architecture is composed of more than one type of nodes. For instance, the network includes storage nodes, for which every action is checked and validated by miners (validation nodes). This secure separation of powers using Merkle Tree cryptography frees MultiVAC miners from storage and throughput constraints.
Here is the link to our staking page: https://e.mtv.ac/staking.html
By clicking on this link, you can delegate your MTV coins to MultiVAC, collect staking rewards, and strengthen our network.
Q12:Security is the most important thing to consider when starting up a project or partnership, how secured is this project for users and investors? Because, there’s been a lot of hacking issues. Please can we get information about your security system?
Big thanks to @CoalMiner444 for the insightful question!
Answer: This is a very interesting question. We can assure all MultiVAC participants that system security and users’ asset security are on the top of our priority list.
Simultaneously to the launch of MultiVAC’s mainnet in June 2021, our proprietary bridge was deployed. The bridge allows users to freely exchange the format in which they hold our coin. MTV is available in MultiVAC mainnet coins, ERC-20 (Ethereum) tokens, and BEP-20 (Binance Smart Chain) tokens. 10 billion coins/tokens are available in each format; when a coin is being used in a specific format, the other two formats of this coin stay frozen, so the total supply remain unaltered at 10 billion MTV.
Both the mainnet and our proprietary bridge have been running smoothly for over two and a half years, with zero security incident. As we all know, bridges are prone to security issues, and most other projects have experienced at least one security breach. The outstanding fact it has never been our case is most probably due to MultiVAC’s robust underlying security technology, which has proven to be extremely reliable over the years.
Willing to try out our secure and efficient proprietary bridge?
Q13: Do you plan to ever have your own explorer?
Big thanks to @Cryptobitb for the insightful question!
Answer:Currently, The MultiVAC ecosystem comprises two distinct explorers:
1. MultiVAC proprietary explorer, established and maintained by the MultiVAC Foundation. ( https://e.mtv.ac )
2. MTVscout ( https://www.mtvscout.com/ ), a beautiful explorer conceived by members of the MultiVAC community. While MTVscout has been developed and is being maintained by members of our community, the MultiVAC Foundation is covering the costs related to its operation. This collaboration fosters positive and direct involvement of the MultiVAC community in our ecosystem.
The two explorers have different — yet complementary — focuses, verifying each other’s data.
Users are welcome to visit the above-mentioned links to find crucial information and interesting facts about the performance of the MultiVAC mainnet.
Q14: What about hackathon?
Big thanks to @Tom4w for the insightful question!
Answer:Hackathon is a fantastic opportunity for us to show case MultiVAC’s capabilities and to attract new participants.
We have no doubt that our community will be excited to join the event, so the most technically capable of us can show off their skills, while thinkers can brainstorm with us about MultiVAC’s vision and about participative governance within the MultiVAC Foundation.
Regarding practicalities, we plan to hold the hackathon event either in 2024 or in 2025. To do so, we will either reactivate the Hackathon contract that was put in hold two years ago because of the industry sudden downturn, or we will negotiate a new one.
Furthermore, showcasing the MultiVAC technology won’t be limited to the Hackathon. We’re excited to announce that the MultiVAC Foundation will be attending three major blockchain events in 2024 — Blockchain Life Dubai (15–16 April), Token2049 Dubai (18–19 April), and Token2049 Singapore (18–19 September). Our community is most welcome to come over to greet us!
Q15: What are the team’s biggest concerns/roadblocks currently?
Big thanks to @Inkara0509 for the insightful question!
Answer:As of now, the MultiVAC Foundation has no major concerns to express. We are looking serenely to the future, and we are extremely excited to play an active role in the ongoing blockchain revolution.
As better detailed in our new roadmap, the next couple of years will be packed with technological enhancements — but that’s not all. The MultiVAC project will also accomplish giant steps towards decentralization and adoption.
The following topics have been itemized in our management watchlist, to ensure nothing will impede our march to success:
1.Community Engagement: Ensuring effective communication and engagement with our community remain a priority. The team aims to foster an ever growing, resilient and supportive community around the project — a community who understands the singularity of the MultiVAC project, for which rewarding Research & Development primes over short term speculation;
2.Adoption: Achieving broader industry adoption and recognition is an ongoing goal. The MultiVAC Foundation is actively working on strategies to enhance the project’s reach and attract more users and partners.
3.Ecosystem Growth: Facilitating the growth of the MultiVAC ecosystem is a key focus. This involves attracting developers, projects, and businesses to build on and contribute to the MultiVAC ecosystem. The hackathon mentioned in our 2024–2025 roadmap will act as a strong catalyst in that regard;
4.Fast-moving regulatory Landscape: Keeping abreast of and navigating the evolving regulatory landscape is a constant commitment. The MultiVAC Foundation is actively monitoring applicable regulatory developments, to ensure continuous compliance for the project.
By acting promptly and effectively to tackle potential hurdles, the MultiVAC Foundation aims to ensure the successful development, adoption, and sustainability of its groundbreaking blockchain ecosystem.
ABOUT MULTIVAC:
MultiVAC is a high-throughput flexible blockchain platform based on all-dimensional sharding. It’s a next-generation public blockchain platform built for integration with large-scale decentralized applications.
MultiVAC is developing the first solution in the world characterized by speediness, efficiency, and all-dimensional sharding to expand its capacity in computation, transmission, and storage. It realizes the maximum throughput while maintaining decentralization and without sacrificing security.
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