Hello everyone,
Now that we have finished the time-intensive Mainnet launch, we are happy to share more information behind the MultiVAC project with you all.
What were the main challenges the team encountered during development?
There were both academic and engineering problems that we ran into. Fortunately, we have a fantastically equipped team that could handle these issues as they came up. In fact, in comparison, design challenges surrounding how we would like to build a next-generation system will likely be a more difficult hurdle for us to face overall. In addition, the MultiVAC system is very large. The architecture of our storage system is as complex and exquisite as IPFS, but as we have a brand-new design, the development load is also very large.
Speaking of difficulties, a large one for us lies in the fact that the industry is very impetuous, while the blockchain field is quite innovative. Our technical team plans to take it slow and overcome these potential problems moving forward. To build a technologically innovative project on this scale, the time and resources required were (of course) far beyond everyone’s initial expectations. In the process of accomplishing all of these things, the price of the MTV token fell. Some people lost confidence in us, and others even scolded us — but we firmly believe that strong technology changes the world and we are fortunate that we have survived.
How has Mainnet been behaving so far? Our answer: Fabulous.
The original plan for MultiVAC was to support RISC-V virtual machines, but we also considered compatibility with WASM and EVM at the beginning of the design phase. During development, we realized that the ecology of RISC-V is still very small, and the developer community, as well as the available development tools, are currently insufficient. We were worried this would affect the ecology and DApp construction on MultiVAC, so we decided to support EVM first. After all, EVM is more mature and has a large number of developers and open source code, which means we can also be compatible with most current wallets and exchanges. Our own virtual machine has actually completed prototype development. But as a brand-new system, its promotion and application still require a lot of work, so it is temporarily unable to carry commercial applications.
In terms of application development, MultiVAC’s contract function has been completed. The Mainnet now supports the deployment and application of smart contracts, but it is not currently in use. This is mainly because the Mainnet browser does not fully support all functions and we were still in the observation period when the Mainnet first launched. After waiting for the Mainnet to run stably for a period of time without issue(s), we can deploy the contract on the Mainnet. As with any blockchain protocol, we require supporting infrastructure, including browsers, wallets, bridges, oracles, etc. Next, we will continue to develop the browser and deploy the bridge to freely convert between different token types. As for the wallet and oracle, we plan to adapt to any current mainstream offerings, and developers are also welcome to come to build with us.
Developers are the clear cornerstone of the ecosystem. Whether it be grant programs, hackathons, or other types of dev events, the purpose of these initiatives is to attract developers to the platform and enrich the ecosystem. With the rise of applications such as DeFi and NFTs, more and more blockchain platforms have realized that it is difficult to attract real developers only by the innovation of their own platforms. Even if some projects are incubated, there will not necessarily be many real users. Except for a very small number of technology enthusiasts, most users follow the hotspots of the market, going wherever it seems money or fun can be had. Therefore, there is no sense in devoting resources to developer activities that are nothing new. We believe that a better strategy is to contact more partners to form alliances together in order to create a rich and diverse ecology, creating value for both of our respective communities in a 1+1>2 type of situation.
While the Mainnet means a lot to MultiVAC, the most important thing to remember is that we have entered a new era: the era of the Mainnet.
Although we are still in Stage-ZERO, we are progressing quickly and have already completed Goal IV with one billion MTV staked. This is a great achievement for the entire community. With staking surpassing the one billion mark, we could technically begin testing some of the functions of Stage-ONE, including shard splitting. However, starting Stage-ONE too early may come with some security and stability risks. The current load on the MultiVAC Mainnet is not very high, so even if the transaction volume increased by a factor of 10, the existing network would be sufficient to support it. Therefore, we are in no hurry to start Stage-ONE at this point in time. If transactions are very active and users grow rapidly, even if staking does not reach 2 billion, we will consider entering Stage-ONE in advance. After entering Stage-ONE, we will consider opening the node. At that time, we will provide you with detailed equipment requirements and operating documents. At the same time, when the external nodes are opened, our partners and supporters can also join in.
As we said in our roadmap, stability and security are only the foundations of the blockchain system. Our next plan is to expand the application scenarios, including cross-chain and on-chain DApps, DeFi, and more. Among them, DeFi can be considered to be the biggest innovation in the blockchain industry since its inception. We fully believe that DeFi-related applications are essential to the ecology of MultiVAC. Whether it’s a trading or lending platform or another DeFi Lego, MultiVAC can support it exceptionally well. Our team is currently carrying out relevant preparation and construction internally. At the same time, we are also establishing connections with external development teams to introduce some amazing projects, which will benefit all holders.
We believe that every holder wants MultiVAC to be better, so whether it is a suggestion or a concern, we treat them all as encouragement. But in an immature industry, we do have to make some difficult trade-offs from time to time. For example, previously we published information about our team members online (such as on LinkedIn) while developing an open-source code repository, enabling the ability to receive feedback from everyone. When the token price fell, we encountered many malicious attacks. The malicious detractors got the contact information of our developers through Linkedin and Github, and then frequently harassed and abused them. For the stability of the team, we decided to let everyone work with peace of mind and thus the team presentation was canceled. But in order to show our confidence in the project, we will still regularly open source the new code. At the same time, the Founders have always spared no effort in their work. You can see their presence on Twitter and Telegram. Please feel free to engage with us!
Similarly, we have seen many active and enthusiastic friends in both the Twitter and Telegram communities. Some people who are native English speakers have helped us to edit text and others who know KOL have helped us promote the project. We believe that real discovery should not be hidden, but should be built on by the people. Therefore, we decided to open up a co-marketing plan. We will budget and establish an active members group to organize everyone to contribute to MultiVAC’s marketing. Proposals determined by voting will be supervised and implemented by our members. We believe that under this mechanism, the publicity of the project will get better and better.
The MultiVAC Team
2021.07.11
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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