Welcome back to MultiVAC’s Monthly Project Report. If you have any questions or suggestions, please feel free to email us at core@mtv.ac
Overview:
During the month of August, the MultiVAC Foundation orchestrated an airdrop to broader MultiVAC’s audience, by engaging enthusiasts beyond our community. Also, we embraced community projects, explored partnerships, and improved technical aspects like network stability and mining rewards distribution.
Airdrop Initiative:
In August, the MultiVAC Foundation executed a thoughtful airdrop initiative aimed at connecting and seeding collaboration with participants of other ecosystems. Arousing the curiosity of a new audience and getting people to investigate MultiVAC’s vision and technology are indeed powerful ways to expand the project’s reach.
The MultiVAC Foundation took great care to ensure that this gesture was perceived as an opportunity for learning and growth, rather than a privacy intrusion. The airdrop was therefore conducted in a manner that respected the preferences and interests of the recipients — those were chosen based on their demonstrated interest and engagement in certain blockchain technologies.
The positive impact of the airdrop became quickly obvious, as the MultiVAC website experienced an 83% growth in unique visitors, with peak daily web traffic surging to 10.4 times its usual level. This — combined with other indicators — clearly indicates that the initiative has drawn considerable attention from new users to MTV.
Community Project Support:
As the MultiVAC Foundation is upmost committed to fostering initiatives that benefit its ecosystem growth, requests for community project sponsorship were reviewed this month. We contacted project initiators to understand deeper their vision, and to evaluate resources to be allocated. Supporting quality projects not only enhances MultiVAC’s ecosystem; it also empowers our community members to take part in shaping the future of our society.
Project Development Updates:
Enhanced Network Stability: Our dev team successfully addressed issues related to certain RPC nodes, which had been causing disruptions in network performance. By resolving these issues, we ensured the smooth operation of the mainnet, thereby providing a stable environment for participants to engage in various blockchain activities, including running nodes (commonly referred to as “mining”).
Efficient Mining Reward Distribution: As a result of the concerted efforts to improve network stability, our dev team was able to guarantee the seamless distribution of mining rewards. This accomplishment underscores the MultiVAC Foundation’s commitment to creating an ecosystem where miners can fairly and efficiently receive their rewards, further incentivizing their participation in the network.
Building Strategic Partnerships: While external updates have been relatively limited lately, our commercial team has dedicated considerable effort to exploring potential strategic partnerships. Discussions have been held with various organizations and projects that share synergies with MultiVAC’s objectives. Our strategy is to consistently identify partnership opportunities that could enhance the project’s development and contribute to its long-term success.
Internal Workshops and Training: Recognizing the importance of team cohesion and skill development, the MultiVAC Foundation organized internal workshops and training sessions. These activities aimed to foster knowledge sharing, enhance expertise, and strengthen the bonds among team members. A well-equipped and harmonious team is essential for tackling efficiently the challenges that lie ahead.
Conclusion:
August showcased MultiVAC’s dynamic involvement across various realms. The well-executed airdrop initiative promoted ecosystem collaboration, while our support for community projects underscored our commitment to shaping a shared blockchain future. Technical refinements reinforced network reliability and consistent mining rewards. The exploration of external strategic partnerships and internal team building further exemplified our holistic project development philosophy. This comprehensive approach epitomizes MultiVAC’s steadfast journey toward progress and innovation.
Knowledge Sharing
As a quick recap, MultiVAC offers four distinct advantages, as mentioned in our May monthly report (https://multivac-global.medium.com/multivacs-may-2023-monthly-project-report-5e4ebbd2a400)
In our previous report, we covered three significant technological advancements of our blockchain. Now, let’s dive into the fourth innovation in more detail:
This part will focus on the concept of sharding within the blockchain, emphasizing cross-shard communication’s complexity and MultiVAC’s approach to handling it.
How does MultiVAC handle cross-shard communication? Consider two shards: shard 1 and shard 2. When a user on shard 1 (A) wants to send $MTV to a user on shard 2 (B), communication between the shards is needed. MultiVAC ensures that A and B are always on their respective shards. Here’s how the process works:
1) A initiates a transaction to send $MTV to B. This involves deducting $MTV from A’s account (X pays to A) and creating an output for B (A to B).
2) MultiVAC confirms A’s funds and initiates a settlement. As an analogy, it’s like moving money from one bank to another.
3) The process is divided into two phases, known as “Two-Phase Commit” (2PC). First, the $MTV is deducted from A’s account, and then it’s added to B’s account on shard 2.
4) Shard 2 checks whether it has received the necessary information, using mechanisms like clock vectors to maintain consistency.
5) MultiVAC ensures “monotonic consistency” and “read-your-writes consistency.” This means data is read and processed in order, avoiding inconsistencies.
6) This process enables cross-shard communication, and MultiVAC’s design principle is “final consistency.” It employs the “Two-Phase Commit” method for this purpose.
7) The network is divided into multiple shards, like CPU processing tasks. Each shard’s processing (computing, storage, transmission) is proportional to its actual operation volume.
8) MultiVAC’s sharding scales horizontally. Adding more shards increases the network’s overall transaction processing capacity.
9) The key advantage of MultiVAC is that the processing capability of each shard is directly related to its operation volume, ensuring scalability regardless of the number of shards.
10) MultiVAC also handles general data storage and has plans for developing a more complex smart contract system alongside its focus on transactions.
For further details on our cutting-edge technology, refer to the MultiVAC yellow paper or reach out through official channels for questions and clarifications.
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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