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
This report will highlight key areas of focus in the past month:
Project Advancement:
The MultiVAC Foundation focused mainly on strategizing and laying the groundwork for future initiatives. Although those developments weren’t visible to our investors, the team worked intensively on internal planning, research, and team-building activities to set the stage for the advancement of the MultiVAC project.
Recognizing the significance of a skilled and diverse team, the MultiVAC Foundation recently sought to expand the number of brilliant minds participating in the finalization of the first blockchain truly usable at a real-world scale. New talents were hired in key areas like software development, cryptography, and blockchain research.
The team now boasts a stronger workforce, poised to tackle upcoming challenges and expedite the project’s advancement amongst the most trusted base-layer blockchains.
Architecture Enhancements:
The team delved into the architecture of MultiVAC to enhance its scalability and performance. Through rigorous testing and analysis, we identified certain aspects that could benefit from optimization. Consequently, the team devised strategies to address these concerns and initiated the implementation phase. These architectural improvements will lay a solid foundation for future scalability and mass adoption.
Consensus Mechanism Research:
Recognizing the importance of the consensus mechanism in blockchain technology, the team spent considerable time researching and evaluating various approaches. Our goal was to identify the most suitable consensus mechanism that aligns with the project’s vision. The research involved comparing and analyzing different algorithms to determine our performance, security, and decentralization characteristics.
Conclusion:
Besides ongoing technical optimizations, the MultiVAC Foundation ends July in a stronger position — strategically positioned with an expanded workforce. These endeavors lay a solid foundation for future progress, ensuring MultiVAC’s position as a cutting-edge blockchain platform capable of handling complex decentralized applications at scale.
Knowledge Sharing
In our previous report, we covered two advantages of MultiVAC. Now, let’s dive into the third advantage in more detail. As a quick recap, MultiVAC offers four distinct advantages, as mentioned in the https://multivac-global.medium.com/multivacs-may-2023-monthly-project-report-5e4ebbd2a400
Let’s now delve into the [Third Advantage] with a clearer explanation:
This part discusses the concept of sharding in blockchain technology and highlights the differences between sharding, side chains, and multi-chain projects. It emphasizes the importance of ensuring security within each shard of a sharding project.
To summarize:
1) Difference between side-chains and multi-chain projects: In a sharding project, miners can serve different shards, whereas, in side-chains and multi-chain projects, specific groups of miners typically serve specific shards permanently.
2) Security concern: If the same group of miners consistently serves a single shard, there is a risk of compromise. This problem is unsolvable, especially in side-chain and multi-chain projects where each shard has only a few miners serving it.
3) Innovative approach of MultiVAC: MultiVAC uses Verifiable Random Function (VRF) to randomly select miners for different shards, preventing collusion. Additionally, MultiVAC dynamically adjusts the allocation of miners across shards every few minutes to prevent corruption and enhance security.
4) Flexibility of miner switching: Becoming a MultiVAC miner is low-cost, requiring knowledge of the Merkle root. This allows for easy switching between shards. By using VRF for dynamic adjustment, miners can switch shards within minutes at a low cost.
5) Security of MultiVAC: The security strength within MultiVAC’s sharding is equal to the security strength of the entire network. Attacking a single shard is equivalent to attacking the entire network, making the blocks generated within each shard highly reliable.
In conclusion, MultiVAC’s sharding approach offers advantages in terms of security, fairness, and flexibility compared to other sharding, side-chain, and multi-chain projects.
We appreciate your patience and understanding during this period of market uncertainties. Our team remains dedicated to pushing the boundaries of blockchain scalability through the project. We are confident that our efforts will yield significant advancements in the near future.
Thank you for your continued support, and we look forward to sharing more progress with you in the next monthly report.
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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