Welcome back to MultiVAC’s Monthly Project Report. We appreciate your continued support and engagement. If you have any questions or suggestions, please feel free to reach out to us at core@mtv.ac.
1. Project Development Updates
We are pleased to announce that we have successfully performed an important upgrade of our node system. Following the recent upgrade, all the chain’s RPC nodes have transitioned to full archival nodes. An archival node contains the entire chain’s history, from the genesis block to the last validated block. It allows MultiVAC’s users to easily recall information and verify the integrity of past data and transactions. The enhancement ensures better data accessibility and reliability within the MultiVAC network. Additionally, we have implemented a new process to ensure that RPC nodes remain connected during future node upgrades, improving the overall stability and operability of our system.
2. Halving of Mining Rewards
As per MultiVAC’s pre-determined schedule, MTV’s mining rewards have been halved upon reaching a block height of 20 million. This strategy was designed to ensure a balanced and sustainable growth trajectory for the MultiVAC project. The reduction of mining rewards is an approach widely used in the industry, to manage inflation and to maintain a healthy ecosystem for all participants.
We understand that some of our investors may feel slightly frustrated by this strategy. However, we believe the true value of MultiVAC lies in its exceptional Product Market-Fit — and therefore in its growth potential.
We appreciate your understanding and continuous support, as we take this essential step towards MultiVAC’s long-term success.
3. Upgrade of our NFT marketplace
Exciting news for NFT creators! We have introduced a seamless process for importing NFT collections into MultiVAC’s proprietary NFT marketplace. This development brings new opportunities for exploring and trading, enabling a more vibrant and dynamic ecosystem for NFT enthusiasts.
4. Knowledge Sharing
In our previous report, we discussed the first advantage of MultiVAC. Now, let’s explore the second advantage in more detail.
To recap, MultiVAC offers four distinct advantages:
1. Low Entry Barrier for Miners: Unlike other blockchain systems, MultiVAC doesn’t require miners to possess high-end equipment. This significantly lowers the threshold for miners to participate in the network.
2. Decentralized Control: All storage computations and data controls in MultiVAC are entrusted to the miners. This ensures that ordinary miners can join the network, preventing the risk of centralization.
3. Enhanced Security with VRF: MultiVAC utilizes Verifiable Random Functions (VRF) to secure each shard. This ensures that the security of a single shard is on par with the entire network.
4. Horizontal Scalability: The processing capacity of each shard in MultiVAC is directly proportional to the entire network’s capacity. This allows for seamless and extensive horizontal scaling across all shards.
Now, let’s delve into the second advantage with a clearer explanation:
[Transcript: Second Advantage]
We have seen that storage nodes in MultiVAC cannot perform any changes, additions, or deletions to the data. Why is that? Because any such modifications would alter the Merkle Root, which is undesirable.
As a result, all data modifications are exclusively handled by the miners, while storage nodes do not possess the authority to alter the data.
To better grasp this concept, think of storage nodes as similar to infrastructure providers like Verizon and AT&T. They offer the underlying infrastructure but have no control over the nature of the data.
Just like how Verizon and AT&T provide broadband service to your home, the data flowing on that network is entirely determined by you.
This uniqueness is a fundamental characteristic of MultiVAC.
As I mentioned earlier, this is the second advantage. Storage nodes have a limited role of serving data and lack the ability to perform changes, additions, or deletions. The authority for all these operations rests with the miners, and anyone can become a miner.
The power always lies with the miners, so the storage nodes’ influence on the system is not a significant concern. There is no need to worry about centralization or malicious behavior from storage nodes since they lack the capability to act maliciously.
Their inability to act maliciously is based on mathematical principles rather than a lack of economic incentives.
Mathematically, it is impossible for them to act maliciously, and all decision-making power regarding the data resides with the miners.
To summarize, we have covered two important points. First, miners don’t need to maintain a complete ledger, making it easier for anyone to become a miner. Second, storage nodes have limited power and serve data without the ability to modify it. Think of them as obedient servants who won’t respond even if you strike them. These advantages set MultiVAC apart as a technology.
Please feel free to reach out to us if you have any further questions or would like more information about any specific aspect of our project. We appreciate your ongoing support and look forward to sharing more exciting updates in the coming months.
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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