Summary of MultiVAC AMA with Shawn Ying
We had an AMA with our CTO Dr. Shawn Ying at January 6th • 2:00pm UTC in MultiVAC telegram group, the following is a summary.
1. Can you please share what the 2022 Roadmap looks like for MultiVAC?
-I plan to release the roadmap in January or February. We have to rethink many plans, so please give me some time.
-We must communicate with everyone openly and frankly. After Frank left MultiVAC, as the main promoter and organizer, I am discussing how to build MultiVAC with my team and community members.
-MultiVAC will change, and I believe this is a revolutionary and creative change. This is a good opportunity for us to rethink the development strategy of MultiVAC, reflect on the bad things in the past, such as marketing, and seek improvement in the organizational structure and development direction.
-However, I can tell you that I will be more active in promoting MultiVAC, looking for media cooperation and ecological cooperation.
-Let us review the experience of MultiVAC in 2021.
-The mainnet has been online for half a year, and so far it has been very smooth without any major problems.
-At the beginning of the year, there were only about 3,000 people in this group, but now we have 12,600 people.
-In fact, in April 2021, our roadmap for 2021 is still chaotic, and we have not made plans for the second half of the year. But we gradually launched the mainnet, staking, MRC20, NFT marketplace and promoted a series of partnerships.
-In all the troughs of MultiVAC in the past 4 years, I have always been the firmest person in the journey.
-I wrote the White Paper and Yellow Paper of MultiVAC, and the Purple Paper was my idea, and my team wrote it for me. I am familiar with every detail of MultiVAC and participated in all major decisions. Compared to Frank, people in the community are more familiar with me.
-My English is not very good, but I wrote these by myself. English is the bridge that can bring you to our unique crypto world. Language may not be glamorous but trust us, MTV is 100% solid. Let’s make the year 2022 brilliant and different.
2. What will be our strategy around node operation. Can we have a conservative estimate on when they will be implemented? Will nodes have higher rewards vs just staking?
-I haven’t figured out the specific release time yet. The delay on decentralized nodes was truly due to the team looking for a solution that results in true equitable and fair decentralization.
-I talked about this a few days ago:
-The main reason is not technology, but facts. More than 80% of users may not be able to establish a node. Just like the vast majority of ETH users do not run ETH nodes. So we overturned the original project and designed a new voting method. We are also testing voting prototypes on mobile phones, and we hope to replace the original nodes in this way. But we are sorry that we have not fully verified the new idea, so we have not released it. But it’s not that I don’t want to publish. In the worst case, we can still release the client according to the original plan. From a business perspective, these unverified messages should not be published. But from a technical point of view, I hope to communicate frankly with you.
-There is no additional benefit for independent nodes. The chances of all nodes are equal.
-But I plan to introduce a new reward mechanism to thank long-term supporters.
-One is that we have determined that the 5 billion staking rewards will be issued in batches. We will issue 1% of the rewards each time at 4.2 billion, 4.4 billion, 4.6 billion, 4.8 billion, and 5 billion, and there will be no rewards for pending withdrawal
-In addition, we will also design an additional long-term stake reward mechanism.
-In the BTC cycle, long-term holders have received generous rewards. In the past few years, people who have supported MultiVAC for a long time have also received good returns. Therefore, we will design a long-term staking mechanism to prevent everyone from suffering losses due to price fluctuations.
3. Will you be the new CEO of MTV? Will the CTO role be replaced? Will you hire a CMO?
-I plan to build an organization similar to DAO. Just as Vitalik is not the CEO of ETH, MultiVAC does not need a CEO to centrally make all decisions. So I hope I am a technology builder.
-I will continue to serve as the CTO. And I will seek a CMO candidate. But it may be difficult to find a suitable candidate for such an important role as a CMO.
-If there are suitable candidates in our community, or some people who are willing to work part-time to help us in marketing, please contact Cici or me. We will organize a community-governed marketing group to make marketing decisions together.
-I plan to start DAO related organization work in Q1. Then strive to achieve partial decentralized governance of MultiVAC this year.
4. What is your plan to grow the MultiVAC Ecosystem? How will we attract developers to build on MTV having a modest ecosystem budget?
-We have many partnerships waiting to be announced.
-Rome was not built in a day. The construction of the ecosystem is long-term, and the strategy will change over time.
-We will have a hackathon and explore the ecosystem that suits us.
-Regarding the budget issue, this is a legacy of history. In order to cross the bear market, we must make trade-offs. But I think these funds are sufficient.
-If we really need it, I am even willing to give out my share of MTV to support ecological construction.
5. When are we going to update both our team page and Github? These are two critical points for new investors. We can’t expect to grow much without these being updated.
-My answer may not be particularly in line with everyone’s expectations.
-In the protection of the team, and considering the stability of team members, we do not intend to do this.
-I know that many people question why we don’t make the team list public. But practice has proved that publicizing the team list will bring a lot of unnecessary trouble.
-For example, team members are harassed.
-So I insist on not disclosing the list of team members, I hope everyone understands. A stable construction team is the most important.
-As for github, after our code went live on the mainnet and fixed several small bugs, we arranged a security audit.
-But since October last year, the audit company has been very busy, so the audit company has not yet given us the final report.
-The code of MultiVAC is so huge that even the security auditing company say they cannot fully take care of it.
-The plan I expect is this:
-After the audit company gives a report, we need to perform security upgrades again, and then wait for the audit company to reconfirm, and finally open source.
-By the way, to answer another frequently asked question, about when the exchanges will support Mainnet token, I think it is a similar answer.
-I don’t want to make a fork like ETH/ETC, so we need to be cautious.I hope you guys can understand my caution.
6. What is the status of the hackathon?
-We have good news. We have signed the cooperation agreement on hackathon.
-A very well-known organization will undertake the hackathon. They have undertaken hackathons for many top big projects.
-Due to holidays, the hackathon will be postponed to March. It is expected to be a continuous activity lasting two to three months. Let us look forward to it together.
7. When can we see the awesome results of our mainnet data? Can we do some stress test to show how excellent our blockchain runs so we can showcase that off vs other chains?
-Note that MTV is a flexible blockchain.
-MultiVAC has the capacity to expand, but it has not been fully utilized now, because we simply do not have such a large demand.
-Therefore, the current MultiVAC machine performance is very low configuration (more than 20 nodes share a server).
-When there are more and more users, the nodes will become more and more decentralized.As the network grows, it will carry more load capacity.
-To be precise, it is when the node has a basic hardware environment. Now that our needs are not big, we have drastically reduced the hardware configuration. The current tps is too low, so that one of our nodes uses less than 200MB of memory, and we did not increase the memory.
8. Do we have any update on MTV.ART***?***
-Yes we do. MTV.ART is a community project designed and promoted by some community activists.
-MTV officially provided all the funds needed for development and servers, but we do not directly develop this project.
-As far as I know, MTV.ART has completed most of the development work and will be launched in Q1. The specific release date has not yet been determined, but it may be next month. You can wait for further news on the specific release time.
-At present, more than 30 NFT projects have contacted us, hoping to go online to MTV.art. This is a more complete nft platform with richer functions.
9. Do we have plans for an official DEX? What about stablecoins/wrapped tokens?
-Yes, we have plans. And we will have a lot of good news in this regard waiting to be announced. You will see it soon.
-We just announced the cooperation with RelayChain, and we will partner with larger wrapped token providers and stable coin providers in the future.
10. When can we expect MultiVAC to start sharding and utilize its actual tech. What is the plan to increase the number of transactions on the blockchain?
-It is not me who decides sharding, but everyone. When more people use MTV and more applications are deployed on MTV, shard-split is needed.
-I don’t think we need to pursue more transactions at this stage, even if it is, it is fake. You can rest assured of MultiVAC’s processing capabilities.
-The important thing is how we find real applications, real transactions, and real values.
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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