Kucoin has just announced the first IEO project on KuCoin Spotlight, MultiVAC (MTV). This IEO will be open for sale on April 3 at 21:00 (Vietnam time).
MultiVAC Token (MTV) Information
1. Token: MultiVAC (MTV)
2. Total supply: 10,000,000,000 VND
3. Total supply on Kucoin Spotlight: 600,000,000
4. Supported Tokens: KuCoin Share (KCS)
5. Price Ratio: 1 MTV = 0.006 USD (The actual price ratio of KCS will be announced on the day of Token sale)
6. Start time: April 3, 2019, 21:00:00 UTC+7
7. Ordering rules: First come, first served
8. Purchase Limit: For each KuCoin account, the minimum purchase amount is 180 USD and the maximum purchase amount is 3600 USD
To participate in buying IEO, your KuCoin account needs “KYC Verification“.
KCS price today. Source Coinmarketcap
What is MultiVAC?
MultiVAC is developing the world’s first blockchain sharding that is fast, efficient, and fully protected. Sharding is used not only for computation, but also for transmission and storage, maximizing throughput while maintaining decentralization, all without sacrificing security. MultiVAC has received $15 million in Round A strategic investments from IDG, NGC, Hashing, Signum, Arrington XRP, Dfund, ICODrops, etc.
MultiVAC’s design features are purpose-built to integrate with large-scale decentralized applications (dApps). As a core aspect of the protocol, developers can customize parameters for consistency, availability, and partition tolerance, providing a high degree of user autonomy over the infrastructure. blockchain layer.
Value of MultiVAC
MultiVAC takes a new scalability approach to large-scale dApp development through a sharding model called “Verifiable Random Functions” (VRF) for transactions, computation, and storage. . Transactions on the network are confirmed via UTXO, whereby miners are selected dynamically through a probabilistic model.
MultiVAC operates on the MultiVAC Virtual Machine (MVM), which includes the Blockchain Instruction Set Computer (BISC). BISC is a key feature of MVM that allows developers to decide how many nodes are required per dApp, choosing a large number for better security and a smaller number with higher throughput.
MVM now supports C compilation based on LLVM, with the ultimate aim of integrating other languages like Java and Go. As MultiVAC will become an open source ecosystem, the ultimate goal is to incorporate as many languages as possible for backward compatibility with existing applications.
To store and retrieve data, MultiVAC uses a mechanism based on both Hash and Merkle Roots, in addition to a sharded storage network based on the original VRF model. MultiVAC storage nodes contain only block header information, maintaining full transaction input and output in a distributed storage network.
MultiVAC uses a Proof of Command Exloyment (PoIE) consensus mechanism, which verifies computation fidelity in a manner similar to proof-of-copy. The PoIE consensus algorithm is embedded directly into the MVM, verifying each executed instruction. When a chain of instructions with enough gas is completed and verified, the node will issue the result of the calculation through the consensus mechanism and will receive a gas reward.
The basic logic of PoIE is that all nodes running on the network contribute a large amount of computing resources through hashing and random data processing, which causes the nodes to act more maliciously than in the benefit of the network. .
Token MultiVAC (MTV), providing a means of exchange of value in the ecosystem. Tokens incentivize compute and storage nodes to contribute resources for computation, storage, and data transmission. Nodes that contribute to both storage and computation receive higher rewards.
Frank Lyu (CEO & Co-Founder) he is a former Technical Director and data engineering specialist at Meituan-Dianping. Co-founder and CTO of Xinrenxinshi.com, the leading HR SaaS start-up in China with investment from Sequoia Capital. He is also a former Baidu employee.
Dr. Xiang Ying (CTO) is a former Baidu Software Engineer. Currently Associate Professor at Tianjin University. Received PhD in computer science from Nanyang Technological University, Singapore. An expert in parallel algorithms and general purpose computing. He became Tianjin University’s youngest associate professor at the age of 26 through the Youth Talent Plan and has published more than 20 papers in leading conferences and journals such as SIGGRAPH.
Claire Wang (CMO) is a former Marketing Manager at Xinrenxinshi.com where she served for nearly 3 years. Before that, she spent a year as Product Manager at Meituan. Claire holds a Master’s degree in Public Administration from Beijing Normal University.
In terms of Advisors, MultiVAC has highly influential advisors. Among them are Neo Global Capital’s Roger Lim, and Meituan co-founders Yang Jun and Chen Liang.
Strengths and opportunities of MultiVAC
One big advantage of MultiVAC is the degree of customization in the hands of developers. Flexible sharding means that dApps built on MultiVAC can operate according to any parameters set by the developers. Developers can choose their own parameters for consistency, availability, partition tolerance, and level of decentralization. The size of the shard is set through the contract creator; a higher number of allocated nodes for availability and security, while a smaller number facilitates higher throughput.
Developers also have control over other parameters such as the probability of forks and the amount of gas required for transactions.
The MultiVAC developer team is relatively new to blockchain, however their experience at top tech companies and universities is strong. Members of the development team include former Senior Engineers from Google, Tencent and Alibaba, as well as researchers from Harvard, Nanyang Technological University and the University of Sydney.
The developer team consists of 13 full-time members and plans to solicit support from the open source community as the project moves further. The team’s collective track record in the technology sector lends a high degree of credibility to their current work with MultiVAC.
MultiVAC’s Weaknesses and Threats
As a purpose-built blockchain for the development of large-scale applications, businesses will be able to form a significant portion of the target market. An important factor in this scenario is the level of product development, which is still at the MVP stage. The team intends to have a live testnet by the end of July 2018, which will provide an important stepping stone for collaboration with large-scale enterprise clients.
However, a specific development roadmap and go-to-market strategy have yet to be revealed, leaving these important questions unanswered.
MultiVAC offers a unique way to reliably protect with the inclusion of a storage solution, but projects like Zilliqa and QuarkChain remain significant competitors that can duplicate in their respective target markets. How MultiVAC positions the project in relation to competition will be critical to building a sustainable user base.
MultiVAC adds a dynamic new contender to the high-throughput protocol race. Features including flexibility for developers and the incorporation of components such as storage make MultiVAC a new solution for the large-scale dApp market. While the project is still in the early stages of development, the team and product concept are very strong.
White Paper: MultiVAC Tech Paper
Whitelist: Expression of Interest Form
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