MultiVAC will soon launch its blockchain mainnet. This will bring the project closer to its goal of enhanced all-dimensional sharding and improved development abilities.
The upcoming mainnet release is the next major milestone for the development of the MultiVAC project. As of the end of May, roughly one month before the official launch, the beta mainnet had more than 400 million tokens staked.
According to the developers, this is an important time to bring visibility to their projects and purpose in the space.
The flexible network
MultiVAC is a flexible blockchain built around all-dimensional sharding. It’s a public protocol that seeks recognition for integrating large-scale decentralized applications and enhanced transaction speeds.
The KuCoin exchange pioneered the network’s native token MTV, which currently holds a value of $0.00435.
Mainnet ushers in a new era of development
For MultiVAC, the new era of the mainnet shifts the project from a design concept to a product ready for lasting interaction. Now, builders in the ecosystem have the ability to develop dApps and “high-throughput decentralized services.”
Prior to the mainnet launch, MultiVAC released a series of testnets to engage their growing community. The latest testnet 3.0, Oracle, dropped in 2020 with the intent of improving the base infrastructure and transmission efficiency. Oracle included functions such as asset transfers, updated address formats, and the ability to sign offline.
The mainnet builds off of the testnet features with some significant updates made to impact the DeFi space.
Two of the updates expected with the mainnet launch are compressed data transportation and native cross-chain features. The cross-chain component of MultiVAC will seamlessly allow those with ETH and BSC addresses to migrating over to MTV, the native asset of the MultiVAC network.
In addition to efficient cross-chain migration, the mainnet ushers in permissionless DeFi and low gas costs. This combination of features from the testnets carried over the mainnet highlights MultiVAC’s mission in the decentralized finance space – flexibility. The protocol centers on trusted sharding.
All-dimensional sharding for flexibility
The philosophy of the MultiVAC network plays off of multi-dimensional sharding for quick solutions. In a comment to BeInCrypto, MultiVAC CEO Frank Lyu spoke about sharding on the platform.
“You may know MultiVAC, as a high-throughput and flexible public blockchain platform, we proposed an all-dimensional sharding solution to increase TPS of blockchain, and MultiVAC is also the first one to propose a flexible computing framework, so the developers can trade-off freely about the blockchain trilemma on this framework.”
Once nicknamed “Sharding Killer,” the network uses the technology to create a fair and convenient way to lower the threshold for participation from stakeholders. The current starting point is for any user with 1 million tokens. At this rate, users can participate in the operations.
As for miners operating on the MultiVAC blockchain, there is a three-tiered incentive system of mining profitability. The first comes before the mainnet launch. In this phase, a 0.1% daily return is given for participation
Following the pre-launch rewards, the bootstrap reward comes into play after various phased goals are achieved, each of which is 5%. Then, of course, the third is standard mining rewards. The rewards are higher for those involved early on, evened out later by staking and the number of operators.
DeFi and NFTs in the spotlight
As new projects roll out in the decentralized space, many are looking to interact with two of the biggest trends: DeFi and NFTs. MultiVACs’ latest developments also touch on those two subjects.
“Basically, when we design the architecture, we prepare it in accordance with the general model, so the entire elastic framework has completely decentralized application capabilities. At the same time, the DeFi and NFT markets have become an indispensable part of the crypto world, and we have also made targeted optimization and support for this application,” says Lyu.
Disclaimer
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Be the first to comment