MultiVac ICO Review by Coincrunch

MultiVac ICO Review- A High-Throughput Flexible Public Blockchain Based on Trusted Sharding Computation


MultiVAC is aiming to provide unlimited and sustainable scalability by proposing a new sharding model combined with Verifiable Random Functions(VRF).

PROS

  • Extremely solid team academically and technically
  • Unique approach to solving the “impossible triangle”
  • Strong partners and advisors

CONS

  • Tokenomic Structure still in development
  • MVP hasn’t been released

After some level of research about blockchain technology, you will have noticed that in order to become global, the crypto-space & its technology desperately need to develop a secure, decentralized and scalable product.

The dilemma is that in order to achieve one of these desired results it seems inevitable that a compromise has to be struck. It is a well known fact that in the blockchain space these three traits/qualities has coined the phrase “impossible triangle”.

This is not uncommon as it also exists in other spaces including project management which has the concept of quality, time and cost – it’s not an easy task to deliver all 3 – usually there is a compromise on at least one of them and as we have come realize – the blockchain is no different.

As a Coin Crunch reader, you will remember this picture from our QuarkChain review.

You can pick two of them, but nowadays it is near impossible to have the whole “trilema” present.

The next diagram will analyze the current blockchain projects trying to solve this challenging triangle, and where they may be failing.

As a matter of fact, because of this difficulty in finding balance, tons of resources and money are being spent in development without an efficient, real-world tested solution.

This leads us to our new project in for review –  MultiVAC. MultiVAC is aiming to provide unlimited and sustainable scalability by proposing a new sharding model combined with Verifiable Random Functions(VRF).

Their sharding mechanism will be used to execute smart contracts and to process transactions.

These transactions will be confirmed with dynamically selected miners, based on the classic UTXO model.  This model, if you recall, is the model that Bitcoin is based on.

They will also implement a tool that will allow developers to find and choose their proper balance within the “impossible triangle”, the possible tradeoffs being: consistency (security), availability (scalability) and partition tolerance (decentralization).

This tool will be in the form of a computational model specifically designed for smart contracts.

They are seeking to the ideal blockchain solution serving as the first and primary layer of a public diversified blockchain ecosystem.

With the tons of information and projects out there to navigate the best way to stay informed is by joining our community 🙂 Enter, share and enjoy!


Problem

As we said above, the primary issue with most blockchain solutions is the inevitable tradeoff and design decisions that need to be made around, security, decentralization and scalability.

Multivac is looking to create a solution that gives the developers the means to control the elements of the “impossible triangle” giving them the flexibility to emphasize specific characteristics and adjust them to suit the dApp they are developing.

Now that we have some background on the problems and understand the characteristics of some of the leading blockchains, let’s dive into the solutions that MultiVAC are developing.


Solution

So what are the key features behind the technology that MultiVAC are implementing.

  • Trusted Probability Model
  • Ledger Transaction Sharding
  • Flexible Computing Mode
  • Byzantine Consensus Family
Trusted Probability Model

MultiVAC is using a probability model that can be used to ensure that the node can be trusted to do the right action on behalf of the network before the action is completed.

This is similar to trusting your good friend to do what is in your best interest and that they will not be a “bad actor” and try to harm you.

Ledger Transaction Sharding

Multivac is using an inexpensive method to split (shard) the transactions across the network to improve the total performance of the system without the need for “expensive” fees

Flexible Computing Mode

Multivac will be implementing a system that will allow the network throughput to continually improve as the network expands.

Byzantine Consensus Family

Multivac will be implementing a byzantine consensus model that will be used to reach consensus within their sharded network layer using their verifiable random function (VRF) to select bookkeeper nodes on the network.

In today’s main feature we will be look at the consensus mechanism in the MultiVAC ecosystem and how it interplays with transactions on their network..


Main Features – Tech Overview

Transactions and Consensus

MultiVAC’s sharding is accomplished by applying Verifiable Random Process(VRF) to the node selection. VRF is a random number generator used to select the miner on the network as all as to validate challenges. The framework in which VRF operates is:

  • Probabilistic Correctness
  • Unique Provability
  • Residual Pseudorandomness
  • Unpredictable Numbers – Verifiable Unpredictability Function(VUF)

MultiVAC’s use of UTXO solves synchronisation issues alongside that, each transaction is shared by the network into different shards into its random account number as mentioned above. As funds are spent they are confirmed/deemed available in the UTXO mechanism and not when they are received. Each UTXO transaction takes one or more previously confirmed transactions as input and produces an output, therefore no processing is needed by the recipient.

MultiVAC dynamically adjust the miners of the shards in their UTXO mechanism, this is to avoid attackers and attempts to double spend on their network. Additionally by using in-node consensus algorithms like PBFT or asynchronous BFT the team will insure that attacks are harder to execute on the network.

In summary MultiVAC plans to use VRF to construct a probability model that splits user transactions and miner nodes into shards and then uses UTXO and the Byzantine consensus family to reach in-shard consensus.


Team + Advisors

Dr. Ying Xiang – Algorithm Researcher

  • Dr. Ying Youngest Associate Professor of Tianjin University.
  • Skills: Expert on Parallel Algorithms.
  • Holds Ph.D in Computer Science of Nanyang Technological University.
  • Has over 20 Publications.

Dr. Tong Xiao – Algorithm Researcher

  • Dr. Tong is a researcher in the field of probability, machine learning and big data.
  • Skills: R&D of quantitative trading strategies in top hedge fund.
  • Holds Phd in Statistics of Harvard.

Dr. Li Ge – Algorithm Researcher

  • Dr. Li is a quantitative strategist in top international hedge funds.
  • Skills: Expert on group theory and cryptography.
  • Holds Ph.D in mathematics at University of Sydney.

Dr. Sun Hong – Algorithm Researcher

  • Dr. Sun is currently an application scientist at Microsoft Research (USA).
  • Skills: Expert in AI.
  • Holds Ph.D of Microsoft Research Asia and Tianjin University (MSRA-TJU) co-cultivator.
  • Postdoctoral of Microsoft Asian Institute.

Dr. Zhang Minqi – Algorithm Researcher

  • Dr. Zhang is an expert on the application of modern topology and applied mathematics in the computer Science.
  • Holds Ph.D in Computer Science of Nanyang Technological University.

Lu Koupin – Algorithm Researcher

  • Lu is currently a senior engineer of Google Maps.
  • Skills: Researching, number theory and game theory at Maths department at Nanyang Technological University.
  • Holds Masters Degree at Stanford University.

Lu Junyu – Algorithm Researcher

  • Lu holds B.Sc in Physics from NTU.
  • Also holds MA in mathematics from McGill

Lu Heng (Frank Lyu) – R&D Engineer

  • Lu is a Technical director and data engineering expert of Meituan.
  • Also a Co-Founder and CTO of Xinerxinshi, the outstanding HR SASA entrepreneur in China holding investment from Sequoia Capital.

He Liang – R&D Engineer

  • He is an Architect of Pinterest and Facebook.
  • Also a Senior Engineer of Tencent.
  • Skills: Export in large-scale distributed systems.

Wu Jiajun – R&D Engineer

  • Wu is a Senior engineer of Google Maps.
  • Skills: Number theory, game theory in Mathematics.

Dong Zhong – R&D Engineer

  • Dong is a Senior Engineer of Google in Android Search area.
  • Skills: Expert on big data of Meituan.

Li Yuan – R&D Engineer

  • Li is the Technical director and Senior Engineer of Google Local Ads.

Lu Lu – R&D Engineer

  • Lu is the Senior Engineer of Thunder, Meituan and Alibaba.

Wang Chen – Marketing

  • Wang is the Marketing Director of Xinrenxinshi. Also the Co-Founder of Julixingang.
  • She created the first new-media  and community brand in vertical field of human resources in China Covering more than 1 million HR professionals.

Yang Jun – Consultant

  • Yang is the Co-Founder and VP of Meituan, Co-Founder of Renren, Fanfou and Haizeiwang.

Roger Lim – Consultant

  • Roger has a massive collection of blockchain project experience:
    • Founding Partner of NEO Global Capital.
    • Advisor for Bluzelle, Qlink, CoinFi, Self Key, The Key, Tomocoin, 0 Chain, Switcheo, Open Platform and n0S.

Chen Chang – Consultant

  • Chen is the Co-Founder and CTO of INK chain Senior researcher at IBM
  • Author of the book “Blockchain Principle, Design and Application”.

He Ying – Consultant

  • He is a Tenured Associate Professor of Nanyang Technological University Expert on Computer Graphics, Parallel computing & topology.
  • He has 70 Publications.

Lai Binqiang – Consultant

  • Lai is Vice-President of Meituan, leading the IT, admin and government relations Department. He also is the Co-Founder of Renren, Taofangwang.

Chen Liang – Consultant

  • Chen is the Co-Founder and Senior VP of Meituan and CO-Founder of Renren, Taofangwang

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