It is clear the priority of transaction using blockchain technology is security. At present, the most popular global network in this field is Bitcoin. However, the scalability of Bitcoin is quite limited, just about 7 transactions per second (TPS), the scalability of Ethereum is 10 TPS. This limitation has resulted in increasing transaction fees and delayed processing of transactions. In fact, until today, there is no blockchain has achieved all three elements: decentralization, security and scalability at the same time. Understanding this problem, MultiVAC wants to be the first blockchain solution to achieve all conflicting variables through a sharding model.
What is MultiVAC? How does it work?
MultiVAC is a next – generation high – performance public blockchain for industrial – scale decentralized applications. Developing the first fully sharded blockchain with sharded transmission and storage, its objective is to break through the limitations to blockchain scalability. Decentralized applications running on MultiVAC can determine the number of nodes on which the wish to run their code. Furthermore, with the same node scale, MultiVAC can achieve two orders of magnitude credibility and over 10000 times TPS as bitcoin, which fully meet the needs of large – scale applications. With its flexible computation, MultiVAC can allow DApp developers to trade off between the impossible triangle of decentralization, scalability and security. It will separate transactions and smart contracts, provides an optional slide of CAP for Dapps to make their own infrastructure of performance and decentralization level.
Moreover, when launching the testnet, MultiVAC has successfully achieved 30,784 TPS using 64 shards, with single shards reaching 533 TPS. See video demo and this blog for more info.
Potentials of MultiVAC
The biggest advantage of MultiVAC is its experienced team, with many talented and professional members who worked for Google, Pinterest, Facebook, Thunder, Alibaba and Meituan, MultiVAC is expected to be successful. Besides, their team is supported by capable and acknowledged advisors as well as receives the capital from a wide range of investors.
Secondly, in comparison with other blockchain platforms, with its flexible computing model, MultiVAC allows user to customize the deployment of their decentralized application on the blockchain.
Finally, MultiVAC has successful launched the testnet with impressed achievements, which makes their project become popular in blockchain community.
Challenges for MultiVAC team
The main objective of this project is to balance three components, especially improves the scalability of the blockchain. However, the competition is this field is very strong. Before MultiVAC, there are several blockchain projects having the same idea (Zilliqa, QuarkChain). As a result, it will be very challenging for MultiVAC team to leave an impression on people.
Another disadvantage of MultiVAC is that block rewards are not well defined in their whitepaper. Their team still hasn’t defined clearly how much rewards would be given to their users.
We all know that the most important thing of blockchain technology is security. Therefore, it will be very important to balance three elements, if MultiVAC pays more attention to improve their scalability, it won’t be an effective blockchain.
Finally, apart from receiving the capital from big investors, there is not much information about their Token sale, which makes it hard for small investors to get access to this project.
From the idea, the team as well as the advisors of MultiVAC, we can see this is a very promising project. With the success of sharding technology from previous projects, MultiVAC will have more chances to be successful and have better outcomes. However, it will take them a long time to prove MultiVAC can create a complete blockchain system which can achieve decentralization, security and scalability at the same time.