MVC 10K+TPS World Record Co-Creation
The total number of generated TX exceeded 1400w+
TPS breakthrough 11000+
Successful public verification to the Web3 ecosystem
that MVC is a scalable, layer-1 Web3 blockchain
capable of carrying billions of users with extremely high performance
More than 2,000 MetaIDs participated in the co-creation
Congratulations to all the history makers👏👏
All the TX data are public on the chain, and you can verify the blockchain browser at mvcscan.com . Now the browser is still updating. We have eliminated all the fake data from misbehavior users.
TX generation rules adjustment
Because of this event, we saw a huge spike in TX, for the sake of the event results, we have changed the rules that originally “one click is for 10 TX” to the rules that “one click for one TX”. The detailed illustration is below:
- This adjustment won’t affect the final award shares.
- This adjustment won’t affect the test results. The original design is to prevent not enough TX amount so the pressure test might not be satisfactory. We have tested hundreds of thousands of transactions that the MVC can reach 10,000+ TPS.
- We have achieved the testing purpose of this event, including the 10,000 TPS world record, and actual TX, the performance latency, and node running issue. If we continue to execute the plan, it will just cost more at no benefits.
Thank you, everyone. Our development team will continue to optimize the node, and meet the mainnet environment’s transaction requirement.
What’s the difference between the smart contract in MVC and those in Bitcoin and Ethereum?
MetaContract is a contract framework based on the UTXO model of the MVC Blockchain. Compared with the existing contracts base on the global state, it has the following advantages:
● Scalability
Different UTXO contracts can be executed and verified parallelly in MVC nodes. It can take full advantage of the multi-core modern computers to achieve a high speed of contract execution, which means the TPS of the MVC contract can be exceedingly high.
● Low Latency
By virtue of the MVC’s zero-confirmation feature, the result of contract execution can be returned as soon as the TX enters the mempool of the miner nodes without waiting for its confirmation.
● Security
Due to the blockchain dependency of UTXO contracts, the TX execution sequence of the same contract can be guaranteed, thus making MEV (Miner Extractable Value) impossible. At the same time, as the way UTXO contracts invoke each other is different from the one of those contracts based on Global State, some security threats like Re-Entrancy Attacks, will not occur on MetaContract.
When and How the 100K $SPACE will be distributed?
World record co-creators will share the prize pool based on the ratio of generated transactions (Times of clicking). Rewards will be distributed to your MetaID account within 7 working days after the event. The reward will be distributed directly to your MVC-Showmoney wallet. You can swap the reward to the Mainnet coin in a specific ratio after the launch of MVC Mainnet.
MVC-ShowMoney：
https://gray2scale.showmoney.io/
