The First Community AMA Review
Dear community, we decided to hold AMA regularly in the group to answer the community’s questions, so that everyone can know the progress of the project more timely and better understand the MultiVAC’s technology.
Dear community, AMA starts！
We’re going to：
- The 3 co-founders will answer 12 pre-collected questions (about half an hour);
- For the remaining 20 minutes, you can ask questions freely.
Question 1: In an interview with Crypto Bazar, you had mentioned MTV would do another IEO in Korea. Is this still in the works?
Claire: MultiVAC Token Sale is all completed. The original plan was 7% public allocation, of which 6% was in KuCoin SpotLight and 1% in Korea. However, because of the first round on KuCoin Spotlight was too hot, there were more than 16,000 people participated with only about 1,600 people succeeded. To thank so many supporters involved in the token sale, we decided to allocate the last 1% tokens to make a special round on Kucoin purchase, and we reduced the hard cap so that more supporters could participate. In the end, another 5000 ppl won the second round.
PS, no need to worry for Korean friends. They also participated in KuCoin. Also we keep working on publicizing MultiVAC and expanding liquidity specifically for the Korean market.
Question 2：How are you going to capitalize partnerships e.g Blockcloud? How will it benefit MultiVac in a long term perspective and how it can carry blockchain adaption? As we may know, a lot of projects have built partnerships but it doesn’t really carry blockchain adaption, they just have partnerships as it sounds and looks good.
Claire: I totally agree with you that many projects have been cooperated with each other recently, especially some of the popular IEO projects. In fact, this also reflects that these IEO projects are in the same better level.
But to be honest, the partnership between MultiVAC and BlockCloud is different. Actually, we signed a strategic partnership agreement as early as last year, and have made a lot of technical and project communication.
From the aspect of underlying tech, MultiVAC is the base-layer protocol of blockchain and the TCP/IP where the Blockcloud located is a slightly higher layer of content service protocol. The combination of the two underlying protocols can provide a very solid underlying network for the blockchain application world. Therefore, the partnership between MultiVAC and Blockcloud is not only at the PR level but also at the technical level.
Question 3：What are plans of MultiVAC?
Claire: Short-term plans include:
Smart contract and state sharding purple paper will soon be released. This is MultiVAC’s 3rd academic and engineering paper, and it will also be the world’s first-class blockchain smart contract design scheme.
Next, testnet 2.0 with PC mining clients to meet with you, welcome to participate in the test and pre-mining activities;
At the same time, we will invite the community to discuss and make decisions on the MultiVAC economic model.
For long-term vision, we hope that MultiVAC will become the next generation of blockchain that subverts the world again, adhere to the decentralization value and encourage more nodes and users to join conveniently. Meanwhile, we want to greatly enhance the supportability of the blockchain to the real world, so that mainstream commercial applications can be built on the chain, and truly build a code-law trust society!
Question 4: I want to know that does MTV has any plans for future application scenarios? Such as stock exchanges or e-commerce platforms.
Question 5: How do you plan mass adaption for MultiVac blockchain and how will you compete with other high tech blockchains out there? We know that we have hundreds/thousands of blockchain projects currently in the market.
These two questions are very similar, so please Frank to answer them together.
Frank: First of all, I will answer “How do you plan mass adaption for MultiVac blockchain,” which is answered in our OnePager. MultiVAC’s two advantages, Innovative Flexibility and All-Dimensional Sharding can adapt to large-scale applications.
MultiVAC pioneers flexibility for DApps to trade off freely on the impossible CAP triangle between decentralization, performance, and security, supporting large-scale decentralized commercial applications for complex and diverse business requirements. We provide a novel approach for blockchain to reach industrial capabilities.
Therefore, the greatest competitiveness of MultiVAC lies in our all-dimensional sharding solution and the research capabilities of the entire team. Also, our Smart Contract Purple Paper has been designed and will be officially released soon.
Next, let’s talk about our application scenario, in two aspects:
First, it is a solution scenario oriented to enterprise services. Blockchain is the best technology to build machine trust between alliances. We have reached preliminary intentions to cooperate with some local governments to promote the data on the chain of local industries, create more efficient open platforms and empower real industries. Because of the cooperative relationship, we can not disclose details with you at present.
Second, it is user-oriented decentralized application construction, which is also the most important part of the ecological construction of the whole blockchain. We have incubated our first DAPP project internally. Unlike hundreds of DAPPs on another platform, we encourage developers to build applications on the public chain while incubating high-quality DAPPs in depth. The best direction is native digital world content, such as social, communications, music and so on. Such a DAPP will be visible and tangible to all and will integrate the incentives of the passport, and it can form a positive cycle.
Question 6: MultiVAC seems to talk less about block confirmation time. Could you talk about this?
Frank: It’s an excellent technical question. There are 3 significant indicators for a blockchain system:
1.TPS, transactions per second, bitcoin is 5, Ethereum is 10, MultiVAC is over 30,000;
2. Time of block output： Bitcoin is 10 minutes, Ethereum is 15 seconds, we are in 10–20 seconds.
3. The confirmation time, Bitcoin and Ethereum are 6 blocks, so the confirmation time is 1 hour and 1 ~ 2 minutes, respectively. We will confirm when it comes out.
Because we are all-dimensional sharding, transaction confirmation needs to consider intra-shard consensus and cross-shard consistency. In a single shard, we can reach an agreement quickly through the Byzantine consensus family, and in cross-shard confirmation, we ensure the final consistency through two-stage submission, so the whole confirmation time is 10–20 seconds, which can meet the needs of commercial applications.
1. After release the MTV mainnet, what are the conditions for participating in mining, and the number of tokens that we need locked, and the configuration of mining machines?
2. When will the relevant SDK be released after the MTV mainnet released?
3. What language is MTV’s smart contract written in?
Frank: 1. The details haven’t worked out yet, the expected mining machine configuration is equipped with a dual-core CPU and a 4 GB memory PC, you can become a miner with that.
Now we are still further developing our code, even if your computer has 1GB of memory in the future, it will be enough as a miner, then you open the computer mining and will not affect your normal work.
2. Our related documents have been compiled and improved, and they are expected to be released after the mainnet is running stable.
3. We support Turing’s complete smart contract language, including C/C++ and so on. Of course, we will integrate more commonly used advanced languages into languages in the future.
Question 8: Dfinity and Algorand all have flaws in VRF, hackers may be able to predict the generation of random numbers. Does Multivac propose any improvement plans?
Shawn: Algorand’s VRF is generated by each node independently and silently, and it is not generated in a distributed environment. Algorand’s VRF, if you think about a silent generation and use it well, and use it for some special purpose, I think it’s safe enough.
Then Dfinity does come into being in a distributed environment, but I think its most significant problem is that the initial DKG Key Exchange is almost impossible to fulfill in a real decentralized network.
MultiVAC’s VRF, which is currently used in a silent manner, is similar as Algorand’s. As long as it is used well, there should be no potential safety problems.
Question 9: I’ve read a long article in 8btc forum, it is saying that the Ethereum is declining and that sharding technology is useless. Does sharding technology really belong to the future of public chains? I remember that your CTO said that he expects to see Ethereum 2.0, what is the difference between Ethereum 2.0 and the original? And what are the advantages of MultiVAC over Ethereum 2.0?
This is the long article: https://m.8btc.com/eth-1tb?from=singlemessage&isappinstalled=0
Shawn: I saw the title of this long article is that the Ethereum ledge will exceed 1 T soon, yes, so it is a significant problem. If you only shard transaction, it does not have much difference. So you also need to shard all levels of computation, transmission, and storage. MultiVAC’s advantage is an all-dimensional sharding solution, and we can guarantee that the amount of data stored by a single miner is so small that they can exercise their rights.
Question 10: A recent code review by Andre Conje — https://cryptobriefing.com/multivac-code-review-dimensional-sharding/ shows that your VDF function is still only a mock and has not come to fruition. Doesn’t this contradict the statements you’ve made on your progress?
Shawn: The thing is, we have many GitHub repos and Andre was reviewing an old one, which we built 8 months ago, but in fact, our VRF latest code, is under the MultiVAC repo. So this misunderstanding arises.
We have sent Email to Andre about this, explained that our new code is all under the MultiVAC repo. Then the function of VRF has already been developed, and our testnet is running smoothly now.
Question 11: The choice of economic models is crucial to the public chain. How will MTV motivate miners? Are the objects of incentive is transferring fees, computing resources or computing storage space? Or all of them? When is the first draft of the economic model expected?
Shawn: The object of the incentive model is transferring fees, computing resources, and storage space, all which should be considered as a universal model.
Other information has not yet been finally confirmed and released. Before the official announcement, we would like to discuss with the community about the economic model. Please pay attention to our official announcement and biweekly.
The 11 questions have been answered，if you have any more questions, feel free to ask in the next 20 minutes.
1. When will the innovative flexibility come out？
Shawn: We plan the smart contract will be provided after the test network of Q3 and will be joining the main network when stable. And we still need excellent technicians to join us now, welcome to recommend them to us.
2. Is there a penalty mechanism for withdrawing without reason while mining?
Shawn: There is no penalty, but for security reasons, the deposit will be delayed.
3. When are you going to develop DAPP?
Frank: DAPP has been incubated internally and will be a top-quality idea. It won’t be large and complex，with hundreds and thousands of functions but nobody uses it.
4. The yellow paper says that different consensus can be used, is it more complicated than using the same structure of the public chain? Why do you choose this way?
Shawn: We mainly consider that different consensus security thresholds and interaction costs are different. For example, PBFT can be used for 21 supernodes, 500 nodes can usually use multi-signature BFT, but 2000 nodes cannot use BFT, you can only binary Byzantium at that time. Considering the elasticity, we need to use different consensus under different scales of shards. But it’s not complicated, because it’s basically pluggable. It’s just a matter of putting in which consensus.
5. Does the team have the design of OnChain-Governance?
Frank: We choose the market mechanism in the design mechanism.
Frankly speaking, I don’t believe in the centralization solution of EOS, this always leaves the problem to the community.
We hope to build a community of developers according to the incentive system of calculation, storage and transmission and smart contracts supporting elastic computing.
The decentralized world should choose a decentralized mechanism, machine trust is advanced instead of human trust.
Is there anyone heard the OnChain-Governance of the Bitcoin?
Follow-up: Maybe there is no governance concept for the Chinese, but Maker DAO and Tezos have OnChain-Governance, which is so meaningful.
Frank: I think there are 2 different and correct thoughts. The computational nature of the blockchain is a von Neumann architecture that can be separated from a particular computing device, which is a trusted computing paradigm that can be proved to third parties. This supports the self-certification of the business logic on the upper-layer application and brings the trust that can be calculated to the world.
The most essential core of the blockchain is the construction of trust and the spread of value. I respect “ruthless promotion of automation” rather than rely on processes and people when I was an engineer. Obviously, the machine and program wouldn’t be perfect sometimes, thus, we need the corresponding strategy, which is reasonable. : ）
Follow-up: By the way, do you lead the update and fork after starting Main-net?
It is impossible that MultiVAC is perfect when begins. Some technical decisions are integrated into the consensus vote.
For example, a piece is split into two pieces, which we solve by consensus voting.
Shawn: we will reserve the interface when updates start.
6. How many nodes do you have? how much is every shard? What should I do if it crashes?
Shawn: This is a good question, we expect that there are tens to hundreds of Active storage nodes per shard at least, as well as some silent storage nodes.
“Silent” is just storage without external service. The existence of these nodes is not to expose the port, no one knows that they are silently stored.
When the storage nodes on the bright surface are all attacked, they can stand up and save the world. Silent’s storage nodes are unknown.
7. If I need to store a large amount of data (such as storing a user’s video file), can I store it directly on the MTV Main-net?
Shawn: The current testnet version is temporarily not supported. However, it can be supported as our long-term planning.
Frank: Our storage node processing processes and scenarios can be abstracted into a distributed database, even building an SQL layer can be used as a database on it.
Therefore, it is feasible. But the development progress should be done step by step.
8. What do you think our community can contribute to your project?
Shawn: We hope the community could help us to design the incentive model.
9. What are your expectations for MTV price?
Frank: Good question. haha. But I think no one can control the market and the price. I think the price has a strong relation with true value and the core tech.
10.Tokens distributed already?
Frank: yep . for public sale \ ecosystem \ foundation at the beginning. you can see our metrics here: https://medium.com/multivac-foundation/multivac-token-sale-metrics-completed-thank-you-aabb8063f054
11. I know a project that claims they can do 80 000 TPS with under 3 seconds validation. Can MultiVac exceed this in the future?
Frank: it makes no sense about the exact number of TPS. but we achieved the horizontal scalability, it means we can be more TPS by more shards.
12. What region of the world are you most focused on for building your developer community? And saying all regions is not a good answer. Have to start with a focus.
Shawn: We are starting from East Asia, Russia, and Silicon Valley
Frank: US, EU, China, Singapore, Korea, Japan.
Thank you again for everyone who asked questions in AMA. With your follow and support, we will be able to get better!
This is our question collection link for #SecondAMA. Before #SecondAMA starts, you can comment with the questions you want to ask, the selected questions can still be rewarded with 200 MTV. Thank you for your support.
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