MultiVAC Targets Triangle of Blockchain Issues
In our Quick reviews series we introduce interesting initial coin offering projects that might inspire you to do your own research and decide whether an idea and its development is worth your investment. It’s not an endorsement.
Today we are looking at MultiVAC.
What problem(s) does it target?
MultiVac tackles one of the fundamental problems of blockchain as a technology. It says that blockchain is stuck in a triangle between decentralization, security and scalability, and that startups have to sacrifice one to have the other two. It argues that both Bitcoin and Ethereum are ‘completely unscalable’. MultiVAC looks to solve the fundamental problems of how to create shards from network nodes for transaction and smart contract processing in a trustworthy manner, allowing the network to scale; how to process transactions and update records using trusted shards in the use case of transaction processing; and how to verify the correct and honest execution of smart contract code by network nodes in the use case of smart contract processing.
Who the team members are?
The team comprises of people with Ph.D.s in computer science, as well as senior engineers at powerhouses like Google, Facebook or Pinterest.
At what stage the project is?
For Q2 2018, the team planned the release of the technical whitepaper (already released), design and development of the UTXO (Unspent Transaction Output) sharding transaction, design and development of the Sharding Ledger & Storage, as well as the design and development of the interactive transaction verification.
What the main future milestones in their roadmap are?
By the end of the year, the team plans to release the testnet, as well as to refine and release new features. For the start of 2019, the team plans to launch the mainnet, as well as full-function union debugging and update. Finally, they’re planning to do some stress testing and security scanning.
Fundraising status:
Token sale dates, as well as the goals, are yet to be determined.
Most important partnerships?
TGL Capital, an investment firm dedicated to empowering frontier market entrepreneurs, with a focus on opportunities in Sub-Saharan Africa.
Neo Global Capital, the strategic investment vehicle of the NEO foundation.
JRR Crypto, a distributed investment banking group with focus on the blockchain industry and cryptocurrency.
How large their community is?
MultiVAC has two Telegram channels, the MultiVAC Channel, with 5,000 subscribers, and the MultiVAC Community, with 19,000 subscribers. They have 3,346 Twitter followers, and they post regularly on Twitter.
What are other similar projects?
Dfinity, Ontology.
