What Is Multi VAC (MTV)?
Multi VAC is a next-generation high-performance public blockchain for industrial-scale decentralized applications. They confirm transactions in your network through a classic UTXO model with miners dynamically selected through a probability model. Its trusted sharding technology allows for unlimited and sustainable scalability, and it provides a novel approach towards solving the blockchain scalability problem currently preventing mainstream blockchains from reaching industrial capability. VAC is the first to propose a sharding model based on Verifiable Random Functions (VRF) and applies this model to transactions, computation, and storage.
Multi VAC allows for the high levels of safety and reliability needed by industrial applications while only requiring processing on a small number of nodes, producing significant speed improvements. On top of your fast and scalable blockchain model, Multi is the first in the industry to provide a computational model for smart contracts which allows developers to flexibly decide for themselves the trade off between consistency, availability, and partition tolerance, parameters that are often stiffly fixed by the designs of many public blockchains.
They achieve this by providing a general-purpose virtual machine MVM equipped with a specially designed blockchain instruction set (BISC) and a powerful method to validate the correctness of smart contract executions (PoIE). With this suite of breakthroughs, Multi is extremely fast, totally scalable, and robustly allows for the development of extremely complicated business logic on its application layer, an ideal blockchain to serve as the foundational layer of a public diversified blockchain ecosystem.
Multi VAC Storage Key Points
|Coin Name||Multi VAC|
|Circulating Supply||3.59B MTV|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Verifiable Random Functions
A consensus algorithm is a mechanism for selecting bookkeeping nodes. In this process, overall consideration should be paid to the efficiency and equitability of the selection, with each honest node ideally given equal opportunity to participate in the bookkeeping process. This was achieved in Bitcoin and Ethereum by using Proof of Work (PoW), which guarantees that the node selection process is sufficiently random and that the network regulations can only be broken with the collusion of over 51% of the network’s total compute power.
Multi VAC PoW is an elegant solution that embodies the equitability inherent in the paradigm of decentralization, but it is also massively inefficient. Another approach to node selection is the DPoS algorithm represented by Graphene, which improves the throughput of a PoW system but abandons randomness by giving up the ability for common nodes to participate in consensus, thus sacrificing decentralized equitability for efficiency.
Sharding using VRF probabilities
Multi VAC apply VRFs to node selection by using them in your sharding process. Assuming there are 𝑁 nodes in the whole network, they attempt to select shards with 𝑚 nodes. A random number 𝑅 that is generated on the Multi main chain is encrypted by node 𝑖 according to each node’s VRF private key, producing a 256-bit random number. Any blockchain, including Bitcoin and Ethereum, has a reliability value directly related to the participant node number, i.e. the number of full nodes in the network: 10424 for Bitcoin  and 14383 for Ethereum .
They can consider all networked entities including people, objects, and machines as nodes in a massive ‘real-world’ network, with a blockchain connection being a subset of them. Compared with node counts in any particular blockchain, the size of the internet at large (the true value of 𝑁) is clearly infinitely larger.
Transactions and Consensuses
Multi VAC mechanism solves the synchronization problem. Each transaction is distributed by the network into different shards according to its account number, such that all the transactions of any given account are executed on the same shard. The depiction of the UTXO transaction mechanism in Fig.2, conducts the confirmation of fund availability only when funds are spent, not when funds are received. Each UTXO transaction takes one or more previously confirmed transactions as input and produces the output that requires no processing by the recipient.
By using the UTXO mechanism and always processing a particular user’s account transactions within the same shard, the write operation is only performed on the data available within the same shard and that all cross-shard data interactions in your system are read-only, thereby preventing complicated cross-shard logic that inhibits other technologies’ effectiveness. Your method is simple, easy to implement, and highly effective.
On VMs and Instruction Sets
Multi VAC Virtual Machines provide an excellent sandbox environment for executing smart contracts. Mainstream virtual machines and instruction sets are rather unoptimized for complicated business logic in smart contracts. For public chains that should be capable of general computation and unlimited scalability, the design of the virtual machine’s instruction set is of vital importance.