MultiVAC Round 2 MTV IEO

Description

MultiVAC is a next-generation high-performance public blockchain for industrial-scale decentralized applications. Its trusted sharding technology allows for unlimited and sustainable scalability, and it provides a novel approach towards solving the blockchain scalability problem currently preventing mainsteam blockchains from reaching industrial capability. MultiVAC is the first to propose a sharding model based on Verifiable Random Functions (VRF) and applies this model to transactions, computation, and storage. We confirm transactions in our network through a classic UTXO model with miners dynamically selected through a probability model. MultiVAC 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 our fast and scalable blockchain model, MultiVAC is the first in the industry to provide a computational model for smart contracts which allows developers to flexibly decide for themselves the tradeoff between consistency, availability, and partition tolerance, parameters that are often stiffly fixed by the designs of many public blockchains. We 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, MultiVAC 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.