MultiVAC (Eng)
https://icodrops.com/
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https://twitter.com/ICODrops - Twitter
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MultiVAC is a high-throughput flexible public blockchain based on trusted sharding computation that is dedicated for large scale and complex dApps. MultiVAC is able to reach 10000 times more TPS than Bitcoin, which is enough to meet the requirements of business-related apps'.
Timeframe
The public sale will be conducted on April 3rd, 2019 at 22:00:00 UTC+8 on the KuCoin Spotlight platform.
Metrics
IEO Hard Cap: 3,6 million USD.
Offered % of tokens for sale: IEO on KuCoin will offer 600 million MTV (6% of the total supply), 1 MTV = 0.006 USD, KuCoin Shares within the limits of 180 to 3600 USD equivalent on one account are accepted (KYC is mandatory), the rate for KCS will be announced on the sale's day, FCFS.
Start of IEO: April 3, 2019, at 22:00 UTC+8 (14:00 UTC).
Initial circulation of tokens: 9,8%.
Private round: 10,21%, 1 MTV = 0,008 USD, the vesting will start from the 4th month after the IEO and last 9 months.
Seed round: 8,95%, 1 MTV = 0,005 USD, the vesting will start from the 4th month after the IEO and last 12 months.
Maximum supply: 10 billion tokens.
Valuation of the last round of sales: 60 million USD.
Valuation of the initial circulation: 5,88 million USD.
Social metrics
Website's lifetime: 11 months.
Daily activity: 567 views and 142 unique visitors.
Alexa: Global Rank 2 429 232, there is no data about the geographical distribution of the traffic.
Twitter: the official Twitter account was incepted in June 2018, the first tweet was published on July 4, 2018. Currently, there are 6500 followers. There is mostly marketing information, like bounty and pictures. The team publishes roughly 15 posts a month steadily.
Telegram: the official group has 16018 users, it was created on July 1, 2018, and the activity started almost immediately. The group is lively, admins are answering questions.
Additional information: the project's Medium blog has 2400 followers, the first post was published on July 10, 2018. The activity is high, there are posts about both marketing and technology, along with the progress reports every two weeks.
Key players
Frank Lyu is co-founder and developer at MultiVAC that specializes in distributed systems. Frank is co-founder and technical director at Xinrenxinshi.com that is a leading startup in HR SaaS (Software as a Service) in China (Sequoia Capital is one of the investors of the project). He also worked at Meituan.com as a technical director and expert for data storage (a Chinese website for the delivery of groceries, consumer goods, and retail services). In addition, Frank has a modest experience in Baidu.
Dr. Shawn Ying is technical director at MultiVAC, who is responsible for the development and integration of the infrastructure. He is an Associate Professor at Tianjin University with a Ph.D. in Computer Science from Nanyang Technological University. He acted as a software engineer at Baidoo for slightly more than a year. He was mostly focused on teaching and acquiring his Doctor degree.
Claire Wang is a former director of marketing at Xinrenxinshi.com with more than three years of experience. She co-founded Julive.com. Additionally, Claire worked as a product manager at Meituan for about a year. He got her Masters degree in public administration from Beijing Normal University.
Currently, except for its founders, MultiVAC team has 15 researchers and engineers and 6 community managers. Some of them have degrees from Harvard, Stanford and the University of Sydney.
There are eight advisors, three of which deserve special attention.
Roger Lim is an experienced angel investor in blockchain projects. He is a founding partner at NEO Global Capital. Roger also advises for Bluzelle, Qlink, CoinFi, Selfkey, TheKey, Tomocoin, 0Chain, Switcheo, Open Platform, and nOS. He is a successful entrepreneur and founder of an Asian cloud hosting company WebVisions.
Michael Arrington is a founder of TechCrunch & Arrington XRP Capital.
Johnny Lyu is a VP of Strategy and Investment at KuCoin and Partner of PGC (Phoenix Global Capital).
The project has many investors and partners. Among them, there are Kucoin, funds like NGC, Hashed, Arrington capital, Signum capital, Torque, and others.
Whitepaper:
MultiVAC is the project of a globally distributed ecosystem that puts stress on sharding as its major technological feature:
- DPoS consensus mechanism, block producers are picked via VRF (Verifiable Random Function);
- A Turing-complete virtual machine, a framework with BISK basic instructions with the support of the high-level programming languages (С, Java, Go);
- Proof of Instruction Execution function (PoIE) based on zk – SNARK;
- Miners will receive rewards not only for their computing power but also disk space.
MultiVAC whitepaper's quality is better than that of the majority of the projects, it's straightforward and doesn't have noise. There are many calculation formulas, graphs, and schemes. However, there are some questions about cross-shard transactions (it may seem that their only use case is in money transfers).
MVP
The project already has a testnet and a block explorer. Wallet creation is allowed along with requesting testnet tokens from the genesis block's address.
The transfer time is rather low, but it's not instant. The average transaction time is from 5 to 10 seconds.
It's also worth noting that MultiVAC provided unique generation algorithms for wallets, hashes and private keys (for instance, its competitors, such as PCHAIN, copied the wallet generation principles of Ethereum).
There's a video of the testnet on YouTube.
Github:
The code is private for now, but the team promises to make it public soon.
There is a review of it by Andre from cryptobriefing with a neutral rank.
Addendum / summary / opinions
Similar projects:
From the projects that recently entered the market, MultiVAC can be compared to
- PChain (market cap is 7.6 million USD, 111 million USD on the initial listing) & QuarkChain (market cap is 34.1 million USD, 262 million USD on the initial listing).
MultiVAC is a high-quality project that is focused on the currently relevant topic of introducing sharding to the blockchain. The team is quite large and skilled: 5 Ph.D.s in computer science and mathematics. All of the team members have experience working in large and prominent companies. The project's advisors are also top-tier and occupy senior-level positions in famous enterprises. Among the project's investors, there is the well-known NGC, there is also JRR Crypto fund that has Binance in its portfolio.
The team works according to the Roadmap, the testnet was launched as it was promised. Although the code wasn't revealed on the GitHub, it was demonstrated for review to the certain members of the crypto community.
We should also highlight that this is the first IEO on Kucoin's platform. According to the project's metrics, it was designed for retail investors (the token price on IEO is lower than the private sale's price in Summer, 2018).
One of the weaknesses is that some team members don't have profiles in LinkedIn (which is common for Asians).
Another weakness is that as we mentioned the team significantly decreased the price for the public sale (from 0.008 USD to 0.006 USD) for the upcoming IEO, which raises questions from the early investors. However, we all understand that this is done to compete in terms of the current market structure and the practice shows that it doesn't negatively influence the price on listing (FETCH & CELER had a similar situation).