22 Aug MOAC – Mother of All Chains
MOAC – Mother of All Chains
There is no doubt that the concept of blockchain has already started to revolutionize the world, but as of now, the technology is still inadequate. A majority of existing blockchain platforms still face user adoption and scalability issues with low TPS (transactions-per-second). If the size of each block is increased to accommodate more transactions, so too would the node requirements increase. The large resources needed to operate will limit the number of individuals who can run nodes and verify transactions. Current blockchain designs still have yet to resolve the contrasting needs between scalability for growth and decentralization.
MOAC aims to address the inefficiencies of existing blockchain platforms with a multi-blockchain infrastructure designed to lower DApps costs and ease development on the platform, whilst also increasing transaction speeds, volume, and scalability using sharding.
The MOAC platform leverages multiple blockchain within its platform, including: MotherChain (PoW), a DApp Chain (PoS, or any other consensus protocol* for scalable transactions), Microchains for Smart Contracts, and Cross-Chain capabilities for communication between multiple blockchains and cryptocurrencies. By categorizing data into the platform’s multi-chain design, MOAC can “outperform Ethereum by 100x transactions-per-second using advanced Multi-blockchain system including Microchains and sharding,” as claimed in the whitepaper.
MOAC’s multi-layered infrastructure design.
The primary MOAC blockchain is the intersystem blockchain MotherChain, the public blockchain layer that handles data storage and computing processing for smart contracts and DApps. The Motherchain also processes data balance transfers, blockchain operations, consensus and data access by extension.
Using the MotherChain PoW (Proof-of-Work) protocol similar to that of Ethereum, the platform incentivizes mining and rewards for the network. MOAC also provides additional MicroChain mining and validations, including mechanisms for mining from mobile devices such as smartphones. By accommodating both mobile users and server farms, MOAC distributes to a wider range of participants, further supporting decentralization. Every CPU can participate as potential nodes, providing the processing power necessary to sustainably support the ecosystem.
The secondary MicroChain serves as a child blockchain within the platform that operates above the global MotherChain and is responsible for Smart Contracts management. The MOAC platform uses MicroChains to separate processing tasks and isolate blockchain functions from business logic for each individual contract.
MicroChain can facilitate cross-chain communication.
Each Smart Contract is provided with its own MicroChain, enabling the use of varieties of protocols in a wider range application. The design allows each MicroChain to have its own unique consensus system and algorithm. Developers have the option to select their consensus protocol and allocate a number of nodes to a specific smart contract. Consensus systems such as Proof of Activity, Proof of Burn, and Proof of Elapsed Time are also supported. It’s claimed that the protocol versatility provided can enhance token concurrency rates by a factor of up to 10,000. All states of the smart contract are saved inside the local MicroChain, and data is written to the MotherChain as needed for finality.
For further customization, due to MicroChain’s isolated attribute, it can run a variety of virtual machines for Smart Contracting on a per-instance basis, enabling them to initiate a wider rage of business logic and DApp use cases including utilizing different file systems such as IPFS, sensor networks for data storage, or even artificial intelligence. By isolating each smart contract with its own unique virtual machine and MicroChain, the MOAC platform boosts smart contracts’ efficiency and allow for more cost effective processing fees. The resulting lower cost of deployment for developers will allow for high transaction, volume-based DApps.
Moreover, MicroChain can reduce the cost of smart contract operations and allow developers to rapidly test different applications and services using Cross-Chain capabilities to interconnect with other non-MOAC blockchains. The interconnectivity also allows users and DApps to easily migrate and adopt the MOAC platform with a low barrier of entry. For example, MOAC is able to run existing Ethereum smart contracts with lower fees. Developers can leverage the API to expand their existing smart contracts with additional functionalities without learning additional programming.
MOAC can support other platforms.
Cross-Chains are a trust-based system for atomically swapping cryptocurrencies in a single transaction between various blockchain and cryptocurrencies. Using atomic swap-based Cross-Chains, the MOAC platform is able to swap block and data among multiple chains. It can be used between MicroChains and blockchains within the platform, and other non-MOAC blockchain systems like BTC or ETH.
But what truly sets the MOAC platform apart from its competitors is the blockchain sharding capability. That is the feature that horizontally partitions data across multiple blockchain and nodes. Existing blockchain solutions are inefficient; sharding solves this by using a node-based approach, providing proportional processing power to the number of nodes in the network. When a smart contract is deployed, the developer will define the number of service nodes, consensus protocol, block size, block generation time, and flush frequency. A shard is formed using the data and is used to provide a byzantine fault tolerant solution for that smart contract, forming a MicroChain. Similar to database sharding, blockchain sharding is like partitioning large nodes into smaller, faster, and more manageable shards.
Sharding subdivides the network into multiple shards. As long as there are sufficient nodes in each shard, the system remains highly secured. This architecture allows the platform to scale more effectively with secured processing of parallel transactions. TPS is also increased by extending the network with the addition of more supported CPUs for nodes.
The MOAC platform supports two types of mining:
1). MicroChain Mining:
Where a node verifies transactions for smart contracts and other consensus systems. Each node is rewarded for processing Smart Contracts and verifying transactions. Mining for MicroChains is rewarded with MOAC tokens and tokens associated with that specific MicroChain.
2). MotherChain Mining:
Where a node provides resources for the foundational layer for data processing and storage. Mining on the MotherChain functions similarly to ETH, and existing ETH miners can easily switch to MOAC. Mining the MotherChain can earn MOAC cryptocurrency.
The MOAC smart contract system is fully compatible with ERC20 and ERC721 token standards. There are currently 56 million MOAC coins in circulation, with an additional 94 million in reserve for a total supply of 150 million MOAC. It’s estimated that 6 million additional coins will be generated annually through mining, with production halving every 4 years, ending with 210 million coins by 2058.
Sha has extensive experience in the technical industry and has authored several books about blockchain and data. He has invested in several tech companies, the most recent being the MOAC foundation in 2017.
David Xiaohu Chen
CEO & Co-Founder
David is a cross-domain software engineer with a career history in the Silicon Valley. He was the CTO and co-founder of Jingtum.
CTO & Co-Founder
Xinle has worked with companies such as Walmart, Intel, IMTT, and claims credit for Nike’s multibillion-dollar online ordering system. He was also the Chief Architect of Jingtum.
Ryan is the co-founder and general partner of Outpost Capital, a cross-border early stage venture fund in San Francisco and Beijing. His portfolio also includes Jingtum.