MOAC was launched as a cryptocurrency on 16th January 2018 and has since then climbed to the 67th position (current statistics at the time of writing from coinmarketcap.com). The objective of MOAC as described in its official website is to “design a scalable and resilient Blockchain that supports transactions, data access, and control flow in a layered structure.” The framework of MOAC lets users execute smart contracts efficiently. The network is also structured to create sub blockchains using underlying infrastructure easily. The MOAC blockchain comes with necessary plumbing parts that are required to build sub blockchains, and are also capable of doing private chain deployment.
Problems Currently Faced
The present blockchain technologies and platforms are complex and difficult to grasp and have high usage fees. All these features also have an impact on scalability. As per MOAC, the existing platforms have “low-performance transactions-per-second (TPS), fixed consensus models, and are not able to quickly adapt to the ever growing needs of developers.” Mining in the blockchain community is another issue as it is still highly centralized. Another drawback is the blockchains platforms generally do not communicate with each other and are also alienated from other smart contracts and blockchain systems. It is quite challenging to build new blockchains and most of the present blockchains are difficult to upgrade.
The MOAC Platform
MOAC Blockchain Tech, Inc. (MOAC) has developed a Multi-Blockchain platform that addresses the primary issues faced by the existing blockchain platforms. The layered structure of the MOAC platform effectively manages to reduce dApp developer costs and at the same time increases the rate of transactions and volume using sharding technology. The transaction processing speed when compared to that of Ethereum is almost 100x faster as the balance transfers and smart contracts are taken separately. The layered Multi-blockchain structure also aids in the process of making the transactions faster.
The intersystem Proof of Work system incorporated in the MOAC network can be described as MotherChainTM that looks over data storage. MotherChainTM also handles computer processing for dApps and smart contracts. MotherChainTM is basically a ‘public blockchain layer’ that maintains balance transfers, different blockchain operations and also looks into consensus and data access. The MOAC platform also supports other consensus models that are based on MicroChainTM.
MOAC is considered to the first blockchain solutions that install a unique MicroChainTM per smart contract. It is one step ahead of the existing scalability solutions, as per the MOAC whitepaper. In case of a smart contract, the MicroChainTM assists the MOAC platform in separating blockchain functions from business logic. The smart contracts are provided with their own unique MicroChainTM that enables them to utilize a variety of consensus protocols. The result will show a broader scope of potential business logic use cases. The developers are free to choose a consensus protocol that best supports their use case. They can also determine the number of nodes allotted to a certain smart contract. The different states of the smart contracts are stored inside the local MicroChainTM.
Being isolated, the MicroChainsTM are capable of running various virtual machines for smart contracting. Apart from expanding the horizon of business logic and dApp use cases, the MicroChainsTM allows the usage of file systems like IPFS and sensor networks for data storage. It can also be incorporated by artificial intelligence. The dApps do not need any additional programming as they are set up in a developer-selected virtual machine. If the Ethereum smart contracts are run on the MOAC platform then there would be lower fees. The developers are also allowed to leverage the platform’s API to reset the borders of the functionality of the smart contracts. This also energizes the developers. Thus, the MOAC platform supports the smart contracting by reducing the processing costs effectively. This also means that developers can create high transaction volume based dApps without the fear of paying high costs.
The MOAC platform includes blockchain sharding technology, which has the potential to solve scalability issues. “Sharding helps by using a node based approach, providing more processing power proportional to the number of nodes in the network.” (As discussed in the MOAC whitepaper)
The price of MOAC at the time of writing, as per coinmarketcap.com, shows approximately $4.68 USD (7.52%). The market cap of MOAC (MOAC) shows nearly $167,862,883 USD while the volume (24h) is a little over $35,700 USD (as of 19th June 2018).
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
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The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
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Cryptocurrency vs. Blockchain Technology
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
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“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
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