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).
For the latest cryptocurrency news, join our Telegram!
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.
Image courtesy of Pexels
Here’s Why This Coin Still Has Wings (WINGS)
WINGS, a decentralized crowdfunding platform based on the Ethereum blockchain, has had a great run over the past two months. Culminating in a peak of US $.23 just a few days ago, the currency behind the product has more than doubled since it’s lows of early September.
Despite the slight downturn WINGS is currently experiencing, this crypto-favorite may not be done running up the green candles on your favorite exchange just yet. A small drop like we had today was actually expected and could be considered healthy by long-term investors. These dips are also appreciated by those of us waiting to get in on a project we feel has real potential. WINGS has shown us that potential and is now presenting a great buying opportunity for speculators and traders looking for the next wave of support to lift this coin into the stratosphere.
What is WINGS?
WINGS was created to nurture project proposals via the Decentralized Autonomous Organization (DAO) model. Using blockchain networks and smart contracts, the platform allows the WINGS community to promote proposals with the greatest chance of positive returns. WINGS, in essence, is a decentralized forecasting ecosystem, where token holders are given an incentive to make choices concerning projects on the platform.
The DAO is a popular concept for crypto-projects that want to remain entirely on the web. Using the peer-to-peer technology of blockchain and smart contracts to enforce the rules of participation is…
6 Blockchain Predictions For 2019
As 2018 moves closer towards its end, investors, developers, and tech enthusiasts are starting to turn their gaze towards the future. 2019 is less than two months away, and it promises new breakthroughs and large changes. This is especially true when it comes to blockchain technology.
While 2018 was an important year for this technology’s development, many are wondering what awaits us in the near future. Because of this, we have created a list of 6 predictions regarding the blockchain, as well as what might happen to it in 2019. Let’s begin.
1. Search for new and better business use cases
Blockchain technology is wrongly seen by many as a magical way to resolve all issues that we struggle with today. However, while it is true that blockchain can help with a lot of them, there are still numerous other problems that are better suited to be solved by alternative technologies. Robotics, AI, and similar technologies are not to be discarded in blind faith in the blockchain.
Researchers and developers have recognized this, which is why 2019 will be dedicated to finding specific use cases for blockchain technology. Blockchain will be used in situations where it can have the strongest positive impact. In other words, the goal is not to find places where this tech can fit, but to find places where it is the best fit.
2. Fixing blockchain industry’s image
For a lot of people, blockchain…
TRON DEX Goes Crazy, TRX Founder Asks For More Projects
Less than a week ago, TRON (TRX) community uncovered a new DEX (decentralized exchange) on Tronscan.org. Since TRON community is among the strongest and most supportive communities to ever support a coin, trading activity on this DEX quickly skyrocketed.
So much so, in fact, that TRON’s founder, Justin Sun, felt that he should share this fact on his Twitter account.
— Justin Sun (@justinsuntron) November 13, 2018
TRON DEX sees massive growth in activity
Since Sun shares a lot of traits with TRX community, such as tirelessness and fascination with this project, he was quick to urge the community to come up with additional tokens and projects.
While Sun’s statement that the activity on the DEX is “going crazy” is pretty accurate, many do not realize just how accurate this is. It should be pointed out that the number of tokens on the exchange was 3 on November 10th, when the DEX was originally uncovered. Today, on November 13th, the number of available tokens has doubled.
In addition, 4 out of 6 trading pairs offered on the exchange have experienced significant gains, with the remaining two experiencing only slight drops. The growth was experienced by Dice/TRX (146%), TronWatchMarket/TRX (8.27%), WIN/TRX (89%), and SEED/TRX (1.73%). The drop was experienced…
Ludos Protocol Makes a Strong Case for Investors in Blockchain Gaming
Ripple director: Banks tapping into Ripplenet to form a network to ditch SWIFT
XRP turns green as it secures listing on new crypto exchange Shardax
- Altcoins2 weeks ago
Electroneum (ETN) and Ravencoin (RVN): Two giants in the making
- Bitcoin2 weeks ago
China sees Ripple as innovative blockchain while Bitcoin gets no love again
- Don't Miss1 week ago
40 million XRP just got transferred to former Ripple executive Jed McCaleb
- Altcoins1 week ago
What would you buy when Electroneum (ETN) reaches one dollar?
- Altcoins1 week ago
Stellar (XLM) poised to see massive gains next year, here’re the reasons why
- Altcoins1 week ago
Red Pulse: Rise of the Phoenix (PHX)
- Altcoins5 days ago
3 Coins Coinbase Will Adopt Next
- Altcoins1 week ago
Why Ripple, Tron, and Cardano are top promising crypto investments