MOAC Microchains are Officially Online! The Nuwa Platform Heralds a New Age of Commercialization !

The MOAC Silicon Valley team officially released MOAC microchain functionality on August 10th. This formally marks the genesis of MOAC’s Nuwa Platform. The stage is now set for blockchain commercial application!

Reminder from the MOAC development team: Please move to the MOAC Github link to downlaod the MOAC microchain node package (SCS)

https://github.com/MOACChain/moac-core

1. What are MOAC Microchains?

The term microchain refers to an independent blockchain that is inexpensive, decentralized, and highly-efficient, and is deployed by the main chain.

The MOAC platform uses microchains to distribute processing tasks and provide blockchain functionality that is separate from business logic for each smart contract. Smart contracts are able to use self-defined consensus methods because every smart contract is given its own individual microchain, opening up far more potential application scenarios than normal business logic. Developers can freely choose the consensus method most suitable for their situation and decide the number of microchain nodes assigned to the smart contract. Smart contract data is saved onto the native chain, and data can be written into the main chain as needed.

Microchains can’t exist independently, their operations depend on the infrastructure provided by the main chain, and can access all of the main chain’s users for free. MOAC microchains are secured by the main chain while freely accessing the main chain’s data. Unlike side chains and main chains, MOAC microchains are one with the main chain, meaning that an attack on a single microchain is useless. And the MOAC main chain uses over 10,000 nodes and the time-proven consensus method, guaranteeing security. Microchain technology not only solves the security issues of side chains, but also provides powerful functionality.

2. Why Use Microchains?

First, because microchains achieve blockchain scalability and provide a feasible solution for sharding. It’s extremely difficult for one-dimensional blockchains to achieve sharding, yet the MOAC blockchain elegantly accomplishes it through microchain technology. We deploy smart contracts as their own microchain, only storing status on the microchain. The application’s contract data doesn’t need to be uploaded to the main chain, greatly reducing storage pressure on the chain and achieving high-parallel processing through microchains.

Second, microchains bring a huge amount of flexibility, providing token-based and token-free chains for governments and corporations which use blockchain technology, allowing them to choose which type suits them best!

MOAC microchains have an inherent incentive mechanism. Nodes are randomly selected from MOAC’s public mining pool. Not only do corporations not need to pay exorbitant deploying and maintenance fees, they also receive guaranteed security. MOAC also provides a solution for the incompatibility between token-free blockchains and decentralization. Projects only need to provide a minimal maintenance fee to easily let users, products, organizations, and others access the chain.

One: Flexibility in consensus methods

Consensus methods of one-dimensional blockchains are fixed after being set. For instance, Bitcoin’s consensus method is POW, therefore any deployed application (DAPP) that wishes to use Bitcoin can’t use any other consensus method. If new applications want to use the faster POS consensus method, there’s nothing they can do, because the lower layer public chain’s consensus method has already been set. But MOAC’s microchains allow for consensus modules to be chosen according the needs of the DAPP, providing support for new self-defined consensus methods in addition to those already provided by the system (POW, POS, PBFT, IPFS, DPOS). In addition, microchain block generation rate isn’t restricted by public chain. Rather, it’s independent, allowing for self-defined block generation rates. Block generation rates of 10 seconds, several minutes, or even an hour or any other time frame are possible. The advantages of this are:

Deploying microchains becomes far less complicated, allowing users to directly adopt an already existing consensus method. If they wish to use their own, they need only to write it and execute it. Microchains can be deployed quickly and flexibly. Users only need to select the number of nodes they need from the system’s SCS node pool, removing the hassle of maintaining consensus nodes. Ordinary users’ SCS nodes can conveniently participate and profit from the consensus process, allowing everyone to benefit.

Two: Flexibility in expenses

Depending on the application scenario, no fee is charged for using a microchain’s functions once it’s deployed. This greatly reduces the threshold for DDAPP users, allowing a large number of users to quickly and conveniently use DAPP and experience blockchain technology. The changes brought about by this technology, unlike current blockchain applications, are not just limited to cryptocurrency enthusiasts.

Cross-chaining is simple, achieving the Internet of Everything

MOAC’s microchain function can achieve cross-chain transactions between the MOAC chain and other blockchains, like Ethereum or Bitcoin. From a broader definition, MOAC is capable of communication between the blockchain and other networks. For instance, communication between IPFS’ decentralized file storage network can easily be achieved.

In addition, microchain services provide powerful functionality, allowing for the construction of complex DAPP.

Not only are microchains a support platform for DAPP, they can be deployed as a public service that provides special services for other microchains or DAPP. These services could be decentralized file storage, truly random number generation or professional processing functions (like AI research), etc. The combined support of so many microchain services can create extremely powerful DAPP, decentralized cloud services, and more. This application model revolutionizes modern cloud operations, and will have a long-lasting impact.

3. Chain-Based Tokenization

MOAC further proposes a feasible token-based blockchain tokenization solution in addition to the public blockchain solutions provided by MOAC. We call this chain-based tokenization.

First, MOAC provides the first platform capable of commercial application. MOAC’s main net has currently already achieved:

Shard-based contract calling through microchains, allowing the lower layer to support ~1,000 TPS, with the upper layer supporting 5,000–10,000 TPS or greater. One-click chain creation functionality, allowing DAPP to create their own self-defined independent blockchains, including choice of consensus methods and consensus nodes. State storage of the chain or large file storage support is supplied through the decentralized file storage system microchain FileStorm. Projects don’t need to worry about maintaining microchain operations. Microchain consensus nodes are leased, and offer a level of security similar to the base chain. The innovative structure doesn’t require DAPP users to pay any gas fees to access DAPPs, allowing DAPPs to reach usership with no prior blockchain knowledge.

Second, the traditional stage of getting a blockchain project’s tokens listed on an exchange is no longer necessary with chain-based tokenization. Getting on the exchange is not a benefit for most applications, but a burden. This is due to low market value and liquidity for most applications. A centralized exchange is unable to accommodate a large variety of DAPP tokens. It’s simply not cost-effective for a generic DAPP application to get listed on the exchange. Yet achieving outside token circulation is a critical part of token economics, thus achieving token circulation while bypassing the exchange is very attractive to projects.

There’s a very simple and effective way to achieve chain-based tokenization on MOAC. The process is as follows: deploy a corresponding microchain control contract on the base chain. This control contract will be used to control microchain production and logic like microchain selection. It also includes logic that periodically refreshes the microchain to the base chain. In addition, the microchain control contract can also add reserve pools and market transaction modules. The user can deposit native tokens (MOAC) into the control contract and obtain the corresponding microchain native tokens in the microchain according to the market transaction module. This achieves native token and MOAC exchanges within the microchain. By the same token, the user can lock the microchain’s native token and obtain MOAC at the market price. The exchange ratio between the two is determined by the use of the project’s reserve and the microchain’s native tokens. This accomplishes market pricing and exchange of microchain native tokens.

Third, the individual ICO process is no longer necessary in this situation. This trading market module allows any user to enter the app’s microchain at any time and obtain native tokens by depositing MOAC, thereby participating in the microchain’s business logic. This process is continuous, transparent, and public.

This way, MOAC’s chain-based tokenization perfectly resolves the toughest problems plaguing blockchain projects. The project party can focus solely on the DAPP application logic while MOAC provides the rest. The MOAC platform’s chain-based tokenization can revolutionize already existing APPs, turning them into blockchain-based DAPPs for a very low cost and allowing them to enjoy the benefits that blockchain technology brings.

4. About MOAC

MOAC Blockchain Tech, Inc. (MOAC) consists of blockchain and cross-industry experts from the financial, software and emerging technology (e.g. VR/AR) fields. The team has earned widespread market acclaim and has applied for a number of international technology patents, turning the international MOAC product line into a reality. There are currently more than 20 application projects on the chain, and numerous government agencies and internet companies have entered into strategic partnerships with MOAC.

Where to Find Us

Website: https://moac.io/

GitHub: https://github.com/MOACChain/moac-core

Twitter: https://twitter.com/moac_io

Reddit: https://www.reddit.com/r/MOAC/

Medium: https://medium.com/moac

Steemit: https://steemit.com/@moac-official

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Telegram(China): https://t.co/73rU9sHWLH

YouTube (Event Channel):https://www.youtube.com/channel/UCBU405W7vfOPBicLwW9-QOA

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https://www.youtube.com/channel/UC_U54wsGNrm_Yivj5bH9i7Q?view_as=subscriber

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