SINGAPORE / ACCESSWIRE / October 8, 2018 / On September 26th, the Tech Talk “Blockchain Sharding — How Microchains Can Solve the Scalability Issue” was held by ABC Blockchain Community at Google Campus. The goal of this blockchain seminar was to share information about sharding and microchain technology with blockchain enthusiasts. MOAC CEO David Chen was invited to provide details about MOAC’s advanced sharding functionality.
The main organizer of the Tech Talk was ABC Blockchain Community. ABC was created by a group of Google engineers for self-organized discussions on blockchain advancement. Together, members collaborate to learn, innovate, and apply new technologies. ABC has over 1,000 members from more than 10 worldwide chapters including ABC@Google, ABC@Facebook, ABC@LinkedIn, ABC@Stanford, and ABC@Tsinghua. Membership ranges from top professionals to renowned researchers.
MOAC’s CEO David Chen delivered a speech on sharding at the event. David Chen is a full-stack blockchain expert with over 18 years’ experience in architecture, algorithms, network security, databases, network protocols, and more. His hands-on experience with blockchain began in 2013 and he is the main designer of the MOAC blockchain. He proposed the use of sharding technology on top of a public blockchain, as well as solutions for atomic swaps and overall cross-chain communications.
- The trilemma affecting current blockchain solutions
Existing technologies and blockchain platforms suffer from steep learning curves, unnecessary complexity, and high usage fees, all of which impact adoption and scalability. These are difficult problems to solve because we still need to keep security a priority, avoid introducing centralization, and realize easy data migration as shards change.
- The MOAC solution
MOAC is a multi-layer blockchain platform for commercial applications. MOAC adopts a layered architecture and sharding technology, with the lower layer processing overall account transfers and the upper layer deploying contracts through MOAC’s microchains. The upper layer microchains can choose their own consensus method and block generation rate and can store contract status on their own separate blockchain. Microchains can also choose their own mining nodes. The system maintains multiple mining pools which support several consensus protocols that microchains can lease.
- MOAC technical features
MOAC has a one-click chain deployment function that solves high cost issues with conventional chain creation while allowing flexibility through customized consensus. MOAC is also highly compatible with Ethereum, allowing Ethereum apps to move to MOAC with ease. Microchain functions can be called from other microchains, building a multi-dimensional relationship. This reconciles the paradox between security, performance, and scalability, supporting large-scale commercial applications.
MOAC’s dual incentive mechanism and low-cost cooperative construction greatly increases MOAC expansion momentum. MOAC also supports non-token chains. The token and chain-based tokenization solution (ATO + one-click chain) achieves market pricing and the exchange of the microchain’s native tokens.
- Next dimensional blockchain applications
A blockchain is a decentralized ledger which records data that cannot be altered. This foundation has many applications in areas such as anti-counterfeiting and traceability. If we record a number on a blockchain and perform addition or subtraction operations on it, a token is formed. If we build on that and record more information and logic, recording the results of every state, then we have smart contracts. There are many applications based on smart contracts, like ICOs or games such as Cryptokitties. These applications fully utilize smart contract features. MOAC, with its multi-blockchain and cross-chain functions, is ready for the next dimension of applications—large scale decentralized collaboration, which supports exchange between trusted records.
Media Contact Information:
Company Name: MOAC Foundation
Contact Person: Ryan Wang
SOURCE: MOAC Foundation