Blockchain technology has evolved over 14 years, showing promise in various sectors. However, scalability remains a significant hurdle, affecting transaction fees, performance, and the range of applications.

MicroVisionChain (MVC) aims to resolve these issues, offering a blockchain designed for Web3 applications with unlimited scalability.

There are some key challenges in current blockchains:

  • scaling

  • high transaction fees

  • cross-chain storage

That is the MVC Solution?

  • High-level Decentralization

    MVC uses the same POW consensus and SHA256 mining algorithm as Bitcoin, ensuring an open and decentralized system.

  • High Performance

    MVC promises one million TPS (Transactions Per Second) through its optimized UTXO model.

  • Built-in Distributed Identity Protocol

    MetaID, a distributed identity protocol, allows users to own and interoperate their data between apps.

Layer-1 UTXO-based Smart Contracts

MVC supports Turing-complete smart contracts based on the UTXO model, offering high performance and low transaction fees.

MVC Design Goals

MVC aims to be the underlying public blockchain for Web3 and the Metaverse, focusing on performance, built-in DID, and Layer-1 smart contracts. It also features:

  • Unlimited scaling

  • Fee decrease mechanism

  • Zero confirmation of transactions

  • Unity of data storage, smart contract execution, and transaction in one chain

MetaTXID: A Unique Identifier

MetaTXID is a hierarchical hash algorithm that allows data pruning without affecting hash verification. It improves data storage and transfer efficiency and is crucial for Layer-1 smart contracts on UTXO blockchains.

MetaID: Your Digital Identity

MetaID is a distributed identity protocol that simplifies the development of Web3 applications. It allows users to own their data and enables data interoperability between different applications.

MetaContract: Smart Contracts Reimagined

MetaContract offers scalability, low latency, and security. It uses the UTXO model, allowing parallel verification and zero-confirmation security. It also introduces a globally unique ID for each contract.

MVC Mining Economy

MVC is open to miners worldwide and follows Bitcoin's mining economy. The block generation time is approximately every 10 minutes, and the initial block size limit is 4G.

  • Block Rewards

    Early miners are incentivized through block rewards, which will decrease over time.

  • Transaction Fees

    Miners also earn from transaction fees, which are expected to become the primary income source as the MVC ecosystem grows.

Conclusion

MVC aims to be a decentralized, high-performance blockchain for Web3 applications. With features like MetaTXID, MetaID, and MetaContract, it offers a comprehensive solution to the current challenges in blockchain technology. Its low fees and high scalability make it ideal for mass adoption in future Web3 applications.