MicrovisionChainPrice

(SPACE)

MicroVisionChain, also known as MVC, is a decentralized Layer 1 blockchain project designed to support massive Web3 applications and address the blockchain trilemma of security, scalability, and decentralization. The project utilizes the Unspent Transaction Output (UTXO) model, the same architecture used by Bitcoin. By combining this model with a Proof of Work consensus mechanism using the SHA256 algorithm, the network aims to provide high security while achieving significantly faster transaction speeds and greater scalability than traditional blockchains. A central objective of MicroVisionChain is to function as a high-performance sidechain and scaling solution for the Bitcoin ecosystem. Because it is built using Bitcoin core code, it maintains high compatibility with the original network. This foundation allows for the creation of a Bitcoin Virtual Machine, which supports complex smart contracts that are not natively feasible on the Bitcoin mainnet. The technology behind the project includes two major features: MetaContract and MetaID. MetaContract enables Layer 1 smart contracts within the UTXO framework, which allows transactions to be processed in parallel. This parallel processing capability is what grants the network its high concurrency and ability to manage large-scale data. MetaID serves as a decentralized identity protocol, allowing users to maintain control over their identity and data across different decentralized applications, thereby improving privacy within the Web3 environment. The native token for the network is called SPACE. It is used for various essential functions within the ecosystem, including paying for transaction fees, executing smart contracts as gas, and managing on-chain storage. The project is designed with a capped supply to reflect the scarcity model associated with Bitcoin. Beyond standard Proof of Work mining, the network uses a Proof of Build system. This mechanism is intended to incentivize developers by rewarding those who build and contribute to the network's ecosystem. Through these combined features, MicroVisionChain seeks to provide a robust infrastructure for the future of decentralized applications, identity, and the digital economy. Learn more

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