MicroVisionChain (MVC) is a Blockchain that was launched in 2023 to tackle the scalability issue that has been a major challenge for the blockchain industry. With the rapid evolution of blockchain technology, MVC stands out due to its innovative approach of combining the Unspent Transaction Output (UTXO) model with Layer-1 smart contracts, and a decentralized identity protocol (DID).
MicroVisionChain (MVC) is a public blockchain that uses the UTXO model to support Layer-1 smart contracts and a decentralized identity protocol (MetaID). By executing transactions and smart contracts in parallel, MVC significantly increases throughput and reduces latency, making it scalable. MVC uses the Proof of Work (POW) consensus mechanism and the SHA256 mining algorithm for security and decentralization. Two key innovations of MVC are MetaTXID and MetaID, which ensure the blockchain remains lightweight and scalable while supporting complex Web3 applications with lower costs and simplified procedures.
SPACE has a total supply of 21,000,000.
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