MicroVisionChain (SPACE) Price

What is MicroVisionChain (SPACE)?

MicroVisionChain (MVC) is a novel blockchain platform, utilizing the Unspent Transaction Output (UTXO) model as its foundation. This avant-garde technology has revamped transaction processing methods, introducing several pivotal features suitable for the burgeoning Web3 applications.

High-Level Decentralization

By adopting the well-tested Proof-of-Work (POW) consensus mechanism along with the SHA-256 mining algorithm, akin to Bitcoin, MVC commits to the tried-and-true decentralized principles. Such decentralization, a cornerstone of blockchain technologies, ensures the system's robustness and scalability, promoting fair competition and sustaining the ecosystem's dynamism.

Exceptional Performance

A hallmark of MVC is its extraordinary transaction processing prowess. It has refined the transaction format inherent in the UTXO model, establishing a high-performance parallel computing supernode capable of processing an astounding one million transactions per second (TPS). With high concurrency in transaction confirmations, MVC emerges as a premier scaling blockchain accessible globally.

Built-in Distributed Identity Protocol

Venturing into the domain of identity protocols, MVC unveils MetaID, a distributed identity protocol nested within the UTXO model. MetaID imbues discrete UTXO models with the benefits of account-based models, all the while preserving high concurrency. It assigns each data fragment to a specific user, ensuring genuine ownership and data interoperability across a spectrum of applications. MetaID lays the groundwork for high-efficiency Web3 applications, streamlining processes and trimming down costs.

Layer-1 UTXO-based Smart Contracts

In a pioneering stride, MVC extends support for Layer-1 Turing-complete smart contracts grounded on the UTXO model. This trailblazing initiative enables MVC to encapsulate the full logic of Ethereum Virtual Machine (EVM) smart contracts, delivering remarkable performance alongside significantly low transaction fees. By harnessing the intrinsic benefits of the UTXO model, MVC offers efficient and cost-effective smart contract functionalities to its user base.

MicroVisionChain stands as a notable stride in blockchain technology, encapsulating high-level decentralization, unparalleled performance, an integrated distributed identity protocol, and innovative Layer-1 UTXO-based smart contracts. These attributes position MVC as an exemplary blockchain solution for the evolving Web3 ecosystem.