The recent bounce-back in the overall crypto market has brought a sigh of relief to millions of crypto traders, who have seen their wealth deplete by nearly 50% since November last year. While the bellwether cryptocurrency Bitcoin rebounded from its 90-day low of US$33,184 to levels above US$45,000, most altcoins witnessed far better price improvement in the last week.
One such altcoin that is garnering investors’ attention is MultiVAC(MTV), which is a next-generation flexible public blockchain platform with high throughput. At the time of writing, MultiVac was trading at US$0.00824389, down 1.5% in the last 24 hours. But in the last seven days, the digital coin is up nearly 10% and in the last one month, it has gained over 17%.
But what is catching everybody’s attention is its trading volume, which stood at US$6.7 million, up 161% in the last 24 hours. Worth mentioning here is that this volume is nearly 23% of its market capitalisation of around US$30 million. In comparison, for BTC, this ratio stands at just above 3% (at the time of drafting).
According to crypto exchange Coinmarketcap, MultiVAC crypto is ranked #667 based on market capitalisation and it has a circulating supply of over 3.5 billion. Notably, in the last one year, MTV crypto has surged by a whopping 1741%. So, what is so special about MTV crypto?
MultiVAC(MTV) crypto is a twin blockchain-driven protocol – the Ethereum blockchain and Binance Smart Chain. According to Coinmarketcap, MultiVAC proposed an all-dimensional sharding solution to enhance the blockchain’s transactions per second (TPS). For the uninitiated, sharding is a process to split a blockchain company’s entire network into smaller partitions, known as “shards.”
According to MultiVAC website, it has 64 shards with each shard having a TPS of 533. Its peak TPS stands at 30784.
It is also the first crypto to propose a flexible computing framework, so that developers can trade off freely between the blockchain trilemma– decentralization, scalability and security– on this framework.
The three distinguishing features of this technology are: high scalability, linear expansion and fair node operation, which means anyone with a laptop or a PC can participate in operating a node without competition.
Last month this digital token witnessed significant rally after ShawnYing, chief technical officer of the project, announced the launch of the Websocket application, which would help apps seeking more efficient blockchain data.
Worth mentioning here is that as MultiVAC is a public protocol, which integrates large-scale DApps and improves the TPS significantly. The Websocket application is expected to be an essential service for the DApps landing on its blockchain.
Also Read: Why is MultiVAC (MTV) crypto rallying?
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