Introduction: A powerful technical team, unknown project research and development for half a year, do not look for celebrity platforms, do not accept venture capital, but it is sought after by many users, today interviewed Moore founder of the MOL chain Qian Haitao, he for the entire Moore chain ecological architecture gives a detailed description.
Moore's MOL uses a disruptive directed acyclic graph (DAG) and blockless design, giving Moore the fastest transaction confirmation feature of 50 milliseconds; its highly scalable concurrent unlimited performance and freedom The transaction fee makes Moore Chain Natural the first choice for distributed economies such as micropayment, lightning payment, high-frequency payment, gaming games, and community.
Enhanced Ethereum virtual machines and smart contracts also make the Moore Public Chain a magic cube for financial applications based on transaction-free fees, and developers can develop a variety of financial applications.
MOL technical characteristics
1, the design principle:
MOL Moore's Architecture
In the MOL Moore chain design, each user and smart contract user has its own chain. User A initiates a transfer transaction. After the private key is signed, it is broadcast to the network. User B creates a receipt transaction, signs it, broadcasts it, and writes it. In your own chain.
2, no block
In building MOL Moore's public chains, we tend to advocate the IOTA and Nano's non-block architecture, allowing transactions to become data units free of block restrictions, ie lockless.
MOL Molar Stack
3, smart contract
The defect of the IOTA and Nano design is that they do not support smart contracts. MOL Moore makes innovations from the architecture of the DAG (Directed Acyclic Graph) and designs a contract account. The contract account has the same functions as a normal account: opening an account, sending, Receive and change delegates, except that the contract account is controlled by the code. Each contract account is an independent chain. From the initial block Block0, sending and receiving transactions constitute
Blockless blockchain.
4, release tokens
From user-generated content UGC (User Generated Content) to user generated currency UGC (User generated Currency), this irreversible just-in-demand guideline MOL Moore's team is investing in R&D resources to provide token-issuing services for decentralized Dapps.
5, consensus algorithm DPOS
Moore MOL uses DPOS's mechanism to handle double-spends. In terms of consensus efficiency, POW<POS<BFT<DPOS, DPOS is the most efficient consensus mechanism due to the lowest cost of consensus overhead. Since double flowers only occur in software bugs or malicious attacks, they are on-demand consensus (voting 0), which can further improve work efficiency, that is, asynchronous consensus, so transaction confirmation time does not depend on consensus efficiency. Each purse node can specify and change their own representation, and the method of judging consensus is
Double flowers appear, representing the need to vote, to choose between two or more double flowers.
6, performance
The blockless architecture design enables transactions to be sent and confirmed at the speed of Internet broadcasts, 50 milliseconds (1 second=1000 milliseconds), ie 1/20 second. Since transactions are concurrent and asynchronous on-demand consensus, the volume of transactions that can be processed per second is theoretically unlimited.
Moore currency economy
1, staking interest
In order to ensure the security of the network, although Moore is exempt from transaction fees, wallet nodes still need to hold a certain number of moles for a long period of time, and the mortgaged moles will generate interest at an annual rate of 5.5%. This process we call minting.
2, reward
Since the account chooses to represent, the representative will conduct a mechanism called “proof of contribution”. In order to motivate the delegates to develop more accounts and provide better services for the account, there will be some tokens to reward. Form grant delegates.
In Moore's total supply, there will be a portion of the smart contract account stored separately with the lock interest and contribution awards, which will be automatically executed into the wallet and representative node by the code execution algorithm.
3, economic model
(Note: T is the MOL mole in the circulation of n, and the initial interest is 5.5%. In 100 years, Moore will no longer generate interest)
4, the molar distribution
Application scenario
1 Lightning payment is not like an hour for Bitcoin, nor for an average 10 minutes confirmation time for Ethereum and ERC20 tokens. Moore MOL has 50 milliseconds of lightning payment confirmation speed, suitable for offline shopping and catering and online entertainment consumption. (Watch movies, play anchors, e-books, listen to music, etc.), pay immediately, and pay immediately.
2 Small Payments for Alipay's annual transaction volume of RMB 100 trillion. In the era of UGC (User Generated Currency) users generating tokens, some scenes will be switched to digital currency. The bitcoin transaction fee averages 100 US dollars, and Ethereum ERC20's tokens are 2 US dollars, they are not suitable for use in micro-payment scenarios, and Moore free transaction fee is naturally matched with this field.
3 Integral tokenization Dapp is solved using existing solutions. For example, Ethereum performs tokenization, and the impact of transaction fees and confirmation time results in a large number of transaction losses and delays in the token token process, and thus cannot be tokenized. Economic logic writes directly into the contract.
4 Game Chips Games (such as mahjong, landlords, etc.) need free real-time trading. Existing games can use Moore Chain to send chips to users in tokens.
Summary: Moore's MOL uses a disruptive Directed Acyclic (DAG) and Blockless design, giving Moore the fastest transaction confirmation feature in 50 milliseconds; its highly scalable concurrent concurrent performance As well as the transaction-free fee, Moore Chain Natural has become the first choice for distributed economies such as micropayment, lightning payment, high-frequency payment, gaming games, and community. Enhanced Ethereum virtual machines and smart contracts also make the Moore Public Chain a magic cube for financial applications based on transaction-free fees, and developers can develop a variety of financial applications.
Zheng Duming Ming: This article was edited and analyzed in the original opinion of Mr. Qian Haitao, the founder of Moore Chain MOL. For reprint, please state copyright holder information.