#BTC ETF approved in coming days!
BTC halving in 2024!
The BTCfi narative is just around the corner!
Aim to become a side chain for BTC, @mvcglobal $SPACE is the most bullish case for BTCfi narrative
$STX: 940M
$RIF: 113M
$SPACE: 17M ??
What's wrong?
Let dive in 🧵 👇🏻
1️⃣ Overview
The blockchain trilemma is a design problem of existing blockchains that has been around for decades.
These limitations that blockchains try to solve are: scalability, security, and decentralization.
To address these issues, MVC has created a blockchain with unlimited scalability, compatibility for Web3, metaverse, and a focus on high performance through the integration of DID and Layer1 smart contracts.
2️⃣ MVC - side chain of Bitcoin
▪️ Microvisionchain (MVC) is a new blockchain aiming to become a sidechain for Bitcoin, ensuring optimal performance while also promoting efficiency and cost savings as a replacement for Bitcoin's mainchain.
▪️ Notably, the total supply in MVC's tokenomics is limited to 21M $SPACE, the same as Bitcoin's design.
MVC focuses on these 3 improvements:
✅ UTXO-based smart contracts for app development
✅ Integrated decentralized identity protocol for cross-chain operations
✅ Users can use Web3 apps without buying or holding crypto.
In terms of performance, MVC achieves an impressive of over 10,000 TPS.
One key feature is the zero confirmation transaction technology, which allows for immediate processing of both FT and NFT transactions, reducing transaction latency for a better user experience.
An important innovation of MVC is the built-in Layer 1 Decentralized Identity Protocol, customized for Web3 applications.
This protocol enables cross-chain operations and uses a unique MetaID for all blockchain data. Its goal is to eliminate data exclusivity, ensure data compatibility between applications, and give data ownership to users.
Similar to Bitcoin, MVC is open to miners worldwide and follows the mining economy. The block creation time is approximately 10 minutes, and the initial block size limit is 4G.
▪️ Block rewards
Miners are incentivized early on through block rewards, which gradually decrease over time.
▪️ Transaction fees
Miners also earn from transaction fees, which are expected to become the main source of income as the MVC ecosystem develops.
3️⃣ Tokenomics
▪️ Ticker: SPACE
▪️ Total supply: 21,000,000
▪️ Market cap (atm): $16M
▪️ 55% for DAO, 2.5% release per quarter, halving every 11 quarters
▪️ 10% for early contributors, 2.5% release per quarter
▪️ 35% for SHA-256 mining, releasing 25 $SPACE every block.
This distribution of SPACE is unique, with no presale or IXO, All establishment activities, node operation, and governance functions have been funded by initial contributors.
Tokenomics are designed to benefit stakeholders:
🔹 Holder
Hold SPACE for belief in its value, use the token for governance in MVC, and pay gas fees.
The holding incentive will come when there are more BTCfi projects built on MVC.
🔹 Bitcoin Holder
MVC provides an external "operating system" for Bitcoin through smart contract applications
The goal is to provide services for Bitcoin holders similar to how Layer2 benefits Ethereum.
🔹 Contributors + Builders
Directly benefit from retroactive funding and the markets they create.
In general, building the ecosystem, structural tools, education, applications, and infrastructure... will benefit from capital funding.
🔹 Users and Community Members: Benefit from infrastructure applications, airdrops, and project incentives from the ecosystem.
4️⃣ Why SPACE potential
MVC is unique because it aligns with Bitcoin's UTXO model, combined with the vision of becoming a leading sidechain for Bitcoin.
Focused on creating an inclusive and efficient blockchain ecosystem:
✅ Scalability without limits
✅ Fee reduction mechanism
✅ Transactions without confirmation
✅ Integrated data storage, smart contract execution, and transactions in a single chain.
In summary, MVC = BTC sidechain + Ordinals + Incriptions + DID but at a low market cap of $16M compared to Stacks' $940M market cap; $RIF $113M market cap.
Tanaka
@Tanaka_L2
Contributor at @hashflow | Ambassador: @ton_blockchain , @Mantle_Official, @arbitrum Founder of @Kollab3dotcom TG: t.me/Tanaka_L2
