What is MOAC?
MOAC is a third generation blockchain that aims to solve some of Bitcoin and Ethereum’s biggest problems by using a layered multi-blockchain architecture, sharding, sidechains, smart contracts, and cross-chain capabilities.
What is the problem?
MOAC seeks to solve many problems with the current state of blockchains. Existing blockchains are complex, require high usage fees, and are not scalable. Mining is highly centralized and does not incentivize new users to mine. Blockchains cannot communicate effectively with each other, which has caused a segregated blockchain marketplace. Some blockchains alleviate those problems by sacrificing security and/or decentralization.
What is its solution?
MOAC multi layer blockchain system that enables users to create their own blockchain called a microchain. With Bitcoin, users are able to use a token. With Ethereum, users can issue their own token. With MOAC, users can deploy their own blockchain. Basic token MOAC transfers take place on the base layer of MOAC’s blockchain, and transactions with smart contract take place on the sidechains. By using side chains for smart contracts, the main chain should not get congested. Not only does MOAC use sidechains to reduce congestion, but it also uses blockchain sharding to help ease processing transactions. Sharding subdivides the network into pieces so that it can be processed quicker and easier. For more information on sharding visit BlockWolf’s sharding explained page.
MOAC’s microchains are flexible and can support the consensus model of their creator’s choice. Additionally, its microchains are cross-chain compatible, so they are able to interact with each other.
Mining and Supply
Nodes that verify transactions on the network receive MOAC tokens. MOAC’s supply at the time of this post is about 62 million, with an additional 94 million in reserve. Out of that reseve, the MAOC for-profit entity holds 31 million coins and the MOAC foundation holds 63 million. The 31 million is funding its ongoing blockchain development. The supply will increase by 6 million per year but that increase will be cut in half every 4 years. Moac’s supply will reach an upper limit of about 210 million coins by 2058.
What is the point of the coin?
The MOAC coin is used to pay for computations within MOAC and create MicroChains.
Who is their team?
Sha Zhou, David Chen, and Xinle Yang founded MOAC and they all have blockchain experience. Sha Zhou led multiple tech companies and has written books about blockchain. David Chen was the CTO of Jingutm, an solution provider for physical asset tokenization. Xinle Yang has worked as an engineer for Walmart, Intel, Nike, and has over 5 years of blockchain developing experience. Their whitepaper claims that they have 25 employees.
MOAC has set up a good foundation to have the potential so solve blockchain’s biggest problems of scalability, security, and decentralization but the project is still young. It appears that they have the infrastructure to succeed but it needs more community support and more applications to be more convincing.