What is MOAC?
MOAC (MOAC) is a novel cryptocurrency that employs the use of a “multi-layer blockchain architecture,” meaning its blockchain is separated into layers with each one dedicated to performing a different category of tasks. In this way it plans to create a platform more suitable for the development of DApps, mainly to be used for commercial purposes. By using a scaling technique called “multi-blockchain sharding,” the MOAC platform can simultaneously increase its network capacity and performance. This technique also allows it to reduce transaction fees for smart contracts while incentivizing mobile and desktop users to participate in its mining process.
History of MOAC
MOAC was developed by MOAC Blockchain Tech, Inc., a registered for-profit U.S. company with executive offices in Palo Alto, California and an extended development team in Beijing, China. Inspired by the need to solve the inherent problem of limited scalability in leading cryptocurrencies like bitcoin and Ethereum, the MOAC platform design was developed to increase and maximize blockchain network performance by making full use of node-based computing power. MOAC began development in mid 2017 and by August 2018, it surpassed a $250 million market capitalization.
How MOAC Works
MOAC is a true next-generation cryptocurrency in that it takes the best features of pre-existing blockchains, combines them together and makes improvements upon them. For instance, MOAC employs the use of both Proof of Work (PoW) and Proof of Stake (PoS) mining methods, has a multi-layered blockchain architecture to speed communication within its network, and uses asynchronous smart contracts that can operate independently from the rest of the blockchain. The platform makes its improvements on blockchain technology by offering a new type of smart contract processing, which they describe as “on-demand, timed, and savable.”
In addition to the improvements it makes on the transaction process as conducted by classical blockchain structures such as those used by bitcoin and Ethereum, MOAC offers some unique approaches in the design of its platform. Some of them include:
High-degree of Scalability: MOAC uses a technique known as “blockchain sharding” to increase its level of scalability to degrees beyond that of bitcoin and Ethereum.
Independent Operations: Through its layered blockchain approach, smart contracts designed for the platform using “MicroChains” keeps types of data distinct, non-overlapping and well-organized.
Interoperability: MOAC’s coding design allows for cross-talk with other blockchains, making its functions integratable with pre-existing cryptocurrencies.
Fast Transactions and Network Operations: By differentiating categories of data transmitted by and stored on the platform, MOAC’s advanced layering technique allows for an increase of processing speeds by several levels of magnitude (anywhere from 10-100x faster than that of pre-existing blockchain technologies).
DApp-Centric: In addition to solving the problems of limited scalability, MOAC was designed with commercial DApp developers in mind. Its advanced, user-friendly, open-ended API allows application development for a wide array of uses, from business solutions, to finance management, to network communications and well beyond. It allows developers to make DApps that can be concurrently run on other cryptocurrency platforms, using popular DApp coding standards, like ERC20.