Crypto Project Reviews

Altcoinist Review: $SPACE, MicrovisionChain

July 1, 2024

The Bullish Case on the Bitcoin Ecosystem

  • Fair-launched
  • PoW (Proof of Work)
  • Pre-spot ETF

Bitcoin's Evolution and the Scalability Challenge

  • Bitcoin, initially a peer-to-peer electronic cash system, has become a store of value, often termed digital gold.
  • The gold market cap is $13T, and Bitcoin could exceed this in the future due to its scarcity and digital nature.
  • Institutional interest, highlighted by BlackRock (over $9T Asset Under Management) and the anticipated Bitcoin spot ETF (possibly by January 2024), underscores Bitcoin's growing significance in the modern financial world.
  • Scalability issues have emerged as a critical challenge, necessitating efficient solutions to maintain Bitcoin's relevance.

MVC Global: The L2 play for Bitcoin

  • MVC addresses Bitcoin's scalability and programmability as a Layer-2 network or sidechain.
  • ETH Layer-2 solutions helped to amplify Ethereum's position in the market; this could happen with Bitcoin as well.
  • MVC is a scalable blockchain for 8 billion users with Layer 1 DID and high-performance smart contract capabilities.
  • Adopts a big block scaling strategy, tested for years.
  • Operates a POW mechanism to ensure high-level decentralization and builds super nodes to help miners process massive data.
  • Applies parallel computation algorithms from experts in high-performance computing to maximize node performance.

Key Features of MVC

  • Layer-2 Network: Enhances Bitcoin's scalability and programmability.
  • UTXO-Model Layer-One Blockchain: Aims to solve congestion while keeping fees low.
  • Exponential Scalability and High-Concurrency: Achieves high transaction speed and scalability.
  • Cross-Chain Decentralized Identity (DID) Solution: Ideal for Web3 applications and daily transactions.
  • Comprehensive Functionality: Combines Bitcoin's features with smart contracts, decentralized identity, and unlimited scaling.

Potential Use Cases of MVC

  • Web3 Applications Development: MVC's smart contract and decentralized identity solutions support robust Web3 applications.
  • Enhancing Bitcoin's Usability: Addresses scalability and programmability, unlocking new Bitcoin use cases.
  • Cross-Chain Interoperability: Facilitates interoperability between Bitcoin and other blockchains.

$Space Tokenomics

  • Fair launch, no ICO or IDO. Establishment, node operation, and executive operation all financed by initial contributors.
  • Designed for long-term sustainability, with a slow circulation increase and a relevant max supply for the current cycle.
  • Token price: $19.11
  • Market cap: $35M
  • Total supply: 21M (9% circulating)

MVC's Ecosystem

  • Ecosystem Growth: MVC's ecosystem is live with applications like Show3, MVC Swap, and Metalet.

MVC's Technical Innovations

  • High-Level Decentralization: Uses POW consensus and SHA256 mining algorithm, similar to Bitcoin.
  • High Performance: Refined UTXO model allows high concurrency and transaction confirmation.
  • Built-in Distributed Identity Protocol: The MetaID protocol supports high-performance Web3 applications.
  • Layer-1 UTXO-Based Smart Contract: Supports Turing-completed smart contracts with high performance and low fees.
  • Bitcoin Virtual Machine (BVM): Enhances the functionality of smart contracts based on Bitcoin.

MVC's Role in Bitcoin's Future

  • MVC stands out as a comprehensive solution to Bitcoin's scalability challenges.
  • By enhancing Bitcoin's transaction capacity and introducing smart contract capabilities, $SPACE is poised to revolutionize Bitcoin's usage in the decentralized internet economy (Web3).

Gordon Grant's Quote

"After the creation of gold spot ETFs, trading volumes across a variety of gold instruments, ranging from the ETFs themselves to underline spot to futures and options, both OTC and listed, along with correlative proxies, increased by orders of magnitude over the years that followed." conclusion

  • Betting on $SPACE could be a smart beta play right before spot ETFs get approved and the market capitalization of Bitcoin skyrockets.