Blockchain
MultiVAC CTO Shawn Ying – The All-dimensional Sharding Plan of MultiVAC is the Ultimate Multi-Core World Computer People Need
Recently, MultiVAC – the public blockchain known as ‘Sharding Killer’ received an interview from the top one Korean blockchain media CoinNess. Dr. Shawn Ying, the CTO of MultiVAC, explained MultiVAC’s Sharding plan in detail.
Sharding plan has become phenomenal in public blockchain’s scale-up research area. Vitalik Buterin, the founder of Ethereum, also expressed his personal confidence in this scale-up plan’s feasibility – ‘Five years ago, almost no one was thinking about sharding; now, sharding designs are commonplace.’ Ethereum plans to launch its first Sharding version (ETH 2.0) in the first quarter, 2020. It’s anticipated that its testnet can reach a much higher TPS than the current one. However, the Sharding plan also faces various challenges like how to solve cross-Shards synchronization, how to avoid state explosion problems, etc. Proposals on the market are far from mature.
Dr. Shawn states, ‘Through the world’s first all-dimensional Sharding plan, MultiVAC achieves effective scale-up in computing, storage, and transmission, and can fully support large-scale application’s implementation in real business scenarios. Compared with other Sharding plans, MultiVAC’s is more efficient, flexible, and scalable. MultiVAC can be deemed as the ultimate Multi-Core world computer which can never be shut down’.
‘In cross-Shards collaboration, MultiVAC is the first to adopt asynchronous collaboration strategy. The asynchronous collaboration makes sure our Shards never block each other. The data miners exchange among Shards are merely block headers, which is very concise and fast. No performance bottleneck is detected yet. And the network is guaranteed to achieve efficient expansion.’
‘In addition, MultiVAC designs a separation mechanism for the data storage right and data control right. Storage nodes will only serve for storing data as the network’s infrastructure, and can not tamper with the data. While, miners nodes have the complete control right of the data, and can verify & update the data through the consensus mechanism. In virtue of this interactive storage strategy, MultiVAC successfully eliminates the possibility of state explosion problem’.
MultiVAC reaches 30784 TPS in the lab test environment. And as the number of nodes and Shards increases, so does the entire network performance. MultiVAC truly achieves the linear expansion of blockchain performance and has breakthroughs in Sharding technology. To pay tribute to the 11th anniversary of the birth of Bitcoin’s Whitepaper, MultiVAC launched a mining client beta test on 31st Oct and delivered a smooth and efficient mining experience for all the testers. It’s reported that MultiVAC testnet 3.0 will launch a brand-new mining client and support dynamic re-Sharding function soon.
SOURCE MultiVAC Foundation
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Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.
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