Earlier today the founder of cryptocurrency Multiversum, Andrea Taini and a few of his colleagues took time out from conducting their ICO and opened up to the members of the official Multiversum Telegram channel for an hour to answer questions from the community.
In answering the questions, the passion that the team have for the project shone through, and also the fact that they are going about their work in a diligent manner, taking logical steps to progress along their technology roadmap and make Multiversum a reality.
We at TheCoinRadar.com have re-produced the questions from the Q&A below. Whilst we were unable to include the names of the questioners (with the exception of ours, as we asked them), we have stayed as faithful as possible to the original questions and answers, amending them only to correct any typos and alter syntax to improve readability. Questions have also been moved around in a few cases to aid readability: for example, the ‘explain blockchain to us’ question has been moved to the top.
Alongside answering the questions, Andrea also let slip a few exclusive pieces of information and provided the following documents and links :
- The [Draft] Update of the MTV White Paper
- The [Draft] Proposed MTV Vote System for the Italian Election
- The test app for MTV
So, please, read on to find out which major cryptocurrency MTV have partnered with, which nation will be voting on using MTV to power its national elections (there may be a spoiler for that above), and just how big MTV plan to be…
Questions are in bold, with the answers directly below. Any follow-up questions are so indicated. The raw data was copy and pasted directly from Telegram, and we have included a link to that document at the end of the article for reference.
How would you try to explain the project to people who do not understand anything about blockchain and cryptocurrencies? What do you have in mind to create in order to facilitate the effective use of technology and encourage its ever-increasing use?
Blockchain is a new technology, and one which adds a layer of reliability to transactions, or in our case to any kind of data.
If you are a business you may have the need of data validation and verification, and blockchain may be a good solution for you. If you take a look at the use cases in our website, there are some good examples. A car insurance company may use Multiversum technology to store complex data (like car information, people information, history of incidents) and based on this data, could provide a better pricing to their customers.
Our main objective is to allow businesses to implement a blockchain solution without having to rewrite all their software, in fact we are providing libraries that follows the industry standards
Can you explain how a multinational company could use Multiversum to improve the way it manage its databases? Do you have examples?
A corporation can use Multiversum to allow transparency, certainty and accountability within its processes: employees can’t falsify data anymore (a major problem in many corporations) and can have data that can be mathematically and empirically proved in court if necessary.
Beside, every time a multinational makes a project with partners, they can warrant that they are providing credible data: this is the case for example with DHL, with whom we are planning a pilot, as they are making a consortium of global transporters.
What will you do about mass adoption of MTV? Do you have any strategies? A split of tokens?
Part of my staff believes in marketing. I do as well, but I believe more in technical adoption: our libraries give the correct way of working with blockchain, providing several levels of abstraction that allow programmers to develop applications in BC [blockchain I think?] with the same knowledge and efforts required for developing normal applications. This means lowers costs, less time to market and therefore lower risk.
Besides, modern function of the blockchain of 4th generation: data is already queried in nodes, not locally in the dApp, so there will be no bug, it will be faster and ready to use. Mass adoption is based – in my view – on technical sharing of Multiversum.
Also, we are making several partnerships with solution providers (for example, Hyperchain in Dubai), other ICOs and Blockchain (for example NEM and Advertix) and we are speaking with corporations (DHL and Microsoft for example)
Further, we are taking actions with Governments: a pilot project will be done with the Hungarian Treasury Department, and in Summer the Italian Parliament will be voting on a law to make Multiversum be used for the national election system: if this is successful then we will more quickly be the first Blockchain platform of the market instead of Ethereum.
[TheCoinRadar]: at time of writing, MTV is the only project which combines data sharding, relational databases and the energy efficient Proof of Integrity consensus algorithm. However, do you feel that will still be the case by the time your blockchain is fully operational and, if not, what other differentials do you think will be important in marking you out from the increasingly numerous blockchain 4.0 projects?
Things in Blockchain world, and more in general in information technology changes really fast. Right now our project is really innovative, and thanks to this we are creating a network with a lot of small/medium businesses and BIGs. This will allow us to have big roots and grow with time, always improving the technology
(Follow up Q): That makes sense. Following on from that, do you imagine that your infrastructure will be able to work in conjunction with and alongside other, similar projects such as Wanchain, aXpire and Quarkchain? Or do you feel that it will be 'one ring to rule them all', so to speak?
We met some of those chains during our exhibitions, and our philosophy is to co-operate. We will be always open to new collaborations and partnerships. Right now we don't have any official agreement with them or other blockchains, but we are looking around 🙂
We promote interoperability with other blockchains! 🙂
Will your code and smart contracts be open source?
All our code is open source, I [Andrea Taini, the Founder] already gave the order to [Andrea di Michele, one of the development team] to release it.
The only industrial secret is the code of the libraries that transform Java, .NET, Arduino and JS objects into a blockchain-compatible format.
This is where we will gain later: anyhow any external implementation can be developed upon our technical specifications.
Because Multiversum is open source, does the MTV team have any strategy to fight and project cloners/ hard forkers?
We encourage others to clone and fork our code for nodes. The only secret will be the libraries to integrate in applications: that can be done by themselves if they want.
[TheCoinRadar]: As you are encouraging cloning and forking of nodes, will this be with the aim of increasing nodes for your own network? If so, how will this work please?
Having other initiatives cloning us means that they reinforce our leadership position in Cryptoworld. And we strongly believe in Open Source community.
[TheCoinRadar]: with MTV's commitment to developing data sharding, and also for the cross-utilisation of other tokens - such as Ethereum-based ones -, will you be looking to bring the nodes of other tokens and infrastructures into your network to improve network speeds and the quality and adaptability of your nodes?
No, we make some entrypoints of other blockchains for other token for being imported into MTV (through an adapter and a buffer).
it will be possible to use the crypto-relational database with the current database query languages, such as SQL?
It's "easy" to store complex information in a crypto-relational database. The problems arise when you want to access the data.
As you probably know, we [MTV] are implementing a sharded data structure. This means that your data is not present in every single node but it's sharded. Due to this, implementing an SQL-like language is hard – but we made it! When you write an SQL query there is an intelligent algorithm that explodes the query itself into a sub-set of simpler queries. The data is then collected and returned as either a single object, or an object with joined fields
How do you plan to preserve the technology and maintain a prevalent situation given the ruthless competition?
Our libraries for creating SQL strings from Java objects are the real magic: these won't be given as Open Source. Therefore, competitors will have always to follow and Multiversum to drive.
In my intention that we will be the next Ethereum for several years.
As you know, we are an ICO and also a start-up. Our team is composed of both highly-experienced developers and also young ones. This allows us to be extremely flexible.
What are you reading now about our technology is just a starting point. With time we will improve our technology to ensure we are always be one step ahead of the competition, without losing any reliability
I have a very elementary question: in a database application, when i want to update a record, does there will be an insert instead? To preserve data in the blockchain... How much does this will impact in large databases with many updates? THANKS!
Exactly. Every record is split into two: one constant part that has many State of records.
I suggest to read the technical update (link at the top of the article) to understand it better. 🙂
Thanks to Multiversum it will be possible to manage the data as much as possible, but how can a small company expand using the technology?
It's really easy to adopt Multiversum Blockchain Technology, also for small businesses. Since we are using industry-standard languages, your company doesn't need to hire a specific blockchain developer. You devs already know how to use our libraries and just need to follow the documentation.
When will there be an audit of your code, and will the audit be done internally, or by a third party?
The smart contracts have been already audited by a third-party company. The code itself will be released to the public on github this week, and then everyone will be able to see it and, should they wish, audit it.
Can you reveal what hardware will be required to run a node, and what the rewards will be?
The system decides what nodes contain any single application (regionalization of data), and so the most advanced nodes will have more possibilities to receive biggest request for data saving and querying.
[TheCoinRadar]: you mention in the whitepaper that you are planning the release of a new, biometric app - will this be for business users as well as individuals?
Biometric features can be used for private, corporate and Government applications. I [Andrea, the Founder] have several years of Government environment system planning, because I was the Director of the Hungarian Research & Development Department for the Ministry of Internal Affairs, so I know their requirements, needs and possibilities pretty well.
Is the partnership with NEM just to be able to buy MTV with XEM, or more than that?
This is an exclusive: with NEM and Advertix we are planning to make a new ecosystem, a sort of Decentralized System Operation in which we give a decentralized Database in Blockchain, Advertix a dec. File System and a streaming mechanism in BC(Input-Output) and NEM the decentralizing motor.
That will be THE answer to any Decentralized App.
[TheCoinRadar]: What plans do you have to market the MTV blockchain to businesses? Have you already begun?
We are developing a software development kit, for easy integration with business software.
We have also been in different exhibitions: London Blockchain Expo, Dubai Blockchain Summit, London Again, Consensus, we will be also in Hong Kong in June.
We are going to this exhibitions not only to catch investors, but also partnership with businesses. We are having a lot of really good feedbacks
Any ICO leaks that will run on multiversum blockchain or too early?
it is a little too early: we try to make Invox using at least our technology from now to let them migrate as soon as possible to our ledger
Can you better explain the agreement between MTV and the Italian party regarding voting abroad?
I have been personally asked by Forza Italia Senators to making a solution for electoral vote in Italy, with vote protected by Blockchain.
My solution has been welcomed and approved and they are writing a law proposal based on it (May the 28th) to be voted as soon as possible in the Italian Parliament.
How could you ensure, if MTV was to be used for the Italian electoral system, the anonymity of who voted for who?
The vote will be made in traditional cabinets as normal, but the votes will just be stored electronically and stored securely in Blockchain.
There is also an innovative proposal to use a "virtual cabinet" that use sensors and camera on advanced mobiles to create a secure environment: but this is something still far away from being introduced.
Electronic vote now has its time!
And that was that! I hope you have all enjoyed an insight into the minds of Andrea, his team and their visions and hopes for Multiversum.
Here at TheCoinRadar we are creating a four-part series on Multiversum (‘MTV’), the 4th Generation Relational Blockchain. For more information about this project, please click the following hyperlinks o read Part 1, Multiversum: An Overview, Part 2, Multiversum: Token Metrics, and Part 3, Multiversum: the Team.
For more information and to invest please head to Multiversum's official links below:
Telegram Q&A raw data link: MTV - Telegram Q&A - Raw Data