When Satoshi Nakamoto envisioned blockchain in Bitcoin whitepaper, it was meant to power a worldwide, decentralized, peer-to-peer currency. The blockchain then was prophesied to change the world as we know it. Subsequent research and development in this arena, introduced Ethereum and Smart Contracts that proposes a view in which blockchain technology could be used to facilitate the management of digital assets without enforcing platform ownership. If Bitcoin was the first generation, Ethereum ushered in Second Generation for the Blockchain Technology solving the problem of ‘centralization of the internet by giants like Facebook and google.’
It seems that the third generation of blockchains is on the horizon which is built with the enterprise in mind. Developers can create an entirely new blockchain with its consensus mechanism and rules. Third Generation of Blockchain aims to take the technology to the masses, and this requires Salient Scaling Solutions.
MOAC which calls itself ‘Mother Of All Cryptocurrencies’, is a China-based third generation blockchain project which perfectly balances scalability, security, and decentralization and is all about enhancing the performance of blockchain. MOAC is using a multi-layered blockchain architecture which will improve smart contracting thus making its platform performance better by a significant margin compared to already existing platforms. MOAC uses a multichain architecture with microchains built on top of MOAC base layer which ensures a scalable solution that enables seamless connectivity.
Four key features fortify MOAC project are
Proof-of-Work algorithm – MOAC token was an ERC-20 token on the Ethereum network. The use of Proof of Work prevents exploitation and abuse by third-parties.
Sharding – Sharding means the division of large pieces of data and information into smaller and more easily manageable shards that are faster at processing transaction requests made making the platform faster and efficient at all times.
Cross Chain Compatibility – Means that it can easily link up with other blockchains within the system as well as external blockchains and even cryptocurrencies. It also can swap blocks between blockchains and use atomic swap based cross-chain
Strong Developer Community – MOAC community-based in China is very strong and has a significant presence across social media. This community is known for building efficient dApp, tokenization, and exchange platform.
However, MOAC is still a struggling project businesswise, even though it is technically perfect. Though the social community is over 100,000, it’s a very quiet community. For a blockchain to be successful, it needs to be accepted by both enterprise and consumers. And until that happens, MOAC will not go mainstream.