History

MVC has the same underlying architecture as Bitcoin. It is an open-source UTXO architecture Layer 1 POW that utilizes the SHA256 algorithm for its POW.

Strictly speaking, Bitcoin paved the way for peer-to-peer electronic cash. To maximize decentralization and security, BTC(Bitcoin) main chain intentionally limits block size and functionality.

MVC aims to address the functionality limitations of Bitcoin and supplement a sidechain solution!

The original intention of MVC is to find a solution that can support a layer 1 contract with scalability as needed while ensuring sufficient security, in order to facilitate Bitcoin for more functionality. This is similar to the original intention of Arbitrum and Polygon to supplement Ethereum.

For this reason, MVC need a long-term testing environment similar to the Bitcoin architecture. Ultimately, MVC chose to test on two of the bitcoin forks, because of their transaction fees are the lowest in the Bitcoin architecture. In the long two-year testing period, we accidentally discovered a solution that can be scaled with demand and implement 'Turing-Complete' smart contracts (MetaContract) on a layer 1 UTXO model in the Bitcoin architecture. After discussing with developers from various fields, we jointly found that this solution is practical and sustainable. Therefore, we united multiple different developer teams to jointly promote the establishment of the MVC public chain.

We believe that MVC not only theoretically can provide the best Bitcoin sidechain service in terms of technology but also has potential far beyond that in the future. This is mainly because we accidentally discovered that it can be scaled as needed, and coupled with native decentralized DID technology [MetaID], it has the potential to become one of the underlying public chains that support a large number of Web 3 applications in the future.

It can be simply understood: MVC =

» Bitcoin architecture

» High-performance smart contracts

» Decentralized identity

» Scalability as needed

» Instantaneous transaction speed.

» Same user wallet addresses on $SPACE and $BTC, like $ARB and $ETH. [This feature is optional choice by user in the future]

https://twitter.com/RvCrypto/status/1646794441070465025?s=20