Multiversum ICO Clears Nearly $3M With Crypto Relational Database
Multiversum, found online at Multiversum.io, promises to help you join the blockchain 4.0 revolution. Find out how it works today in our review.
What Is Multiversum?
Multiversum sees itself as a blockchain 4.0 platform. It’s a brand new blockchain that features things like a “multidimensional structure”, splittable chains, and high scalability.
A pre-ICO for the company raised $2.9 million in 6 days in early March 2018. That pre-ICO has a hard cap of $60 million USD and will continue until March 31, 2018. The company believes it will hit the hard cap before the sale is closed, according to a recent press release.
Multiversum sees itself as a fourth generation blockchain because of its use of relational databases. The Minsk-based development team believes relational databases will be exceptionally useful for enterprises, governments, banks, and other organizations seeking to adopt blockchain technology.
If Multiversum is fourth generation, then what were the first three generations of blockchain technology? The first generation, according to the Multiversum team, was bitcoin, Litecoin, and other proof of work coins. The second generation included “coins with tokens like Ethereum”. The third generation includes proof of stake blockchains.
How Does Multiversum Work?
Multiversum sees itself as a fourth generation blockchain. The main innovation here is that Multiversum has created not just one blockchain, but multiple blockchains in a “Crypto Relational Database”. This spreads blockchain data across “multiple dimensions”.
This unique system is designed to offer enhanced scalability and flexibility. Multiversum wants to be the ideal blockchain to meet enterprise needs, for example, and to do that, it needs to offer leading scalability, security, and flexibility.
The Crypto Relational Database will be an “advanced and organized data storage solution” that can handle more than just a single data type: it can handle a series of data entities grouped in graphs of complex data structures related to one another.
Another unique feature of Multiversum is the use of “Proof of Identity” consensus instead of proof of work (PoW) or proof of stake (PoS). Proof of identity creates consensus through “cryptographic proof of server code”.
One final unique feature worth mentioning on Multiversum is that it’s capable of using ERC20 and ERC23 tokens, allowing coins and tokens from other solutions to be hosted on the Multiversum chain. Multiversum will also have its own native token called MTV.
What Does Multiversum Hope to Accomplish?
Multiversum sees its platform as a way to achieve something called the “Green Will Manifesto”. They claim the manifesto can be boiled down into three main concepts:
This is the social aspect of the manifesto, and it includes individual development and respect of human values.
This is the environmental aspect of Multiversum, and it includes respect for the environment.
This is the economic aspect of the manifesto, and it determines the feasibility of the project.
By emphasizing each of these three targets, Multiversum will achieve its goals of using blockchain to make the world a better place. Basically, Multiversum wants to avoid PoW blockchains that use excessive amounts of energy, but it also wants to emphasize the importance of profit and the importance of people.
What Problems Does Multiversum Seek to Solve?
Multiversum seeks to solve the following problems, as identified on the official website:
- Modern websites can’t interface complex data and provide that data promptly to the network
- Modern blockchains also don’t allow back-end control over system integrity and security, making modern blockchains subpar for institutional, financial, industrial, and governmental environments
- The complexity of cryptocurrencies makes them difficult to use in the modern economic environment
Ultimately, all of the problems listed on the Multiversum website seem a bit unusual. They seem to refer to public blockchains instead of private blockchains. Today, many banks, governments, and enterprises are implementing private blockchains where they have full control over system integrity and security, for example.
In any case, Multiversum sees its relational blockchain 4.0 as the ideal solution to these issues.
Multiversum emphasizes all of the following features:
- Fast transaction speeds of 0.2 seconds when moving MTV tokens between two wallets
- 64 core server capable of manaign 64,000 transactions per second
- Proof of Integrity (PoI) system that will replace PoW and PoS
- Relational database, which is a new kind of blockchain that features different types of data organized into a multidimensional structure
- Divisible or splittable chains, where workflow is distributed on available nodes to split the main chain into sub-chains
- Interoperability with other blockchains, including the ability to use ERC20 tokens and ERC223 tokens on the network
- Multiversum mainnet
- Smart contracts
- Fully decentralized system
- Backup or recovery nodes that function as a global disaster recovery system
- Multi-currency wallet
- Biometric data access
- Low fees
- Data sharding
- Fraud prevention rollback
- Mobile app support
The Multiversum ICO
The Multiversum pre-ICO began on March 1 and will end on March 31, 2018. The main ICO, meanwhile, is scheduled to begin on April 4 and end on June 10, 2018. Multiversum is seeking to raise $65 million USD during its token sale. Each token is priced at a base rate of $1 USD, although bonuses are available throughout the pre-ICO and ICO.
There’s a total supply of 141 million MTV tokens. 76% of the total supply is reserved for the token sale. The remaining tokens are dedicated to the founders and team (15%, locked for 12 months), collaborators (6%), and advisors and partners (3%).
Who’s Behind Multiversum?
Multiversum is led by founder Andrea Taini. Co-founders include Michele Roscelli, Matteo Monti, and Matteo Peterlini. Multiversum was founded in Minsk, Belarus in 2017. However, the founder, Andrea Taini, lists a founding date as October 2016 in Budapest, Hungary. Taini also appears to be based in Budapest.
Multiversum sees itself as a fourth generation blockchain technology (bitcoin, Ethereum, and PoS blockchains were apparently the first three generations, respectively). Multiversum will sort data into a relational “multi dimensional structure” in order to create the ideal organization system for businesses, enterprises, banks, and other users seeking to implement blockchain for enterprise use.
To learn more about Multiversum and how it works, visit online today at Multiversum.io. The pre-ICO is underway until the end of March 2018, while the ICO continues until June 10, 2018.