The past year has been a gloomy one for the blockchain industry. Even the very word "blockchain" because synonymous with scamming in many countries and many media reports suggested that 90% of tokens in the market would end up having no value at all. Governments from major countries in the world have been regulating tougher and tougher policies on blockchain related projects. On one hand, even though blockchain technology is still being encouraged, the public has become more and more doubtful whether they can be of any benefit the real economy at all, and on the other hand the top public blockchains have already established major dominance in this new market. Will there be any opportunity for any new public blockchains to succeed?
Although the market looks tough and te future seems unpromising, we, a group of blockchain developers and blockchain business practitioners, have gathered and decided to launch a blockchain project, small but beautiful, to try to prove to the world, that blockchain technology can improve the welfare of businesses, especially the Small and Medium Enterprises (SMEs). We call ourselves Mellivora Capensis (Latin for Honey Badger) Family, a family of extraordinarily brave creatures in this world who dare to fight against tougher enemies no matter how dire their situation. Our project is called MCF Chain, a decentralized public blockchain platform designed for value-exchange and asset-exchange among authentic businesses, allowing businesses to benefit from a shared customer base thus improving the welfare of businesses by means of a shared economy, and our cryptocurrency is called MCF.
To be more specific and in a language readable for a non-technical business audience, our MCF project wants to be able to assist businesses with innovative asset tokenizing using blockchain technology. We can help in the following aspects:
Providing a turnkey solution for SMEs to issue tokens, manage their tokens and allow their token holders to exchange on the MCF blockchain without the need to go through any third-party centralized exchange, thus eliminating undesirable listing costs, avoiding considerable transaction costs and complicated market value management costs for businesses while they bravely embrace the opportunity of using blockchain technology to grow their businesses.
Providing a low-cost solution for businesses to tokenize their customer loyalty point programs (including vouchers) and benefit from a shared platform where customers can use different point tokens to exchange for a variety of products or services from other businesses in the platform.
Below are key functions of the MCF Blockchain：
Account Setup and Management
Wallet and payment transactions for MCF coin.
Asset Management including issuing tokens, one-key airdrops, locking etc.
Messages
Tokens can be bought or sold using the MCF Native coin thus effectively enabling users to exchange one token for another
Group Management
Blockchain Explorer
Here are some important specifications about our MCF Chain.
MCF is positioned as a blockchain platform designed for value-exchange and asset-exchange among authentic businesses.
In terms of the consensus mechanism, MCF uses PoA (Proof of Account). The advantage of Proof of Account is that much like PoS it doesn’t need high energy costs or expensive specialized hardware but also as it doesn’t require “staking” there is more incentive to “spend” than to “hoard” (meaning that it should lead to more economic activity). It may start as being centralized looking like DPoS, but over time as child minting accounts are created, it will become far more decentralized. In this PoA implementation the initial genesis minting accounts will be limited to one hundred. Genesis accounts are distributed among early investors, strategic resources contributors for MCF ecosystem, founding developers and founding business members, who together have contributed to the development and launch of this project. The MCF project has not performed any ICO nor accepted any other type of funding other than donations before the product launch. Donations collected will be used to support the development team’s work for the longer term and for the founders to continuously improve the MCF family team.
MCF Chain rewards minting accounts if they run a node that is accessible to the network. They can mint with standard computing hardware. They are encouraged to remain on line continuously to obtain MCF through minting blocks. The total amount of MCF is capped at 100,000,000. 10% will be insta-mined to be used for marketing and operation purposes for establishing the project. Most of that will be used for initial client acquisition, which will be a very important potential shared customer base to assist SMEs to benefit from using and participating in our blockchain. 90% of the total MCF coin will be created by block minting.
Minting Stage 1:
Initial Minting Accounts: 100
Initial Minting Reward: 160MCF per block
Blocks per day: 1440
Each initial minting account can create 50 child minting accounts only after they have minted 2600 blocks (on average that should take around 183 days or half of a year).
Minting Stage 2:
At block 260,001, which occurs approximately 183 days after minting has commenced, the reward will be reduced to 40MCF per block. Each child minting account can create its own 50 child minting accounts after it has minted 50 blocks.
Minting Stage 3:
At block 789,120, which occurs approximately 548 days after minting has commenced, the second reduction of reward will occur. The reward will be reduced to 10MCF per block.
Minting Stage 4：
At block 2,366,000, which occurs approximate 4.5 years after minting has commenced, the third and last reduction of reward will occur. The reward will be reduced to 2.5MCF per block for ever.
MCF Chain charges 3000MCF from businesses each time they issue a token and charges 0.00001 transaction. This will subject to change based on a voting mechanism in the blockchain. All the fees will be randomly rewarded to minting accounts. Thus although the minting reward will shrink dramatically, revenues coming from usage of the platform will continue to benefit all minting accounts.
In terms of programming languages used, MCF is mostly written in .
MCF chain’s block time is generally 60 seconds per block and the block size is at most 10MB. TPS is estimated to be around 1,000 for the initial stage but scalability plans have been made for a “layer two” approach that will be developed in the future depending demand.
To briefly sum up, MCF aims to be a more decentralized public blockchain supporting token exchange thus allowing real businesses to be able to exchange value and enhance their business via joining a shared economy. MCF is born and designed to serve businesses, especially SMEs to improve their welfare and value. We understand the blockchain market is tough nowadays. “To be or not to be. That is the question.” However, as MCF members, we don’t want it to be a question. Like Mellivora capensis, we will “take arms against a sea of troubles, and by opposing end them.” MC Families, let’s rally and rock.
Official Website:
http://www.mcfamily.io/#/homeBlock Browser:
http://www.mcfamily.io/#/browser/indexSource code:
https://github.com/ciyam/MCFAPP source code
https://github.com/ciyam/MCF-UI-AppUI source code
https://github.com/ciyam/MCF-UI-Node