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Development Blog

Check the development blog to get

insights into the growth process of MVL


Blockchain[MVL 2.0] Launch of Hybrid Blockchain

관리자
19 Aug 2021



Launch of Hybrid Blockchain


As previously mentioned at the MVL 2.0 Conference, today we would like to inform you of MVL's new blockchain business structure.


MVL has envisioned a new blockchain business aiming for the “independence of Ethereum network” due to the high gas cost, slow transaction time, and others.


In this process, we decided that operating only Public Blockchain as existed ways has the following limitations:


  • If data is only registered in the Public blockchain, all the data can be viewed easily, which eventually is difficult to implement effective data business with the Public blockchain alone.

          → This is also the reason why MVL Foundation currently operates Github as an undisclosed Private repo.


Therefore, the newly envisioned blockchain business will be changed as:


  • Hybrid blockchain: Public blockchain is only used to prove the integrity and updated history of related data, and record only practically sales-worth data at Permissioned blockchain.

          → At the same time, we will open some Github and provide Evaluation Bot from overseas evaluation websites to give elements to prove the security of MVL's developing environment.


By including these changes, the integration with Tezos network has been completed, and after thorough testings, MVL Hybrid blockchain, which connects Tezos Public blockchain and MVL Permissioned blockchain, will be launched. 


Through MVL 2.0 Hybrid blockchain, we will accumulate Data Validation in the actual MVL ecosystem and will continue to develop a more advanced blockchain network with accumulated know-how.




New Structure


There are two key points of the new MVL 2.0 blockchain structure.

 

1) Issue of NFT(Non Fungible Token) 

2) Build a foundation for establishing exquisite incentive policy(calculate compensation amount and determine compensation recipients)


The details are provided below.


1. Register driver’s information and trip information with issued NFT on Permissioned Blockchain and Permissionless Blockchain


  • In Hybrid Blockchain, two types of information are registered and stored. 

        1) Information on TADA SG RH Driver 2) Completed trip information by TADA SG RH 

  • This information is stored in NFT format into Hyperledger Fabric, the Permissioned blockchain, and Tezos and IPFS, the Public blockchain.


         The detailed reasons for selecting NFT, Tezos, and IPFS are given below.

  • NFT
    • NFT stands for Non fungible Token, which means ‘the only token in the world’.
    • Since the information of each driver and each trip are unique, we have decided that it is most appropriate to store this information in NFT format.
    • Driver’s information will be stored as “Driver Passport*” and information on the trip will be stored as “Trip Certificate*” in NFT.
  • Tezos
    • Tezos is a project which provides DApp-developing platform and smart contract with On-chain governance technology.
    • Tezos had a partnership with MVL to implement an effective data business.
    • Transaction fee occurs much lower than Ethereum.
  • IPFS
    • IPFS is a distributed system for storing and accessing files, websites, applications, and data.
    • IPFS can be used to reduce the existing Tezos transaction Fee.
    • Rather than uploading all the data to the blockchain network, upload the actual data into IPFS and upload the Hash value of the data into the blockchain to maximize the efficiency of data management.


* The Update Policy on Driver Passport NFT and Trip Certificate NFT is written below.

* The whole implementation of the Update Policy will be completed in the near future.


[Driver Passport NFT]

  • Process and criteria of data registration
    • First, Driver Passport is generated in Hyperledger Fabric(HLF).
      • The Data Field of the Driver Passport can only be viewed by MVL and MVL Data Customer who have the authorization to view Hyperledger blockchain.
    • Generate Driver Passport NFT of the same Driver in IPFS based on the Driver Passport information registered in HLF.
      • The NFT generated in IPFS will only show Data Fields that are allowed to be seen by anyone.
    • Generate Driver Passport NFT of Driver on Tezos with Hash saved in IPFS.
  • HLF, IPFS, Tezos are all connected.
  • Data updates reflect the status of TADA, but also, effectively limit the cost of transactions on the Public blockchain.
    • HLF data updates occur every time events occur in TADA
    • Data update on IPFS and Tezos occur once a week


[Trip Certificate NFT]

  • Process and criteria of data registration
    • Trip Certificate NFT is generated on Hyperledger Fabric each time a trip is completed in TADA. Then, the Trip Certificate NFT is mapped with the Driver Passport of the Diver who completed the trip.
    • Hash is generated by collecting information on all trips occurred within a day, and Trip Certificate NFT of that Hash is generated in Tezos blockchain.
  • Due to the purpose of business, the real-time Trip data cannot be published, therefore, only register one in Tezos blockchain every day.
  • We do not open up the number of Trips to the public, but we publish the fact that all the Trip information is stored in the blockchain every day and ensure the reliability of the MVL project.


2. Establish exquisite incentive policy 


By utilizing NFT, we will reorganize previously operating MVL point and MVL incentive policy 

into a more exquisite structure.


  • Operate Reward Engine to calculate the amount of compensation and the recipients on Hyperledger Fabric.




Conclusion


1. In MVL 2.0, as mentioned above, we will increase the practical use and efficiency of blockchain-based data business by utilizing Permissioned blockchain, Public blockchain, and NFT.

2. We will change the policy as ‘partially’ open Github to the public, so the public can check the current development status of the MVL team, and further correspond to the overseas project evaluation logic.

3. MVL 2.0 update will be linked with Crypto Wallet and will become the foundation of various Crypto businesses.



We will come back with the next update.

Trust-driven,
MVL

40 Sin Ming Ln, Singapore 573958

ⓒ MVL Foundation Pte. Ltd. All rights reserved.

40 Sin Ming Ln, Singapore 573958

ⓒ MVL Foundation Pte. Ltd. All rights reserved.