Bitcoin Origin: Understanding the Basics of a Multi-State Engine (MSE)

Bitcoin Origin: World’s First Penta-Blockchain Fork

To understand what a multi-state engine is, you must first understand what states, virtual machines and namespaces are.

States

A state on a blockchain refers to the current information of all applications and smart contracts stored within each block on the blockchain. This may include

• each user’s current balance
• code of the smart contracts
• information regarding where it is stored.

Ethereum is the most popular ‘stateful’ blockchain. While Ethereum borrows much of its design from Bitcoin, it expands the framework to enable deployment of decentralized applications or dApps.

A dApp using Ethereum does not require a single entity to control and store its data. Ethereum abstracts away Bitcoin’s model to let developers create applications and smart contracts that support additional steps, new rules of ownership, multiple transaction formats and alternative ways to transfer state.

The primary innovation with Ethereum is that, in addition to all ETH transactions, its nodes store the most recent state of each smart contract.
The network, therefore, needs to keep track of the state (or current information including user’s balance, smart contract code and storage) of each Ethereum application.

Virtual Machines

Whenever a program or smart contract is used with smart contracts-enabled blockchains like Ethereum, a network of thousands of nodes processes it.

Smart contracts written in a contract-specific language like Solidity and Serpent are compiled into ‘bytecode’ to allow for processing on a distributed network.

Ethereum uses a feature called the Ethereum Virtual Machine (EVM) to read and execute this bytecode, and all nodes execute the contracts using their Ethereum Virtual Machines (VMs)

Even though smart contracts can be written in high-level languages (Solidity, Serpent, etc), actual computation on the blockchain is achieved through the EVM reading and executing the stack-based bytecode.

The main objective of the VM computation is to transfer the shift from state to state via the distributed network of miners and nodes.

Namespaces

To understand Namespaces into deep and quick, here is how it works. Now, consider an Ethereum Address:

0x123f681646d4a755815f9cb19e1acc8565a0c2ac

As your own address, you will know exactly what this is and how it works. But for the general public, and let’s take an example of your parents, this is just a very complicated looking string of numbers and letters.

Your mom doesn’t want to use this hexadecimal string every time she wants to send you money. This is simply difficult for her to fill in.

Here the main obstacle that comes in the way is a typical cryptocurrency address for mainstream blockchain adoption. To catalyze mainstream adoption of cryptocurrencies, some blockchains have brought human- readable names for addresses.

For example, the Ethereum Name Service (ENS) lets users address resources both on and off the blockchain using simple, human-readable names.

Instead of sending money to 0x123f681646d4a755815f9cb19e1acc8565a0c2ac, you will be able to send it to something like ‘example.eth‘

Think of it as website domain names. For example, when you’re visiting google.com, you’re actually visiting an IP address of something like 74.125.236.195. In the same way, the ENS lets you assign a .eth name to your Ethereum address.

Anyone can register a .eth domain name for themselves by participating in a namespace auction on the blockchain.

Bitcoin Origin is the world’s first penta-blockchain fork, merging five major blockchains into a single multi chain blockchain via simultaneous contentious hard forks.

The new multichain blockchain (known as Bitcoin Origin) will be an advancement in technologies of the five biggest Proof of Work cryptocurrencies, namely Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash. It will, however, feature a variant of the Proof of Authority consensus protocol called Proof of Ambassador instead.

Multi-state Engine

Bitcoin Origin is a multi-fork for five of the biggest PoW digital currencies: Ethereum, Dash, Litecoin, Bitcoin, and Bitcoin Cash. It has developed a number of innovative features to reward investors while lowering environmental and other negative impacts, including:

• Proof-of-Ambassadorship– This system involves designating Ambassadors, or individuals who achieve a good reputation among Bitcoin Origin’s stakeholders based on their performance on a number of key variables. They must promote Bitcoin Origin continuously to maintain this position. If they can do this effectively while undergoing an extensive vetting process, they receive 25 percent of block fees as a reward.
• A Multi-State Engine– By creating multiple blockchain/state pairings, this engine makes economic abstraction possible, and it lets participants use each forked token for contracts, transactions, and fees.
• Multichain– A serverless blockchain, Multichain gives users the infrastructure to develop their own blockchain applications, regardless of their resources or technical skills.
• Blockchain-as-a-Service- By selling blockchain as a service, Bitcoin Origin allows people to take advantage of this revolutionary new technology at a fixed price.

A multi-state Engine in particular might sound like a new term on the market. So here is a brief on what multi-state engine is, and some good understanding into what states, virtual machines and namespaces are all about.

To learn more about the project, visit https://www.bitcoinorigin.io/

To read the Bitcoin Origin Position Paper, visit https://www.bitcoinorigin.io/pdf/BitcoinOrigin-PositionPaper.pdf

Join the Bitcoin Origin Telegram group here: https://t.me/BitcoinOriginHQ

Media Contact

Name: Magdél Steyn

Email: [email protected]

Website: www.bitcoinorigin.io

Cell no.:  +27 74 102 4851

Telegram group link: https://t.me/BitcoinOriginHQ

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Technical Enthusiastic and Business Developer on Strategy, Marketing, and Growth. I invest my tech knowledge in Blockchain or ICO startups. Looks at the future with an eye on understanding the global impact of technology on society, business and government.