MetaMUIMetaMUI price 


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484,596,928 MMUI
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Sep 20, 2021 (2 years ago)
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Dec 23, 2022 (a year ago)
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About MetaMUI

What is MetaMUI?

MetaMUI is a permissioned public blockchain network that many central banks, commercial banks, and other financial institutions can publish their CBDC(central bank digital currency)s. MetaMUI is also an identity-based meta-blockchain that uniquely solves the CBDC design trilemma of privacy, identity, and programmability. By decentralizing identity and multi-ledger mechanisms, MetaMUI uniquely positions itself as an enabler of privacy-preserving CBDC that is fully compliant with financial regulations. MetaMUI is the first peer-to-peer digital cash that can confirm the transaction without requiring either blockchain consensus or the mediation of a central server. With its true peer-to-peer nature of digital cash, MetaMUI can outperform centralized account-based and blockchain token-based digital payment. It can achieve more than 1 million transactions per second. MetaMUI is the first blockchain that solves the serialized operational structure of the blockchain consensus process. MetaMUI can process transactions in parallel and independently. With this decentralized operation capability, MetaMUI can achieve virtually unlimited scalability simply by adding more and more nodes to the network. It is one of the technological candidates to implement the World Reserve Currency that can serve the entire humanity. In short, MetaMUI is a mainnet coin that fuels the MetaMUI network and supports the MetaMUI blockchain development. It is a future value-backed coin. It is designed as a deflationary coin that accumulates and continuously increases the backup assets of MetaMUI from the project incomes of MetaMUI Network. Project income sources of MetaMUI Network are CBDC publication license and usages fees, NFT(Non-Fungible Token) and NFT contents publication fees, Tokenized Asset publication and trading fees, SSID(Self Sovereign Identity) related Verifiable Credential publication and verification fees, and more.

Who are the Founders of MetaMUI?

MetaMUI Blockchain was jointly developed by SovereignWallet Network and the University of Southern California Viterbi School of Engineering. The founders of the MetaMUI project are Phantom Seokgu Yun and Frances Kim, PhD. both are from USC. From the USC, Prof. Bhaskar Krishnamachari and Prof. B. Clifford Neuman joined as research advisors.

Phantom Seokgu Yun studied computer science under the supervision of Prof. Neuman, the inventor of NetCheque and NetCash protocol, a pioneering digital cash research project. NetCash project had received DARPA (Defense Advanced Research Promotion Agency) fund from the Department of Defense of USA.

As a top security expert in Korea, Phantom architected a key security software during the G20 Summit in Korea in 2010. The previous company he founded provided security software to eBay Korea, KaKao, Samsung Electronics, Samsung Life Insurances, SK Telecom, LG Telecom, KOSCOM, Yahoo Japan, Rakuten, and other government, intelligence, and military organizations. Phantom is an expert in Distributed Operating systems, Digital Money, Machine Learning, and Computer Architecture.

Phantom is a digital currency expert in Digital Euro Association. He has written various articles in Cointelegraph and appeared in many media outlets and crypto conferences as the main speaker. He also published numerous research papers on leading crypto conferences. He holds dozens of patents related to identity-based blockchain, meta-blockchain, inter-blockchain atomic swap, etc.

Dr. Frances Kim is a leading behavioral economist. Her research interests include tokenized security, digital economy, asset tokenization, and NFTs (Non-Fungible Tokens). She has worked as a consultant with various corporations in Korea and the US.

What makes MetaMUI unique?

MetaMUI is the 4th generation blockchain and hybrid blockchain that solves the design trilemma of CBDC and the blockchain itself. MetaMUI completely redesigned the blockchain from the concept of identity. By adopting decentralized identity technology called self-sovereign identity and marrying it with blockchain token technology, MetaMUI uniquely positioned itself as a fusion technology that can serve both the crypto and traditional financial communities. The followings are MetaMUI’s unique value propositions.

  1. Identity-based ownership – To achieve anonymity, the current cryptocurrency binds the ownership of the asset to the private key generated and managed by the user. For this reason, cryptocurrency becomes easily hackable; even with a simple mistake from the user, such as forgetting the corresponding mnemonic words or the backup copy of the private key, entire crypto assets such as Bitcoin or Ethereum can be completely lost or stolen. MetaMUI solved this critical problem. MetaMUI binds the ownership of the asset to the identity of the user, not to the private key. Therefore, in case of a lost or stolen private key, MetaMUI can reset the private key with a new key after the proper identity verification. Since SSID (Self-Sovereign Identity) is a decentralized identity system and the user’s private information is never stored on the blockchain, it is much more secure in terms of both privacy protection and identity verification.

  2. True Peer to Peer Digital Cash with more than 1 million transactions per second performance - Even though Satoshi Nakamoto claimed that he invented peer-to-peer electronic cash, Bitcoin and other cryptocurrencies are not peer-to-peer cash. Cryptocurrency requires a consensus protocol. This means a kind of agreement from the nodes in the network is required to complete the transaction. Bitcoin didn’t eliminate the middle man. Instead, it created numerous mediators between the two transacting peers. Bitcoin is not peer-to-peer since two peers cannot complete the transaction with the agreement from the nodes in the Bitcoin network. MetaMUI is the inventor of True Peer-to-Peer Digital Cash. MetaMUI’s digital cash can transfer the value between peers without requiring consensus or mediation of a centralized system. Since transactions can be confirmed between peers, MetaMUI is the fastest payment system, with more than 1 million transactions per second.

  3. Offline Payment – Because of consensus protocol, cryptocurrency and other blockchain-based digital currency assume the Internet connection is available to process the payment. Therefore, it was not possible to implement offline payment with blockchain technology. MetaMUI is a revolutionary blockchain technology that has achieved offline payment. With the true peer-to-peer payment structure of MetaMUI, two transacting peers can process payment through the near-field communication capability of smartphones without requiring an Internet connection.

  4. Unlimited Scalability - Blockchain is structurally decentralized but has serialized and centralized operations. Entire nodes of the blockchain form a single virtual computer and process the transaction one by one. Because of this, it isn’t easy to design a high-performance payment system with blockchain technology. MetaMUI breaks this limitation by implementing a parallel and independent transaction processing structure. Since each Bank Node (MetaMUI’s blockchain node) can process the transaction in parallel and independently, by simply adding more and more nodes, MetaMUI can process an unlimited number of transactions per second. With MetaMUI, you can devise a digital cash system that can be used by millions of IoT(Internet of Things) devices in the future.

  5. Meta-Blockchain with multi-ledger structure – Many early generation blockchain, such as Ethereum, uses a single ledger to hold all tokens generated on the blockchain. MetaMUI comes with multi-ledger architecture. Each token generated by the Central Bank Node of MetaMUI will only have a dedicated separate ledger to record that specific token-related transaction. Also, on MetaMUI, you can create tokens and digital currencies without requiring any kind of smart contract programming. You can just use the proven built-in libraries to generate new digital currencies and tokenized securities by simply setting the parameter. Also, the Central Bank Node that generated specific digital currency has full control over that digital currency.

  6. Verifiable Credentials – On MetaMUI Network, central banks, commercial banks, and other financial institutes can create public DID (Digital Identity) and issue VCs (Verifiable Credentials). VCs are digital certificates signed by the central bank or other financial institutes. VC’s digital signature can be verified by the decentralized public key infrastructure (Blockchain PKI) inside the Identity Blockchain of MetaMUI. This VC structure uniquely solved the so-called Oracle Problem, providing cryptographically provable real-world data to MetaMUI Network.

  7. Pairwise Trust - MetaMUI is a pioneering implementor of Pairwise Trust of the Self-Sovereign Identity. As a working permissioned public SSID Network, MetaMUI has uniquely positioned itself as a reliable single-sign-on system for the entire digital world. Unlike federated authentication systems such as Facebook login or Google login, MetaMUI’s pairwise trust lets the user manage their private information by themselves; therefore, there’s an extremely low possibility of massive private information leakage or abuse. Also, in the current authentication system, only the user verifies themself to the system. However, in pairwise trust, both user and the system cryptographically verify identity to each other. This eliminates the need for users to remember the complex user IDs and password combinations for multiple sites. With a single SSID of MetaMUI, you can securely and conveniently log in to multiple systems without requiring a password.

  8. Full Mobile Node - MetaMUI is one of the first blockchain projects to implement a full blockchain node on a mobile device. This creates the possibility of turning every user into a blockchain node operator. This is a true decentralization of the blockchain in terms of token economics. Users can earn by running the MetaMUI node on their smartphones and receiving token incentives.

  9. Future value-backed coin – MetaMUI is one of the first implementations of the concept of the future value-backed coin. From the startup, MetaMUI designed various profit structures for MetaMUI Network. Many real-world financial institutes will publish CBDC, hybrid CBDC, synthetic CBDC, stablecoin, tokenized securities, NFTs, etc., and they will pay the license fees and operation fees to MetaMUI Network. This will become the backup asset to sustain the value of MetaMUI for years to come.