Sovereign Wallet is pleased to announce the launch of its much anticipated, first-ever identity-based blockchain mainnet. The MUI MetaBlockchain mainnet is the fruit of years of research, collaboration with world’s top universities, exhaustive development, and multiple rounds of iterations on the testnet.
Sovereign Wallet seeks to address the un-federated nature of digital currencies while also solving the scalability trilemma of the blockchain industry. The goal was to create a platform which not only enables regulated, identity-based P2P transactions but also extends to complex use cases like financial markets and currency issuance (CBDC). MUI MetaBlockchain is all that and more.
The MUI MetaBlockchain is a recursive platform where a blockchain can create another blockchain separate and yet interoperable within themselves. It is specifically built to be secure, scalable while being customizable for any specific use cases of its customers. All countries have different requirements in terms of regulations, number of transactions, limit of transactions and so on. If Central Banks from different countries are operating on the MUI MetaBlockchain, all the data won’t be dumped on the same platform. It will instead work on separate blockchains with smart contracts of their own. MUI MetaBlockchain currently operates on, multi-ledger architecture. This means that each digital currency generated on MUI MetaBlockchain has its own blockchain ledger.
MUI MetaBlockchain empowers its users to create their decentralized identities (DIDs) based on verifiable KYC credentials. It is a first-ever truly identity-based blockchain platform and hence, ideal for CBDCs and stock exchanges. MUI MetaBlockchain is a hybrid blockchain that combines both decentralized consensus protocol and centralized cryptographic cash protocol. It incorporates a node system which consists of Bank nodes and Mobile nodes. Bank nodes act as clearinghouses for micropayments and consensus nodes for high-value transactions. Mobile users can operate the mobile node to participate in the consensus protocol of specific digital currencies and receive incentives based on their contributions.
We like to call our endeavor “Rewriting Satoshi’s Vision” as we carry his vision of a stable financial system and our mainnet launch on 12th anniversary of Bitcoin’s creation by Satoshi Nakamoto is a homage to his vision of a future financial platform. Our goal is to create an Internet for digital currencies. The mainnet launch is a significant milestone in our company’s roadmap however, we will not rest here. We have already begun to transfer tokens from the ERC20 mainnet to MUI Meta Mainnet and will soon be able to help governments in revolutionizing the financial spaces.
About Sovereign Wallet
Founded in 2017, Sovereign Wallet is a remote company with a globally spread, multicultural team that is committed to revolutionizing the financial space by providing a highly secure, highly efficient 4th gen blockchain platform to the global citizens. We empower self-sovereign finance.
Our Products: Digital Asset Wallet, Metablock Exchange, and Identity-Based next-gen blockchain: MUI MetaBlockchain.
For more information, head to — https://sovereignwallet.network/