MAP
MAP Protocol
$0.0₄6602
0.00%
MAP Protocol
MAP
$0.0₄6602
0.00%
MAP Protocol Price Converter
MAP Protocol Information
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About MAP Protocol
MAP Protocol, a Bitcoin layer-2 and peer-to-peer omnichain network, specializes in cross-chain interoperability. It enables interoperability of blockchain assets, storage, and computing, spanning both EVM and non-EVM chains. Utilizing a decentralized approach, it relies on code and light clients for cross-chain communication, not single entities. MAP, the native cryptocurrency, is used for network fees and incentivizing block producers. The protocol aims to ensure secure, decentralized blockchain communication and transactions. Cross-chain requests are managed by off-chain roles and verified by light clients. Its integration with the Bitcoin network enhances security, recording data and the Proof of Stake consensus of the MAP Relay Chain in Bitcoin blocks. Co-founded by James Cheng, the team includes experts in blockchain research, smart contract development, and foundational blockchain engineering.
MAP Protocol is a Bitcoin layer-2 solution and a peer-to-peer omnichain network centred on cross-chain interoperability. It provides essential omnichain infrastructure for enabling interoperability among blockchain-based assets, storage, and computing across both EVM and non-EVM chains. Utilising a decentralised approach, MAP Protocol doesn't rely on single entities for cross-chain communication but instead places trust in code that leverages the self-verifying nature of light clients.
MAP, the native cryptocurrency of MAP Protocol, is employed for paying network fees and serves as an incentive for block producers to facilitate and validate network activities. MAP Protocol's main objective is to enable secure and decentralised communication and transactions between different blockchains. When an inter-chain request is initiated on the originating chain, it is transferred by off-chain roles to the destination chain. Light clients on the source chain verify these requests in a peer-to-peer manner. Additionally, the robustness of MAP Protocol is reinforced through its integration with the Bitcoin network, whereby essential information and the Proof of Stake consensus of the MAP Relay Chain are documented as transactions in Bitcoin blocks.
The protocol is structured into three layers:
- Protocol Layer: The technical foundation for cross-chain interoperability.
- MAP Omnichain Service Layer (MOS): Facilitates specific omnichain services.
- Application Layer: Where applications are developed and used.
Validators play a crucial role in the protocol, acting as gatekeepers who check and ensure the accuracy and validity of transactions. They are randomly selected to verify new transactions and add them to the blockchain, receiving MAPO as a reward.
Specific hardware and software requirements must be met to become a validator, along with the need to stake a certain amount of MAPO to secure the network. Those who prefer not to build a node can still participate in staking by delegating their MAPO.
MAP Protocol, co-founded by James Cheng, boasts a team comprising senior experts in blockchain research, adept smart contract developers, and specialists in foundational blockchain engineering.
