MFEV Network is the decentralized EVM-compatible public blockchain that powers the MFEV Network platform and ecosystem. It is fully compatible with Ethereum meaning that any smart contract that can be deployed on the latter can also run on top of MFEV Network .
The MFEV Blockchain uses a variant of Proof of Distribution (POD) to achieve consensus and is secured by a significant number of independent validators, only one of which is run by the MFEV Network core team.
Validators are also responsible for the most important type of governance on MFEV Network , namely, adopting the network protocol changes.
The native coin of the network is called MFEV. New MFEV Coin are issued with every added block and are also used to pay for gas, just like ETH on Ethereum.
The MFEV Network is designed to ensure fast block confirmation times and a low cost of transactions. The average block interval on MFEV Network is around 5 seconds, and it currently costs much less than $0.01 to get a transaction confirmed.
In its present capacity, the MFEV Network is capable of processing around 120 MFEV Coin transfers and 60 token transfers per second. The faster processing of native coin transfers is due to the fact that they do not involve computations run on the network's virtual machine.