Frequently asked questions
Magi Network, formerly known as VSC (Virtual Smart Chain), is a cross-chain interoperability protocol built on the Hive blockchain. It lets users hold, swap and use assets from Bitcoin, Hive, DASH and EVM chains from the wallet they already have, and lets developers deploy WebAssembly smart contracts that users from all of those chains can call, without wrapped tokens or centralized bridges.
Altera is the wallet and exchange app for Magi Network. You log in with a wallet you already use and swap native assets such as BTC, DASH and HIVE directly, non-custodially, without wrapping or bridging them.
No, Magi uses the native Hive tokens for all transactions on the network. We plan to launch a token once the project is self sustainable via a fair launch.
Magi does not charge end users a fee per transaction. Instead it uses a resource credit (RC) model: holding a small amount of HBD, Hive's stablecoin, generates the resource credits that pay for transactions, and a dApp can also cover them on behalf of its users.
Magi uses WebAssembly (WASM) to power its smart contracts, so they can be written in any WASM-compatible language and build on the thousands of existing libraries and tools for those languages. The official guide uses Go, compiled to WASM with TinyGo. Because Magi accounts can be Bitcoin, Hive, DASH or EVM addresses, a single contract can serve users from all of those chains.
Deploy the Magi Token Standard, an open-source ERC-20 compliant token contract, and initialize it with your token's name, symbol, decimals and maximum supply. It also supports pausing, ownership management and safe allowance operations. The documentation walks through the whole process. Please reach out to us if you plan on integrating your token with Magi.
Use the Magi NFT Standard, an open-source ERC-1155 compliant multi-token contract. One contract can hold both fungible and non-fungible tokens, with batch operations, enforced supply limits and per-collection metadata. Like every Magi contract it can be used from Bitcoin, Hive, DASH and EVM wallets.
Magi nodes run the open-source Magi node software, written in Go, and are deployed with Docker Compose. The setup repository contains everything needed to start a node; operators who stake HIVE can become witnesses and help secure the network.
Yes. The node software, the token and NFT standards, the deployment tooling and the documentation are all open source on GitHub. Web3 should never be a black box.
Mainnet launched in Q1 2025.
