Greetings,
Through this article I would like to introduce you to the Metahash project
MetaHash is a blockchain project that has already realized some significant achievements and is working to accomplish more. It offers the possibility for big improvements in both blockchain scalability and functionality.
While many emerging projects are working to make a better infrastructure for the future of decentralized applications and the decentralized internet, few are putting enough emphasis on solutions that can foster greater accessibility for all users. The #MetaHash team is focused on making this a core mission of its project
In this article, we examine the key points you need to know about this project and its ICO.
- Faster Transaction Speeds
As many people in the blockchain community know, there are major limitations on the number of possible transactions per second (tps) offered by the world’s top blockchains (i.e. Bitcoin and Ethereum). Currently, there are a few different solutions being discussed and implemented to make these blockchains more scalable. Still, emerging blockchains have mostly had to sacrifice security or functionality to reacher higher tps. This is not the case with #MetaHash.
To solve scalability issues, #MetaHash utilizes #TraceChain, an automatic self-learning algorithm for routing signals over the network. According to a July 2018 Medium post, the project testnet has already achieved 60,000 to 80,000 tps. The whitepaper also mentions the possibility of 100,000 tps in an ideal scenario. Ultimately, the project aims to reach the capacity for 5 billion transactions per day while also reaching a high level of decentralization.
- Solving Security Issues
For any blockchain project, there are various security issues to consider. For example, the “money attack” or “51% attack” can be conducted by miners with bad intentions on Proof-of-Work cryptocurrencies.
To solve security issues, #MetaHash uses a multi proof-of-stake consensus algorithm (MultiPoS). According to the project whitepaper, hackers will not be able to affect the network in any way even if they control 67% of the network nodes or #MetaHashCoins (MHC), the project’s native token. To further prevent an attack, #MetaHash will also require an additional verification step in its wallets.
An orchestrated hack is also difficult to execute because the process of changing data stored within the network would require hackers to not only attack the #MetaHash network but also a number of other blockchain networks. This security relies upon the fact that new #Metahash nodes establish anchors of other blockchain networks (i.e. Bitcoin, Ethereum, and other popular options). In the early years of the project, general voting will be used to restore the network in the event of an attack. This adds an additional fail-safe that will be phased out in the coming years as blockchain security technologies improve.
- Greater Accessibility for All Users
The programming of smart contracts has been difficult for those who don’t have top-level development skills. Additionally, the creation of new tokens has been a costly process for new projects. In turn, this has slowed down the potential for the real-world adoption of blockchain technology and cryptocurrencies.
MetaHash simplifies the process of asset tokenization, even for tokens of other networks. MetaHash token information promises to be easy for programmers and non-programmers alike to understand. This is because no in-depth knowledge of cryptocurrencies and blockchain technology is required.
Instead of having to rely upon a single programming language (i.e. Solidity for Ethereum) to code a dapp, #MetaHash enables users to create a #MetaApp from a variety of programming languages (C++, PHP, Solidity and more). The purpose of these applications is to empower the evolution of smart contracts. According to the project whitepaper, #MetaApps run in real-time as decentralized websites and services.
- MetaGate: Not Your Typical Cryptocurrency Wallet or Dapp Browser
MetaGate includes two main features. First, there is a multi-asset, light node wallet. This makes it possible to use applications without having to download the entire blockchain. It also supports options to use full nodes and trusted nodes.
The second main feature is a catalogue of dapps. What makes #MetaGate unique is the fact that it enables users to access applications through standard internet domains as well as through #MetaGate. This could play another crucial factor in user adoption. Instead of relying upon one native platform that would probably only be popular amongst people already in the crypto community, #MetaHash can also make it easier to potentially attract new users who would otherwise not have previously used decentralized applications on a newer dapp platform.
- Top 3 Things You Should Know About This Project
Many more transactions per second than existing blockchains. #TraceChain is providing real technical innovation. This isn’t just another ERC20 token that is waiting on Ethereum’s blockchain to provide greater scalability.
According to ICObench, there are no geographic restrictions on KYC. One of the biggest issues seen in ICOs is that many investors aren’t allowed to participate or the project doesn’t focus enough on regulations. This is not the case with MetaHash. It has already gained FINMA recognition, an organization that regulates and licenses participation in the Swiss financial market. Additionally, the project already has at least 5 people working in its legal department.
Blockchain Interoperability: Any asset can be converted into MHC. #MetaHash allows for easy transfers from MHC to other blockchain networks. It is also possible to send funds to #MetaHash via Ethereum or Waves network mirrored smart contracts.
- Use of Funds
- Public Opinion/Comments
Overall, most reviews are very positive. The biggest question mark written by ICO advisor reviewers on ICObench, for example, is that the soft cap and hard cap are the same at $36 million. Also, some are saying that the fundraising goal is a bit high. However, considering the current potential to deliver 60–80,000 tps, this amount could very well be reached. Unlike most ICOs, the project doesn’t list an exact end date. This means that the ICO could last until all funding is secured. As of August 1, 2018, the project is still in ICO Round A.
Many reviewers seem to like the fact that the project already has an MVP and a large team (150 people total staff).
** FOR INFORMATION :
Project Website: https://metahash.org/
Project Whitepaper: https://metahash.org/docs/MetaHash_WhitePaper_EN.pdf
Author : kumaha
Bitcoin : https://bitcointalk.org/index.php?action=profile;u=1917379
Eth : 0x547B13b2692a874A4D3De9FD1917278672850839
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