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#MetaHash, a platform designed for speed and flexibility for DApp developers, has announced the successful results of its testnet which validated the network capacity of 3 second transaction times, over 60,000 transaction per second throughput capacity, and billions of transactions per day. The blockchain system is built with a new kind of consensus mechanism, MultiPOS, which utilizes forging instead of mining and allows for lower resource intensiveness and hardware requirements.
The #MetaHash team have designed the platform with the end user in mind, with a browser that links in to the rest of the functionality of the ecosystem enabling DApp developers to create blockchain-leveraged solutions that seamlessly fit into user workflow. In a wide-open race for scaling of DApps, standout solutions have a good chance of tapping into the $200 billion crypto market as it continues to expand.
Advances in consensus technology
The increased speeds of #MetaHash is made possible by the lightweight consensus mechanism that uses forging instead of the more resource intensive mining. There are also lower requirements for participation as a forger, which can even work on a smartphone. The team elaborated on the concept: “Unlike the PoW system, #MetaHashCoins forging servers don’t go out of date and don’t lose their effectiveness, as their number is limited and depends on #MHC stakes. The only thing that will need improvement is the system’s core, (if scaling becomes necessary), but transaction commissions at this stage will fully cover the upgrade.”
In addition, the #MetaHash suite of offerings includes a dedicated browser (for all technical platforms) as well as a soon-to-be-released app for iOS and Android. It is hoped that a complete ecosystem of functionality will make the platform a more promising development choice for the burgeoning DApp industry.
Early adopters prioritised
The start of forging will begin soon, so buyers in their coin sale (Round A of which has begun on 29th of June at 12.00 UTC) will avail of better forging rewards if they are earlier. This is in combination with the reduced coin cost during the Round A (#MetaHashCoins can be purchased for just $0.0391 in BTC or ETH at the exchange rate at the time of purchase instead of the later price which will likely be twice as much).
As outlined on their website: “30% of all #MetaHashCoins will be distributed among the participants of Founders’ round, Private Round, ICO Round A, ICO Round B and participants of Bitcoin and Ethereum fork. The remaining 70% will not exist at the time of the ICO and will be issued at planned times in accordance with #MetaHash code. 70% is made up of 50% for #MetaHash forging stimulation, 10% to support the Project Team, and 10% to support the project’s development.”