#METAHASH REVIEW

karldark (40)in #cryptocurrency • 6 years ago (edited)

The Problem Statement

Several enterprises offering different services have come into existence since the cryptocurrency fame of 2017 which heralded a new method of doing things on the Internet which was based on the blockchain technology. These projects based on blockchain technology have experienced several challenges as a result of the technical incapability of the current blockchain networks. These problems have taken its toll on these projects due to the structure of the blockchain networks.

These major problems with existing blockchains are the low-speed of transactions, the lack of communication between blockchains, and the restricted nature of blockchain networks.

The number of transactions per day has witnessed a decline due to the lack of speed and excessive computational power required, unlike the numbers achieved using simple web transaction services. This has led to the minimal usage and adoption of cryptocurrencies in daily financial activities globally. Also, it since a known fact that mining (PoW) reduces the potential speed of a transaction on the network whilst depending on expensive hardware to mine cryptocurrencies. Therefore, there is a need to move from Proof of Work algorithm to utilizing a more efficient forging which employs multi Proof of Stake (multi-PoS) algorithm that can easily be done using home PCs and the simple Web server as long there is a stable internet connection.

The speed of transaction approval on the existing blockchain network can also be significantly improved to encourage integration and massive of cryptocurrency for payment for daily transactions. There is also an absence of a built-in mechanism that converts digital assets used by blockchain networks to tokens. More so with the huge acceptance of the cryptocurrency as assets, the tendency of hackers to try manipulating into the blockchain system is imminent and expected and there is no form of protection against such. From the foregoing, it is noteworthy to say that #MetaHash has got the way out of all these issues limiting the mass adoption of blockchain technology.

#MetaHash

#MetaHash is a unique and complete start to the way the blockchain operates, wherein it utilizes the basics of the decentralized technology but had been adapted process transactions faster and has been built to consume less power while forging instead of the reverse as is the case with mining. #MetaHash is a decentralized platform that is built to allow for the full decentralization of any project and handle the exchange of digital assets, allowing them to be tokenized without any foregoing in programming.

#MetaHash is a platform that allows any other asset in another blockchain network and any other cryptocurrency to be converted to tokens (MetaHash coins) for sharing within the #MetaHash network and could be converted back to the token of other blockchain networks. The #MetaHash network supports blockchain interoperability between independent networks which is future-oriented. This will definitely lead to the full adoption of the blockchain technology as it creates a standard for the exchanging of digital assets, which in turn will lead to a full integration of cryptocurrency in daily transactions.

The #MetaHash platform supports the creation of decentralized applications(dApps) which work with ultra speed like those services on the websites. The network allows for decentralized applications to work with real-time speed while executing functions which could be web-based or on any of the blockchain networks. Also, independent subchains can be created on the #MetaHash network which is protected by the main network. The sub chain is operated based on a protocol utilizing the TraceChain protocol so that the MetaApps can economically function properly without overloading the #MetaHash network.

The #MetaHash Network Architecture

The #MetaHash network consists of four different parts, with each part performing a vital function within the network. Each part of the #MetaHash network solves a challenge of existing blockchain networks and provides a superior advantage over existing systems. They include:

#TraceChain

The #TraceChain is the solution to the speed, high transaction fees and complexity issues experienced in other blockchain networks. Utilizing a self-learning algorithm for the routing of signals over the network, #TraceChain has the capability of processing 100 000 transactions per second(TPS). As the #MetaHash network continues to grow with the addition of new nodes with higher bandwidths, the reliability and transaction processing speed is expected to increase.

#MetaApps

The decentralized applications make use of nodes that are attached to the MetaHash networks. The #MetaApps is an evolution of smart contracts, hence, it boasts of having the features of smart contracts with several other advantages. Third-party developers are allowed to create applications and #MetaApps supports the development of applications using numerous programming languages like C++, PHP, Solidity, and others. MetaApps is compatible with any operating system and will include numerous decentralized modules for the acceleration of the development of new projects.

#MetaGate

The #Metagate interfaces from #MetaHash is an open source interface that implies the use of the #TraceChain protocol making it a framework of #MetaApps and other networks to operate. #MetaGate code can be applied by third-party developers to embed #TraceChain and blockchain features on any application or browsers it deems fit.

#MetaHashCoin

#MHC is the native currency used on the MetaHash network and it is used for numerous functions which are shown below:

A total of 9 200 000 000 #MHC will be issued within a period of 10 years and details on tokenmetrics and the token sale exercise can be found below:

The #MetaToken allows for the automatic tokenization of the native cryptocurrency of the #Metahash ecosystem #MetaHashCoin with the ticker #MHC into ERC20 tokens (which is the most common standard for tokens on Ethereum) and digital assets issued on other blockchains. It is also used in the conversion of digital assets into #MHC.

Conclusion
#MetaHash is a revolutionary solution to the challenges bedeviling the widespread adoption of blockchain technology by business establishments globally, thereby, pioneering a new era in the global implementation of blockchain technology. Developed by a team of experts with a wealth of experience in their various areas of expertise, and advised by top blockchain analysts with a track record of success, #MetaHash is bound to be a phenomenal success.