Metabase is a Scalable Blockchain Protocol with its Cryptocurrency in Use

bonanza-kreep (66)in #metabase • 6 years ago (edited)

Growing demand for reliable transaction speed in large networks has focused attention on efficiency and scalability of protocols. This is particularly true for public blockchains, the performance and scalability of which need improvement. These two properties are considered to be essential to solving distributed tasks. In this light, Metabase protocol will offer support for better reliability and transaction speed. The solution provided will be particularly interesting for businesses ranging from small to large corporations, as well as for addressing the government-related issues.

https://metabase.network

The importance of data and storage

The scalability performance of the protocol is essential to maintain data consistency. Generally, protocols define the approaches to establish the dependence among all records on chains and define the way in which data will be represented. While linear forms of blocks are considered as well-established ones, in order to improve the processing efficiency, nonlinear structures are implemented for high scalability and security.

Protocol descriptions

Metabase Blockchain Protocol is constructed in such a way, that it will meet the needs for the ever-increasing transactional load. For that, Metabase will adjust to new conditions with its Binary Tree Structure. This approach pertains to the next problem: Given the high transactional load, a chain splitting technology will allow for better scalability and higher speed. Thereby, each node on the blockchain contains data elements and pointers to subsegments on either sides. Each block comprises three quantities, that are chain, epoch and block numbers. At the same time, the algorithms being implemented allow for timely distribution of transactions across newly generated chains.

In contrast to other protocols, Metabase will both utilize on-chain and off-chain scaling mechanisms. Off-chain channels are known to be involved in processing of transactions between users, so that blockchain transactions are kept instantaneous.

In championing for adaptable ecosystem, which implies that the system promptly responds to the environment, Metabase will implement the upgraded Ethereum Virtual Machine. With the introduction of the Metabase Virtual Machine the system will be able to process variable length instructions, that is, each OpCode contains a determined length and can vary in size. Two types of OpCodes will be available. By allotting a Public OpCode Space, Metabase will allow businesses to customize OpCodes, which are available in the Metabase Marketplace. Similarly, Private OpCodes can be purchased and used for any business functionality.

Special cases 1: Consensus mechanism and mining

From the perspective of the protocol design, mining capability can be abstracted into two parallel structures, thereby mining nodes will be distributed on the different chains as proposed by the protocol's nature itself. In this approach mining task will be carried out in parallel, which, in turn, should result in a higher transaction speed. At the initial stage, miners will be working with the Proof-of-Work algorithm, however, the system will further be shifted to delegated PoS.

Special cases 2: Governance of Metabase

A number of voting types will be involved in the system as belonging to different areas of governance. Metabase Governance Protocol will serve four such areas, including the one for improvement proposals.

https://metabase.network

ICO Details

Public ICO will start on September 4 and end on November 2, 2018.

While the developer's interest in the project is well matched by the OpCode Marketplace, businesses will be lured by the opportunity to utilize a complete tool set issued by Metabase. By implementing its own SDK, Metabase will in particular eliminate the need for a proxy service.

The extensive development stage is set for the second quarter of 2019. Respectively, the system will be launched by the end of 2019.