When #MetaHash, a MultiPoS consensus blockchain and decentralized real-time application platform, opens its MainNet on June 29, 2018, be sure to be in queue on its coin sale prior to the upcoming start of forging. Owners of the acquired #MHC will be able to become the first nodes thus contributing into the network’s growth and enjoying the full advantages of the early forging which is scheduled for August this year.
When mining, the computer creates a block of data, which has a list of all of the transactions it knows about, includes a transaction that pays you the mining bonus, and then hashes that. If the hash happens to be a small enough number (as defined by the difficulty), the block is valid. Thus, you can imagine why mining involves enormous time and power by miners.
Take a load of one description: ”Mining is like having a lot of people throwing weighted coins (such that 1 millionth of the time it comes up heads) and telling you when they hit at heads. If one such “heads” is reported every 10 minutes (600 seconds), you can make a very accurate estimation of how many times per second the coins are being flipped.”
In comparison to mining, forging does not require specific hardware with lots of computational power like ASICs or video cards. The protection of the network consensus is based on the value of the network native coins. It is enough to rent any common web-server or use a home PC with good internet connection. Thus, you can see how the #MetaHash Network can function with much less consumption of power.
With the opening of MainNet and start of #MetaHashCoin (#MHC) distribution the first buyers would be able to benefit from starting forging early before the amount of forgers increases and forging rewards are split between more participants. #MHC can be now bought via ETH or BTC but at a price equal to $0.0391 converted at the exchange rate at the time of the purchase. Within the started coin offering, the amount of 920,000,000 coins will be distributed, the goal of the initial offering is set at $36 mln.
Attacks on the system are made more difficult by reputable nodes
50% of all rewards for forging are distributed among #MHC owners, while 40% are granted to nodes’ owners. The remaining 10% are used for rewarding the active users of the #MetaGate browser. Coin holders can also entrust their voting rights to their own nodes or may give their voting right to the operator of the node they trust and get a share of the commission. In this way, large numbers of votes are concentrated at nodes that the community trusts, making attacks on the system more difficult.
The opening has been preceded by months of load tests and public TestNet which showed results above initially declared capacity of more than 60,000 TPS with under 3 seconds validation through more than 500 billion transactions processed within the test phase. To get #MetaHashCoins all interested parties can join the queue and follow instructions at #MetaHash official web-site: metahash.org/#ico
To view the white paper and gather more information, please, visit metahash.org. You can also check the company’s Medium blog, Facebook page and Telegram chat.
About #MetaHash
#MetaHash is a blockchain-based digital asset exchange network and decentralized real-time application platform. The versatile network utilizes artificial intelligence (AI) to synchronize cross-continental nodes to create an optimal map of the network, based on latency rates. The technology then redistributes the data accordingly, harnessing the full power of the entire network, enabling unprecedented processing speeds capable of five billion transactions per day, at no more than three seconds for approval of each transaction.
The platform, based on its unique #TraceChain protocol, offers unparalleled speed, security and decentralization at the lowest price per transaction in the history of blockchain. Signaling the future of the distributed web, #MetaHash is among the pioneers of blockchain interoperability, allowing networks to interact and integrate with each other.
To learn more, please visit metahash.org or follow #MetaHash on Medium. You can also join the official chat on Telegram and subscribe to project’s Facebook page.
