Near-Instantaneous Cryptocurrency #MetaHash Launches ICO, Can Process Over 60,000 Transactions per Second
Switzerland-based #MetaHash, a decentralized real-time application that utilizes a MultiPOS consensus algorithm to process near-instantaneous payments, has launched its ICO on June 29, 2018.
Touted as a “lighting-fast” protocol, #MetaHash can process over 60,000 transactions per second – a statistic unrivalled by many of the currently-available cryptocurrencies.
The company has developed its native blockchain protocol, called #TraceChain, which makes up one quarter of the components that ultimately build a “simple, synergistic entity.”
#MetaHash tested its protocol for over three months in 2018, with conclusions explicitly confirming a confirmation time of three seconds per transaction. More than 500 billion transactional results were analyzed.
For transactions, the company uses a previously unheard “forging” process instead of “mining,” which has in recent times been criticized for its high-energy usage and slow, expensive confirmation process.
Forging does not require expensive computing hardware to maintain the #TraceChain, instead generating consensus by deriving value from #MetaHash’s native cryptocurrency (#MHC), that can be used for renting a cloud-based web service or any other physical server that contributes the required computing power.
As the company migrates to a MainNet in August 2018, early node adopters will be handsomely rewarded for contributing to the network. Additionally, as the amount of forgers increases, the forging rewards will proportionally increase.
In terms of staking rewards, the company stated:
“50 percent of all rewards of forging are distributed among #MHC owners, 40 percent are granted to nodes’ owners and the remaining 10 percent are used to reward #MetaGate browser’s active users.”
The #MHC token is currently available for $0.0391, and can be purchased with both Bitcoin and Ether. A total of 920 million coins will be distributed during the coin offering, and the hard cap is set at $36 million.
Coin holders can also entrust their voting rights to their own nodes, or may give their voting right to a trusted node operator and get a share of the commission. This way, large numbers of votes are concentrated at nodes that the community trusts, making attacks on the system more difficult.
To get #MetaHashCoins, all interested parties can visit the #MetaHash official web-site: metahash.org/#ico
#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.