MetaHash: An Enhanced Blockchain Platform For Faster Transaction Confirmation
As cryptocurrency keep gaining increasing momentum by the year, several blockchain projects of diverse magnitude and emphasis kept springing up, but then majority of the cryptocurrency networks are limited by the challenges that the blockchain has inherent in it.
The reduced speed, inflexibility in blockchain platforms and the challenge of interoperability are great cogs in the wheel of blockchain’s progress. For instance, the number of transactions per day on current blockchain platform needs to be increased if cryptocurrency will be a product for the mass market. Besides, transactions can not be completed freely on blockchain platform as users gets exorbitant charges on transactions and this discourages its usage. Again, the manner in which transactions from Proof-of-Work to multiple Proof-of-Stake is done needs to be revamped as existing blockchain platforms relies on hardware that is way expensive, consumes electricity and gives too much to the miners. Furthermore, current blockchain platforms do not protect the ecosystem from external attacks that can affect the platform, and the development of cryptocurrency capitalization will invariably give rise to more hackers attempting to stop the platform’s operations. Moreover, the pace at which the transactions gets approved is quite low and this makes it quire difficult to use the blockchain technology for everyday transactions. The current blockchain platforms takes up to a minute for transaction confirmation.
MetaHash is built to design a sole independent answer where emerging blockchain platforms can be brought into one decentralized network that can document daily transactions. The self-adminstered MetaHash ecosystem offers a platform for the evolution of a completely-developed decentralized internet. This is independent of the developers immediately it comes up and it is administered by democratic administration by the users or the #MetaHashCoins holders. A completely decentralized internet of this nature will introduce more liberty by administering big corporations. How the project is managed is left in the hands of users instead of accumulating and confining it to some key stakeholders which is unhealthy for the cryptocurrency market and the participants.
MetaHash resolves these challenges by allowing the initialization of decentralized applications that runs in real time just like simple web services and applications that can react to events in all of the blockchain platform as well as on the general internet. MetaHash equally allows the creation of self -reliant sub-chains shielded by the major #MetaHash platform that equally run on the platform of the #TraceChain system. The sub-chains are designed such that several #MetaApps can run without chocking the main platform and reduce the speed of other applications and at an affordable cost. There are several applications awaiting innovative answers that develop independent, affordable and safe chains with which they can be able to send the needed data. Through the #MetaHash again, the cryptocurrencies as tokens in the #MetaHash platform for distributing in the platform and changing to tokens of other platforms is enabled. Other digital currencies on blockchain such has ETH, BTC ERC20 is interconvertible to #MetaHashCoins.
The MetaHash token is MHC is the local currency of the platform and it is an ERC20 standard type token which is Ethereum based. It is used for rewarding active contributions by nodes to the development of the MetaHash network. The total volume in circulation is 9,200,000,000 #MHC and will span some 10 years before it is finally released.
#MetaHash is a blockchain-based cryptocurrency platform that seeks to improve the blockchain network by increasing the speed of transactions, reducing the cost of doing transactions and shield blockchain platforms from external attacks. Participation on the platform is through the use of the native currency on the platform, the #MetaHashCoins.
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Official Website: https://metahash.org
Author ; sagacity30
Bitcointalk link; https://bitcointalk.org/index.php?action=profile;u=1256825
Eth wallet; 0x3daCc0DB082E264264114A5c13C9E995B903Ab59