METABASE — Revolutionizing The Next Generation of Businesses

davidtosin (8)in #world • 6 years ago (edited)

Metabase is a high-performance blockchain and smart opcodes platform for building decentralized applications and next-generation businesses. It features an advanced virtual machine at its core, expanded blockchain programming capabilities and it is designed with security and usability. Metabase aims to provide light client implementations both on mobile and browser platforms to create seamless integration for blockchain-based applications. With the use of blockchain technology, Metabase will be run and maintained by nodes. Each node within the network will have a Node ID. With a Node ID, a Metabase node identifies itself to the network and signs messages to the network. The Node ID is also used to determine which chain on the multi-chain Metabase blockchain the node can mine on. Metabase blockchain will split itself automatically if transaction capacity is heavily used. The blockchain would follow a PoW based consensus mechanism — similar to Bitcoin — where repetitive hashing is required to meet a difficulty target. Difficulty re-targeting would be done based on averages of block generation times across all chains. The entire block reward would be allotted to the PoW mechanism.

Entrepreneurs and small business owners who would like to adopt blockchain technology in their business models are faced with challenges when it comes to scalability of the first generation blockchains which are currently available in the market. First generation blockchain Technolgies are built with a base programming layer in mind leaving entrepreneurs with the challenges of building their applicability layer on the base of the blockchain network.

First generation blockchain security frameworks have vulnerable centralized systems which are attacked on their weakest links, this includes application layers which are built by entrepreneurs and small businesses, the application layers are supposed to empower their own security controls. Light client implementation used by businesses are the most attacked lowering the integrity and implementation of blockchain technology in businesses. Metabase networks believes in blockchain technologies and understands entrepreneurs and small businesses need first generation blockchain technology innovative features but the challenges of these first-generation features need to be improved to allow easy adoption, creation and development of businesses that are feasible and impactful. Metabase network are improving the scalability of blockchain technology through the introduction of second generation network that addresses the technical and protocol levels of the network. The metabase network incorporates the economics of scaling the network with adoption by taking inspiration from real world economies. This will allow businesses to scale as they grow helping entrepreneurs and small business owners to turn their ideas into impacts.
Problems MetaBase is solving

The Metabase team has identified that first generation blockchains have hit challenges across the following dimensions, constraining real-world adoption:

1) Scalability

Platforms and cryptocurrencies have hit adoption limits because of scalability issues. In the case of Bitcoin this has given rise to significant transaction fees, clogged mempools and long drawn debates resulting in forks and community splits. Two major problems are:

Transaction fees are typically a function of the currency. If the value of the currency rises (with respect to USD), then so do the transaction fees.
More adoption means more transactions competing for the same block, hence jacking up transaction fees in BTC terms.

2) Limited programming ecosystem

As a first-generation, blockchains have established a base programming ecosystem. But with increasing evolution and adoption, this ecosystem appears to be constrained by limited built-in primitives and requires many developers to learn new coding languages, leaving large amounts of talent still out of the space.

3) Security and Usability

Very few instances of the Bitcoin or the Ethereum protocol being vulnerable have been reported, however, application layer security has been inadequate — because of which multiple incidents happened, like the Parity Multi-Sig Wallet issue (which led to 500,000 Ether being stuck) to the infamous DAO attack, which led the fork of the Ethereum Network.

Existing developer tools are basic and often require hacky third-party tools or centralized platforms to fill the gaps. Also, light client implementations targeting mobile platforms are needed to enable massive deployments.

4) Governance mechanisms

First-generation blockchains — being the first-generation — didn’t foresee governance challenges that a decentralized system, with no central party calling the shots, will face.

THE AMAZING SOLUTION METABASE IS OFFERING

Unlike other Crypto/Blockchain platforms, the conventional blockchain is a linear linked list of blocks. Attempts to increase transaction throughput have focused on parametric changes to this design , hitting roadblocks in the process Metabase is so unique in what they are trying to do in the crypto market the difference is that scalability is one element metabase is trying to solve by helping companies to build decentralized applications with high defined demands. This will be done by adopting a multifaceted approach, thus; creating an innovative next generation blockchain protocol that scales with adoption and also A monetary policy with two cryptocurrencies inspired by real world economies. This set it aparts from existing rival projects and potential ones in the blockchain market.

Metabase aims to create the necessary APIs and development tools that can be used to interact with Metabase. Unlike current solutions that involve third-party SDKs and centralized architecture, Metabase will provide frameworks that can connect to the blockchain directly. The functionality will be implemented in the form of a library for mobile platforms and as a browser extension on browser platforms

Also, Security And Usability also gave metabase a defining edge over competitors, each layer of the Metabase platform will have an impenetrable security reinforcement to mitigate the vulnerability of applications built on this blockchain. Furthermore, Metabase will avail a light client for the deployment of DApps on both mobile and desktop platforms.

Also with Ethereum, creating complex applications is still very difficult because of the lack of standardized community-vetted libraries. Metabase will feature an upgraded Ethereum style virtual machine 2.0 that has a rich programming environment that facilitates the coding of high-level languages. This development platform will also support low-level programming languages.

Metabase will also feature a governance framework that allows developers to control the evolution of the blockchain. It will comprise of improvement protocols that control the core aspects of the blockchain.

The experienced Metabase team has studied and experienced the current problems most protocols are facing and aims to tackle all these problems by building a robust, but usable platform. By addressing the mentioned problems in the following ways:

Scalability

Metabase is a scalable and extensible blockchain platform that helps companies to build decentralized applications with high throughput demands. The team aims to address the scalability problem at two levels:

By creating an innovative next-generation blockchain protocol that scales with adoption.
A Monetary Policy with two cryptocurrencies inspired by real-world economies.

Security

The team is building a secure and robust blockchain platform that helps users to leverage security libraries to build reliable applications. With a goal to improve application layer security, the team is building Metabase from the ground-up to provide a secure platform for application layer programmers that can leverage security libraries to build reliable applications. Light client implementations on mobile and browser platforms help to create seamless integration for blockchain-based applications.

Limited programming ecosystem

At the core of Metabase will be the Virtual Machine 2.0 with an augmented OpCode Space — unleashing a rich programming ecosystem which enables programming on high and low level programming languages for end users and organizations with integrated identity systems within the core blockchain.

Usability

Metabase is an easy to use and customizable blockchain platform that empowers developers with customisable platform-level libraries and intuitive developer tools. Light client implementations on mobile and browser platforms help to create seamless integration for blockchain-based applications.

Governance

A comprehensive governance mechanism will be built into the protocol fostering a commonwealth network that can adapt with evolving business, social, and technical needs.

The mission is to create a blockchain infrastructure designed to empower developers, entrepreneurs and industry, to easily create advanced distributed applications and scale them into the market-leading businesses of the future.

ADVANTAGES OF METABASE

Metabase Mobile Light Client

This is a type of blockchain client that does not need to download the entire blockchain to work. Metabase users will start using official mobile wallets right away instead of relying on third-party software. Metabase Light Client will be able to store and process necessary KYC and identity information securely.

Metabase Browser Extension

Metabase browser extension will enable users to interact with the next generation of products and services safely and securely right from their browser without downloading the entire blockchain.

Metabase Developer SDK and Integrated Development Environment

Developers will be able to create and deploy new products to Metabase blockchain directly by using the browser plugin and IDE. Metabase IDE will not be limited to compiling and deploying smart contracts but will play a critical role during development and guide developers to use best security practices at every step. By using Metabase SDK, custom applications may connect to Metabase full nodes and interact with their smart contracts without the need for a proxy service. Metabase developers will be equipped with rich APIs on KYC/identification, wallet operations, and blockchain query services which will provide a solid foundation for the next generation of blockchain applications.

METABASE TOKEN

The token was inspired by real-world economies where people need a ‘store of value’ where we can all store deflationary currency/asset like Gold) and a medium of exchange. Metabase platform has created a solution by cultivating the untapped ingenuity of makers and innovators around the world. Therefore making it easy for you to launch next generation businesses on an easy to use and scalable Blockchain and Cryptocurrency Platform. The exceptional Metabase platform has incoporated two unique currencies into the Metabase economy which are the Metacore and Metabit.

Metacore:

Metacore is the primary token of Metabase. It will be issued in the ICO and traded on exchanges.
To pay transaction fees on the blockchain, a Metabase node converts Metacore to Metabit tokens using the prevailing exchange rate and then pays the appropriate fees.
Metacore tokens issued via mining will have a deterministic reducing/deflationary supply — similar to Bitcoin but with different generation parameters.
Generation parameters of Metacore tokens are hard-coded into the protocol and can’t be modified by Governance Mechanics (will be determined after pre-ICO)

Metabit:

Metabit is the principal medium of exchange within the Metabase ecosystem.
Besides being the native cryptocurrency, it will be used to denominate transaction fees.
The currency is inflationary in supply, therefore creating a decreasing exchange rate with Metacore over time.
The inflation rate of Metabit is dynamic and governed by the governance framework of Metabase.

Product and Technology

Protocol — The core of Metabase
Mining
Off-chain layers
Governance
Virtual Machine 2.0
Monetary Policy
Metabit — Medium of Exchange
Other tools

Besides an official mobile app and browser extension, Metabase will provide and maintain an SDK and an IDE for developers. These tools will help to create easy to use mobile and browser applications for end users and support developers with robust tools and frameworks, enabling them to create the next generation of blockchain applications.

Token Details

The token price is $0.02 USD and can be bought at discounts accordingly:

This is not official data and is subject to change by the company

The total ICO hard cap is $41,840,000 USD.

Token Name: Metabase Token
Token Symbol: META
Token Value: $0.02
Pre-Sale 2: July 10, 2018
Pre-Sale 2 End: August 17, 2018
Main Sale: September 4, 2018
Main Sale End: November 2, 2018
Total Token Supply : 8,000,000,000 ( 8 Billion Tokens)

TOKEN DISTRIBUTION

USE OF PROCEEDS

Service Providers;

Technology Partners;

And the Liquidity providers are BANCOR and KYBER NETWORK.

Conclusively, The Metabase platform is proffering solution by developing a decentralized platform which will empower the world’s most underused resource entrepreneurs. A platform that enables a broad and diverse group of entrepreneurs and innovators to build blockchain powered decentralized applications and scale next-generation businesses that can impact global society.

ROADMAP

MEET THE AMAZING TEAM BEHIND THIS GREAT PROJECT

Intrepid Ventures is a blockchain venture studio with a globally distributed software development team of designers, engineers, and social scientists building blockchain companies since 2013. Their mission is to aspire to systematically scale transformational innovations that enable financial inclusion, economic development, and digital prosperity.

The experienced management trio, namely Collin Thompson, Zach Piester and John Paul Armenio, shows a diverse skill-set with deep expertise in blockchain development, finance, law, business development, and entrepreneurship making the team well-rounded and highly capable of executing such a complex project.

For this analysis I interviewed Collin Thompson, Managing Director and Co-Founder of Intrepid Ventures. Collin is the passionate visionary behind the project, as a designer he is inspired by easy-to-use, but powerful applications like Adobe Photoshop and Wordpress and is following these principles to build Metabase. He is not only responsible for the vision and branding of Metabase, but also has extensive expertise in the law and regulation of cryptocurrencies and ICO’s. The law and engineering teams are distributed around the globe and the advisory team includes Ph.D’s, fund managers, engineers, and blockchain entrepreneurs.

What I find outstanding from other projects is that the team is not just highly skilled but very passionate about organically building blockchain businesses and communities. Unlike, many other projects that use paid methods to fill their telegram groups to create a hype, the Metabase team is very responsive and interactive within their community, making their telegram group one of the few that are really valuable. Metabase builds their community organically and aims to attract strategic partners that believe in the project long-term, rather than producing short-term hypes. The website offers several informative documents with detailed information about Metabase, ranging from a technical deep dive about scalability to detailed insights into the team’s culture and vision.