Currently there’s concern over the speeds and scalability of existing cryptocurrency networks. They take too long to be used as a retail point of sale solution.
In early stage tests of their network however, #MetaHash recorded speeds of more than 60,000 transactions Per Second (TPS), more than double the fast payment standard currently working for Visa at around 24,000.
The project claims to confirm transactions in less than three seconds, all of which if true, could be a game changer for where to apply cryptocurrency.
The project claims to be the fastest and most secure cryptocurrency in the world.
How does it work?
#Metahash, blockchain-based digital asset exchange network, alongside a decentralized real-time application platform, ensures this robustness. #Metash platform uses artificial intelligence to improve synchronization of nodes and create a latency rate-based optimal map of the network. Optimum redistribution of the data is assured by harnessing the network’s capacity of processing five billion transactions per day, with a 3 second confirmation time.
The process is best understood by taking a closer look at the four pillars of the #MetaHash platform:
- The #TraceChain acts as a signal routing protocol, based on machine learning technology. It grows automatically as more high-bandwidth nodes are added to the network.
- The #MetaApps works by optimizing the afferent location of application copies, while taking network resources and the financial motivation of owners into account.
- The #MetaGate, the platform’s go-to browser for decentralized application. It also offers a multi-currency wallet, and allows developers to embed #MetaApps and #TraceChain protocols into their applications.
- The #MetaHashCoin represents the system’s digital asset and primary means of payment. The coin is consensus-based and capable of regulating the self-financing aspects of the network’s development process. Users can exchange it to other cryptocurrencies, such as Bitcoin and Ethereum.
The design philosophy of #MetaHash will provide great benefits to the crypto industry as it will allow users to process billions of transactions without the need of leveraging expensive hardware. Additionally, thanks to the #TraceChain protocol, the network is one of the quickest available, with extremely low confirmation times and almost-zero transaction fees.
By leveraging the #MetaHash network, the cryptocurrency industry will see a rapid development, granted the advantages offered by the technology. Users of #Metahash can look forward to solving scalability problems which have been identified by experts as being the cause of transaction delays.
Following the recent network debut which proved an unprecedented speed of more than 60,000 transactions per second, the exchange network and decentralized application platform, announced details around its upcoming public token sale and beginning of forging as an evolution of mining. #MetaHash aims to allocate 920,000,000 #MetaHashCoin (#MHC), equivalent to 10 percent of its token emission.
Starting from 12:00 UTC on 29th of June, 2018, and continuing until the goal is reached, interested parties can purchase #MHC for $0.0391 per token (will be accepted in ETH and BTC at the exchange rate at the time of purchase). The first buyers of tokens will enjoy the attractive initial price which is at least 2 times lower than at the next phase. Moreover, they may also get the maximum advantages of the early forging, the start of which is planned for August of 2018.
Those who wish to learn more about #MetaHash can visit the official website, follow the team on Medium, join the official chat on Telegram, and check out the presentation video. To apply for the ICO, please submit your request at metahash.org/#ico.