Metahash - Cryptocurrency for decentralized apps

The world found out what is blockchain back in 2009 when the most-famous cryptocurrency Bitcoin introduced it. 4 years later, in 2013, Smart contracts system was introduced by 2nd most popular cryptocurrency Ethereum and it became blockchain 2.0. Last year, EOS and other similar coins emerged introducing higher performance and better consensus, and crypto-enthusiasts labeled them as blockchain 3.0. So what’s going to happen next? Blockchain 4.0?

We often mentioned that #MetaHash is a next-generation network on blockchain 4.0 technology, but what does it exactly mean? How different is the 4th version of blockchain from previous ones and how did #MetaHash manage to upgrade its network to the latest version of this technology? Answers to this and other questions will be revealed in this article.

#MetaHash has its own blockchain, called #TraceChain protocol. Here are several reasons why #TraceChain belongs to the 4th generation of blockchains:

The #MetaHash network consists of four parts:

TraceChain

The solution to the speed problem is based on an automatic self-learning algorithm for routing signals over the network. Starting at a rate of 50,000 transactions per second (the capability of a 100-megabit channel), it grows as more nodes with higher bandwidth are added to the network forming the core of the network and improving the reliability of additional #DataChains which are needed for running applications.

MetaApps

Nodes added to the #MetaHash network are used by decentralized applications. The core code of #MetaApps optimizes the location of application copies based on required resources and financial motivation of the owners of nodes connected to the network. Any developer can create and publish an application in #MetaApps, and #MetaHashCoin holders will decide by open vote whether or not to approve it, reflecting the universal values of all the network members.

MetaGate

This is an open source interface using the #TraceChain protocol making it possible to work with #MetaApps and networks. Third-party developers can use the #MetaGate code to embed #MetaApps and #TraceChain / blockchain features into various applications and browsers.

MetaHashCoin

The network's digital payment currency. It is used to ensure consensus, to pay for all network services and to control self-financing.

Competition is high and the crypto-market is constantly changing and improving, technology development is not stopping. Demand for a better ecosystem where users themselves will decide how they want to manage their assets and what kind of applications they want to create requires better supply. #MetaHash is introducing a game changer and is aiming to innovate the blockchain in 2018. Fast, safe and decentralized network will prove to be reliable for everyone.

MetaHash ultimate features compared with bitcoin:

The major feature of metaHash is the transaction time which is even less than 3 seconds but if compare it to the transaction of bitcoin it is significantly less as bitcoin has transaction time of ten minutes. Bitcoin only approves 12 transaction per second but metaHash approves more than 50 thousands to one million.

MetaHash came all the way out of the box in terms of making completely decentralized, synchronized, having high bandwidth and fastest network for creating decentralized applications.

The transaction can be made from every part of the world.

It also provides maximum security for which system created 5 algorithms.

Blockchain Technology

Plenty of startups are now using blockchain for everything, from music sharing to global payments, from monitoring diamond sales to the legalized marijuana industry. This is why the technology has a vast potential. When it comes to digital transactions and assets, you can place anything on the blockchain.

Blockchain is basically a distributed database that keeps shared records. These records are blocks, and every block of encrypted code has a record of the block history before it. Each block includes time-stamped information on the transactions made down to the second. The effect is a chain of those blocks to get them together; hence, its name.

A blockchain has two major components: an immutable ledger that the network keeps, and a decentralized network verifying and facilitating transactions. Everyone with access to the network could see this shared transaction data, but there is no possibility that the records can be corrupted or hacked. This decentralized trust means there is no one organization that controls the data, be it a tech giant or a big financial institution.

The Idea Behind

#TraceChain is currently the first fully functioning system based on decentralized distributed data register technology that changes technical principals used in all existing blockchain systems. The initiators behind the launch of the Blockchain 2.0 system are former game developers Gleb Nikitin and Anton Agranovsky (you can check #MetaHash team members at https://metahash.org/).

#MetaHash believes that all existing blockchain systems are too slow and too expensive or are not fully decentralized. The company took several cases as a comparative analysis of the systems that currently hold leading positions in the market, as it stated on its whitepaper (https://metahash.org/docs/MetaHash_WhitePaper_EN.pdf), to support the statements.

Bitcoin
Bitcoin's PoW (Proof of Work), as example, it is a reliable, but very expensive, network integrity protection mechanism. The synchronization process in blockchain is also renowned for the problem of slow nodes. The network is slow as long as its nodes are slow.
Ethereum
Ethereum features a good implementation of PoW, but at a very slow speed caused by direct synchronization between a multitude of participants and low throughput of many PoW nodes.
Its smart contracts are of particular value because they enable response to events in the Ethereum network, but unfortunately they cannot react to anything else and are unsuitable for real-time applications.
EOS
EOS is a reliable and fast banking system. However, it is centralized. 20 supercomputers control the network and provide a maximum number of votes. These top 20 computers synchronize transaction data and receive all commissions. Sometimes the commission is paid to one more computer which is chosen on the basis of the weight of votes cast in its favor.

MetaHashCoin is used for payment:

Token info
Token - MHC
Platform - Ethereum
Accepting - ETH
Price 1 MHC = 0.0125 ETH

Type - ERC20
Price in ICO - 1 MHC = 0.0125 ETH
Tokens for sale - 20,240,000

Investment info
Accepting- ETH
Distributed in ICO - 12%

Roadmap

2012-2016
A network library for receiving signals, working on C++ and capable of simultaneously receiving and sending more than 100,000 requests per second to one inexpensive standard server;
A network library for synchronizing signals within a cluster that manages gigantic data flows between cluster machines;
A machine learning system that decides in 40 milliseconds to respond to a signal taking into account multifactorial interrelationships;
Own analogue of Hadoop’s for similar systems in C ++ for distributed processing of large data.

Q2 2017
Development of #TraceChain protocol (Alpha version).

Q3 2017
Development of #TraceChain protocol (Beta version);
AdNow team joins us.

Q4 2017
Agranovsky IT team joins us;
Formation of Business Development team;
Formation of Operational Team.

Q1 2018
#MetaHash website official launch;
Start of the Operational Team office construction;
Onboarding of experts and advisors;
Multi-asset wallet (alpha version);
Centralized #TraceChain Net spread between multiple servers;
The ICO interface on the #MetaHash platform in the #MetaICO application;
Converting #MetaHashCoins to ERC20 and withdrawing them to the Ethereum network so that #MHC holders can choose which network to use and automatically convert ERC20 tokens into #MetaHashCoins;
Alpha 1.1. (Application Platform);
Testnet data download API;
Opening of the Operational Team office.

Q2 2018
ICO Round A start;
Release of #MetaChains. API featuring transaction history and balance of wallets associated with different blockchain platforms; Decentralized application containing information about transactions in the Ethereum and Bitcoin networks which is necessary to provide blockchain interoperability in #MetaApps;
Encrypted messenger for public notifications and messaging between wallets;
Alpha-peer nodes that connect to TestNet to be installed on any server;
Network core performance testing service (1,000,000 + transactions per second);
Interface for creating tokens inside the network #MetaHash;
Release of ICO project platfom at #MetaHash;
Voting functions in the #MetaHash network;
AI managing the routing of signals between nodes and 100 test nodes in different geographical locations.

Q3 2018
Release of the #MetaToken application, tokenization of ETH, ERC20, Bitcoin into #MetaHashCoin for use in the #MetaHash network;
Alpha-version of #MetaStorage, service for decentralized applications;
The platform for deployment of third-party decentralized applications #MetaApps (Alpha version). From the beginning of 2018, its test version will be available for Beta testing;
Final release of #MetaGate wallet for Mac/Win/Unix/Android/iOS.

Q4 2018
Start of forging;
ICO Round B start or conclusion of the Listing Agreement with the duly organized and regulated cryptoexchange;
Further plan announcement.

Q1 2019
Extensive security testing;
Source code release upon the completion of testing;
Launch of a fully decentralized system.

Team