What is Metahash?
MetaHash aims to build a decentralized network for exchange of digital assets and a platform for building decentralized applications that would be able to work in real time.
MetaHash will consist of 4 products:
- TraceChain – MetaHash decentralized ledger that could potentially be able to validate transactions in 3 seconds and proceed five billion transactions per day.
- MetaApps – are unique decentralized applications that would be able to be deployed using special smart contracts. These smart contracts would support any of programming language including, solidity, PHP, C++, and others.
- MetaGate – aims to be a directory for DApps allowing good UX, a browser, gateway to a decentralized internet, and a multi-asset digital wallet.
- MetaHashCoin– MHC is a cryptocurrency that could have used for paying fees for operation on decentralized applications, payments and for data storage.
Their long-term goal is to build a unique version of decentralized internet.
MetaHash aims to solve the biggest problem that cryptocurrencies are currently facing with a Scalability problem. Among others, Ethereum, the most well-known smart contract platform has this problem too.
Decentralized applications build on top of its blockchain don’t scale well causing that only a few users at the same time can use them. It also has a negative impact on transaction fees making the use of these kinds of applications extremely expensive.
MetaHash will try to solve ‘speed problem’ by implementing an automatic self-learning algorithm that will route the signal over the network. In the beginning, speed is supposed to be 50,000 transactions per second, but it should grow as more nodes with higher bandwidth are added to the network which should improve the reliability of additional #DataChains that needed for running real-time applications.
MetaHash team also aim to deploy independent sub-chains which would be protected by the main #MetaHash network and would also operate by using #TraceChain protocol. Sub-chains supposes to unburden the main network which could make possible for thousands of applications to operate fast and cost-effectively.
Metahash was co-founded in 2017 by Gleb Nitkin, founder of Adsniper, a company with 29 employees, Vladimir Nashkin, CEO of AdNow, a company with 89 employees and Anton Agranovsky, founder of Agranovsky IT, a company with 11 employees.
For more information on the team check Here
- Telegram: 51.658 members
- Twitter: 9.854 followers
- Facebook: 19.755 followers
News and Updates
- MetaHash Starts Forging Test
- MetaWallet Beta test – Android
- Introduction to #MetaHash by Gleb Nikitin
For more News and updates check Here
- Private sale end date: February 27, 2018
- Main Token Sale start date: 29 June 2018
- Main Token Sale end date: 29 Aug 2018
- Total Token Supply: 9,200,000,000 #MHC will be released for circulation within the next 10 years.
- Token Symbol: #MHC
- Main Token Sale Price: 1 #MHC is 0.0391 USD, 1 MHC = 0.0125 ETH
- Blockchain Used: TraceChain
- Token Type: Utility
- 3% of MHC is distributed among #MetaHash founders for the price offered during the Private Round.
- 2% MHC reserved during Private Round
- 10% of MHC is distributed during ICO Round A.
- 10% Reserve pool to be used for business development and strategic partners. (https://medium.com/@themetahash/metahash-successfully-completes-round-a-and-cancels-round-b-6415961b679c)
- 5% of MHC is reserved for building a fork of Ethereum and Bitcoin. This is 460,000,000 MHC.
- 10% MHC emission: 1% per year for 10 years to encourage the project’s development.
- 10% MHC emission: 1% per year for 10 years to stimulate Project Team
- 50% MHC will be issued in the next 10 years to stimulate forging.
The intended use of funds:
- 16% – Project development
- 13% – Business development
- 33% – Advisors and Authors fees
- 16% – Advertising
- 22% – Reserved
- Q3 2018: MetaICO(v.4.0) ) – Release of the MetaToken application, tokenization of ETH, ERC20, Bitcoin to MetaHashCoin for use in the MetaHash network
- Q3 2018: TraceChain(v.6.0) – MetaStorage, service for decentralized applications
- Q3 2018: MetaGate (v.3.0). Final release of MetaGate wallet for Mac/Win/Unix/
Android/iOS with MetaApps catalogue
- Q4 2018: TraceChain(v.7.0)- Start of forging
- Q4 2018: ICO Round B or conclusion of the Listing Agreement with the duly organized and regulated exchanges.
- Q1 2019: Extensive security testing, Source code release upon the completion of testing, and Launch of a fully decentralized system
MetaHash has a lot of competitors, but the most well-known are Ethereum and Bitcoin. A key points that MetaHash wants to achieve are fast transactions and cheap transactions.
Both, Ethereum and Bitcoin are facing with Scalability problem that reflects in slow and very expensive transactions. While Ethereum average transaction speed is 15 transaction per second, Bitcoin can proceed between 3 to 7. These numbers are looking devastating against a Visa that can proceed 8000 transactions per second.
Methash claims that its network can achieve from 50 000 to millions of transactions per second which is more 7000 times faster than bitcoin.
Besides Ethereum and Bitcoin, MetaHash competitors are QTUM, LISK, Matrix AI Network and others smart contract platforms.
While this project has set some very ambitious plans in their roadmap, it is still uncertain if they can deliver what they promise.
According to the roadmap, they will launch a fully decentralized system in 1Q of 2019, and only when we see its source code, we can comment further on this project.
However, if we look at their GitHub account, we see that it has only four users, which is very small for a project of this size.
There is also doubt if their marketing team can promote this product, which is necessary if this project wants to achieve a wider adoption.