#MetaHash: the most important

Forging, and what are other ways
to earn #MHC besides forging?

Understanding the economics of forging.

  • 50% of all #MetaHashCoins will be distributed over 10 years by forging. That is exactly 4,600,000,000 #MHC.
  • 708,400,000 #MHC (or 15.4% of the total forging pool of all time, or 7.7% of the #MHC total number) will be distributed among the forging participants within the first year after the start. The fewer coins are used in forging, the higher rewards for the participants.
  • 70,840,000 #MHC (or 10% of the reward from the forging pool) will go to those who have #MetaGate active and at least 100 #MHC in their wallet. If you don’t have much money, the best way for you to earn #MHC is to use #MetaGate every day (by launching it on your computer).
  • 637,560,000 #MHC (or 90% of the reward from the forging pool) will go to those who have 100,000 #MHC and more in their wallets.

For example:

Suppose you got 100,000 #MHC from the Ethereum and #Bitcoin fork or bought them at ICO, and another 10,000 people joined forging with at 100,000 #MHC or more. In this case every participant will get 63,756 #MHC, or 63 #MHC for each 100 #MHC taking part in the forging process.

If only 500,000,000 #MHC sits in the active #MetaGate systems, not 1,000,000,000 #MHC, then the reward will be 127,512 #MHC for each 100,000 #MHC owned by an active #MetaGate user

Kernel nodes are more economically feasible for those who have 1,000,000 #MHC or more, as kernels have voting restriction of 10,000,000 #MHC, but no restrictions on rewards. This means it is more profitable to have 100,000,000 #MHC and one kernel, rather than 1,000 Peers with 100,000 #MHC each.

The fees paid by network participants for storing data and making transactions will be added to the forging rewards pool and split in the same way as the forging rewards pool, which amounts to 50% of all coins issued.

What are other ways to earn #MHC besides forging?

Forging is not the only way to earn #MHC.

#MetaApps will be paying for computer resources, such as CPU time, data storage space and data transmission in MHC. So you can donate your home PC or server idle resources to #MetaApps applications using the #MetaGate, and earn your #MHC that way.

Multi-PoS. Multi Proof of Stake.

#MetaHash uses a new consensus type called multi-PoS.

The best method is to buy or earn 1 #MHC and to participate in forging using #MetaGate.

#MetaHash uses a new consensus type called multi-PoS.

Unlike the current blockchains, in which the nodes confirm transactions in turn, and the longest block is accepted as the correct one, voting and block formation in multi-PoS is performed by all network nodes at once. This substantially reduces the time required for the final verification of the transaction.

To understand the principle of multi-PoS, one has to look at the current blockchain operations through our eyes, and follow our train of thought to see how we address the issue of operating speed.

Initially we had an idea of a decentralized project that could not be implemented on any of the existing networks. After looking at the various instruments available in the market, we decided that the most appropriate thing would be to create a network that will enable us to create real-time projects and a blockchain that can quickly and efficiently perform even smallest transactions with contractors located at any continent.

To address the issue, we decided not to copy the architecture of the existing blockchains but to look at the issue from a different perspective: how do we build the fastest network for syncing data between hundreds and thousands of computers? After numerous tests, the current architecture of the #MetaHash network was developed, in which a decentralized AI builds the optimum network synchronization map based on tests and actual network operations data.

Once the first prototype network was launched, we realized that since we have a fast synchronization, we don’t have to build sequential consensus; all nodes’ votes can be counted as a new block is in the process of being built.

Here is what happens to a transaction:

  • 0.2-0.4 seconds – transmission between Peer Nodes.
  • The peer nodes maintain connections to slow clients and reject transactions with invalid signatures.
  • 0.8-1.2 seconds – transmission to Verification Nodes.
  • Verification Nodes are organized into latency clusters with Masters/Slaves spanning geographically remote areas.
  • Verification Nodes check if there are enough funds to complete the transaction and carry the load associated with high-latency cross-continental peer connections.
  • 0.4-0.6 seconds – transmission to Master Nodes.
  • The Master Nodes sync lost transactions and build a block from correct transactions.
  • 0.3-0.5 seconds – Slaves check the validity of the block created by the Master Nodes and send it on to the torrents.
  • 0.6-0.8 seconds – blocks from the nearest Slave Nodes are propagated via torrents, from which the client can collect transaction confirmation and current balances.
  • If torrents consider themselves invalid, they launch the process of role redistribution and verification of what Master/Slave Nodes have been corrupted.

There isn’t a single node in multi-PoS that would create the block, and the reward is shared between all network participants in proportion to their contribution.

The entire network takes part in forging a block, with different nodes playing different roles in the process. Since the rewards are assigned to ALL PARTICIPANTS AT ONCE, this procedure can take place once every four hours, based on each participant’s contribution. The rewards are also calculated using all the machines and confirmed by general vote, just like an ordinary transaction.

The path from a distributed network to complete decentralization.

We have launched a network that works as described in this document; it spans hundreds of servers on all continents and emulates the operation of the future completely decentralized network.

Any new type of consensus has to go a long way to ensure protection from various attack vectors. We take network security extremely seriously, and here is what we are working on today:

  • Collecting mathematical proof of the current consensus model;
  • Engaging major IT security companies in preparation for a public Hacker Bounty Program, in which anyone who hacks into the server gets a substantial reward;
  • Considering all possible attack vectors, from manipulating the consensus to network slowdown/denial of service.

We will be adding user computers slowly, role after role, until the network is completely decentralized and the role distribution is passed on to Trace AI, built into every network node in each role. As a result, each network node will have exactly the same software installed, and which node gets what role will be decided by a general vote.

Learn more in Yellow Paper

Contents

Join discussion