#MetaHash: the most important

#MetaHash: the most important

#MetaHash ICO goals

The goal of #MetaHash ICO is to make sure that the coins go to as many people with an interest in decentralized projects as possible.

We do appreciate and respect the community interest in our project.

The goal of #MetaHash ICO is to make sure that the coins go to as many people with an interest in decentralized projects as possible.

Our goal is to distribute #MetaGate to as many users as possible who volunteer to take part in Forging (as an alternative to Mining), or to make #MetaApps based on #MetaHash network. We aren’t urging you in any way to buy our coins; moreover, we suggest you use multi-currency wallet and other free services, only buying coins when you need them. #MHC will be available through the store, or you can purchase them from other users, directly or via specialized platforms, once the store supplies are all out.

We received offers for sale of the entire issue of coins to a single buyer, but we rejected those as they aren’t capable with the project’s ideology. So we will provide quotas and restrictions to large buyers while offering no minimum purchase restrictions. The #MetaHash ICO is specifically designed to be of interest to those who want to become our partners in building the network or launch their #MetaApps applications on the #MetaHash network.

50% of all coins will be distributed through forging in the next 10 years. These coins can be used to forge more coins using PoS principle – from the Forging rewards pool or from fees paid for network services.

So buying the coins at the ICO and selling them right away is the least profitable strategy one can choose.

#MetaHashCoins come with voting rights. They give you equal rights with the project founders to decide the future of the product. That is, once the ICO is completed, #MetaHash becomes public domain, and its destiny is in the hands of all its participants.

Why do we answer “Think before you buy #MHC” to most questions?

We do appreciate and respect the community interest in our project. But we do want #MHC to be bought by those who understand and share our ideology and want to develop #MetaHash together with us. Before buying #MetaHashCoins, we suggest you start using #MetaGate and our services, so you can understand what the idea of the project is and if you want to develop it with us regardless of whether you bought the coins, got them as a result of forking or earned through the use of #MetaGate.

We will be open about everything project-related.

Someone will always be dissatisfied with any decision we make. But we believe that the only way to build a long-term community of loyal project fans and supporters is to keep no secrets from them.

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 Round A, 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.

#MetaHash Market Capitalization

The term “Market Capitalization” is the key to understanding the feature of cryptocurrencies.

To understand whether it is cheap or expensive, you need to compare #MetaHash with projects in the 80th to 100th place in Round A

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

The term “Market Capitalization” is the key to understanding the feature of cryptocurrencies.

  • The prices of all cryptocurrencies in existence today are tied to an overall cryptocurrency index.
  • The only exceptions are tokens tied to fiat currencies and assets that exist outside the cryptocurrency market.
  • Otherwise, all cryptocurrencies and tokens look the same for the world.
  • When evaluating any project, one has to think in terms of what market share it can win from other coins and tokens issued by various projects.
  • Market Capitalization is calculated as the sum total of all coins at a certain moment in time, multiplied by their current price.
  • Circulating Market Capitalization means all the coins in circulation right now multiplied by their current price.
  • A growth in a currency exchange rate means that more people want to keep their assets in this currency; on the contrary, a drop in the exchange rate means the people prefer to withdraw their assets into other currencies. Most of the withdrawals into fiat money happen in the exchanges, via Bitcoin.
  • Naturally, many currencies have their unique properties that make their rates more stable against general market fluctuations against fiat currencies.
  • For #MetaHash it is the demand for #MetaHash coins for forging purposes and for the operation of #MetaApps.

The price of #MetaHashCoin – is it expensive or cheap?

  • It would be a major mistake to judge whether a currency is cheap or expensive by the price of a single coin.
  • Cryptocurrency pricing in the open market is not linear.
  • 0.0001 ETH can be expensive while 1 ETH is cheaper.

The most important parameter when assessing any project is the Circulating Market Capitalization. This indicator, together with the general evaluation of the token or coin economy, helps identify the exchange rate dynamics.

Let’s consider #MetaHash as of the end of Round B.

At this moment, 2,760,000,000 #MetaHashCoins will be available in the market. These coins come from the Founders & Private Round, Round A, Round B, #MetaHashCoins for Ethereum and Bitcoin owners.

With the Round A price equal to USD 0.0391, the Circulating Market Capitalization would be USD 107 916 000 or 0.221% of Ethereum capitalization on June 14, 2018.

Projects with this level of capitalization rank in the 90th-100th spot at coinmarketcap.com

With the Round B price planned of at least x2 of the Round A price, the Circulating Market Capitalization would be USD 215 832 000 or 0.442% of Ethereum capitalization on June 14, 2018.

Projects with this level of capitalization rank in the 50th-60th spot at coinmarketcap.com

So, to understand whether it is cheap or expensive, you need to compare #MetaHash with projects in the 90th to 100th place in Round A and in the 50th to 60th place in Round B, and with capitalization of competing coins at later development stages within the Top 20.

Your best method of getting the coins depends on your budget.

If you are on a limited budget:

The best method is to buy or earn 100 #MHC and to participate in forging using #MetaGate. 460,000,000 #MHС (5% of the total amount) from the pool reserved for #MetaGate users will be distributed among the active #MetaGate over 10 years.

If you have sufficient amount of cryptocurrencies:

You can get up to 100,000 #MHC free per person, by confirming you have Ethereum or Bitcoin.

  • 4,000 #MHC for each Bitcoin (100,000 #MHC for 25 BTC)
  • 2,000 #MHC for each Ethereum (100,000 #MHC for 50 ETH)

The coins are distributed from the Ethereum and Bitcoin fork pool of 460,000,000 #MHС (5% of the total number).

This means at least 4,600 people will get the funds from this pool, but we expect that number to be larger in reality – up to 20,000-25,000. You can buy more #MHC, up to 100,000, to take part in the forging process as a Peer Node. This way you will get rewards both as a coin owner (50% reward) and as a node owner (40% reward). One Peer Node cannot get rewards for more than 999,900 #MHC.

If you have even bigger amounts of cryptocurrencies:

You can buy 1,000,000 #MHC or more and become one of the kernel nodes on the network.

The advantage of owning a kernel node is that these units are not limited in terms of coins to be forged, and running a single kernel node is more advantageous than many Peer Nodes.

A kernel node’s voting power is limited to 10,000,000 #MHC, but they can get reward for an unlimited number of coins trusted to that node, so it makes sense for those network participants who do not have their own nodes trust other kernel nodes with their money, while kernel node owners would get an extra 40% reward when forging on their servers, for their own and others’ #MHC.

Understanding the economics of ICO

Effectively, the market will determine the fair value of #MetaHashCoins before the start of Round B. By that time, forging will be up and running, and there will be demand for coins both from those who want to take part in forging and from those who want to build their own #MetaApps.

Step 1

  • Launching #TraceChain distributed network and #MetaGate application;
  • Completing the legal works to structure the company and get permits from regulators and legal opinions from lawyers In different countries.
  • We want everyone to be able to look at the finished product before buying #MHC.

Step 2

  • Selling 5% #MHC reserved during Founders & Private Round
  • Selling 10% #MHC for Round A

Step 3

  • Forking the Bitcoin and Ethereum networks, in which 5% #MHC will be distributed among the most active Bitcoin and Ethereum users. In effect, this is a very expensive advertising campaign, the aim of which is to get the most active users interested in #MetaHash. This is why the bonus for Ethereum coins is higher than the Bitcoin reward, compared to their value in fiat currencies.

Step 4

  • Forging launched;
  • Sales start at specialized platforms.

By this time, up to 17% of the final number of #MHC will be in circulation:

  • 10% purchased in Round A;
  • 5% received for free by Bitcoin and Ethereum fork participants;
  • 2% #MHC from the Founders & Private Round participants.

3% #MHC from the Founders & Private Round are frozen until January 1, 2020 and cannot take part in the trading.

Since 17% of the #MHC will be available in open sale at this moment, you can try buying them in the market cheaper than Round A price. But do keep in mind the following:

  • If a bounty program is launched, its participants will be receiving rewards in ETH from the marketing budget, not in #MetaHashCoins;
  • Advisors get their reward in ETH from the proceeds;
  • We do not grant any discounts in Round A, regardless of the volume they would like to purchase;
  • We are already receiving bookings for Round B from major funds.

Effectively, the market will determine the fair value of #MetaHashCoins before the start of Round B. By that time, forging will be up and running, and there will be demand for coins both from those who want to take part in forging and from those who want to build their own #MetaApps.

Step 5

Round B starts.

At the start of Round B, #MHC will be sold at the market price, but strictly not less than x2 of the Round A price.

This way, until the market price exceeds x2 of Round A price, 10% of the coins in Round B will not be sold and will be reserved by #MetaHash AG.

Why do you need that much money?

In a perfect world, it should be enough to create the best product, and the entire planet will learn about it. But in our world, creating even as large and complicated a system as #MetaHash and maintaining a community of developers is the smallest cost item of the project.

The big collections are needed to:

  • Compete for developers with other projects that can stimulate their development in other platforms;
  • Motivate the best advisers and experts;
  • Draw the attention of the media that likes large projects with impressive collections;
  • Hold a massive advertising campaign;
  • Business development in all continents of the world.

From day one, we aspired to be one of the market leaders and make sure many of the people not using cryptocurrencies yet will start using #MetaGate and applications on the network. Low project funding compared to the competition may prove a serious obstacle to project development and have a negative impact on all participants.

What happens if some of the coins are not sold?

If the Round B price proves itself as too high for the current stage of the project’s growth, all unsold tokens remain in the reserve of #MetaHash AG until the set price meets the market’s expectations.

However, those who already purchased our coins will get a higher reward from forging.

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.

Questions regarding the new consensus / Yellow Paper.

You will certainly have a lot of questions on how the consensus works and how the network reacts to various attack vectors and failures in the global network, such as a temporary split into two or more parts.

We will prepare and publish all the documents step by step.

Ultimately they will all become parts of a single Yellow Paper which will offer a complete description of all the network operation aspects.

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