Following the testing period, finally, we are excited to set the date for the official start of Forging — the new update with the live application will be released on February 12, 2019. Right from this date #MetaHash users may start using their coins for supporting consensus via wallets, proxy nodes, or delegating coins and receive rewards.
We are thankful to our community for their great support and valuable feedback during the test. More than 100 servers have been registered by #MetaHash users, which is 2 times higher than a minimum requirement for the network’s proper functioning. More than half of those registered servers were active during the test thus supporting the capacity of up to 700,000 transactions per second. As part of delegation test, more than 6000 user wallets delegated their coins. Besides, the efficiency of proxy has been significantly improved — the latest version is 2 times faster than at the start of the test. Your deep involvement, more than 500 bug reports and recommendations significantly contributed to getting to the point when we can officially launch one of the fundamental parts of the project.
To get properly ready for the release, please also don’t forget to transfer all of your coins from ICO account to your #MetaHash wallet.
Forging is the evolutionary form of mining and a new concept of protecting the network consensus based on proof of stake rather than proof of work. Featuring such indisputable advantages as scalability, speed, considerably lower hardware requirements and expenses, and attractively higher and fairer rewards, Forging is now considered as the most effective approach capable to push blockchains for massive adoption. In #MetaHash 50 percent of all rewards for forging are distributed among the #MHC owners, 40 percent are granted to the nodes’ owners and the remaining 10 percent are earmarked for rewarding the active users of the #MetaGate browser and #MetaWallet. Coin holders can also entrust their voting rights to their own nodes or may pass their voting rights to a trusted node operator for a share of the commission.
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