Cryptocurrencies are one of the most important inventions since the inception of the web. They are ushering in a new era of decentralization, privacy, and control of one’s own data that has the potential to revolutionize many parts of society. There are currently over one thousand cryptocurrencies in use, with hundreds more being released each year. Their combined market cap has grown from $10 billion in 2016, to over $400 billion at the time of writing, having previously been much higher.
As the success and growth of blockchain-based cryptocurrency have proven, the future will witness a decentralized, efficient, and comprehensive global ecosystem. Entrepreneurs and small business owners who would like to adopt blockchain technology in their business models are faced with challenges when it comes to scalability of the first generation blockchains which are currently available in the market. First generation blockchain Technologies are built with a base programming layer in mind leaving entrepreneurs with the challenges of building their applicability layer on the base of the blockchain network.
First-generation blockchains like Bitcoin and Ethereum have revolutionized philosophical notions of economic trust, political power, and social control. They have laid the foundations for how networked systems, web services and digital communities of the future are to be designed and built. However, as the ecosystem evolves and hits the next level of adoption with more use-cases being envisioned - these blockchains are hitting their technological and design limits, but Metabase will overcome limitations of first-generation blockchains and enable programmers and entrepreneurs to build their blockchain based solutions on a rich, scalable, secure, easy-to-use and evolving platform.
Metabase is a high-performance blockchain and smart opcodes platform for building decentralized applications and next-generation businesses. It features an advanced virtual machine at its core, expanded blockchain programming capabilities and it is designed with security and usability. Metabase aims to provide light client implementations both on mobile and browser platforms to create seamless integration for blockchain-based applications. With the use of blockchain technology, Metabase will be run and maintained by nodes. Each node within the network will have a Node ID. With a Node ID, a Metabase node identifies itself to the network and signs messages to the network. The Node ID is also used to determine which chain on the multi-chain Metabase blockchain the node can mine on. Metabase blockchain will split itself automatically if transaction capacity is heavily used. The blockchain would follow a PoW based consensus mechanism - similar to Bitcoin - where repetitive hashing is required to meet a difficulty target. Difficulty re-targeting would be done based on averages of block generation times across all chains. The entire block reward would be alloted to the PoW mechanism.
Metabase will feature an upgraded Ethereum style virtual machine. This virtual machine will feature an augmented OpCode space which will unleash a more vibrant ecosystem of programming on the blockchain. Additionally, Metabase will incorporate identity constructs into the Metabase virtual machine, therefore, making identity a first-class citizen on the blockchain.
GOAL
Metabase’s goal is to create a blockchain platform to build, scale, and monetize next-generation businesses. The platform offers an innovative consensus protocol, a dynamic proposition for scaling public blockchain protocols, well-designed crypto economic equilibriums, as well as a design focus on usability, which allows the system to be tailored to a broad range of use cases.
WHY CHOOSE METABASE?
Unlike other Crypto/Blockchain platforms, the conventional blockchain is a linear linked list of blocks. Attempts to increase transaction throughput have focused on parametric changes to this design , hitting roadblocks in the process Metabase is so unique in what they are trying to do in the crypto market the difference is that scalability is one element metabase is trying to solve by helping companies to build decentralized applications with high defined demands. This will be done by adopting a multifaceted approach, thus; creating an innovative next generation blockchain protocol that scales with adoption and also A monetary policy with two cryptocurrencies inspired by real world economies. This set it aparts from existing rival projects and potential ones in the blockchain market.
Metabase aims to create the necessary APIs and development tools that can be used to interact with Metabase. Unlike current solutions that involve third-party SDKs and centralized architecture, Metabase will provide frameworks that can connect to the blockchain directly. The functionality will be implemented in the form of a library for mobile platforms and as a browser extension on browser platforms
Also, Security And Usability also gave metabase a defining edge over competitors, each layer of the Metabase platform will have an impenetrable security reinforcement to mitigate the vulnerability of applications built on this blockchain. Furthermore, Metabase will avail a light client for the deployment of DApps on both mobile and desktop platforms.
Also with Ethereum, creating complex applications is still very difficult because of the lack of standardized community-vetted libraries. Metabase will feature an upgraded Ethereum style virtual machine 2.0 that has a rich programming environment that facilitates the coding of high-level languages. This development platform will also support low-level programming languages.
Metabase will also feature a governance framework that allows developers to control the evolution of the blockchain. It will comprise of improvement protocols that control the core aspects of the blockchain.
FEATURES OF METABASE
Scalability: A scalable and extensible blockchain platform that helps you build decentralized applications with high throughput demands.
Security: A secure and robust blockchain platform that reduces the security burden on programmers and helps you leverage security libraries to build reliable applications.
Usability: An easy to use and customizable blockchain platform that empowers developers with customisable platform-level libraries and intuitive developer tools, and monetisation capabilities through OpCodes.
Governance: A comprehensive governance mechanism built into the protocol fostering a commonwealth network that can adapt with evolving business, social, and technical needs.
ADVANTAGES OF METABASE
- Metabase Mobile Light Client
This is a type of blockchain client that does not need to download the entire blockchain to work. Metabase users will start using official mobile wallets right away instead of relying on third-party software. Metabase Light Client will be able to store and process necessary KYC and identity information securely.
- Metabase Browser Extension
Metabase browser extension will enable users to interact with the next generation of products and services safely and securely right from their browser without downloading the entire blockchain.
- Metabase Developer SDK and Integrated Development Environment
Developers will be able to create and deploy new products to Metabase blockchain directly by using the browser plugin and IDE. Metabase IDE will not be limited to compiling and deploying smart contracts but will play a critical role during development and guide developers to use best security practices at every step. By using Metabase SDK, custom applications may connect to Metabase full nodes and interact with their smart contracts without the need for a proxy service. Metabase developers will be equipped with rich APIs on KYC/identification, wallet operations, and blockchain query services which will provide a solid foundation for the next generation of blockchain applications.
METABASE TOKEN
The token was inspired by real-world economies where people need a ‘store of value’ where we can all store deflationary currency/asset like Gold) and a medium of exchange. Metabase platform has created a solution by cultivating the untapped ingenuity of makers and innovators around the world. Therefore making it easy for you to launch next generation businesses on an easy to use and scalable Blockchain and Cryptocurrency Platform. The exceptional Metabase platform has incoporated two unique currencies into the Metabase economy which are the Metacore and Metabit.
Metacore:
- Metacore is the primary token of Metabase. It will be issued in the ICO and traded on exchanges.
- To pay transaction fees on the blockchain, a Metabase node converts Metacore to Metabit tokens using the prevailing exchange rate and then pays the appropriate fees.
- Metacore tokens issued via mining will have a deterministic reducing/deflationary supply — similar to Bitcoin but with different generation parameters.
- Generation parameters of Metacore tokens are hard-coded into the protocol and can’t be modified by Governance Mechanics (will be determined after pre-ICO)
Metabit:
- Metabit is the principal medium of exchange within the Metabase ecosystem.
- Besides being the native cryptocurrency, it will be used to denominate transaction fees.
- The currency is inflationary in supply, therefore creating a decreasing exchange rate with Metacore over time.
- The inflation rate of Metabit is dynamic and governed by the governance framework of Metabase.
Token Details
- Token Name: Metabase Token
- Token Symbol: META
- Token Value: $0.02
- Pre-Sale 2: July 10, 2018
- Pre-Sale 2 End: August 17, 2018
- Main Sale: September 4, 2018
- Main Sale End: November 2, 2018
- Total Token Supply : 8,000,000,000 ( 8 Billion Tokens)
Token Distribution
ROAD MAP
TEAM
For more information, please visit:
Website: https://metabase.network/
Technical White Paper: https://whitepaper.metabase.network/
Facebook Page: https://www.facebook.com/metabasenetwork/
Twitter: https://twitter.com/iv_metabase
Telegram Metabase - https://t.me/metabasenetwork
Metabase Blog: https://medium.com/metabase-blockchain
Reddit: https://www.reddit.com/r/Metabase/
Facebook Messenger: https://www.messenger.com/t/weareintrepidventures
Token Sale Economics: http://token.metabase.network/
Research Roadmap: https://roadmap.metabase.network
Bounty program thread: https://bitcointalk.org/index.php?topic=4416839.msg39350788#msg39350788
Whitelist: https://intrepidventures.typeform.com/to/xrYCTz
Author: JigaMola
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1847143
Disclaimer: This article was published in terms with the bounty campaign. I am not a project team member or its representative but a supporter of this tremendous project.