Switzerland-based #MetaHash, a decentralized real-time application that utilizes a MultiPOS consensus algorithm to process near-instantaneous payments, has launched its ICO on June 29, 2018.
Touted as a “lighting-fast” protocol, #MetaHash can process over 60,000 transactions per second – a statistic unrivalled by many of the currently-available cryptocurrencies.
The company has developed its native blockchain protocol, called #TraceChain, which makes up one quarter of the components that ultimately build a “simple, synergistic entity.”
#MetaHash tested its protocol for over three months in 2018, with conclusions explicitly confirming a confirmation time of three seconds per transaction. More than 500 billion transactional results were analyzed.
For transactions, the company uses a previously unheard “forging” process instead of “mining,” which has in recent times been criticized for its high-energy usage and slow, expensive confirmation process.
Forging does not require expensive computing hardware to maintain the #TraceChain, instead generating consensus by deriving value from #MetaHash’s native cryptocurrency (#MHC), that can be used for renting a cloud-based web service or any other physical server that contributes the required computing power.
As the company migrates to a MainNet in August 2018, early node adopters will be handsomely rewarded for contributing to the network. Additionally, as the amount of forgers increases, the forging rewards will proportionally increase.
In terms of staking rewards, the company stated:
“50 percent of all rewards of forging are distributed among #MHC owners, 40 percent are granted to nodes’ owners and the remaining 10 percent are used to reward #MetaGate browser’s active users.”
The #MHC token is currently available for $0.0391, and can be purchased with both Bitcoin and Ether.