A MultiPoS consensus blockchain and decentralized real-time application platform has revealed how it plans to move away from mining technology in favor of forging — arguing that a multi proof-of-stake method is more effective and rational for its users.
#MetaHash[1] says forging does not require expensive hardware that’s packed with computational power, which is one of the reasons why mining is so energy intensive, expensive and inaccessible to some crypto enthusiasts. By comparison, forging can be achieved through common web servers and even home PCs which have access to a reliable internet connection.
The company has unveiled a “simple and transparent” process for distributing rewards once transactions are validated. While 50 percent would be shared among holders of #MetaHashCoin (#MHC), 40 percent is devoted to node owners — with the final 10 percent being divided among active users of #MetaGate.
#MetaGate is a browser where decentralized applications — built using “revolutionary platform” called #MetaApps — can be accessed. The startup claims that software constructed through its platform benefits from a graphical user interface that’s comparable with web services that are known, loved and regularly used by the public at present.
In a blog post[2], the company explained: “Mining amounts to the solution of a math problem with the possibility of further verification by any other member of the network. #MetaHash changes this principle. Forging on our platform means forming the block together with all network members and simultaneous [sic] dividing commissions between all users (depending on how many transactions a particular user processed).”
According to #MetaHash[3], its first forging initiatives are scheduled to begin in earnest from August onwards.
MainNet launches
As reported by Cointelegraph[4], the company recently launched a “lightning fast” protocol known as #TraceChain, which can approve transactions
