#MetaHash aims to be a decentralized network for digital asset exchange and a platform for building decentralized applications.
The purpose is to create a fully decentralized internet, bringing freedom from the control of large corporations.
#Metahash claims their network allows for Decentralized applications that work in real time, like regular web services and applications.
#MetaHash claims to be a blockchain 4.0, bringing together the level of decentralization of Bitcoin and Ethereum with the high-performance levels of EOS.
The #MetaHash network consists of 4 parts: #TraceChain, #MetaApps, #MetaGate and #MetaHashCoin. Blocks are produced in a way that is called ‘forging’, a process of block generation and validation which supports the operation of the entire MetaHash network. Every single node participates in this forging process.
#MetaHashCoin is the network's digital payment currency. The coin is used to ensure consensus, to pay for all network services and to control self-financing.
MHC is not only supposed to be used for making transactions and payments but also for data storage, powering DApps, and having those DApps listed on MetaGate directories.
#MetaGate is the gateway to the decentralized internet, a combination of a wallet and a browser.
The gateway exists in parallel with the usual internet but has its own rules. The #MetaGate wallet/browser is supposed to be as easy to use as any normal web application.
Decentralized applications need extra nodes added to the #MetaHash network. #MetaApps are called the “evolution of smart contracts and dApps”
. #MetaApps are comparable to other blockchain smart contracts, which means the program that you write will only do what it is programmed to do. But, in order to change the programmed outcome, the ‘parties’ (token holders) will first need to agree on this.
In this way, #Metahash wants to avoid a situation as what happened with The DAO. #MetaAppss are not limited to one programming language or one blockchain.
Based on the #TraceChain protocol, independent sub-chains protect the main #MetaHash network. In this way, thousands of #MetaApps will be able to operate cost-effectively without overloading the main network or slowing down other applications.
Starting at a rate of 50,000 transactions per second, the network can grow as more nodes with higher bandwidth are added. Additional #DataChains are then needed for running decentralized applications.
