What Is Metabase Network?
Metabase is a scalable blockchain platform for decentralized applications (DApps) and next generation enterprises. Essentially, its main objective is to provide a platform that facilitates the inauguration of next-gen businesses with a support for simplistic blockchain ledgers as well as digital currencies. Additionally, Metabase intends to provide a solution to the shortcomings of the first generation blockchains, such as Bitcoin and Ethereum.
Problems Metabase Network Seeks To Solve
Presently, the challenge of scalability has resulted in stagnation of the pioneering blockchains. For instance, the Bitcoin network has undergone an increase in transactions costs, forks and community splits due to inability to scale efficiently. Similarly, Ethereum’s low transactions per second (TPS) limit means that it cannot effectively compete with Visa.
Limited Programming Ecosystem
The application layer of existing blockchains is becoming obsolete as days go by, rendering several potential use cases inaccessible. This is because these layers are not an integral part of blockchain design.
Insecurity And Inapplicability
Despite the impressive effort put towards security measures by the earlier blockchains, hackers have identified ways to circumvent these firewalls. For example, the infamous DAO attacks that affected the Ethereum blockchain forced a hard fork to be conducted. Likewise, Bitcoin users have reported several cases of theft.
During their creation, firs generation blockchains overlooked the challenges that would arise as a result of decentralization, including scalability and others.
The Metabase Scalable Blockchain & Smart Op-Codes Solution
Metabase intends to enhance scalability by developing a cutting-edge protocol that scales with the adoption. Moreover, a corresponding monetary policy will be introduced to fast-track the achievement of this goal.
Limited Programming Ecosystem
Metabase will feature a 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.
Security And Usability
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.
Metabase will 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.
What Is Metabit?
Metabit is the principal medium of exchange within the Metabase ecosystem. Besides being the native cryptocurrency, it will be sued to denominate transaction charges. The supply of Metabit is inflationary, and its minting is controlled by the governance framework mentioned above.
Metabase Network META Token Conclusion
The Metabase project was conceptualized in July 2017. Between that time and the end of 2017, the project team were involved in identification of problems and validation of the research. Afterwards, they embarked on the drafting of the whitepaper, a process that was completed in January 2018.
Metabase is planning to conduct a token sale later this year. The presale will take place in June, with the main event occurring in July. The successful completion of the ICO will mark the accomplishment of the second phase in the actualization of the Metabase goal.
After the crowdsale, Metabase will delve into development of the platform. The platform is expected to go live in September 2019.