In recent months, a lot of the buzz in the crypto industry has not been on cryptocurrencies as a store or transfer vehicle of value, but on the possibilities of decentralization for creating whole new business models. It is still very early in the development of this domain, and as of yet, only a few decentralized apps (DApps) like cryptokitties on Ethereum have seen much success and adoption. In many ways, there are still large barriers to adoption for developers looking to integrate decentralization in their offering, but thanks to the lively developer ecosystem in crypto that is changing.
One such development that could hold promise for the future of DApps is the #MetaHash project. It is a development progressing in its creation of an integrated ecosystem that allows developers to create and scale DApps with many different benefits compared to other platforms.
Decentralization for the future
As explained in the #MetaHash white paper: “Blockchain systems brought to life the incredible principle of decentralization of trust. The reason why this technology emerged is that people do not believe other people but are ready to believe thousands of machines belonging to thousands of different people. We tried to reinvent only the technological principle of this technology, to make it faster and more user-friendly. One might think that the world does not need thousands of transactions per second but that would be a big mistake.” This is how the platform seeks to further the DApp ecosystem, through superior speed and scaling abilities. The #MetaHash testnet demonstrated that their blockchain can handle all transaction in under 3 seconds and can handle billions of transactions per day.
The main importance of the benefit of this speed is also linked to the other components of the system. The rewards for forging (similar to mining but less resource intensive) on the network are allocated as 40% for the person running the node, 50% for the wider network, but interestingly 10% for those that use the MetaGate browser, which is an integral part of the #MetaHash value proposition. Users can better interact with the DApp ecosystem when online by using the browser, which is what the #MetaHash DApps will be designed to use. Thus a mutually beneficial ecosystem of node operators, users, and DApp creators can flourish.
Unlike existing tech paradigms where the owners derive most value, there are financial benefits for all participants in the network. The #MetaHash team have worked to make this value proposition as attractive as possible, and this also applies to the upcoming token sale. Round A of the sale has begun on June 29th at 12.00 UTC, with the initial batch of coins being sold for $0.0391 (can be purchased in BTC or ETH at the exchange rate at the time of purchase), which is likely to be half the price of later rounds.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
AZ FundChain Offers a Compelling Alternative to Traditional Crowdfunding
Although many tokens have collapsed during the ongoing altcoin apocalypse, the future remains bright for applications with real world usage. Because of the ongoing bear market and limited trading opportunities, analyzing businesses with the potential to experience real world adoption should be the priority. Part of that analysis should include looking at industries that need improvement. During my analysis, one area that quickly popped up is the field of traditional crowdfunding and money circles. And, as it turns out, AZ FundChain application offers a compelling alternative.
Problems with Traditional Crowdfunding
President Obama’s JOBS Act essentially laid the ground work for crowdfunding. This legislation was passed in 2012 and included a provision for large groups of anonymous investors to fund startups. It essentially gets around the dreaded “qualified investor” requirement that created a barrier for so many potential participants. Crowdfunding is a great way for non-traditional businesses to raise funds for operating capital. It certainly beats having to beg a bank for a loan, or, even worse, a loan shark.
But, as the common cliché goes, no good deed goes unpunished. Traditional crowdfunding and money circles certainly have their fair share of problems. The biggest problem is trust. There are essentially very little checks and balances when it comes to how these companies will use the money that is raised. Companies can promise the world but may not deliver…
Why no one should be using banks
If government is the devil, the bank is a demon.
It’s not your money anymore.
The moment you put your money on your bank account it becomes the property of the bank. Legally speaking you have just lend your money for minuscule interest. And since the money is not your, terms do apply, so you cannot withdraw all of them in one day, if the amount is high.
Government will know everything
Today banks are obligated to tell the authorities everything they know about you, including how much money you have, how you got it and where you spend it. The golden age of bank secrecy is over. Of course if you are a law abiding citizen, you might think that you have nothing to hide, but it’s not about hiding stuff. It’s about basic human right, and rightness for private life. The government should not be allowed to watch you.
Banks ask too many stupid questions
It’s your money, you rightfully earned them, but still you need to explain to the bank where you got it from and be shamed by them. The funny part is that after long and painful due diligence process the bank may still decline in providing service for you.
They can legally suspend your account or even steal your money
Laws are not made to protect people, they are made to protect the…
Neteller to Launch a Crypto Exchange
The way to make sure that the cryptocurrency momentum continues and that cryptocurrency credibility occurs is when big companies begin offering services based around cryptocurrency and other features of blockchain. This was certainly the case when Neteller recently announced it will offer a cryptocurrency exchange service in addition to its digital wallet services. The company announced that the 28 currencies compatible with the fiat wallet were able to buy, sell, and hold cryptocurrencies – including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. It makes sense to begin with Bitcoin and Ethereum as they are seen as the originators of what cryptocurrency and blockchain can do and also the future of how blockchain can be used, despite news that Ripple may be set to topple them all. Neteller’s move into cryptocurrency shows it has its sights set on a bright future of cryptocurrency and making it more accessible. But where do they stand now?
Neteller and Cryptocurrency
Neteller are optimistic about the exchange features of the digital wallet, claiming that they plan to add more cryptocurrencies in the near future. Neteller’s benefit is the ease at which one can begin their cryptocurrency trading journey. Not only do a range of banks offer services to fund the wallets and exchanges, but so do a variety of online payment options. This helps remove the barrier to entry that exists in…
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