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Everything You Need To Know About MetaChain, Mining, And Proof Of Meta (PoM)

MetaChain, the core component of the Metatime ecosystem, is designed for three main purposes: Security, scalability, and speed.

Wednesday, 14 June 2023

In this context, MetaChain is intended to be able to handle millions of transactions at the same time in a fast and secure manner.

MetaChain

MetaChain continues to be developed by Metatime with engineers and scientists since 2019. The Proof of Meta concept includes unique and innovative solutions such as the Hybrid Mining System. The combination of these innovative technologies and models aims to eliminate the fundamental problems that are hindering the widespread adoption of Web 3.0.

MetaChain is the core component of an entire ecosystem in which core applications work in an integrated way and forms the infrastructure of the ecosystem. The main solutions developed by Metatime will form part of the ecosystem on the first day of the blockchain network rollout, and MetaChain will have its own ecosystem.

Metatime planned and designed MetaChain and the ecosystem built on it before it started development, proactively identified future user needs, and gathered all the necessary technical knowledge and infrastructure. It offers a fast, secure, and scalable ecosystem with blockchain technology-based products by bringing together end-to-end solutions, from the daily needs of individuals to the most complex problems of corporate structures, in a decentralized and integrated manner. MetaChain is designed with all scenarios in mind, including the applications that will run on it, the integrations that developers will make, and the increased utilization rates of blockchain technology.

Our main goal is to create a unique culture with MetaChain native applications and lead the way for blockchain technology to complete its 'human-centered evolution, by taking the end-user's suggestions in all the stages where the ecosystem takes shape.

Let's get to know this ecosystem better:

Proof of Meta (PoM), or Hybrid Consensus Mechanism, is the original MetaChain solution that incorporates MetaAnthill technology and the MPoS, MPoH, and MPoSW consensus mechanisms. The Proof of Meta consensus mechanism sends all incoming transactions to MetaMiner, MacroMiner, and MicroMiner, which are part of the hybrid mining system, with 'intelligent load optimization' so that thousands of transfers can be audited and processed in the same second. If approved, the transactions whose control is completed, are processed into blocks and published on the network, and synchronized by all nodes.

MPoH: Meta Proof of History is a protocol developed by Metatime that proves the order in which transactions occur on the blockchain and whether transactions are proceeding correctly. Meta Proof of History also ensures that the network runs fast while maintaining the security of the blockchain network.

MPoSW: Meta Proof of Social Work, developed by Metatime, allows the user to check the transactions reaching the blockchain and quickly approve or reject them, as well as provide guidance by answering questions about the ecosystem and contributing to the ecosystem in a social sense.

Meta Virtual Machine (MVM)

Meta Virtual Machine (MVM), with its unique consensus structure and high-speed communication and synchronization capability between nodes, enables fast transfer confirmation in addition to all the security and compliance provided by EVM (Ethereum Virtual Machine).

In the Proof of Meta consensus mechanism, all incoming data is queried instantly. For transactions that interact with the smart contract, the transaction is processed without going through the txpool front layer. (MetaAnthill)

Although TPS is a measure of speed, it may not be correlated with certainty. A chain may have high TPS based on a reasonable description of transactions, but it may take longer to establish certainty based on TPS and TCPS. Transaction Check Per Second (TCPS), on the other hand, checks transactions instantly and declares their preliminary acceptance or rejection. With a brand new approach, MetaChain optimally sustains the factors that other networks today have to sacrifice with scaling solutions, thanks to the MetaMiner, MacroMiner, MicroMiner components that make up the consensus structure and MetaAnthill technology. In the optimal hardware and network topology, block time is <5 seconds and node synchronization is instantaneous. In tests with 19 nodes, it was possible to control and accept more than 700,000 transfers per second. In the calculations, as long as TCP (Transmission Control Protocol) support is provided, it is theoretically possible to reach up to 3.3 million transactions per second.

Mining System

The unique hybrid mining system allows the human factor to directly contribute to the ecosystem and drive it. In this context, mining options are offered with 3 different roles called MetaMiner, MacroMiner, and MicroMiner, each has its own decision-making mechanisms that contribute to the ecosystem.

It provides security by maximizing the blockchain structure to the maximum level of decentralization with MetaMiner, MacroMiner, and MicroMiner. Thanks to its hybrid structure, PoM, unlike other networks, joins the solution to the blockchain trilemma to the participation and direction of all users, and decentralization takes its place at the focal point.

Thanks to the multi-platform supported developments, the advantage of device diversity is provided so that maximum performance can be obtained from all devices, from servers, computers, and mobile devices. As soon as a transaction request comes into the network, the transaction is detected and pre-checked in MetaAnthill on the corresponding node. After the control, synchronization between the nodes is ensured by realizing consensus according to the type of operation. This architecture enables transaction control and acceptance within milliseconds.

MetaMiner: Miners that operate with the MPoS consensus mechanism.

MacroMiner: Miners that operate with the MPoH consensus mechanism.

MicroMiner: Mobile miners that operate with the MPoSW consensus mechanism.

MetaMiner undertakes the task of confirming and archiving the transactions in the block that comes in the formation of the chain structure of the network, as well as the 'Signer', which creates the unchangeable structure of the blocks. The user who wants to take the role of MetaMiner, the highest level stakeholder of Hybrid Mining, stakes a specified number of MTCs and makes the MTC payment in return for the annual rental amount. Then, a ready-to-use node is provided by Metatime and the user who assumes the role of MetaMiner has full control over the node she/he owns. She/he can manage her/his server through the administration panel and can disable the service whenever she/he wants to terminate it.

MacroMiners are miners who undertake the task of expanding the decentralized and distributed structure of MetaChain, checking signatures, controlling and backing up the blockchain, and meeting the hardware needs for integrated ecosystem applications.

Desktop application for MacroMiner; It has been designed in a structure where everyone can easily contribute to the ecosystem and perform mining operations with its easy installation, multi-operating system support, and minimum hardware requirement.

As one of the most important parts of the human-centered blockchain structure, MicroMiner creates a direct connection between the Metatime ecosystem applications and the user, beyond the systemic transfer control task.

Each MicroMiner is positioned as a mobile node. These mobile nodes allow the user to be included in the system. In this fiction; Users who know and understand MetaChain and make social contributions to its vision are kept together and in constant communication. The MicroMiner system undertakes the task of providing social interaction as well as managing the Metatime ecosystem by users. Improvements to MetaChain and other parts of the ecosystem are driven by the votes of MicroMiners. The only thing that the user who wants to be MicroMiner has to do is to download the Metatime mobile application and activate the MicroMiner feature from the relevant panel.