Metabase Network Upgrades PoW Consensus Mechanism and Introduces Heterogeneous Cross-chain Protocols to Create a Metaverse Platform
Place/Date: - January 7th, 2022 at 12:31 pm UTC · 5 min read
Source: Metabase Network
Metabase Network is a public chain designed for the data aggregation of Metaverse. By the upgrades of the PoW consensus mechanism, it can realize an ultra-high TPS of PoW. Besides, it introduces ‘cross-chain protocol’ to allow the cross-chain operation of all chains under the same protocol and VM mechanism of the same data model.
Metabase Network provides a platform for the Metaverse ecosystem to allow everything in the ecosystem such as DeFi, NFT, DApp wallet, decentralized exchanges, etc to be deployed on it. The data aggregation chain allows multiple Metaverse projects data to run independently on it and apply their logic on-chain through VM, which allows the complex Metaverse logic to run safely in Metabase Network.
To facilitate all users to access Metabase more easily, Metabase Network provides SDK-similar toolkits and modular Metaverse Demo facilities for developers. The internal smart contract can directly support the complex logic operation of Metaverse, the chain operation of this business model, and the operation of the financial core business logic. The personalized business scenarios can be customized through parallel chain applications.
Currently, Metaverse is applied in Blockchain in the form of game, NFT, VR in a way which is lack consistency. Metabase Network aims to build an all-inclusive combination of VR, AI, BlockChain, big data, 5G communication, wearable equipment, etc. Therefore, it contains all basic elements of Metaverse: Identity, friends, sense of immersion, low latency, diversification, anytime and anywhere, to build a new digital world, which the residence will blur the boundary of reality and virtual world.
Metabase Network ecological application:
Metaverse: As the infrastructure of Metaverse, building a friendly and convenient Metaverse development infrastructure is an essential part of Metabase Network ecology. Through the upgrades of PoW and the introduction of ‘cross-chain protocol’ Metabase Network allows multiple Metaverses to operate in Metabase Network chain without latency. The SDK-similar toolkits and modular Metaverse Demo facilitate the deployment of Metaverses, therefore enriching the ecological system.
New financial payment system: The completely open and trustless features of Blockchain allow the achievement of rapid and safe payment and will be an important part of the Metabase Network.
DeFi: Decentralized Finance as an emerging financial tool allow users to get financial service without central platform but smart contracts. This great innovation plays an important role in Metabase Network. Moreover, the problem of high gas fees in the Ethereum network will be solved by the bridging technology in Metabase Network.
Wallets: The developer community will construct an easy-to-use wallet mobile application program based on the seamless connection from DApp to the browser. Users can interact with DApp on browser and more future equipment, and safely keep its secret key in a mobile wallet.
Decentralized exchange: Due to the inherent cross-chain ability, Metabase Network allows users to create a decentralized exchange easily.
Blockchain game: The game industry can be realized in Metabase Network through NFT as game assets, token settlement.
NFT forging: NFT is the unique and non-interchangeable assets built on-chain. NFT is creating interesting cases in the digital arts, collections, ticket services, games, digital ownership, etc. Every NFT owns its own trackable and immutable unique properties. NFT artists can directly sell their works to collectors. The platform can also set up the function that the loyalties are collected in the future resale event. The ownership certificate is easily verified to record the ownership, domain name and other assets.
Electronic voting: Metabase Network will introduce a voting system powered by blockchain technology into the Metaverse governance. Voters’ privacy will be effectively protected, and the maximum transparent & non-manipulate voting process provides an essential tool for community governance.
Community currency: The community integration currency (CIC) belongs to the local currency and service used to pay commodities. CIC can’t replace the national currency, it’s the supplementary currency used to support the local trade. CIC provides the media of daily expenditure and trade and allows saving the interaction currency(maybe volatile or scarce) of citizens and large-scale enterprises, and the government authority except for direct community. CIC supports and empowers the community creation work to develop a social plan, and supports trade infrastructures by establishing decentralized local bank businesses.
Metabase Network Governance
The team will ensure the release and development of the ecological application till the establishment of Metabase Network community, which is enough for the completely decentralized self-maintenance. DAO government of Metabase Network ecology adopts the token incentive mechanism. The token will be used as the value storage carrier to capture and solidify the ever-increasing value of the protocol network.
All decisions in Metabase Network are based on the public voting of the token holder, all technology updates are announced by the community. Such a completely decentralized management system will completely avoid centralized management malpractice of traditional institutions, which provides trustless risk solutions for the dictatorship of centralized management layer, data tampering, alone decision of platform trend, etc.
Metabase Network plans to launch its Mainnet on 2nd March 2022.