Metabase ICO Review: A Scalable Blockchain Platform
Overall Project Rating
Blockchain has revolutionized the digital currency today and it has a great impact on our present economy. Blockchain is not only been adopted by business organizations or industry experts, but it is also now accepted in many parts of the government sector as well. People and big organizations were earlier sceptical about the usage and risk factor involved in Blockchain technology. But now, even normal individuals who do not know much about the digital market are coming forward and want to invest into the ecosystem due to its many known benefits.
Blockchain has touched our lives in many ways and thanks to the hard-working teams of developers and creators who work incessantly in designing the best possible ecosystems for us. So far, Bitcoin and Ethereum has been the earliest and predominantly the most widely used Blockchains in the market over the years. But now due to popularity and mass adoption of Blockchains, more and more developers are coming forward with new Blockchain platforms every year. The Ethereum platform has been the fundamental base and many new Blockchains has been built on that concept. But as more players are coming into the market, there has been several issues and drawbacks that need to be addressed and looked into.
Problems of First-Generation Blockchains
- Scalability has been a major problem for many years which often hinders the adoption of Blockchain in large scale. In case of Bitcoin, the transaction fees are relatively high and in Ethereum the transaction per second or TPS is slow.
- The first-generation blockchains are based on a basic programming software. It often limits the functioning of the ecosystem mostly in the application part. More upgradation and futuristic application of programming of the platforms are needed.
- So far, Bitcoin and Ethereum has been the most secured blockchains till date and we rarely hear about any security breach or infiltration incidents. But, in Ethereum blockchain, there has been an incident of the DAO attack which has made quite an impact and have questioned the security issue of the blockchain community. The traditional security tools are very basic and often need help from third parties to operate. It often can cause serious security breach and needs to be handled with utmost care. More recent and upgraded security protocols need to be implemented to cope up with the new generation needs.
- The earlier blockchains did not take into account the governance protocol and has been operating as decentralized units for many years. The government needs to be included for smooth functioning of blockchains in the present economic scenario.
- Ethereum based smart contracts which is a significant feature of the blockchain technology, often has been subject to security issues and programming limitations.
Metabase: The Solution
The first-generation blockchains has really been the foundation for many blockchains operating so far. It has really been instrumental in building and designing the future blockchains and still is a breakthrough invention in the digital economy and has laid down the bricks for future blockchains yet to be designed.
Metabase is a Blockchain Toolbox that allows its users to ask questions regarding their data and answers them in specific formats like a bar graph or a table with details. Users can ask questions and can also save them as well for later referral. They can also group them in dashboards and share them with the team. Metabase will be available both as a web browser as well as a mobile application. The ecosystem will provide high-level programming applications for end users and low-level programming languages for organizations. Metacoin is the official token of Metabase. But to pay transaction fees, users first have to convert Metacoin into Metabit tokens. However, Metacoin can be traded in exchanges and also will be issued in ICOs.
- Metabase is a highly scalable platform that will provide extensive adoption of blockchain both through high-level technical adoption and economic adoption of policies by incorporating and including government mechanisms as well.
- A very simple interface with extensive tools and libraries for users.
- Metabase will be using Split Chains, Priority Pools and Ray Networks concepts in its ecosystem. These tools will automatically speed up the transactions and also increase the transaction capacity.
- A PoW or Proof of Work consensus mechanism is used very similar to that of Bitcoin.
- An upgraded version of Ethereum smart contracts will be used in the system.
- Metabase will enable augmentation of the OpCode space or expansion of the operational code of the blockchain which will produce a far more superior ecosystem.
- Metabase will include the governance protocol into the ecosystem.
- Special security features to protect the smart contracts. Verification tools like Securify to see that the smart contracts are working properly. Code analyzers like Mythril, Oyente etc to verify all codes in the developmental stage. Manual validation processes done by real people before launching a new project.
- Metabase IDE will verify and fix the problems of the smart contracts. There are tools which will specify the common problems of smart contracts like re-entry or overflow problems. This is available as a simple plug-in tool and can be used in the development stage itself.
- Metabase will be launching its OpCode marketplace which will give an opportunity to its developers to earn through the platform.
- Metabase users can download its mobile wallet and start using it right away without downloading any other application or software.
- Metabase will also be launching a browser extension which will allow its users to browse all products and services safely and securely without downloading the entire blockchain.
MetaBase ICO Information
- Token: META
- Price: 1 META = 0.02 USD
- Accepting: USD, ETH
- Minimum investment: 100 USD
- Soft cap: 624,000 USD
- Hard cap: 41,840,000 USD
Metabase is the pioneering effort of a group of extremely talented developers, engineers and scientists who aims to build a modern-day blockchain technology that will not only be scalable and secure but will also be adopted and be useful in the present day scenario.