What problem does Metabase solve? (or: what human need does it satisfy?) and how exactly does it do so?
Metabase is a scalable blockchain and smart opcodes platform for building next-generation businesses.
How is the idea monetized? How do the token holders profit?
Miners get rewarded META for their efforts
Concept development and research
Primary research on the limits and pain points of existing public blockchain protocols.
Scaling blockchains exponentially.
Advancing Blockchain based virtual machines.
Crypto-economic modeling to handle exponential scaling.
Defining a blockchain based Governance system.
Blockchain based identity sub-system.
Our focus during this period was to consolidate our research and turn this into a comprehensive position paper and technical white paper.
Token sale development
Our token sale economics is designed and drafted. with our token sale, we defined our pricing model for our Pre-sale and Main-sale. We finalised token issuance mechanics, the miner rewards, and total token supply over time.
Blockchain system, utility design & development
Identification of base cryptographic algorithms to be utilized for the protocol.
Define standard structure for address, transaction, and blocks.
Develop storage and search methods for transaction and blocks, as a library across one / multiple languages and frameworks.
Define standards for HD wallets schematics.
Core Blockchain development
The codeding the protocol base node. The node implementation is ideally done in one language and replication of the same is done over other commonly used languages.
Develop the protocol's base node in at least 2 implementations.
Each Node must adhere to scalability based on chain splitting and controlled forking.
We will develop the node to incorporate our governance framework.
Each node will incorporate our monetary policy and crypto-economics
principles defined in the token sale model.
Each node will follow the dual consensus logic of Proof of work and DPoS for Mining / Validation processes.
the node, at it's base, will provide for user account management system along with secured storage.
Governance framework development
Develop a Subchain based on DPoS for governance framework
Identification of all axioms to be included in Metabase axiom table and governed by Governance process
Development of monetary policy functions
Defining limits for economic governance by virtue of Governance framework
Utilizing the power of controlled forking to enable chain splits
Governance process to also define the basic, and open OpCodes, and its subsequent definitions, such that any addition or alteration to the base opcodes can only be done by the protocol's governance process
Upon development of base blockchain nodes and client a testnet would be launched by Jan 2019 which demonstrates all the basic utility of proposed by metabase blockchain and its associated governance framework.
The Metabase virtual machine will be integrated to the governance framework. The base functional requirement to develop MVM are as follows:
The Primary goal of MVM is to enable a framework which takes the current structure of smart contracts to a more advanced level of capabilities and security
Designing the base Virtual machine so that it enables, and can accomadate Augmented OpCode
The implementation of the MVM will be modular and portable across various implementations
MVM will have a base opcode code set and augmented. opcode logic can be derived using base opcode definitions and computed smoothly
Costing dynamics for base opcode and augmented opcodes will be defined.
MVM will be linked to the governance framework so that the base opcodes or Augmented opcodes are directly incorporated by all the nodes on the network
Security testing of MVM will be done at this phase as this is a piece of code which remains static
MVM should enable dynamic state transition across chains in order to meet address state transition over scaled blockchains
MVM must not allow deletion or edits to existing opcodes
Define mechanics to design, develop and test newly created opcodes
Base security principles required to develop / define new opcodes and instruction sets needs to be put forth and all opcodes defined must adhere to these rule sets
Augmented code based Compiler and dynamic Higher level programming language
Designing the augmented OpCode based compiler is a real challenge as the Opcodes can be dynamically added by the users and the compiler is expected to adapt to newly added opcodes. For Successful development of compiler the following is required.
Designing a compiler which adheres to dynamic opcodes
The compiler in conjunction with MVM should enable facility to create smart contracts
The Ideal situation, regarding the complexity of the system, is to develop only one compiler based on community interest, however multiple compiler development can be and option
There should be communication mechanics between the compiler and the MVM which defines the list of opcodes openly available for compiler use.
The compiler must always rely on trusted opcode agreed and trusted by all the nodes
Ray and Spectrum networks
The ray and spectrum networks enable instant P2P transaction using off chain mechanics. Ray networks are used to transfer value while Spectrum networks are utilized to enable P2P off-chain transactions for smart contracts. The following are our requirements
Ray network must enable P2P off-chain transaction but not be limited to one channel. each user must be able to create multiple channels for off chain transactions, with the base limits for each off-chain transaction to communicate with the main chain after a defined number of transaction. These transaction limits will be defined by the protocol's governance mechanism
The Ray network must be dynamic, where in each transaction is self sustained with limits defined and agreed by the system.
Each Individual ray network must start from its anchor point in main chain, and resolve with main chain after a defined number of transactions, specified by the network
Identity Systems are crucial for next generation of blockchain. this is a crucial area to develop. Most public blockchains, identity systems are an externality. We intend to create a identity system which is internal to the system.
incorporating the protocol's base structure, the VM and our proposed governance system will be used to develop and enable an inclusive identity sub-system
The identity subsystem is non enforcing in nature, but will be developed to be a default feature
Tools design and development
During this phase the tools are designed which ensure that normal user can also interface with the metabase. The tools must have following characteristics:
All tools wil be easy to use and designed for beginners in blockchain development
Tools will include native cryptocurrency wallets, mobile wallets and interface libraries to interact and develop applications
Our tolls will be designed to enable users to create compilers which is easy to use and operate for applications on our protocol
The toolset will be developed for the Metabase. Our tools will not be limited to the developer community, but will extend to the miners on the network.
Mining ecosystem development
Develop mining software for pooled mining
Developing mining software for GPU
Setting up and helping community set up mining nodes
0.06 USD = 1 META
ETH, BTC, USD
Questions & Answers
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