Metahash Review — High Throughput Blockchain with Complex Architecture
High throughput blockchain (80k TPS per node, aiming for 5bn/day aka 58k TPS network wide, 3s block time) with smart contracts programmable in C++, PHP, Solidity & others and anchoring to Bitcoin and Ethereum.
It promises a lot of buzzword features: high TPS, low latency, interoperability with other blockchains, a wallet that holds multiple types of coins, an exchange and that any program, written in any language, can become a decentralized app.

Components:
- Tracechain — blockchain with a tiered node ranking, with core powerful servers and edge PCs, smartphones. Local consensus is achieved between small nodes; core nodes validate and propagate, tiered as follows:
- Master Nodes Master / Slave
- MetaApps nodes
- Verification nodes
- Torrent nodes / Backup nodes
- Light Wallet / Proxy nodes
- MetaApps — programmable in C++, PHP, Solidity, others, executed in the network by MetaApps nodes. Notable, #MetaStorage — store data in MetaHash network; MetaChains — links to major blockchains to get info via APIs — to be developed by team
- MetaGate is a browser that serves as an interface to the wallet and dApps
Forging: new coins are minted and distributed as follows: 50% proportionally to coin owners, 40% to nodes, 10% to random wallets, chances proportional to held amount. 30% of tokens will be pre-issued, then gradually released in decreasing amounts, from 10% in Y1 to 4% in Y10.
What I like:
- High throughput blockchain with dapps, masternodes, interoperability with other chains
- Strong marketing, Ian Balina onboarded as well, large budget for future marketing activities
- A form of the wallet and test network is live already
What I dislike:
- Very complex architecture, tries to achieve too many things at once — high speed, interoperability, programming language agnostic
- Advised by Brock Pierce, bombastic marketing — blockchain 4.0, 5 billion transactions, etc
- Adding up the two above, without anything to show except a wallet, equals cash grab
Overall, I don’t like it. The tech described in the whitepaper is very complex and has highly ambitious goals: high throughput, fast block times, interchain operability, all to be achieved via a complicated network of nodes with different roles. At its core, Master & Slave nodes that seemingly replicate the block producers model of EOS.
I hold Russian developers in high regard so I am looking forward to seeing a code review. However, I definitely don’t see this project being successful long term. It is yet another high performance blockchain, with no partners other than the Adnow network, drowning in competition, with tech that remains to be proven. It’s being picked up by Ian Balina so hype is increasing, but the fundamentals don’t change because of that.
Rating: 65/100
