High-performance commercial application common chain METABIT, providing strong infrastructure for Web3 and Metaverse.
Quotation：
Web3 has become one of the hot topics in the past few years. Tencent, Google, Twitter and other traditional Internet giants have announced joining the game. However, from the perspective of reality, there are still great obstacles to realizing the seamless transition from Web2 to Web3. A core reason is that the underlying performance of the current Web3 blockchain network can not support large-scale commercial applications.
Take games as an example, the interaction between players and the system is high, the cost of interaction on Ethereum is too high, it is difficult to expand the commercial scale with a single GAS of more than 10 dollars, and the user experience will also be affected. The operation frequency will be higher as the complexity of the game increases. Ethereum is not able to respond to this kind of demand in a short time, nor to metaverse with more complex.
Therefore, in order to promote the commercial landing of blockchain and carry more business scenarios and wider industry participation, the underlying technology should be easier to govern, more secure, more flexible and scalable, more efficient and easier to use, and more transparent. It is necessary to enhance the scalability of the blockchain system from various dimensions such as network, computing, and storage so that it can support massive scenarios.
In order to solve the above problems, large-scale high-performance commercial public blockchain METABIT arises at the historic moment, which can support large-scale business applications such as decentralized finance, social networking, e-commerce, search, storage, and metaverse in Web3.
Specifically, METABIT applies virtual layering technology, and its unique incentive mechanism enables automatic optimization and reorganization of full-chain resources, dynamic allocation of resources, and cracking the “impossible triangle” of blockchain to achieve performance expansion; In addition, MetdBit transaction engine implements a framework for parallel execution of transactions, so that transactions in the same block can be executed in parallel batches with a TPS up to 70000 which is higher than that of Ethereum that enables METABIT to work for all kinds of commercial scenarios. METABIT protects privacy, realizes the basic construction and module of information isolation, and ensures the timeliness, confidentiality, and verifiability of information based on zero-knowledge proofs; More importantly, METABIT greatly reduces the transaction cost and is compatible with EVM, so developers can easily achieve the migration and deployment of Ethereum DApp.
Currently, METABIT ecology is growing fast with 150,000 community users and hundreds of Web3 migration projects, including Wallet, NFT, GameFi, DEX, DAO, and so on. METABIT has become a discovery tool, efficiency tool, innovation tool, and financial tool to achieve digital transformation for the new generations.
1. METABIT virtual layering to crack the “impossible triangle” of the blockchain.
The impossible triangle (also known as the “ternary paradox”) has been an unavoidable problem for blockchain since it was born.
As a leader of Layer1 track, METABIT virtual layering not only has the advantages of the above expansion schemes, but also creatively puts forward the concept of dynamic allocation of resources. its key point is that on the unified physical node network of blockchain, various types of application systems, and even a single application system itself, can be self-organized into a virtual blockchain system, embodied in consensus nodes and transaction processing. Storage requirements and network bandwidth are flexibly self-organized.
METABIT believes that the driving force of self-organization comes from all kinds of METABIT ecology themselves. When the transactions rise, the corresponding resource requirements also rise synchronously, and the incentive mechanism of METABIT network will make the automatic optimization and reorganization of full-chain resources. The effect is that the whole network dynamically allocates resources in different METABIT ecology spontaneously, and increases the resources of the whole network synchronously with the expansion of METABIT ecology. METABIT also uses the original MPOAS consensus mechanism, which can completely avoid 51% consensus attacks for newly added verifiers. METABIT has the same high security as the main network of Ethereum by being connected to Ethereum ecology.
The tiering scheme proposed by METABIT is much more convenient and easier than the slicing scheme in implementation in terms of solving the scalability problem and the security and dispersion can be ensured with the help of the main network; METABIT’s scheme can greatly reduce the GAS cost of trading on the chain (compared with the GAS cost of Ethereum by 90%) that greatly promotes NFT casting, trading, pledge, and other chain activities. Generally speaking, METABIT’s solution is the most effective solution to solve the blockchain performance for large-scale commercial use.
2. METABIT: multi-chain contract-level interoperability high-performance chain group compatible with EVM.
The goal of METABIT is to achieve high-performance chain groups of multi-chain contract-level interoperability in the EVM ecology, to create a blockchain ecological platform with high data availability, a strong execution layer, and security, and to improve the performance of blockchain infrastructure. Developers are free to create complex decentralized applications in various scenarios while giving users an experience similar to Web2 applications.
METABIT adopts a three-tier architecture mechanism in its architecture:
1) data layer: METABIT code and contract are lightweight with unlimited expansion;
2) network layer: BDN neutral distribution network, virtual slicing, compression transaction;
3) consensus layer: VRF, VDF self-election, rapid consensus, confirmation within seconds.
It needs to be emphasized that METABIT uses the directed acyclic graph structure in the process of dealing with transactions and designs a parallel transaction executor (PTE, Parallel Transaction Executor) based on DAG model. PTE can give full play to the advantages of multi-core processors so that transactions in blocks can be executed in parallel as much as possible. At the same time, it provides a simple and friendly programming interface for users, so that users do not have to care about the tedious details of parallel implementation. Moreover, the transactions within the blocks are not repeated, and there is no process of pre-execution, pre-analysis, or retry, which is more efficient. The specific operations are as follows:
1) The user initiates the transaction directly or indirectly through SDK.
2) The transaction is then synchronized between nodes, and the node with the packing right invokes the baler (Sealer) to extract a certain amount of transaction from (TxPool) and package it into a block. After that, the block is sent to the consensus unit (Consensus) to prepare for inter-node consensus.
3) Transaction validation needs to be performed before a consensus can be reached, and this is the beginning of PTE’s work.
4) After the block verification is passed, the block is chained. After the completion of the transaction, if the status of each node is the same, a consensus will be reached. The block is then written to the underlying storage (Storage) and is permanently recorded on the blockchain.
METABIT’s scheme implements an efficient and automatic parallel transaction scheduling strategy other than parallel execution mechanisms, which not only maximizes transaction execution performance but also reduces the development threshold of parallel contracts.
In addition, each functional part of the METABIT network is completely modular, realizing a high degree of aggregation of the functional set. At the same time, the modular architecture of the communication interaction interface between function sets improves the iterative security of the system, ensures the security and reliability of operation, and better realizes the backward compatibility of the version.
METABIT is compatible with EVM, the largest blockchain network. The original Dapp based on Ethereum can be seamlessly migrated to METABIT Chain at a low cost. METABIT will also provide migration incentives and free technical docking. Considering that the limitations of the solidity programming language limit mainstream developers’ entry into the encryption market, METABIT also supports more mainstream and powerful general-purpose programming languages and more complex blockchain programming logic.
Another outstanding technical advantage of METABIT is its top security and privacy as tracking algorithms are studied, anti-quantum algorithms are introduced, and account switching is provided synchronously.
3.Application of Zero-knowledge proof ZK Rollups in METABIT.
METABIT is based on one of the Zero-knowledge proof Technology solutions, the zkSNARK, a kind of encryption proof that the file is small and easy to verify, and simplicity lies in non-interactive. Specifically, the application of ZK Rollups in METABIT is reflected in the following aspects:
1) Computing outsourcing. the computing power of each node is limited in the blockchain. With the help of ZKP technology, METABIT nodes can outsource a large amount of computing to the nodes under the chain. At this time, we only need to verify the calculation results and calculation proof submitted by the outsourcing to know whether the calculation is correct.
2) Data compression. In many high-speed blockchain systems, the transaction data is very large, and the system needs to retain all blocks for consensus protocol verification, so the system has a very high requirement for hardware. permanent storage means that blockchain nodes will need to increase disk space and data indexing capabilities. At this time, the verification data can be compressed with the help of ZKP. METABIT can compress the account book to 11 KB through recursive zero-knowledge proof.
3) Privacy certificate. METABIT applies ZKP to token transfer, which makes the information of the transaction completely confidential but can be verified by the nodes on the blockchain at the same time.
4) Bridge. METABIT can rely on ZKP-driven cross-chain communication because ZKP provides concise proof that it consumes less storage and relays the state of the source chain to the target chain. In addition, it is relatively cheap to validate SNARK on the target chain. These two important features of ZKP enable low-cost cross-chain message and state delivery. Verifying the source chain state on the target chain can achieve IBC-style cross-chain bridging. This greatly increases cross-chain security.
4.Latest tokenomics with flywheel effect
METABIT Foundation is committed to enabling METABIT with national consensus, DAO, supporting builders in various areas, and bringing vitality to the ecology. The ecological token BMTC plays a decisive role.
1) BMTC is the basis of METABIT intra-ecological as GAS fees.
2) BMTC token holders can submit proposals, modify parameters, increase or reduce mining incentives, and so on. All METABIT activities will be decided by the token holder vote.
3) BMTC will also be used in scenarios such as pledged mining and mobile mining in the ecosystem.
There are 1 billion BMTC of which 10 percent is for Dev team, which is the lowest proportion of retention in the mainstream blockchain; 12 percent for the foundation, which is mainly used to support ecological projects and increase the ecological value of METABIT; 10 percent for financing, including seed round (2 percent), institutional round (7 percent) and IDO (1 percent). All three parts of tokens are locked up from 6 months to 34 months.
the rest 68% of the total BMTC will be used for ecological and one of the important directions is node mining under BFT consensus algorithm, a verification network based on PoS is constructed. 340 million for mining nodes and 340 million for mobile phone mining. BMTC Halves every 4 years.
The main features are as follows: based on token mortgage, all verification nodes are verifiable; the whole society supervises and implements the reporting punishment mechanism; the verification network is open to small authorization and independent verification nodes.
Specifically, the METABIT node model builds a pledge reward model through a strong invitation-binding relationship, which divides users into light node verifiers and authorized pledgees. The holder of the light node needs to purchase the light node with 1000 BMTC, and at the same time pay the annual management fee to maintain the normal operation and network security of the node. The node-authorized mortgagee needs to pay a commission to the holder of the light node, and the node holder can charge a commission ranging from 0% to 5%, which can be deducted from the mining reward. Light node has many benefits: including personal pledge rewards, inviting rewards, gas fee income, management fee rebates, and so on. The total number of METABIT nodes is 50000 with an early release of 15000.
Users can stake from 10BMTC to 999BMMC to enjoy APR from 100% to 200% and unstake any time.
5.METABIT teams
Professor Fadi Yamout, an expert in information technology, database, data structure, algorithm retrieval, robot learning, and data mining, graduated from a famous university in the United States, Ph. D. in computer science from the University of Sunderland, UK, and dean of the School of Computer Science and IT, Lebanon International University. He has served as the head of the committee of the Rockengu Cisco support and training Center in France, the director of the Canadian Institute of Digital Money, the head of the Computer Science Committee of the International University of Lebanon, and the platform expert of the European Union Innovation and Entrepreneurship Center (IEC) of RAISD.
METABIT CTO Jason Zhao:17 has years of industry experience as a senior software engineer and technical director, has worked for Google and Amazon, and served as the technical director of several projects, proficient in full-stack development, smart contracts, blockchain underlying technology, and business applications.
Alia Ghaddar, METABIT technical expert: Ph. D. in computer science, University of Lille, France. Proficient in distributed operating system, algorithm design and analysis, data aggregation and fusion, video compression, coverage maximization, data mining, and knowledge discovery, including data communication in wireless sensor and actuator networks, Internet, Internet of things, etc. Dozens of academic papers have been published in France, the United States, Spain, and China, often as topics in academic conferences.
METABIT technical expert Alia Ghaddar: Ph. D. in computer science, University of Lille, France. Proficient in distributed operating system, algorithm design and analysis, data aggregation and fusion, video compression, coverage maximization, data mining, and knowledge discovery, including data communication in wireless sensor and actuator networks, Internet, Internet of things, etc. He has published dozens of academic papers in France, the United States, Spain, and China, and often gives keynote speeches at academic conferences.
6.Conclusion: the mainnet will be launched in early April.
METABIT proposed to implement the “five-step” strategy in Feb 2023, which will gradually improve the basic configuration of Commons 1.0 through continuous iterative development,
1) contract upgrade, micro-service construction, data security development, main network pledge logic and UI, node economic model
2) node development, consensus protocol, economic model development, test network security deployment
3) wallet optimization, block browser optimization, service layer optimization, contract security testing
4) background management upgrade, data monitoring panel, node operation management, recommended model monitoring
5) the main network launch, user assets migration, token mapping, IDO, and listing in CEX in April
As a public blockchain of high performance for business applications, METABIT has become a new generation of discovery tools, efficiency tools, innovative tools, and financial tools to achieve digital transformation.
