What is MetaCoin?
MetaCoin (MC) is a token released by OpenMetaNetFoundation to motivate users to use MetalD applications and create MetalD transactions. This token does not need to be purchased by users.
Step 1 Have a MetalD
The process is very simple, and it can be done in the following two ways:
1.Visit http://show.sv and download ShowApp
2.Open the app, finish registration by verifying your phone number/email, setting username/password/password hint.
Official website (https://showmoney.app)
Finish registration by verifying your phone number/email, setting username/password/password hint.
The first time you log in, you need to back up the mnemonic phrase and remember the password. The mnemonic phrase is your only credential in the blockchain world and your MetaID account. If you own the mnemonic phrase, you will have the assets on the corresponding address.
For account security, please keep your account password and mnemonic carefully in the offline environment, not in online chat apps, online notebooks, etc. Since ShowApp cannot know and save your account password, once the account is lost, it will not be possible to retrieve the password or restore the account.
Step 2 Create TX
MetaCoin adopts the consensus mechanism of Proof of Transaction Size (PoTS), that is, the larger the transaction volume ratio of effective MetalD transactions created by users through MetalD applications, the higher the allocation ratio of MetaCoin obtained. To put it simply, the higher the cost of using the application, the larger number you will get.
We recommend using ShowApp and ShowBuzz to accumulate MetalD TX miner fees.
Besides, you can also mine through other MetaID Apps like:
The above applications are all built into the application center of ShowApp (https://show.sv), and you can also log in to the corresponding URL and use them on the web.
Step 3 Receive MetaCoin
Log in to the MetalD browser (https://sean.metaid.io) to view your fee percentage and the expected MC in the current MetaBlock. Formula:
The number of MetaCoins that each MetaID user obtains in each MetaBlock is: (Effective MetalD transaction volume created by this MetalD user/total effective MetalD transaction volume of BSV mainnet on that day) * Circulation per MetaBlock
Example: Assuming that the circulation one day is 500,000 MetaCoins, you generated several MetalD transactions through the MetalD application, and the total volume of these transactions is 100KB, while the total volume of effective MetalD transactions on the BSV mainnet on that day is 10MB, the number of MetaCoins that you could obtain on that day is: 500000 * (0.1/10) = 5000 MetaCoins
Usually, MC will be automatically issued on the next day, and the daily amount must be ≥50MC.