Comparison with other Blockchain systems: part 2. #MetaHash vs Ethereum
Today we want to discuss such an interesting Blockchain project as Ethereum. Almost every person interested in cryptocurrencies is aware of its advantages. And what about its limitations? How #MetaHash is going to surpass it?
Ethereum is a well elaborated and powerful system, which popularity has recently increased significantly. However, the strong disadvantage of this network is the very low speed provoked by the direct synchronization of many participants and the low bandwidth of many PoW nodes. Smart Contracts present a particular value of this system, but, unfortunately, they can react to operations conducted only on the Ethereum network and they cannot cope with real time applications. The technology underlying the #MetaHash project allows you to instantly process huge amounts of information, which allows all network members to work in absolute synchronization in real time.
An actual solution for increasing the network performance of Ethereum was implemented in Ethereum Plasma. Transactions of tokens and application data are carried out according to the principle of PoS-consensus (Proof-of-Stake) with the anchors in the main Ethereum chain, stayed on PoW (Proof of Work). Such an approach significantly improves the performance of Smart Contracts, but the speed of the main network remains the same low, the wallet is still not applicable because of very long downloads (up to several days) of blocks and the enormous volume of the current chain. For comparison, the transaction confirmation rate in Ethereum is 15 seconds, while #MetaHash accelerates it to 3 seconds. The difference in the amount of transactions processed per second is also illustrative: up to 30 transactions in Ethereum and from 50,000 to millions in #MetaHash.
We believe that the existing blockchain projects don’t meet the needs of a modern user. Developing #MetaHash, we tried to take into account all the pros and cons of the strongest blockchain systems, of our potential competitors and our prospective partners, in order to create a relevant and useful product for you that has no analogues in any market in the world.
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