Today we are celebrating one of the most exciting events for #MetaHash as we are launching Forging. After two and a half months of testing, we are finally releasing one of the project’s basis, its economic and operational supporting system.
As a self-financing network, #MetaHash features a healthy economy which is built on #MetaHashCoin, a digital payment currency and key economic and functional asset of the system. Every #MHC holder contributes into system’s functioning and earns daily rewards through Forging, as well as owns the right to initiate or take part in Voting thus managing the existence and further development of the whole network.
Forging is the evolutionary form of mining and a new concept of protecting the network consensus based on proof of stake rather than proof of work. Featuring such indisputable advantages as scalability, speed, considerably lower hardware requirements and expenses, and attractively higher and more fair rewards, Forging is now considered as the most effective approach capable to push blockchains for massive adoption. In #MetaHash 50 percent of all rewards for forging are distributed among the #MHC owners, 40 percent are granted to the nodes’ owners and the remaining 10 percent are earmarked for rewarding the active users of the #MetaGate browser and #MetaWallet. Coin holders can also entrust their voting rights to their own nodes or may pass their voting rights to a trusted node operator for a share of the commission.
How to earn #MetaHash coins with forging?
You need 100 #MHC to start forging.
To receive the reward #MetaGate has to be online at least 4 hours.
If you have more than 100 #MHC you can delegate them to a Node you like.
You can earn rewards by delegating coins to one of the nodes.
Anybody can set up a node, join the network and earn rewards for it.
During the first phase of decentralization, the limit that can be delegated to one Peer Node is increased to 10 000 000 #MHC. This limit will be decreased to the planned limit as new roles appear and the network gets bigger.