Why Meter is Different than Other Stablecoins
With the recent shutdown of the Basis stablecoin, many people have asked us how are we different from other stable cryptocurrency projects out there and how we will stand out in the crowded market.
In response to this, we created our most recent tagline which describes how we differentiate in comparison with other players:
WE ARE METER: THE FIRST UNCENSORABLE MONEY THAT IS FAST AND STABLE IN VALUE
Our view is that in the future, Meter will be to money what the watt is to electricity, the hour is to time, and the degree is to temperature — a standard unit of measurement.
The key aspects of Meter include:
- Inflation resistant yet elastic to changes in economy without oracles
- Permissionless yet high performance
- Instant finality and irreversible transaction records
- Financial infrastructure that functions as a side chain to all public chains
Our technology uses a hybrid consensus model which combines the benefits of both Proof of Work (PoW) and Proof of Stake (PoS). These benefits include:
- Sovereign-grade censorship resistance — A highly decentralized network of block producers provides resilience to major network partitions.
- Randomized, fast Byzantine Agreement — Thousands of transactions per second are possible on the main chain without sharding; scalable to unlimited transactions per second with sidechains and sharding.
- Separation of currency creation with banking/accounting — Correct alignment of incentives for miners, developers, and stakeholders, and increased efficiency and security.
- Environmental friendliness — Mining cost comparable to the combined budget of the US Mint and US Bureau of Engraving and Printing for an economy similar to the US.
We hope you’ll stick around to learn more how we are changing what money looks like.