META 1 Platform Supports Other Major Cryptocurrencies for Expanded Trading
BOCA RATON, FL, November 09, 2020 /Neptune100/ — The leadership team at META 1 Coin Trust, including Robert P. Dunlap and Nicole Bowdler, have just announced the launch of META Exchange, a multi-cryptocurrency trading platform which also supports advanced blockchain technologies.
According to Robert P. Dunlap, “The lightning fast speed of transactions and secure infrastructure of META Exchange provide an ideal trading platform that is intuitive for newcomers and long-time crypto coin holders alike.”
META Exchange is a Decentralized Asset Exchange that is a high-speed and fluid trading platform. Gold-backed META 1 Coin is the default currency of the META Exchange.
In addition to being decentralized, META Exchange provides a high-performance experience with a professional trading platform. It can handle the trading volume of the NASDAQ while settling orders instantly. META Exchange is a full-service platform providing the ability to purchase and sell major crypto and fiat currencies. The Exchange is integrated with the gateways of all major crypto markets including Bitcoin, Ethereum, Lite Coin, EOS and many others to instill market liquidity.
META Exchange can be used by anyone wishing to trade one digital asset for any other. The Exchange includes charts, a trading interface for buying and selling, and an intuitive dashboard to see account information. Also, the Exchange has explorer functionality providing real-time transaction data.
The Exchange also provides the necessary support modules for META Trader 5, a powerful platform for Forex and Exchange markets. This enables other trading platforms to operate on the META Exchange.
META Exchange account holders have access to the META Card, which functions as a typical debit card. Account holders can exchange cryptocurrencies to US Dollars and/or Euros in real-time to make non-crypto purchases. This provides immediate liquidity for major currencies. Account holders also have access to a secure application for smartphones that ensures use of funds in a dynamic fiat-crypto multi-currency economy.
META Exchange interfaces with the Satoshi-based blockchain and consensus algorithm known as Delegated Proof of Stake (DPoS), which is a newer method of securing a cryptocurrency’s network. DPoS attempts to solve the problems of Bitcoin’s traditional Proof of Work (PoW) system, as well as the Proof of Stake (PoS) systems of Peercoin and NXT.
PoW is secured by what is classically known as a Byzantine Fault Tolerance. This characteristic signifies that a system can withstand any and all attempts at failures, even by brute force of bad actors conspiring to take down a system. It is a model used in the production of airplane engine systems, nuclear power plants and any other critical systems that depend on many inputs to ensure stability.
While the PoW system supports a secure network, it requires significant resources to maintain. Each cryptocurrency miner has an incentive to participate in validating transactions since the network rewards each one with a small cryptocurrency cash payment each time it correctly validates blockchain transactions. However, many miners are needed to make this system work and each miner uses major computer processing power to solve complex math problems while validating data blocks. Having so many high-performance computer systems working constantly takes a major toll on the environment.
And so, the PoS system was developed to maintain and expand the level of security of PoW, with greater efficiency. In PoS, there are no miners. Rather, node participants place cryptocurrency funds in a holding account known as a wallet through a process called staking. Locking cryptocurrency in a wallet for staking allows one to be randomly selected by the network to validate transactions.
The network also pays an incentive for each validated transaction. The more coins one stakes in a wallet, the higher the chances of being randomly selected. This is a much less resource intensive process, since participants do not validate blocks based on their systems solving hash challenges. Instead, the blocks are validated by staking coins they are holding. So, no advanced environment-crushing computers are needed to sustain this system.
It is also even more secure than PoW, since participants who stake their coins can risk losing substantial amounts of their own money if they try to hack the system. The incentive to do good is therefore stronger than in the PoW system.
DPoS is an alternative version of PoS. DPoS enables participants to use their staked coins as votes to elect delegates, also known as witnesses, who validate transactions and secure the network on behalf of the staked coin holders. The more coins one has staked, the greater the voting power. The rewards received by witnesses are shared with their respective electors, so there is mutual reward for participating.
The voting system depends on the witnesses’ reputations. If a witness attempts to do something improper to compromise the network, then that witness is immediately expelled from the network and a replacement is automatically put in place. Besides being more technologically democratic with its voting system and delegates, DPoS is also much faster in terms of transactions per second than PoS, and certainly much faster than PoW systems.
Security is also enhanced with the additional layer of delegates or witnesses. This improved security, combined with higher performance and cost efficiency of maintaining the network are what make DPoS a superior system, and why META 1 Coin and META Exchange interface on a DPoS network.
About META 1 Coin Trust:
META 1 is an asset-backed cryptocurrency founded by crypto visionary Robert P. Dunlap with the intention of promoting the concepts of abundance and equity in the service of humanity. As part of its mission, META 1 actively advances human rights causes and promotes civil liberties.
For more information about META 1 Coin Trust, visit: meta1.io