Brisbane, Australia, Feb. 18, 2021 (GLOBE NEWSWIRE) — Blockchain technology has revolutionized the financial payment system models. Payments may be transacted between peer-to-peer with security, and transparency over a public ledger without the need of an intermediary (e.g. bank). If the internet creates a blanket of connecting multiple protocols effortlessly between computers. Blockchains are the next step that offers the medium of transacting with confidence in a trustless environment through its network. Our blockchain is unique compared to others, not only in the technological aspects, but more importantly keeping the best interest of our supporters in mind.
As complex as blockchain is, we believe that focusing on the front-end, providing user-friendly products and feasible solutions to our supporters, will further embrace our project to mass adoption. In order to establish this valuable point, we structured our blockchain to be community-driven. Our blockchain runs a governance protocol which allows our community to connect with our blockchain raising proposals to vote that will bring about continuing updates to the project. What better way to engage with our supporters in real-time, always ensuring development as we push the boundaries of the crypto-space maintaining Metrix as a cutting-edge blockchain. Our entire community behind your brand will be a fantastic way to increase your business. Our community is extremely passionate about Metrix and will assist us to grow our brand as well as our partners’ brands.
Let’s start learning more about Metrix Coin (MRX)
A quick technical note about our cryptocurrency and blockchain. It is important to understand that the first blockchain, Bitcoin, code base has been used and modified to create a sea of many blockchain platforms. Our MRX is a proof-of-stake (PoS) cryptocurrency that is powered by Metrix blockchain. The Metrix code base has been adopted from Quantum, thus implementing Bitcoin’s Unspent-Transaction-Outputs (UTXO) that interfaces with Ethereum’s Account Base Model and Ethereum Virtual Machine (EVM) under QTUM’s Account Abstract Layer while under a PoS consensus. The very nature of these protocols, respectively, is to validate transactions. EVM is the next step of thinking to incorporate automated processes within the blockchain via smart-contract applications. PoS is the algorithm that awards nodes a stake reward for validating transactions in the blockchain. We opted to use Quantum’s code base because it harnesses the Bitcoin’s traceability effect intertwined with Ethereum’s smart-contract technology achieving a ‘smart’ financial payment system model. Even though Quantum blockchain has the best of Bitcoin and Etherum, Metrix has plans of including further enhancements to the code base that make it flexible and applicable to multiple use-cases as we will further discuss.
Decentralized Governance Protocol (DGP) and Governor Nodes with Metrix Blockchain
A challenge that has been witnessed time-and-time again in the crypto-space is blockchain ecosystem disruption, or hard-forking and soft-forking to fix security issues, smart-contract issues, and outdated blockchain parameters (block gas limit, block size, gas schedule, etc). Hard-forking is when another blockchain is created from the existing chain, thus allowing two chains. Soft-forking is when only script lines are added to the code base, think of it as an update to the existing blockchain.
One of the fascinating aspects of Metrix Coin is its Decentralized Governance Protocol (DGP) built on smart-contract technology. As the protocol implies, blockchain issues are addressed without the need for disrupting the network with forks by appointing Governor nodes, or Governors, to oversee blockchain changes via the DGP lens. If the existing chain needs an upgrade or an update, DGP and the governor node consensus will mandate to apply necessary changes…
Read More:Metrix Coin Grey Paper