AMA (Ask Me Anything) with Gleb Nikitin on Crypto Challengers
Date: 27th of August 2021 at 2 PM (UTC)

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AMA Segments

• B𝗮𝘀𝗶𝗰 𝗜𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝗼𝗻 𝗦𝗲𝗴𝗺𝗲𝗻𝘁
• Twitter Questions
• Live Q&A
• Wrap up, final words

1. B𝗮𝘀𝗶𝗰 𝗜𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝗼𝗻 𝗦𝗲𝗴𝗺𝗲𝗻𝘁

Written by Gleb Nikitin, Tech Lead and Co-founder of MetaHash

Question: Could you Guys please provide a quick self-introduction for the community?

Answer by Gleb: I am one of the co-founders of MetaHash. Before MetaHash I was building complex advertising systems that worked under high load and I thought it would be great to keep the basics of blockchains but add what we have learned on data sync and working under high load.
I wanted a system that could serve transactions fast and cost-effective.

Why?
Because there are lots of applications like DEX/DeFi/Gaming/MicroPayments that can't exist without such a backbone.

Question: Can you briefly introduce the project METAHASH what are some of utlities of $MHC ? How do you think you stand out among the competitors if there are any?

Answer by Gleb: We surely have competition. Several other chains try to gain the same goal that we have.

Right now we have:

• fully decentralized network
• under 3 seconds transaction finality
• over 50 000 per second transaction throughput

which lets us offer extremely low transaction fees and... Let's say a project appears that will gain mass popularity and we are almost there. There is not much of a choice to which chain to migrate to or start with.

Question: Can you share the achievements the team has made so far ? what are the major achievement target $MHC is yet to achieve . If possible also share your roadmap

Answer by Gleb: Our main achievement is that we are now fully decentralized with the last part of voting for updates coming out now. It is a huge difference on how a chain works in test enviroment and in decentralized way where there is no permission to set up a node.
And MetaHash has proved it can exist and keep up with it's speed promises in decentralized mode. However now we are working on WHY it was all started. Tokens (almost ready for release), NFT, Bridges, DEX

Check out the metahash whitepaper

Question: Could you share a bit about security and also what benefits you provide to incentives user's choosing your platform?

Answer by Gleb: We didn't introduce any new algorithms. We use the ones that are already proven to be secure by years in production. However we did introduce a couple of interesting features:

1. State Blocks - about once a day a state block appears that has to be approved by the whole network, so you don't have to download ALL the chain data. You can start from the last state block.

2. Several nodes sign a block at once. That means you have faster transaction finality which means a lot to defi/dex.

Question: Whats the total supply of the token ? Could you share a detailed tokenomics of mainnet token's supply distribution

Answer by Gleb: Max Supply is 9,200,000,000, only 15% was pre-mined at start, the rest is given out through forging that all network participants get every day for the 20 years since start. Now we are at 2.8 billion in circulation.

2. Twitter Questions

Question: Can you list 1-3 killer features of Your MetaHash Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?

Answer by Gleb:

1. Under 3 seconds finality
2. High throughput
3. Low commissions

High throughput allows us to set low prices but still be attractive to node operators. And low prices combined with high volume and finality speed is what all serious projects need starting with DEXes and moving to gaming projects and micropayments.

Question: What is the minimum that can be staking on your project, for how long, and is worth it for us doing staking or holding?

Answer by Gleb: For wallet forging there is a maximum of 1000 coins. For coin delegation there is no minimum. You can un-delegate instantly there are no bonds. Staking is the tool to distribute coins between long term holders to compensate for the complexity of the project and how long it takes for it to pick up traction. So of course it is better to delegate than just to hold. It is very easy to do it a lot of node operators advertise their nodes where you can delegate. Running an own node is of course more of a challenge and does require some technical skills.

Question: NFT is a hot topic, but are NFT not just for art. Does your project think that more real world use cases will emerge for NFTs as time goes on, why should we take NFTs seriously?

Answer by Gleb: Well should a token be taken seriously? At start not, but as some real value appears behind it appears - it all changes.
The same is with NFTs. I am discussing a project now with one big gaming company that wants to make it in-game items NFTs and the value of such things for a gamer is very real.

So NFTs are not for art only. NFT represents rights to something and as we invent more and more what can be this something this will explode.
Let's take another example rights to get something in real world that any owner of an NFT can claim. Like 1 hour of time of some specific person? At start it can be very cheap, but as persons popularity grows...

Question: Due to its exclusivity, DeFi has a number of concerns, such slippage, rugpulls, fees, Smart Contract security, weak network, and risking users' real-world safety. What is MetaHash's strategy for overcoming these difficulties, particularly for the next generation of techs?

Answer by Gleb: That is exactly what MetaHash was built for. To allow applications that require lots of resource work correctly. Due to higher speeds and low commissions a DEX in MetaHash can work much more like a usual exchange and not just a swap how we know it, so a user will know beforehand what will happen as the markets can't wait minutes or even more for a transaction to happen. DEX/DeFI is one of the applications why we decided to build MetaHashm but there will appear a lot more in the feature. A couple of years ago I said that we are just in the beginning because the backbones are only in tests now and we have now a lot of really usefull projects in blockchains. A good backbone makes new awesome projects appear and we are in the very beginning of this cycle.

3. Live Q&A

Question: Nearly 80% of investors only focus on short-term token price instead of understanding the real value of the project. Can you tell us the motivations and benefits for investors to hold your tokens in the long term?

Answer by Gleb: There is a huge gap between investing and trading. When you trade you don't really need to understand what asset you are trading as the only thing important is what happens in the nearest feature. When you invest you try to pick the projects that have the potential to become stars and allocate some of your holdings for long-term. We are all traders in crypto, but I personally mix both strategies in stock markets and in crypto market too. It's reasonable divirsification.

Question: What is your plan for global expansion? At present, which market does focus on, or is it focused on building and growing to gain customers, users and partners?

Answer by Gleb: Right now as our backbone is ready we need to get attention by implementing some awesome projects that launch on MetaHash.
We watch what is hot right now and look very closely at:

• NFT for gaming industry
• DEX with leverage and features contracts - like bitmex and not like swaps
• MarketMaking bots and copy-trading portfolios

Question: What is the most ambitious goal of your project? What is the ultimate vision that Your project is trying to achieve within the cryptocurrencies market?

Answer by Gleb: I can't name just one. But I can name several.
1. Trading is the heart of crypto. I wish S&P500 token to be traded on MetaHash dex and lots of other assets so you have everything on one platform bitcoin and oil/gas and stocks in one dex.

2. Micro-payments to users.
A lot of projects need a good way to pay users. MetaHash is ideal for that. After DEX takes off - it can be a reallity but it will take a lot of time.

3. Real-world usage
It is the hardest goal but we have the speed to make P2P instant transfers a reallity.

Question: Project a local project or a global project ? Can anyone use your services from anywhere in the world? Is there any restrictions of using your service?

Answer by Gleb: MetaHash is a decentralized project. No one can restrict anything right now but the community can vote for an update if some censorship will be needed. But it is important that this censorship can be only community operated and not in any way relate to some people including myself.

Question: What is your top priorities in 2021? Could you share some plans for the upcoming year? Which part of the project are you most focused on right now?

Answer by Gleb: We are focused on launching an example DEX and NFTs for gaming.

Question: Marketing is an essential component of every endeavor. Do you want to entice consumers and investors to your project?

Answer by Gleb: The best marketting in crypto now is to help an awesome project launch on your chain. The chain is just a backbone. It's the projects that drive attention of the world and as our backbone is ready we are focusing our attention on real applications.

4. Wrap up, final words

From Gleb: It's great to see such a big community here interested in blockchain tech. It is all a huge social experiment we are all a part in. And our participation combined is what will change and is changing the feature of humanity. Thank you all for beeng here now. We are making history happen.

These were all the questions that were asked, stay tuned for another AMA soon!

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Read more about #MetaHash on https://www.metahash.org and https://www.mhc.zone