#Metahash is introducing a new column #MetaFAQ. Once a week we will publish answers to the questions that concern you the most.
1. How does Forging function and how is it different from the standard mining of cryptocurrencies?
#MetaHash decided to use forging in order to innovate the way traditional mining is used.
In a network that follows the #TraceChain Protocol on MultiPOS (Multivote Proof Of Stake) consensus, it is required for all nodes in the chain to cast votes to keep processing transactions/actions in the network. Forging rewards come from the forging pool and transaction commissions. Rewards are calculated every 6 hours when a new block (trim) is formed. The frequency of calculations and payments may vary depending on technical requirements, at the discretion of the #MetaHash Team. Unlike the PoW system, #MetaHashCoins forging servers don’t go out of date and don’t lose their effectiveness, as their number is limited and depends on #MHC stakes. The only thing that will need improvement is the system’s core (if scaling becomes necessary) but transaction commissions at this stage will fully cover the upgrade.
2. What are the Voting Functions in the #MetaHash Network?
To finalize the voting procedure, 67% of nodes in each of their possible roles must validate the transaction. The use of multi-consensus rules out the possibility of gaining control over the network even with a concentration of more than 67% #MHC on one hand or gaining full control over a network’s part. In addition, the PoS multi-consensus regards every network member as important, not only the owners of the largest share of resources.
3. How is a Node’s “Trust” evaluated?
The best protection against a brute-force attack is blocking the node after an unsuccessful attempt. This is the method we use to evaluate node trust. If a node processes a transaction incorrectly, it resets its trust level. A node can achieve 99% trust value after approximately 6 months of continuous activity. If a node is used to disrupt or slow down the network, it loses the accumulated trust value and will not be used to its full potential for a long time. In addition, Trust Nodes also affect the votes required for other types of consensus.
If you want to find out answers to other important questions or you have a query yourself, join the discussion on the website and in the other social networks!
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