Gate.io AMA with Metal Blockchain-The Next Generation of Blockchains

Time: October 28th, 2022, 16:00 UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with CEO and Co-founder of Metal Blockchain, Marshall Hayner in the Gate.io Exchange Community.
Official Website: https://metalblockchain.org/
Twitter: https://twitter.com/MetalBlockchain
Follow Metal Blockchain on Twitter

Guest

Marshall Hayner — CEO and Co-founder of Metal Blockchain

Q&A from Gate.io

Q1: Briefly describe Metal Blockchain?

Metal blockchain is what we call a “Layer zero” blockchain, in that it can handle the consensus for multiple other chains, some other similar chains: Avalanche, Polkadot, Cosmos. You may have heard of “Layer one” as there are now about 200 I believe, but there are probably only about 5 or 6 layer zero blockchains today. The difference being that Layer one is great for the base layer of transactions, a good place to launch a token or a smart contract to interact with tokens and/or NFTs and other tokenized assets. Layer zero is great for launching coins, independent blockchains, and smart contracts are generally used for cross chain transfer. A big impetus for the design of Metal blockchain was to bring legacy Proof-of-work chains to a modern PoS consensus, while giving them smart contracts, but also improving speed.

The other major push for Metal blockchain is to put an end to oracle based bridge attacks, to which we are now exceeding $3b in exploits.

Q2: What problem does Metal blockchain solve? How is it different?

It’s true, in a world with so many choices, why choose Metal? The answer is a very specific one. You may find yourself in the near future using Metal blockchain in many ways, but definitely in these three:
1) You find yourself using the new and improved PoS Dogecoin and it’s moving at 4.5k TPS settling in under a second.
2) You decide to launch your new dApp or platform on DOGE vs say MATIC because the community and branding is right for your project (blockchains having the same capability, Metal being faster).
3) As a Bank or Fintech institution you want to get your public blockchain live but need consensus and support in building it.

Q3: What are the core features of Metal Blockchain?

Some of the core features and functionality of Metal blockchain:

1) Blockchain as as service (easily spin up your own chain and get instant consensus)
2) Choose from many chains to clone (A, B, C, D) Proton, Bitcoin, Metal, Dogecoin, and the list goes on
3) PoS consensus with over 4.5k TPS and < 0.5s finality
4) Web Authentication coming to all sub chains (throw out your third party wallet software and turn your phone into a trezor)
5) Multi chain bridging relying on the protocol itself and not oracles
6) Decentralized and easy for anyone to become a validator (miner) with simple hardware, this was the original vision of Bitcoin as well.

Q4: For the financials can people leverage your token? Is staking available?

Yes, indeed! Metallicus (the core dev behind Metal blockchain) always launches with utility! Staking is currently live right now and you can learn more here: metalstaking.com, also get the wallet at wallet.metalblockchain.org (coming soon to WebAuth). Not only can you stake $METAL to earn, but you can also stake $METAL to validate for the network and get a portion of other stakers rewards for your service.

Q5: Is $METAL deflationary?

$METAL is in fact deflationary. All transaction fees are burned, the total supply is hard capped to 666.666m with initial genesis at 333.333m, the other 50% is slowly earned over decades to validators and caps at 666m. The 333m is under the treasury of Metallicus but is slowly being granted out to core development teams like Dogecoin Foundation https://www.protonscan.io/account/dogecoinfdn.

To fund research and development into the transition of Proof of Stake.