Review on Metacoin by gregori cordova

Name: Metacoin
Item: Metacoin
Rating: 5

February 07, 2021

a novel solution in cryptography, powered by hyperledger

New solutions, to the existing problems in the current crypto market, are being created at all times. A clear example of this, and an innovation in this sector, is represented by Hyperledger, a technology created by experts in blockchain, and which today is used by global investment giants, IBM and IT companies. This technology is what drives the Metacoin project, which is the first hyperledger-based cryptocurrency with the purpose of improving and minimizing current problems in the crypto market. The project does not use POS / POW governance methods, but rather uses a novel voting method that makes the network more efficient. Hyperledger chaincode gives Metacoin the ability to create smart contracts using widely used programming languages ​​such as java, or go-land, giving more freedom and ease to developers who do not have to learn a new programming language from scratch. Transactions through metacoin have enormous scalability, since they are processed in parallel, improving network performance and having greater efficiency. In addition, the fees when making transactions are very reasonable, because the network uses a series of initially backed nodes and they are executed through a similar function to ethereum smart contracts, but without the risk of exorbitant fees such as those currently charged. your miners for each transaction.
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Really metacoin is a project that needs to be paid a lot of attention, due to its innovations and the reliability represented by running under a private blockchain that has many use cases in private and public institutions thanks to Hyperledger
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Pros

Being based on hyperledger, the project has many use cases and greater reliability and support than other blockchains.
Through a novel consensus system, users through a voting process can decide at any time to change the algorithm configuration if there is any failure.
Due to the implementation of chaincode, the system does not charge very high transaction fees due to the backed nodes, previously formed for that task.
Smart contracts can be made through the chaincode programming language.

Cons