Review on Meter by Pedro O. Alvino M.
DeFi Ecosystem without guarantees and oracles.
A project based on the DeFi ecosystem, designed to employ an alternative market without risk without the need for guarantees or oracles, therefore it also offers developers the possibility of using it as a means of exchange between decentralized applications and to interact with securities in chains external.
Unlike other existing mechanisms, this one presents a development in its network architecture, since it presents a hybrid system of proof of participation and proof of work that simultaneously protects the network against 51% attacks and the management of the accounting book. and confirmation of transactions, thus allowing transactions in the Meter network to be much faster than other chain.
Many of the DeFi projects offer several different financial systems with a native currency that serves as the operating medium for the platform, given it is the case for MTR to manage the different systems within the Meter, but given the bearish channel of the currency potentially affects the project given its design as a utility coin.
Pros
- Supports multiple blockchains that allow it to be a medium of exchange with high performance and efficient transaction times.
- Employs a fully decentralized miner-validated backbone.
- Its consensus mechanism allows users to agree on a transaction record
- The introduction of a hybrid proof-of-stake and a proof-of-work consensus to the network adds more security and stability to the network.
- Proposes an infrastructure for exchange of applications and protection of assets against volatile markets.
Cons
- There is a long list of competitors in the market.
- Very little optimization in the mining system due to high energy consumption.
