A Quick Look At Metatime And Its Fanatical Community Support

The Metatime blockchain ecosystem was going under the radar until earlier this year, only to start pinging very loudly in 2023 as it marches rapidly towards its goal of building one of the most expansive blockchain ecosystems of all.

The project has not only attracted attention for its fast pace of development, but also for the incredible community support it has built up in such a short space of time. Indeed, its community was out in full force on Twitter in recent weeks, responding to what it saw was an unfair decision by moderators to suspend thousands of accounts associated with Metatime. 

How Does Metatime Work?

The MetaChain Blockchain is envisioned as a platform for interacting with the emerging world of Web3, and is based on the Metatime Virtual Machine architecture that enables smart contract execution and the development of an ecosystem of dApps. 

The protocol employs a unique technology that’s inspired by the hive mind of ants, called “MetaAnthill”, which powers an extremely original “proof-of-meta” consensus algorithm. The proof-of-meta consensus actually combines three different mechanisms, namely Meta proof-of-stake (MPoS, Meta proof-of-history (MPoH) and Meta proof-of-social work (MPoSW), in order to manage a complex network that can allocate its resources in the most optimal way. The main purpose of MetaAnthill is to maximize the efficiency of synchronized network nodes and the different devices they use. This involves the protocol first scanning the device, in order to ascertain how much resources it’s able to contribute to the network. In this way, it can then determine the best role of each network user. 

With MetaChain, there are three types of network participants. The MetaMiners are validators tasked with securing the network using the MPoS algorithm. Their role is similar to validators in a proof-of-stake blockchain, as they’re required to stake Metatime Coins ($MTC). MetaMiners help to organize transactions in a way that eases network congestion, sending them to other validators when necessary to ensure the system flows as quickly as possible. MetaMiners earn $MTC tokens as a reward for their efforts. To participate as a MetaMiner, users must stake at least 1 million $MTC. 

MacroMiners use the MPoH algorithm to perform the task of checking the order in which transactions are processed by the network. They oversee the MetaMiners and ensure transactions are validated correctly. Confusingly, there are three kinds of MacroMiner – archive nodes, full nodes, light nodes – categorized according to their hardware capabilities. These nodes organize transactions in order to receive mining rewards that are split among all network participants. The rewards that can be earned are capped at 150 $MTC for archive nodes, 100 $MTC for full nodes and 50 $MTC for light nodes. 

Finally, the MicroMiners in MetaChain are required to process transactions with the MPoSW consensus mechanism. Their task is to check every transaction to ensure it is either accepted or rejected on time. MicroMiners can use a low-powered mobile device to perform this role, earning a small amount of $MTC tokens as compensation, plus the right to vote in governance matters concerning Metatime. 

Metatime’s consensus algorithms are an intriguing setup and the most obvious benefit is that it means anyone can participate with any kind of device, either by staking $MTC or devoting computing resources to the network. 

The Metatime Ecosystem

We’ve already touched upon MetaChain and MetaCoin, and Metatime is also building its very own, native decentralized cryptocurrency exchange platform known as MetaDex. The DEX will be unique as the first platform of its kind that doesn’t charge fees on trades that close at a loss. Other projects include MetaWallet, which will be a secure digital wallet for all Metatime assets, a Blockchain explorer called MetaExplorer for viewing transactions, and MetaNFT, which will be Metatime’s very own platform for minting, selling and buying non-fungible tokens. 

Metatime will have its very own fundraising platform, MetaLaunchpad. Here, project creators will be able to tokenize their new products and services using Metatime’s infrastructure, then launch fundraising campaigns to raise money from the Metatime community. Ordinary users will be able to invest $MTC in any project that interests them, with their investments safeguarded by strict governance rules designed to prevent rugpulls and other scams. 

One of the most attractive things about Metatime’s proposed ecosystem is that Web3 investing opportunities will abound. Besides simply trading tokens and investing in new projects, users will also be able to invest in physical real estate through the MetaRealEstate marketplace. The idea is that real estate owners will be able to tokenize their properties, enabling fractional ownership of homes, apartments, retail spaces and hotels. It will make it possible for users to become part owners of a piece of real estate with as little as, say $100. Investors will receive tokens representing their fractional ownership of a property, and these will entitle them to receive a share of whatever rental income it can generate. 

Alternative, Metatime users will also be able to explore opportunities to get involved in the movie industry. MetaMovie is envisaged as a platform where budding filmmakers can submit their movie idea or script and try to raise enough funding to actually make it into a film. Investors will not only share in the profits, but also take part as collaborators, helping to shape the story. Once a movie raises its requested funding amount, they’ll then be able to go ahead and make the movie, sharing whatever profits they recoup with their backers. 

A Fanatical Community

It’s not surprising that Metatime has gotten a lot of attention from the crypto community in recent months. The project launched its initial token presales earlier this year, presenting the first opportunity for fans of Metatime to get their hands on its $MTC token, and it was a runaway success. Through its Seed Sale 1, Seed Sale 2, Private Sale and Public Sale rounds, Metatime was able to raise over $38 million from both corporate and individual investors, signifying huge interest in the project. 

Further milestones this year include MetaChain’s public demonstration of its ability to process an incredible 700,000 transactions simultaneously, highlighting its potential to support at massive scale with super-fast transactions with low fees. 

Metatime also recently submitted its smart contract code to an audit by the respected Blockchain auditor Hacken, passing with flying colors as it earned a 10/10 grade. According to Hacken, Metatime’s code met the “highest code quality and security standards”. 

MetaCoin has since been listed on major cryptocurrency exchanges like Bybit and Bitget, while generating huge interest with its recently launched MetaAirdrop campaign, one of the largest crypto token giveaways in the history of the industry. The MetaAirdrop campaign runs until January 2024 and will ultimately see more than 200 million $MTC given away to the community. 

It was Metatime’s MetaAirdrop campaign that led to an incredible show of support for the project from its community on Twitter. In June 2023, Metatime CEO Yusuf Sevim revealed in a tweet that an estimated 100,000 active Twitter accounts belonging to community members had been either blocked or suspended due to their participation in the airdrop campaign. 

The account suspensions occurred shortly after Metatime performed its first token airdrop and encouraged users to retweet and share the announcement. Despite not breaking any rules, Twitter moved swiftly to block thousands of accounts taking part. 

The response from Metatime’s community was simply breathtaking, as legions of project supporters came together to voice their displeasure at the account suspensions. Encouraged by a personal plea from Sevim to Twitter’s owner Elon Musk, the #FreeMetatime hashtag soon began trending as hundreds of users pleaded for the accounts to be unblocked. 

So Far, So Good, But Will It Last?

Metatime’s progress this year has helped to solidify its status as one of the most compelling new Blockchain projects. It’s based on a highly original network architecture that looks capable of solving Blockchain’s long standing problems around slow transactions and scalability. 

By merging three different consensus mechanisms into one, Metatime has found a way to ensure that every single user can participate in its network, earning rewards for being a part of the community they love. It’s a radical concept that supports an extensive ecosystem of Web3 dApps, and it’s one that people can appreciate. 

As demonstrated by the huge participation in its MetaAirdrop campaign and the strong show of solidarity on Twitter, Metatime is a project that has attracted great interest. Of course, Metatime faces a strong challenge in the shape of existing smart contract Blockchains like Ethereum, Solana, Binance Chain, Avalanche and Fantom, to name just a few. But the enormous support of its fast-growing community is a very promising start. 

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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