Overview

Hi Metaverse Community,

It is time for another edition of our bi-weekly update! Over the past couple of weeks we have had exciting news, and our core developers have also made improvements on the technical front. On top of this, we now have researched more details about the binary chain system and can share a framework on how and why we will implement this triple consensus PoW+PoS+DPoS mechanism. Let’s start with marketing.

Marketing

SWFT Wallet Integration

Metaverse ETP is now available on the SWFT Wallet and SWFT Blockchain. The SWFT Wallet allows users to transfer between a variety of tokens and coins within the wallet itself, making cross-chain transfers simple and easy. Users can directly swap between two tokens without using an intermediary like BTC, ETH, or USDT. SWFT also finds the best rates among major exchanges to provide the most reasonable prices to its users. Fees are low as well, at 0.05%, which can solve some of the high transaction fees associated with selling tokens into the major pairs and then buying the desired tokens using the main pairs. This leads to multiple transactions that cost more than the simple swap on SWFT. For example, if you have ETC, and you want to buy ETP with ETC, currently you will have to go to a major exchange to convert ETC to BTC. Then using this BTC, you can finally buy ETP. If you want to withdraw ETP, that is another layer of fees added to the ultimate end user. Using the SWFT Wallet, you are can make a simple swap with a one time fee of 0.05%, which can end up saving the end users a decent amount.

To learn more about the SWFT Blockchain and Wallet, you can visit https://www.swft.pro

Eric’s Knowledge Sharing Roadshow

Metaverse Foundation CEO Eric Gu has been invited to share his insights on multiple renowned blockchain media within China the past few weeks. He has also been on the road to promote Metaverse. Here is a recap:

CoinVoice Interview and WeChat Livestream

On April 11th, Eric answered a series of questions about his start in blockchain and Metaverse live on WeChat. There were over a 1,000 people listening in to his stories and his insights on the binary chain system, IEO’s, crypto trends, and much much more. To revisit and go into more depth of what Eric shared, here is a link from a well known mainstream media in China, Sohu, who covered the event (link in Chinese): https://www.sohu.com/a/308726880_100167169?sec=wd

Block Finance and PPTV Upcoming Appearance “Blockchain’s Top 100”

Eric will appear in a segment called “Blockchain’s Top 100,” produced by Block Finance and PPTV, a major online streaming service in China. Once we are allowed to share more details, we will have a recap and summary up on social media.

Eric Invited to Speak at Toronto Blockchain Week

Eric was invited to participate in various activities as part of Toronto Blockchain Week. During a VirgoCX event at the St. Regis Toronto, he joined a panel to talk about cryptocurrency evolution and regulation. Jeffrey Wernick, an early Bitcoin investor, also spoke at this prestigious meetup.

Technology

Our core developers have been implementing updates to our explorer page and making improvements on the Metaverse blockchain. Here are some key takeaways:

Official explorer:

Display the MST mining information

Calculate the total amount of MST mined

Evaluate the current reward per block for MST mining

MyETPWallet:

Add a loading page when logging in to the wallet

Improve performances of wallet synchronization

Add MST mining option when creating a MST

Binary Chain Preview

Since Metaverse upgraded to Pillars of Creation (MPC), the Metaverse blockchain has run on a hybrid consensus mechanism PoW+PoS on one chain. This has provided increased security and speed to the mainnet, as block time has decreased from an average of 33 seconds to 22 seconds. With a hybrid consensus, 51% and Nothing-at-Stake Attacks are no longer feasible for hackers. Thus, the Metaverse chain has run steadily with stability since the upgrade. Though we have increased our TPS, we believe for certain usages we need to elevate the TPS even more while maintaining the safety and stability of the mainnet. This is where the idea of a binary chain comes from. What if we could have a main chain that runs on PoW+PoS to handle most transactions, while at the same time run a side chain using DPoS for speed? Pillars of Creation Phase II aims to build this side chain that will run parallelly to the main chain. This side chain will handle those transactions that need the TPS only, while most of the transactions will still run on the main chain. These two chains will interoperate together to form the Metaverse Binary Chain System.