ℹ️METASTAKE WHITEPAPER & ECOSYSTEM
INTRODUCTORY NOTE
What is METASTAKE?
METASTAKE is a next-generation Delegated Proof of Stake (DPOS) Layer-1 blockchain network. It features unsurpassed compatibility for developers and provides an extensive suite of tools and onboarding support to develop and deploy smart contracts on the world's fastest, most scalable, and affordable METASTAKE EVM. The network is backed by robust governance features and a vibrant community of passionate contributors and users excited about the future of Web3. Establishment
The METASTAKE is a real-world-ready blockchain. Through years of challenges, innovation, and web3 firsts, METASTAKE has grown into a network capable of supporting the extreme demands of the decentralized world of tomorrow. Launched in 2022 without an ICO and through a fair token distribution, the lead development team initially utilized the METASTAKE source code and debuted a specialized version with additional layers of governance, tooling, and node configuration requirements. Through the years, the development team has continued to innovate based on the needs of builders and, in late 2022, launched the first bespoke/ground-up Ethereum Virtual Machine (tEVM), which runs using a smart contract on the native chain's quick finality and node infrastructure. The launch of the METASTAKE EVM has given builders and users two networks, native supporting C++-based applications and the METASTAKE EVM allowing for complete compatibility from any traditional EVM/solidity-based applications. METASTAKE continues to push beyond the boundaries of what web3.0 networks can achieve, and builders can look forward to additional performance and language capabilities as the METASTAKE Network continues on its sharp growth trajectory.
Distinctive Attributes METASTAKE provides
Uptime: Operational integrity of the METASTAKE network has maintained a 100% uptime since MARCH 2022 without any breaks, forks, or outages.
No Front Running: METASTAKE is architected not to have a mempool and allows for transactions to be processed on a "First in First Out" basis, eliminating the ability for transactions to be front run.
Transaction Finality: 3 second block times. It takes half a second to complete a transaction.
Transaction Throughput: METASTAKE has successfully proven over 1,000,000 Transactions Per Second in 3 blocks(1 second)
Security: DPOS consensus mechanism provides strong security protection against a 100% attack. METASTAKE requires 2/3s + 1 of the validators to sign blocks.
Fixed Gas Rate: METASTAKE Gas Fees average 0.00000001 per transaction. In addition, gas fees do not fluctuate with network volumes. As a result, costs are more predictable and affordable for users and infrastructure.
Sustainable: Low carbon footprint. A typical transaction currently only consumes 0.000001 kWh to execute.
Smart Contract Support: Smart Contract Support: Developers can build smart contracts on METASTAKEin multiple languages, including Solidity, C++, Go, and Rust. This makes METASTAKE the most compatible and versatile blockchain to build on (Additional language support to be added soon).
METASTAKE Native
Base Layer
MSDC is the open-source software platform that METASTAKE is built upon. MSDC is the backbone of METASTAKE CHAIN as it provides functionalities such as consensus, accounts, authentication, state storage, P2P communication, and the very powerful WASM runtime. METASTAKE has established itself as a high-powered open source METASTAKE chain and was the first to build an EVM on top of the EOSIO base layer. WebAssembly provides a universal compile target that enables applications to be developed in any language. Currently, there are compilers for C, C++, RUST, and Typescript, catering to the needs of a diverse range of developers building smart contracts on the native layer of METASTAKE.
MSDC Coin
MSDC is the native currency of METASTAKE CHAIN. The native METASTAKE CHAIN coin is vital for network governance and allocation of system resources, such as staking for annual returns in Resource Exchange (REX). METASTAKE is utilized to unlock network bandwidth to execute and interact with contracts, send tokens, and stake for network resources. METASTAKE is also used as the voting currency in on-chain governance. The total supply of MSDC is 1 Quantilion coins.
Resource Overview
RAM: A size-based resource an account can use to store data within smart contracts.
CPU: A time-based resource an account uses while performing smart contract actions.
NET: A size-based resource an account uses while sending data to the blockchain.
Governance Overview
The METASTAKEblockchain is a highly inclusive network. It comprises contributors such as node operators, builders, and users responsible for on-chain governance decisions with MSDC. To ensure transparent governance and decentralization, METASTAKE created the MSDC Decide Governance Engine, a system designed to support on-chain voting with MSDC and any user-created tokens. Via MSDC Decide, the token holders contribute to decisions around upgrading the MSDC native and EVM protocol, voting on Block Producers, proposals, amendments, and elections.
METASTAKE EVM
Overview
METASTAKE provides cutting-edge solutions to address the drawbacks developers and users face with other Layer 1 blockchains, such as lagging performance (high latency times & network congestion), limited scalability, and energy consumption. The METASTAKE EVM also implements a fixed gas fee on all transactions, rendering it impossible for whales or any other user to front run their transaction in a mempool.
Architecture: METASTAKE EVM is a Smart Contract built on the native METASTAKE layer. The EVM RPC plays a critical role by translating the native APIs to the standard EVM RPC methods, so all EVM tools and wallets are compatible.
Solidity & Viper: METASTAKE EVM processes the same code as Ethereum's and other EVMs. No modifications are needed.
RPC Specification: Every METASTAKE client implements a JSON-RPC specification identical to Ethereum's, making it easy to read blockchain data and send transactions to the network.
Convenience Libraries: METASTAKE supports the same libraries for JSON-RPC API, such as ethers.js & web3.js.
Custom indexing COMING SOON: A public API that will offer improved data over the standard RPC, such as token holder lists, NFTs, approvals, and more.
Bridging Native to EVM
Bridge from Native to EVM with our metastakeswap.com to use the EVM DApps.
MSDC native to METASTAKE EVM
The METASTAKE EVM accounts can be mapped to the native network accounts so users can bridge between the Native network and MSDC EVM to leverage tools and DApps on both sides of the network.
MSDC, also known as the "gas token," is the native currency for executing transactions on the EVM platform.
When an EVM transaction is executed, the RPC relays the raw transaction data to the native METASTAKE smart contract, which runs the contract in the C++ WASM runtime. The RPC is responsible for translating the Ethereum JSON-RPC methods to the APIs of the METASTAKE native network, as well as storing the historical transaction data to satisfy other JSON-RPC methods such as "
eth_getTransactionReceipt".Account and code tables match the specification in the Ethereum Yellow Paper but are implemented in the METASTAKE smart contract.
Core layer Consensus Protocol aBFT
METASTAKE uses an asynchronous Byzantine Fault Tolerance consensus mechanism at the core layer of block confirmation that processes transactions asynchronously and continues to operate if some of the network nodes fail or act maliciously.
Delegated Proof of Stake Mechanism
The DPoS consensus decides its block producers according to the votes of the entire community of MSDC holders, which allows the network to achieve high scalability in block production.
DPoS can be explained in terms of two phases:
Phase 1 (Block Producer Selection):
21 block producers are elected for block production.
Applicants must fill out a node operator form with a list of requirements to become a BP in the METASTAKE network.
The top 21 candidates with the highest voting weight can become block producers and obtain block production rewards accordingly.
Phase 2 (Block Production)
Block producers validate transactions, construct valid transactions into blocks, and then produce blocks to link the previous block hash to the new appended block.
Missed blocks do not affect the subsequent block production.
Round of block production lasts 126 seconds (each BP has 6 seconds to produce 12 blocks).
Every 12hrs, a standby Block Producer from ranks 22-42 is rotated into the production schedule to test their readiness to sign blocks.
If a Block Producer misses blocks for more than a certain threshold (2hrs on average), they are automatically kicked by the system for two days. This kick is recorded on chain.
This, combined with the auto-rotation of standbys, ensures all Block Producers comply and are ready to produce blocks.
A new block is confirmed once 15 block producers approve through signed messages. This block is then chained to the network.
METASTAKE block producer voting is "inversely weighted," meaning a user will have their voting power reduced for voting less. It also prevents Block Producers from voting for themselves.
Documentation Purpose: The METASTAKE docs provide a list of comprehensive guides for building on METASTAKE dedicated to web2 and web3 developers.
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