We are pleased to announce our next AMA on February 24th 2021 at 02:00 PM UTC Time: Satoshi Club x Meter
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Meter Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Meter Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Meter
For more details:
Meter – @Meter_IO
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
1)how did you come up with the name of the project
2)why is meter better than any other cryptocurrency
3)what are the pros and cons of meter take an example of a similar coin
Why is Meter better than other Stablecoins?
Looking at the competition among other projects, how does meter intend to remain relevant in the space. CELO and XDAI projects appears to be similar to what METER offers. What difference does METER portrays that makes it distinct from other DeFi projects.
Meter explorer was live recently with new features which helps to foster open staking. One of the features talks about “Detailed information on both the PoS and PoW chains”. How does this feature assist users and validators to effectively partake in open staking.
Meter updated governance tokens talks about 37.5% (15M) MTRG tokens removed from future releases until new synthetic and derivative products are launched. Considering the volatility of gas token, what impact will the update have on distribution to the users and validators. Will there be increase in the initial reward once derivative products are launched?
Innovating is always a good strategy when you want to achieve more popularity, and you want to arouse the interest of the community so that they decide to invest in any project, in relation to this point, METER currently connects to ETH, but, is it in your plans to innovate in such a way that you can expand this option and allow the connection with the TRX network? If so, are you already working and strategizing to achieve this?
I read that Meter will have two tokens; $MRT and $MRTG. What are the differences between these two tokens, are they supposed to be use separated or together and why did you decide to create both at the same time? Why didn’t you just create one that could make fulfill all the needs you are trying to cover?
I read on your Twitter page that you said: “it will thrill you to know we are ecofriendly & do not expend as much electricity as #Bitcoin or other PoW #cryptocurrencies”. How does this eco friendliness work that you don’t expend that amount of electricity? Will this ecofriendly system affect the miners work when it comes to efficacy and security?
1. What advantage does meter have compared to its competitors?
2. How does meter plan to be an Ethereum scaling solution?
3. At what point does MTR only need to grow and what benefit does this bring to the community?
On your Twitter page, I came across this tweet where you said that your global currency system will be a game-changer, with a picture where you stated “Where we are going, we don’t need collateral”, so, could you please explain this a little bit better? What do you mean when you say you don’t need collateral, how do you achieve it and why will this be a game-changer?
On your page, you mention that the price of the MTR is anchored at the cost of 10 kWh and that it is separated from the price of the USD, my question is, at what value exactly would those 10 kWh be estimated, what currency or cryptocurrency would be used as a reference for determine exactly the value of 1 MTR?
Bearing in mind that MTR could be used to make everyday payments such as food or clothing, how do you plan to introduce this token to the commercial world so that it is adopted by as many businesses as possible? Taking into account that the concept of cryptocurrencies is often confusing for most everyday businesses.
How is the price of 10kWh of electricity calculated in order to make its value constant, and why did you decide that exactly value and asset?
How can a token be supported by electricity? Where is the value of each token backed up and if it is not, what supports the value?
Meter is a single layer chain, most designs currently have 2 or more layers to increase security, is Meter as secure as them with a single layer design?
What does this currency offer in benefits compared to the others? What position in the current market do you plan to reach by the end of the year, and how do you plan to position yourself in it? Based on the previous question, knowing that bitcoin is about to end, what actions can this currency take in order to become number 1 in current and future market exchanges?
As far as I understand from the documents I have read, you are working to strengthen and grow the METER ecosystem. For this purpose, you will have more cross-chain partnerships and general marketing efforts to increase awareness. As a result of these studies, it is understood that there will be new partnerships and a growing ecosystem. Could you please share your new joint candidates with us? Also, what activities will your marketing efforts consist of? Where and how did you plan to market the Meter project?
METER claims that it is unrivaled in its field thanks to its technological solutions. This situation can have both good and bad results. The concept of competition is a driving force in terms of projects. Are you worried about a complacency within the Meter team caused by unrivaled? Do you have the ability to create new sources of motivation to continue your technological development?
Meter uses the HotStuff consensus protocol. What advantages has this model provided to the platform and the operations performed on it? How does HotStuff differ from other known protocols such as PoW, LPoS, DPoS and others?
We are in the presence of the “BOOM” of layer 2 platforms in the DeFi and blockchain world. What are the features that make Meter stand out in this tide of layer 2 platforms and applications? What are the strategic advantages that this type of technology provides to the protocols you have developed within your project?
Meter claims to be a scalability solution for Ethereum, this important quality is even more necessary today. What are the tools you have developed to make this solution tangible and efficient? What kind of technologies do you use to improve the operability of the ERC20 network?
Meter handles the distribution of newly emitted $MTRG through an on-chain auction with $MTR, how frequently do the auctions take place throughout an entire month?
Meter will soon launch NFTs in collaboration with SpaceSwap, what else is in it for Meter through this partnership?
Meter has decided to employ a totally innovative consensus mechanism based on the Proof of Value (PoV) that claims to be a hybrid of PoW and PoS. Tell us about it… What does this new consensus mechanism solve? Why are you so sure that PoV is better than PoW and PoS? How does PoV solve the expensive of PoW and the insecure of PoS to fulfill your goal of being a DeFi Infrastructure with Uncensorable, Sound Money as you promise?
Meter’s economic and consensus design value is supported by the price of 10 kWh of electricity, why is this way more profitable and stable when purchasing power than any fiat currency?
Meter is integrated by two tokens $MTR and $MTRG. Tell us about their functions and what we can do or not with them. As I understood the first one is necessary to obtain the second one, right? Explain us how it also works this dependency that there is of the one with the other. Finally I would like to know which is the token of interest for investors or Holders, which will be in charge of representing the value of Meter?
Will real inflation be much lower than that of a traditional PoS system?
From what I could understand Meter was intended to be a DeFi infrastructure to interface with other public blockchains like ETH and run as a sidechain to allow for scaling interaction, correct? How do you accomplish this? Why do you say you offer the tools necessary to help Ethereum scale? What things does Meter offer Ethereum that they don’t currently have? Do you have the capability to do this with any blockchain?
Does it use its own currency as collateral?
Is there possible additional functions for eMTRG in the future?
Meter is a DeFi solution, which you say is fully equipped to be helpful for any kind of project. Specifically, what kinds of things can be done with Meter? Perhaps applications, protocols, DEX?… Will it also be designed to work with insurance, gaming and NFTs, what potential does Meter have?
In march you’ll be launching the Mether-Ethereum bridge, this bridge can connect to Ethereum and other blockchains like which ones? Is there a possibility to create an interoperability feature with the unmeasurable gas fees that exists in the current market? How are you going to achieve it using an ERC-20 token utility?
Miners and validators are an important part of the consensus mechanisms of your two tokens MTR and MTRG, It says in your papers that they collaborate to make the Meter system stable, secure, and scalable, are this actors rewarded on your economic model? How do you incentivize this people to keep apporting positive to your ecosystem?
Some stablecoins now prefer pegged to Gold rather than fiat. But Meter prefers Electricity over others. Why do you think Electricity is more valuable than gold?
I am very interested in $MTR, a metastable token that is created by proof of work. What is the difference between this “metastable” token and the famous stable tokens ($USDT, $USDC, $DAI)? Every day new stable tokens are released, why do you think this one can make a difference? What fantastic things can be done with $MTR?
It is extremely striking and impressive how METER fights against traditional devaluation protocols, by projecting that it maintains its value in the long term and provides protection and peace of mind when making transactions, how is this possible? What is the basis of its currency sustainability scheme?
With countless Defi applications, how can Meter provide a secure medium of exchange for these applications ? or with other blockchains ? and how do they ensure that the security protocols of other applications do not interfere with transactions ?
They have as main phrase that METER is better money, for this reason their token (MTR) is created through proof of work mining, could you explain to us, what is proof of work mining ? and what value would the token reach ? and through this modality can the token be regulated ?
In your roadmap ,I see that it is until May 2021 only which is to implement governance process. So can you explain more about what kind of governance to be implemented in Meter which is scheduled on May 2021? What are the next thing to do? What are the upcoming plans after May 2021 ? Thank you
Meter processes thousands of transactions per second with HotStuff Consensus so transactions are confirmed almost instantly. So,can you explain how does HotStuff Consensus works in your platform? With this consensus,is there any risk we can expect from this? If their is strength with HotStuff Consensus, what weaknesses we can expect from it? Thank you
Recently Meter partnered with Avalanche to develop the Avalanche-Ethereum Bridge. Can you tell us how this bridge works and what does it enable for Avalanche? Does the AEB perform similar to how the Meter-Ethereum Bridge will work?
One of the terms MTR is defined with is low-volatility. Can you explain why is MTR low volatile and what are the mechanisms used to maintain the price stable since it is called the Metastable Coin?
The MTRG token is acquired via on-chain auctions and it’s necessary to use MTR. Can you explain further about the whole process of those auctions? What is the step by step of the auctions? Is there a minimum of MTR we need to hold to participate on auctions?
The early investors has an 8.75% of Meter tokens allocated with a 1.5 year semi-annual release, can you tell us how are beneficiated your early investors and if it is a chance to become one at this point of the project?
Exchangers and traders plays an important role on Meter ecosystem, however it is very important to list your utility token in major exchanges to give the scope needed to reach to everyone so it can be actively traded, how much portions of your reserves are destined to listing and which is more important for the trading feature? $MTR or $MTRG?
What do you think the role of community in Your ecosystem? What’s Your plans to keep build positive community and what do you expect support from cryptonation community?
Will service providers be required to periodically submit service level reports? How are they guaranteed to be true reports and would it involve feedback or ratings from other users?
How does the Your token work in Your ecosystem, and is there any benefit for investors to buy token in the long run?
With all the partnerships and projects Meter Platform accomplished it’s interesting to see that it does not reflect or help raise $MTR volume in the market. What are your plans to try to gain more traction on $MTR’s volume and help increase the value? Is there any marketing program that you are cooking and will be launch soon?
What do you think is holding the DeFi space back? What is preventing the mass adoption of DeFi products?
As I know, Oracles play a massive role in Defi and that needs to be made better. How do You solving this issues?
Crypto people say that the next boom will on NFT after the Defi, Do you agree with this? Please share with us about NFT launching on VSN in future?
If you decide to compare Meter’s TPS number with that of other blockchains, Meter would clearly lose because it has a lower than average number. So, is offering only 1500 TPS enough to maintain your network or would it be very vain to have a higher number of TPS than other blockchains?
Why was it decided to offer a bridge for transfers between Meter – ETH, considering the high commission rates, congestion and slowness of the ethereum network that prevents its use, having even better alternatives like BSC? Could there be also a bridge for transfers between Meter – BSC?
It is mentioned that Meter can be used for purchases and daily payments like a coffee, but specifically what mechanism is used to make payments in this way? Do you have a partnership with Visa and plan to launch a prepaid card?
I am a user who is entering the Defi market, and I do not know some concepts or terms. Could you briefly explain what a Layer 2 Protocol consists of, and what benefits does it bring to a network like etherium?
The energy efficiency that it is capable of getting, of 10 kWh, draws my attention, however, as your network expands and expands, consumption will tend to increase, or do you foresee that it will be maintained at that level in a sustained way?
I see that your MTR token is of a similar type to Bitcoin, however, it advertises that your network has a fast and scalable performance, so, compared to bitcoin or etherium, how is your network performance, in terms of transaction speed?
On their website they highlight the speed of Meter, as well as its scalability, however, how secure can it be?
I see that they present the Meter alternative as a product capable of functioning as a long-term payment method and store of value. What additional incentives do you offer to your future customers in order to consider themselves a real alternative to other products?
What are the benefits of designing the Meter ecosystem with 2 tokens? What real benefits does it bring to users and how does it differ from other similar solutions?
Every day projects are developed with an elastic system anchored to the market capitalization of a certain chain, and they say “this is the most stable regulatory system in any currency”, but ultimately none of them prosper, it will be the same Meter that anchors its value to that of ” 10 kWh of electricity “? or if the capital will be “more stable”?
If Meter is really a gas scaling solution for Ethereum, then will Meter have exactly the same feature as ETH only with cheaper gas? or how related are they?
You mention that the Meter Value is backed by 10 kWh of electricity, that is to say that it will always remain at that value despite the value of that backup going down or up? If so, can that value be controlled in Cex or only in Dex?
You mention that Meter can be used to make any daily payment such as a coffee cup, but has this means of payment already been implemented in some locality?
I understand that your platform has three different tokens, but the only one that complies with the characteristic of remaining stable with the support of 10kWh of electricity is the MRT? is that the other tokens will not be regulated? but they will depend on the market right?
You mention that Meter uses the HotStuff consensus to streamline transactions to “almost instantly”, but is that consensus necessary? If so, how other chains manage to make transactions instantly if they?
You mention the Oracles as “risky”, but really what risks are there in connecting the data to the blockchain? Or could you explain to us what the existing risks are and why it is better not to use it?
If Meter really is a Layer 1 programmable infrastructure, then how can it connect to other public blockchains as a Layer 2 protocol? does it work in some cases Layer 1 and others 2?
Meter can be used for everyday purchases and payments, or payments to friends and family across the world.
The question immediately arose: should each recipient of funds in this case be provided with your application (if it is an individual) or have software and hardware (if it is a legal entity)? Where are you now?
You say Collateral is not necessary to create Meter. On what conditions can I create a Meter, are there any restrictions?
How does Meter maintain its value in the long term? There is no chance that the value will drop drastically thanks to a high and low? What generates the stability and positive projection of Meter?
They say that “Meter is a programmable Layer 1 infrastructure that can be used as a secure medium of exchange for DeFi applications.” My question is, why do you claim that Meter is so safe? Since it can be used as a means to exchange DeFi applications. How do you guarantee your high security? What makes Meter so safe?
“Fast and scalable” are 2 very positive and striking characteristics of a project. How does HotStuff Consensus process so many transactions per second? Are these transactions really confirmed almost instantly? How long would a normal process take?
Meter Platform described $MTR as an metastable coin. Can you give us an idea of what is a metastable coin usecases, its advantantages, and unique features that separate it to the coins and stablecoins? Do stablecoins cannot perform the functions of a metastable coin?
How does Meter overcome license and regulatory challenges, since each country has different regulations regarding cryptocurrency? Does Meter have a strong license base as a global payment?
About the latest Meter Roadmap update, I’ve read that 2020 was a huge year for Meter with the launch of your mainnet, token sales, the release of the first Dapp built on your network, and more. I can see and tell that METER already accomplished a lot from the very launched and in 2020, but there is much more to come in 2021 and beyond right? So what’s up for 2021? May we know your short & midterm plans, like a small overview of the development of your DeFi infrastructure, the adoption of MTR, and the growth of your community?
When we heard your project, the first question to be asked is How Meter Works, right? Meter uses an innovative economic and consensus design that separates currency creation (Proof of Work) with record keeping (Proof of Stake). So could you tell us what are the objectives behind using the hybrid system and it’s primary aim? Also Staking had a great year in 2020, it is becoming an essential and stable part of many network and maybe it will grow even more in 2021. Do you think PoW is going away just because PoS and staking are getting popular?
$MTRG and $MTR coins are integral part of Meter ecosystem, but why do you need to create separate coins for your platform’s usage? Will Meter cannot run efficiently with a single coin to fuel and run it like Bitcoin, Eth and others?
On the website, about the Economics of Meter, I saw that you have two tokens – The Metastable Currency $MTR and The Governance Token $MTRG. So can you site the differences between the two tokens and what are their uses with the important roles they played in Meter Ecosystem? Most of all where and how to Buy MTRG and MTR? Also may we know the reasons why you recently made some important changes to the tokenomics of the Meter governance token, $MTRG, in preparation for the impending launch of staking and on-chain auctions?
After learn about your project, Meter is use Hot Stuff consensus and possible to support around 1500 TPS. But as I know other similar project out there can support more TPS than Meter project. Can you please explain why TPS from Meter is low ? What is your plan to handle this problem?
I know that Meter project help Avalanche team launch Avax – ETH Bridge (AEB) and then Meter project will use AEB into their bridge, but don’t you already have own bridge from Meter-ETH? Why change into AEB also what the benefit that Meter will get from AEB bridge?
Meter will launching new development regarding staking in Meter’s mainnet. Could you please introduce to us how is stake work in your platform, how is the calculation reward that user will get from stake in there? Will the APY stable since MTG is a metastable coin?
How do you handle money risk management on uncertainty situation. Users will seeing this as for their safety.
You provide an open platform for developers to build their own decentralized applications. What kind of apps can be built, please provide some solid samples? What will the advantages for the developers be for using your platform? What is required to start working on Meter platform?
By becoming a Meter ambassador, can I get Compensation in MTR or MTRG coins?
Do I determine what I want to receive compensation for? Does the amount of compensation depend on something, is it a lump sum or is it paid as a salary? I can dispose of the received compensation at my own discretion, there are no restrictions?
I’m a little confused because the documentation says MTR created using SHA256 Proof of Work , and then I read the following – In the Meter network, MTR is used to pay transaction, gas, and storage fees to PoS validators who approve transactions.
Is this a typo or then How can a coin on PoW be used in PoS?
Among the use cases, you are talking about daily payments. And how is the problem of ETH commissions solved when paying for a cup of coffee $ 5 + $ 50 commissions?
You have said about a brand new improved block explorer.can I know more about this?
1. What motivated you to create the Satoshi Club, and what were you doing before you created this platform?
2. In the last year a lot of crypto projects were hacked and millions of dollars stolen, is your platform safe, what is the risk that you too can be hacked?
what is differnce between mtrg, emtrg and mtr? what is the purpose of the team?
how will you see meter in the next future?
what do you mean when tou say that meter is a defi infrastructure with a unique economic and consensu design?
what do you mean when you sai that Meter is a highly decentralized Ethereum scaling solution with a metastable gas currency?