Meter

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Discover Meter's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Meter?

Meter Governance (MTRG) is a cryptocurrency that powers the Meter network, a high-performance infrastructure designed to scale and connect the financial internet across multiple blockchain networks. It employs a hybrid consensus mechanism, combining Proof of Work (PoW) and Proof of Stake (PoS), to facilitate scalability and interoperability. The MTRG token is used for governance and validation, ensuring the security and stability of the network.

How is Meter used?

Meter (MTRG) is used as the governance token in the Meter protocol. It is employed by Proof-of-Stake (PoS) validators in a HotStuff-based consensus mechanism to validate transactions and secure the blockchain. This token is used to ensure the stability and security of the network, playing a crucial role in the record-keeping consensus.

How do I store Meter?

To store Meter (MTRG) tokens, you can use the following options:

  • Meter Desktop Wallet: Existing users can continue using the Meter Desktop Wallet to store and stake MTRG tokens.
  • Web Staking with MetaMask: You can leverage web staking with MetaMask on staking.meter.io. This allows you to interact with the Meter Mainnet and store your MTRG tokens.
  • Trust Wallet: Trust Wallet supports storing and sending MTRG tokens. You can add the Meter Mainnet to Trust Wallet to manage your MTRG tokens.
  • Ledger Live: You can also use Ledger Live to store and manage your MTRG tokens.

These options provide secure and accessible ways to store your MTRG tokens.

How to buy Meter?

To buy Meter Governance (MTRG) tokens, follow these steps:

Buying on Centralized Exchanges (CEX)
  1. Create an Account:

    • Register on a CEX such as Kucoin, Gate.io, or MXC by providing necessary information and completing identity verification steps.
  2. Fund Your Account:

    • Deposit fiat currency using methods like credit/debit cards, bank deposits, or third-party payment services.
  3. Buy MTRG:

  • Navigate to the exchange's marketplace, search for "Meter Governance" (MTRG), and select the desired trading pair (e.g., MTRG/USDT).
  1. Transfer to Wallet (Optional):
    • You can hold your MTRG tokens in your exchange account or transfer them to a personal cryptocurrency wallet like Metamask for additional security and trading flexibility.
Buying on Decentralized Exchanges (DEX)
  1. Choose a DEX:

    • Select a DEX that supports MTRG trading, such as PancakeSwap or Voltswap.
  2. Set Up a Wallet:

    • Download and install a Web3 wallet like Metamask or an App wallet like Trust Wallet, and create a new wallet.
  3. Transfer Mainnet Cryptocurrency:

  • Transfer the mainnet cryptocurrency (e.g., ETH or BNB) to your wallet address.
  1. Connect to DEX:

    • Connect your wallet to the DEX by following the instructions on the DEX's website.
  2. Swap for MTRG:

    • Find the "Swap" option, select the token you want to trade from, and choose MTRG as the "To" currency. Enter the desired amount and confirm the swap.

Remember to always research the exchange's reputation and fees before making a purchase, and be cautious of scams on DEX platforms.

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History of Meter

Meter Governance (MTRG) is a cryptocurrency that plays a crucial role in the Meter protocol, a scalable, EMV-compatible sidechain that facilitates blockchain interoperability and high-performance decentralized applications (DeFi). The Meter protocol was founded in 2018 by Xiaohan Zhu, who aimed to address the issues of interoperability and scaling in public blockchains.

The Meter ecosystem consists of two tokens: MTR and MTRG. MTR is a metastable token generated through Proof of Work (PoW) mining, while MTRG is the governance token used by Proof of Stake (PoS) validators in a HotStuff-based consensus mechanism to validate transactions and secure the blockchain.

MTRG is used to validate transactions and secure the blockchain, ensuring the stability and security of the Meter network. The token's market capitalization and trading activity are tracked by various exchanges and market data providers, providing insights into its market performance and popularity.

Meter Governance has experienced significant price fluctuations, with its all-time high recorded in November 2021 at $11.77. As of recent data, the token's price has dropped significantly, trading around $1.11 to $3.29, depending on the source. Despite these fluctuations, Meter Governance remains an important component of the Meter protocol, supporting the development of fast, decentralized, and scalable DeFi applications.

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How Meter works

Meter (MTRG) is a cryptocurrency that operates on a hybrid consensus mechanism, combining both Proof of Work (PoW) and Proof of Stake (PoS) elements. This unique approach aims to provide a secure, fast, and reliable transaction system.

Proof of Work (PoW)

Meter uses SHA256-based PoW mining, similar to Bitcoin. This means that miners compete to solve complex mathematical problems to validate transactions and create new blocks. The mining process involves specialized hardware called Application-Specific Integrated Circuit (ASIC) miners, which are designed to efficiently solve these mathematical problems. The same hardware can be used for mining both Meter and Bitcoin, making it a versatile option for miners.

Mining Process

To mine Meter, miners need to configure their ASIC miners to connect to a mining pool. The mining pool is a group of miners who combine their processing power to increase their chances of solving the mathematical problems and earning rewards. The rewards are distributed proportionally based on the amount of hash power each miner contributes to the pool.

Proof of Stake (PoS)

In addition to PoW, Meter also employs a HotStuff-based PoS mechanism. This involves the use of a governance token, MTRG, which is used for staking and governance purposes. The PoS mechanism ensures the validation of transactions and maintains the integrity of the blockchain.

Tokenomics

Meter has two tokens: MTR and MTRG. MTR is the cryptocurrency used for fees, payments, and trading, while MTRG is used for staking and governance. There is no maximum supply cap for these tokens, but the system is designed to produce only what is required to run the network, making it neither inflationary nor deflationary overall.

Hybrid Consensus

The combination of PoW and PoS in Meter's hybrid consensus mechanism provides a balance between security, speed, and energy efficiency. This approach allows Meter to process thousands of transactions per second, reaching finality almost instantly, while maintaining a high level of security and decentralization.

Use Cases

Meter can be used for various purposes, including DeFi applications, everyday payments, and as a store of value. Its EVM compatibility and interoperability with other blockchains make it an attractive option for developers and users alike.

In summary, Meter (MTRG) operates on a hybrid consensus mechanism that combines the security of PoW with the efficiency of PoS. This approach enables fast, secure, and reliable transactions, making it a versatile cryptocurrency for various use cases.

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Meter's strengths

The token Meter (MTRG) has several strengths:

  1. Governance and Validation: MTRG is the governance token of the Meter system, used to validate transactions and secure the blockchain through a HotStuff-based Proof of Stake (PoS) consensus mechanism.

  2. Staking and Earning Fees: MTRG holders can stake their tokens directly as PoS validators or delegate to other validators to earn fees paid in MTR, the metastable token used for fees and payments.

  3. Participation in Governance: MTRG holders can participate in the governance of the Meter system, ensuring that the community has a say in the project's development and direction.

  1. Scalability and Interoperability: Meter, the infrastructure supporting MTRG, is designed to facilitate high-performance, decentralized, and scalable DeFi applications. It achieves interoperability with other public blockchains through its N-way multi-chain router, Meter Passport.

  2. Security and Stability: The hybrid consensus mechanism, combining Proof of Work (PoW) and PoS, ensures the security and stability of the network. This allows for fast and secure transactions, making it suitable for decentralized exchanges.

  3. Cross-Chain Development: Meter supports cross-chain development, enabling smart contracts to scale and move seamlessly between heterogeneous blockchain networks.

These strengths position MTRG as a key component of a robust and scalable DeFi infrastructure.

Meter's risks

Meter Governance (MTRG) carries several financial risks. According to InvestorsObserver, MTRG achieves a high risk analysis based on the proprietary system that gauges how much a coin can be manipulated by analyzing the amount of money it took to shift its price over the last 24-hour period, along with recent changes in volume and market cap. This high risk score indicates that MTRG is susceptible to significant price fluctuations and potential manipulation.

Additionally, the cryptocurrency market is known for its high volatility, which inherently involves risk when investing in any cryptocurrency, including Meter Governance. The price of MTRG can be influenced by various factors such as market sentiment, trading volume, and regulatory developments, making it difficult to predict its future price movement accurately.

Furthermore, the hybrid model of combining Proof-of-Work and Proof-of-Stake elements, while aiming to provide a more secure and scalable blockchain, also introduces complexities that can increase the risk of technical issues or potential vulnerabilities.

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Did Meter raise funds?

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Meter’s team

  • Meter Team: The Meter team, introduced in 2020, is behind the development of Meter, a proof-of-work-based stable cryptocurrency with its value linked to physical world values. The team includes doxxed members who have created a decentralized, high-performance infrastructure for the financial internet, with a focus on crosschain interoperability, scalability, and uncensorable money.

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The fundamental analysis assistant for crypto value investors.

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