Meter is a global currency that maintains long-term, stable purchasing power and can’t be censored or manipulated by third parties.
Meter is a DeFi infrastructure with a Built-in PoW based stablecoin. It strives to solve the following problems in decentralized finance:
1. Lack of a crypto-native stablecoin without a counterparty, oracle, and regulatory risks.
2. Slow performance and long confirmation times.
3. Most current DeFi apps are built on Ethereum, making it difficult for non-Ethereum assets to develop DeFi applications.
Meter employs a unique hybrid consensus protocol that separates currency creation from record keeping. Meter leverages PoW to create a fully-decentralized, low-volatility cryptocurrency that eliminates counterparty, regulatory, and oracle risks typically found with fiat- and crypto-collateralized stablecoins. PoS is used to manage the ledger; validators who hold Meter’s governance token, MTRG, approve transactions. This hybrid can process thousands of transactions per second, allowing transactions to reach finality in seconds. Meter also functions as a Layer 2 sidechain for other public blockchains to allow value interaction among different crypto assets.