High cost of sending Bitcoin (>$10 per transaction) and the slow transfer speeds of cryptos that used to be fast. This was before both Bitcoin and Ethereum blockchains got bloated. Currently it takes several minutes (if you are lucky) or even up to hours in order to the whole transaction process to get finished. This is why we created the META token on Metaverse's blockchain. We have acheived one of the fastest transfer rates at the cheapest price to send compared to any cryptocurrency alternatives to date. Currently we are running at aprox 90 seconds transaction times for a fee of only 0.0001 ETP per transaction.
Fiat (money) is simply the signal which most closely mirrors the state of energy surplus or prosperity. The contiguous and growing stock of money is the sum total of human prosperity, a reservoir of energy at rest which reflects our ability to do work in the future. Like energy itself, money cannot be created or destroyed, but merely conserved.
Throughout the course of history we have seen many attempts at forms of fiat which have succeeded in being a unit of account, medium of exchange, or both; but we have never witnessed anything other than precious metals withstand time as a store of value while simultaneously being a unit of account and medium of exchange.
Over the course of time, however, in our modern era the rise of blockchain technology and cryptocurrencies have never been more promising.
Cryptocurrency is a medium of exchange electronically created and stored on the blockchain in which the use of encryption control is for creation of monetary units, and verification of funds. Miners confirm transactions. They perform a process of confirmation without the transaction is not considered legitimate.
Their hard work is rewarding through receiving tokens.
META plans to support unbankable industries and communities where both individuals and businesses can utilize META tokens with ease. All parties will be able to send online transactions in an encrypted way which is faster, cheaper, more secure and convenient.
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