We recently caught up with Paul Chiari, founder of WeatherSV and MetaStreme. He told us all about MetaStreme, how WeatherSV is now using MetaStreme, why MetaStreme decided to sponsor the upcoming CoinGeek Live conference, and the presentations he is looking forward to the most at CG Live 2020.
This is what we learned from our conversation with Chiari.
For those who don’t know, what is MetaStreme?
MetaStreme is a robust and scalable Bitcoin wallet designed to meet the demands of high volume transaction applications. It is not a typical wallet with a user interface, instead, it is a scalable framework for executing high volumes of autonomous transactions. It aims to meet the needs of IoT devices, enterprise systems, and other high throughput applications that want to utilise the inherent benefits of a public distributed ledger.
When is MetaStreme the right fit for a Bitcoin business and why?
MetaStreme is engineered towards high volume transaction applications so any Bitcoin application that requires scale can save much time and expense leveraging from our platform. In essence, it is suitable for almost any application that wants to transact in one way or another to the network without building the complexity required into the application itself.
How do you envision MetaStreme being used?
Although we hope that MetaStreme can assist developers in building Bitcoin applications, our vision is focused on enabling a world of IoT devices, data, and applications from outside the Bitcoin ecosystem to benefit from the unique properties of programmable money and the immutable data ledger inherent in the Bitcoin protocol.
What is the MetaStreme team working on at the moment?
Once we finish tidying up some loose ends from our first integration on the BSV mainnet and [we are] happy that all is running well we will open up this instance to other applications. At the same time, we are working on some updates to WeatherSV with a focus on testing device integrations so that private weather stations can be added to the application and start earning for their contributions.
— MetaStreme (@MetaStreme) September 13, 2020
How does Weather SV use MetaStreme?
WeatherSV uses MetaStreme for getting data onto the BSV ledger. It handles UTXO management, accepts the data outputs from WeatherSV then signs and broadcasts those transactions to the BSV network.
What was WeatherSV running on before it was running on MetaStreme?
Initially, we utilised Datapay from Unwriter and Bitindex from Mattercloud which over time evolved into a customised version of Datapay and the Mempool API prior to our integration with Metastreme.
Why is WeatherSV running on MetaStreme more efficient/better than the way WeatherSV used to run (without MetaStreme)?
MetaStreme has been developed in response to much of what we have learned through WeatherSV while also keeping many things we hope to achieve in mind. It improves on what we have been doing in numerous ways as summarised below.
Scale: Many tools for Bitcoin have evolved from BTC days and never envisaged the scale possible on the BSV network today. Our previous methods would peak out around 10 tps while our tests of MetaStreme demonstrated over 2800 tps with plenty of gas left in the tank. The expansion of the application required us to address this scaling issue sooner than later.
Complexity: WeatherSV in itself is a fairly simple application however it became quite a complex beast due to the Bitcoin integration. MetaStreme allows us to decouple complexity from the application which makes future application enhancements much simpler.
Economics: It has enabled us to dramatically improve the efficiency of our broadcasts which creates better value for the platform. To facilitate on-chain solutions for IoT and Big Data it is important to create the most economically viable solutions possible.
Connectivity: Adding more data sources or IoT weather devices to the application is made much simpler through the MetaStreme interface.
Additionally, the security of our funds, reliability, and flexibility of network broadcasts are greatly enhanced through this integration with MetaStreme.
Why did MetaStreme choose to sponsor CoinGeek Live?
CoinGeek Live is one of the premier Bitcoin events in the globe today. Sponsoring such an amazing event and showcasing our solutions to a global audience is a great opportunity for us.
What is your favorite part of a CoinGeek conference?
The after-parties are great but seriously the opportunity to meet so many people from around the globe that share a common passion for the virtues of the original Bitcoin protocol is truly inspiring.
What are your must-see presentations at the upcoming CoinGeek conference?
The agenda is packed with must-see presentations; unfortunately, the timezone will make it hard to watch it all live, but am particularly interested to hear more about the network upgrades from Steve Shadders, outsourced computation on Bitcoin from Craig Wright and the presentation on Clean Data by Dr. Robert Huber and Phillip Runyan are all at the top of my list.
We are also very excited to hear about the recent announcements regarding the network upgrades and mAPI v1.1 as we see potential for MetaStreme to reliably increase potential throughput and improve the economic viability of transacting on the network.
Remember to tune into CoinGeek Live on October 1st to watch Chiari participate in the panel on “Internet of Things & Big Data on the Bitcoin SV Blockchain” alongside Elas Digital founder Brendan Lee and Predict Ecology co-founder and managing director Daniel Keane.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.