Minima is the one mobile-native layer 1 blockchain, enabling full decentralization.
The promise of the blockchain was for people to have the ability to come to a consensus in a decentralized method, with out intermediaries. However, layer 1 blockchains available on the market as we speak have compromised decentralization in pursuit of scalability or pace.
Minima has taken a basically totally different strategy, inserting decentralization as its prime precedence for each protocol design choice. It resulted in a community that permits anybody to take part in validating and setting up the chain on a smartphone.
This article will present a deep dive into Minima and its key options.
What is Minima?
Minima is a layer 1 blockchain designed to be accessible to as many individuals as doable. This has been achieved by enabling anybody to run a completely validating and setting up node on a smartphone with no need a technical background.
Simply by downloading and putting in the app, anybody can simply assist construct and safe its community as an equal, enabling a very decentralized community to be constructed.
Minima has a hard-capped provide of 1 billion cash, which can operate as a retailer of worth and medium of trade on its community. Individuals will be capable to trade worth and information instantly and securely, with no need third events.
(*1*) Hugo Feiler, Co-Founder
Hugo Feiler, Co-Founder
Purpose, values, and objective
Purpose
Minima exists to empower people to construct a community that permits anybody to freely trade worth and data.
Hence, members of the community can run a full node on their smartphones, so anybody will help obtain this.
Values
Collaboration: Minima is about collaboration, not competitors. Working collectively and being clear with different Minimalist’s is a elementary a part of what makes Minima tick.Participation: The blockchain will solely succeed if everyone seems to be an lively participant. Hence Minimalist’s should put within the work to be rewarded.Empowerment: Minimalist’s are working collectively for freedom, so they offer everybody the liberty they should thrive. No matter who they’re.Accountability: With empowerment comes accountability. Minimalist’s belief one another to take duty when issues go improper, ensuring that they first try to resolve any points themselves.
Goal
In the quick time period, the blockchain intends to empower 1 million people to run a full node on their smartphone. The variety of members operating a node issues as a result of though people carry out the minimal quantity of labor mandatory independently, the chain have to be secured with the utmost quantity of collective work.
Minima community overview
The Minima community consists of 4 distinctive layers that work collectively to ensure that a very decentralized community to be achieved.
Minima: layer 1, worth switch, on-chain
Minima is the base-layer blockchain for transferring worth. Every node on the community processes each transaction. Nodes talk utilizing a peer-to-peer mannequin to create the muse of the community.
All on-chain transactions are executed on the Minima blockchain. Every node within the community collectively agrees on the state of the blockchain, making certain that each one transactions are recorded.
Maxima: info switch, off-chain
Minima’s info transport layer known as Maxima. On Maxima, communication is point-to-point, so messages will be despatched off-chain to chose related friends.
Maxima allows encrypted peer-to-peer info trade between first- and second-degree connections on the Minima community.
Omnia: layer 2, worth switch, off-chain
Once constructed, Omnia will likely be Minima’s layer 2. It will likely be fast, reasonably priced, and scalable. By establishing two-way cost channels between contributors and using the newest Lightning expertise, ELTOO, it’ll allow instant peer-to-peer funds.
It will likely be much like Bitcoin’s Lightning Network however extra superior. Minima may also maintain various scaling options like state chains and aspect chains.
MiniDapps: layer 3, web3 purposes
MiniDapps are decentralized purposes that mix the scripting language of Minima with the performance supplied by Minima, Maxima, and Omnia.
The well-known programming languages JavaScript, HTML, and CSS can be utilized to create the front-ends for MiniDapp’s. Minima’s Turing-Complete KISS scripting language allows strong good contract-driven purposes.
“Minima’s layers have been designed to enable the network to scale and be secure without sacrificing decentralization whatsoever.”
Paddy Cerri, Co-Founder & Chief Architect
Minima’s utility
With its really decentralized nature, Minima has the next utility:
Value storage: Over time, the Minima coin will be utilized as a wealth retailer, because the Minima coin provide can’t be inflated away, in distinction to standard Fiat financial methods Medium of trade: The community’s foremost medium of trade would be the $MINIMA coin. Anywhere, at any time, all customers operating nodes can conduct direct peer-to-peer transactions Burn: The price incurred for sending transactions on the community. As a results of the Burn, the general circulating provide of Minima slowly declines over time, making Minima’s provide deflationary Tokenization: For personalized tokens or NFTs to be created on Minima, $MINIMA cash are wanted. NFTs and customized tokens share the identical elementary safety as $MINIMA cash and can be utilized for transactions in the identical wayMiniDapps: Minima’s foreign money has limitless potential purposes inside the MiniDapp ecosystem, which will likely be constructed by group builders. Obvious MiniDapps examples embody funds, DEXs, DeFi, DAOs, gaming, and many others. Third-party partnerships: The fame of the community and its foreign money will rise because of partnerships that incorporate its native foreign money into their product choices
Minima’s dApps
MiniDapp’s are decentralized purposes that run on Minima. With the chance to additionally make the most of its info layer, Maxima, in addition to sooner or later, its layer 2, Omnia.
Developers who know the widely known Javascript, HTML, and CSS languages can simply construct a MiniDapp, making decentralized app growth accessible to as many builders as doable. Virtually any use case is feasible, apparent ones embody DeFi, video games, voting, marketplaces, messaging, and social media.
Anyone can simply entry MiniDapps on their smartphone through the Minima app and use them like common cellular apps. Making MiniDapps primed for mass adoption.
Minima has a hard-capped provide of 1 billion cash. There isn’t any approach to distribute cash after the Mainnet launch since there are not any miners, one of many key distinctive traits of its cooperative PoW consensus mannequin.
51% of the Minima token provide is reserved for public circulation. With 30% of that allocation getting used to incentivize people to run a node. Learn extra about Minima’s Incentive Program right here.
Get incentivized by operating a node
Anyone can run a Minima node, with the chance to earn 1 reward day by day your node is related to the community, rewards will likely be transformed to $MINIMA following the Mainnet launch. Here’s find out how to get arrange:
Sign up for the Incentive ProgramChoose your machine: Android, Windows, Max, Linux, or on a serverFollow the directions to arrange your nodeConnect your node to your Incentive Program accountThat’s it, count on your first reward inside 24 hours
Final ideas
The ease of operating a full node on a smartphone has enabled Minima to scale its community to greater than 400,000 full nodes in over 187 nations, all whereas nonetheless in testnet. Minima is subsequently primed to carry decentralization to the plenty by making operating a full node accessible to all.
With Mainnet launch happening subsequent yr, Minima must be your go-to layer 1 blockchain. Join Incentive Program as we speak and get your node set as much as assist construct a very decentralized community that empowers freedom for all.
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