What is Minima? Minima is a blockchain and peer-to-peer network designed to be accessible to many by making it compact enough to run on mobile and IoT devices
To understand more about Minima, people can read some of the articles below:
- What is Blockchain Layer 1? The Importance of Layer 1 in the Crypto Market
- Overview of the entire Layer 1 for the Next Cycle 2024 – 2028
- Podcast #8 | Why Do I Spend So Much Time On Ethereum And Layer 1
What is Minima?
Overview of Minima
Minima is a blockchain and peer-to-peer network designed to build a decentralized network, where information security for users and value transfer allows individuals to exchange any data, Execute anywhere within scope and at any time if the user makes a request.
Minima also allows users to exchange information directly and securely without interference from third parties, Minima has no central control and is designed to be accessible to as many people as possible by doing making it compact enough to run on mobile and IoT devices. The Minima blockchain uses the Minima coin as currency and as a store of value and medium of exchange allowing peer-to-peer value transfer to any participant on the Minima network.
Minima’s mechanism of action
Minima’s operating mechanism includes the following products:
- DEFI (Decentralized): Minima’s goal is to strive to be a completely decentralized platform, everyone running on the network will run the same code and on a complete node. However, in the network there is no master node, no control quorum, and no mining tools, which means that consistency when starting to build consensus mechanisms must be decided from the beginning and will not likely change in the future.
- Security: Minima is built with a security mechanism based on distributed POW. Transactions running on Maxima to off-chain transactions are scalable and contribute to Minima’s layer 1 security. All of Minima’s cryptographic security is based on transaction hashes and as such layer 1 security will not be compromised by off-chain traffic to layer 2 security. So the nodes are well built and Censorship of other block-based attacks is unlikely.
- Ability of extension: Minima allows users to make transactions both on-chain and off-chain, the on-chain or off-chain block size will be adaptive and can grow or shrink as the user sees fit. Especially in Minima, there is an off-chain protocol that helps bring traffic out of layer 1 and onto layer 2. Layer 2 allows for almost limitless throughput and innovation. Some of the strategies used at Minima are Lightning Network and Sidechains.
The Minima difference
Minima’s differences include the following factors:
- Minima – Layer 1: Minima is a value transfer layer blockchain. All transactions are processed by all nodes on the network and use a P2P system as the backbone for communication between nodes. Blockchain Minima is where all on-chain transactions are processed. Every node in the network comes to a consensus on the state of the blockchain, so all transactions are guaranteed. Users initiate their transactions on Layer 1, before moving off-chain to use Layer 2 for faster and cheaper transactions. As the protocol’s trust layer, Layer 1 is also used to resolve any disputes between users on Layer 2.
- Maxima: Maxima is a censorship-resistant information transport layer that runs on the Minima network. Communication is point-to-point. Messages can be sent, unchained, to selected connected peers between layer1 and layer2.
- Layer 2 Architecture: Layer-2 is fast, cheap, and scalable. It enables instant point-to-point transactions by creating two-way payment channels between participants, using technology similar to Bitcoin’s Lightning Network. When users trade on Minima, they can perform all transactions off-chain. This is where the majority of point-to-point transactions between users take place. It is faster, because each payment is not settled on the blockchain and transactions are processed only by the users involved and not on-chain at Layer 1. By using smart contracts multi-signature and payment channels, users can keep a tab of their outstanding balances indefinitely, until they want to pay on Layer 1. This opens up unlimited TPS possibilities.
- Web Application3: MiniDapps are DApps built with functionality enabled by all components of the Minima network ( Value Transfer on Minima – Information Transfer on Maxima – Unlimited TPS on Omnia ). The user interface for MiniDapp can be written in widely known JavaScript, HTML, and CSS. Minima’s KISS scripting language is Turing-Complete, enabling powerful smart contract driven applications. Any web developer can build a MiniDapp.
Tempus development roadmap
Investors
- August 24, 2022 raised $674,100 through Private Seed Round at $0.01
- October 26, 2022 raised $5.79M through Private Seed Round 1 at a price of $0.06
- January 15, 2023 raised $1.05M through Private Seed Round 1 at a price of $0.06
Core Team
Tokenomics
Information about Minima tokens
The Minima token generation event will take place in Q3-4 2023
Minima Token Allocation
- Public Sale: 16%
- Node incentives: 12%
- Loyalty Program & Grants: 23%
- Team & Advisors: 15.70%
- Private Seed: 7.49%
- Seed: 14.03%
- Private Rounds: 11.78%
Token Release
Update…
Token Use Case
- Use for Incentive Minima programs
- Used as transaction fees and some forms to be deployed by the team in the near future
Exchanges
Update…
Project Information Channel
- Twitter: https://twitter.com/Minima_Global
- Telegram: https://t.me/Minima_Global
- Discord: https://discord.com/invite/minima
- Github: https://github.com/minima-global
Summary
Minima is a compact decentralized protocol that allows users to use it optimally on mobile phones. Use a flexible, censorship-resistant, and secure P2P network with integrated blockchain for fast contract processing and token payments.
Through this article, you probably have some basic information about the Minima project to make your own investment decisions. Please leave comments and suggestions for me in the next articles. !