The only mobile-based Layer 1 Blockchain

by Arthur · November 10, 2022

Minima is the only mobile-based layer 1 blockchain, which enables complete decentralization.

The promise of the blockchain was that individuals would be able to come to an agreement in a decentralized way, without intermediaries. But, layer 1 blockchains in the market today have compromised decentralization in pursuit of scalability or speed.

Minima has taken a fundamentally different approach, making decentralization its top priority for every protocol design decision. It resulted in a network that allows everyone to participate in validating and constructing the chain on a smartphone.

This article will provide a deep dive into Minima and its key features.

What is Minima?

Minimum is a layer 1 blockchain designed to be accessible to as many people as possible. This is achieved by having everyone drive one complete validation and construction of node on a smartphone without the need for a technical background.

Just by downloading and installing the app, anyone can easily help build and secure the network as peer-to-peer, making it possible to build a fully decentralized network.

Minima has one severely limited supply of 1 billion coins, which will act as a store of value and medium of exchange on its network. Individuals will be able to exchange values and data directly and securely, without the need for third parties.

“By making blockchain technology accessible to everyone, Minima has built a fully decentralized network where everyone collaborates as equals.” Hugo Feiler, co-founder

Hugo Feiler, co-founder

Purpose, values and goals

Purpose

Minima exists to empower individuals to build a network that enables everyone to freely exchange values and information.

Therefore, members of the network can run a full node on their smartphones, so anyone can help achieve this.

Values

Cooperation: Minima is about cooperation, not competition. Working together and being transparent with other Minimalists is a fundamental part of what makes Minima tick.
Participation: The blockchain will only succeed if everyone is an active participant. Therefore, Minimalists must put in the work to be rewarded.
Authorization: Minimalists work together for freedom, so they give everyone the freedom they need to thrive. No matter who they are.
Responsibility: With empowerment comes accountability. Minimalists trust each other to take responsibility when things go wrong, and make sure that they first try to solve any problems themselves.

Goal

In short term, the blockchain intends to empower 1 million individuals to run a full node on their smartphone. The number of members operating a node matters because even if individuals do the minimum amount of work needed independently, the chain must be secured with the maximum amount of collective work.

Minimal network overview

The Minima network consists of four unique layers which work together to achieve a fully decentralized network.

Minima: layer 1, value transfer, on the chain

Minima is the blockchain at the base layer for transferring value. Each node on the network processes each transaction. Nodes communicate using a peer-to-peer model to create the foundation of the network.

All transactions in the chain are performed on the Minima blockchain. Each node in the network collectively agrees on the state of the blockchainand ensures that all transactions are recorded.

Maxima: information transfer, off-chain

Minima’s information transport layer is called Maxima. On Maxima, communication is point-to-point, so messages can be sent off-chain to selected connected colleagues.

Maxima activates encrypted peer-to-peer information exchange between first and second degree connections on the Minima network.

Omnia: layer 2, value transfer, off-chain

Once built, Omnia will be Minima’s layer 2. It will be fast, affordable and scalable. By establishing two-way payment channels between participants and using the latest Lightning technology, ELTOO, it will allow instant peer-to-peer payments.

It will be similar to Bitcoin’s Lightning Network, but more advanced. Minima can also maintain alternative scaling solutions such as state chains and side chains.

MiniDapps: layer 3, web3 applications

MiniDapps are decentralized applications which combines the scripting language of Minima with the functionality offered by Minima, Maxima and Omnia.

The familiar programming languages JavaScript, HTML and CSS can be used to create front-ends for MiniDapps. Minima’s Turing-Complete KISS scripting language enables robust smart contract-driven applications.

“Minima’s layer is designed to enable the network to scale and be secure without sacrificing decentralization whatsoever.”

Paddy Cerri, co-founder and chief architect

Minima’s utility

With its truly decentralized nature, Minima has the following tools:

Store of value: Over time, the Minima coin can be used as a store of wealth, as the Minima coin supply cannot be inflated, unlike conventional fiat monetary systems
Substitution: The network’s main medium of exchange will be the $MINIMA coin. Anywhere, anytime, any user running nodes can perform direct peer-to-peer transactions
Burn: The cost incurred to send transactions on the network. As a result of the burning, the total circulating supply of Minima slowly decreases over time, making Minima’s supply deflationary
Tokenization: For custom tokens or NFTs to be created on Minima, $MINIMA coins are needed. NFTs and custom tokens share the same basic security as $MINIMA coins and can be used for transactions in the same way
MiniDapps: Minima’s currency has endless potential applications within the MiniDapp ecosystem, which will be built by community developers. Obvious MiniDapps examples include payments, DEXs, DeFi, DAOs, games, etc.
Third Party Partnerships: The reputation of the network and its currency will increase as a result of partnerships that incorporate its native currency into their product offerings

Minimal dApps

MiniDapp are decentralized applications that run on Minima. With the possibility of also using its information layer, Maxima, as well as in the future its layer 2, Omnia.

Developers who know the widely recognized Javascript, HTML and CSS language can easily build a MiniDapp, making decentralized app development accessible to as many developers as possible. Virtually every use case is possible, obvious ones include DeFi, gaming, voting, marketplaces, messaging and social media.

Anyone can easily access MiniDapps on their smartphone via the Minima app and use them like regular mobile apps. Make MiniDapps ready for mass adoption.

Minima has one severely limited supply of 1 billion coins. There is no way to distribute coins after the Mainnet launch since there are no miners, one of the main distinguishing features of the collaborative PoW consensus model.

51% of the Minima token supply is reserved for public circulation. With 30% of the allocation is used to incentivize individuals to run a node. Learn more about Minima’s incentive program here.

Get incentives by running a node

Anyone can run a Minima node, with the option to earn 1 reward every day your node is connected to the network, rewards will be converted to $MINIMA after the Mainnet launch. How to set up:

Sign up for the incentive program
Choose your device: Android, Windows, Max, Linux or on a server
Follow the instructions to set up the node
Link the node to your incentive program account
That’s it, expect your first reward within 24 hours

Final thoughts

The simplicity of running a full node on a smartphone has enabled Minima to scale the network to more than 400,000 full nodes in over 187 countries, all while still in the testnet. Minima is therefore poised to bring decentralization to the masses by making a full node available to everyone.

With the launch of Mainnet next year, Minima should be your layer 1 blockchain of choice. Join the Incentive Program today and get your node set up to help build a fully decentralized network that provides freedom for all.

Disclaimer

All information on our website is published in good faith and for general information purposes only. Any action the reader takes on the information contained on our website is strictly at their own risk.

The only mobile-based Layer 1 Blockchain

What is Minima?