Website : https://https//www.minima.global/
Topic: [ANN] Minima - completely decentralized network that empowers freedom for all (Read 155 times)
February 08, 2023, 08:13:16 PM
February 08, 2023, 04:16:56 PM
INTRODUCING MINIMA
completely decentralized network that empowers freedom for all
The Problem:
Since then, many ingenious and powerful advancements have been made, but in our haste to build
features, one single property, for some the most important property, is being side-lined in favour of scale and
security: Decentralization. Bitcoins’ original raison d’etre was for there to be no overarching authority ‘controlling’
the network, no single points of failure and no avenues for censorship built on top of a network resilient to
distributed aacks; both digital and physical. Every single cryptocurrency operating today has sacrificed some or all
decentralization in their race for increased scale and supposed security. Centralization causes huge eiciency gains
after all. But if 1 group of users is paid to perform any ‘task’ on the network for the rest of the users (finding blocks,
resolving disputes, etc.) this inevitably leads to centralization, as is shown by all of the major crypto networks. In
essence decentralization maers because centralized networks are so easy to aack.
Current miner-centric networks rely on a relatively small number of users running full validatory nodes that
process every transaction, ensuring that no one cheats the system and no one accepts an invalid transaction. But
they are not involved in the construction of the blockchain itself, just its validation. A much smaller group of users,
normally referred to as miners, run a full validatory and mining node, otherwise known as a Complete node. Since
only this small group of Complete nodes is involved in the construction of the chain, only this small group decides
which valid transactions actually make it into a block or not, and only this small group is involved in ensuring the
liveliness
Since then, many ingenious and powerful advancements have been made, but in our haste to build
features, one single property, for some the most important property, is being side-lined in favour of scale and
security: Decentralization. Bitcoins’ original raison d’etre was for there to be no overarching authority ‘controlling’
the network, no single points of failure and no avenues for censorship built on top of a network resilient to
distributed aacks; both digital and physical. Every single cryptocurrency operating today has sacrificed some or all
decentralization in their race for increased scale and supposed security. Centralization causes huge eiciency gains
after all. But if 1 group of users is paid to perform any ‘task’ on the network for the rest of the users (finding blocks,
resolving disputes, etc.) this inevitably leads to centralization, as is shown by all of the major crypto networks. In
essence decentralization maers because centralized networks are so easy to aack.
Current miner-centric networks rely on a relatively small number of users running full validatory nodes that
process every transaction, ensuring that no one cheats the system and no one accepts an invalid transaction. But
they are not involved in the construction of the blockchain itself, just its validation. A much smaller group of users,
normally referred to as miners, run a full validatory and mining node, otherwise known as a Complete node. Since
only this small group of Complete nodes is involved in the construction of the chain, only this small group decides
which valid transactions actually make it into a block or not, and only this small group is involved in ensuring the
liveliness
The Solution:
A network where every single user is an equal and Complete member. Where disrupting the network would
require aacking, bribing or coercing 100’s of millions, maybe billions of users. Orders of magnitude more than
current crypto solutions. Total decentralization.
Can a secure, scalable, truly decentralized cryptocurrency be made with no overarching authority? Can
every user be an equal on a cryptocurrency network? Can mining centralization be abolished? Can the need to
outsource any critical aspects of the network to some third party become redundant?
A network where every single user is an equal and Complete member. Where disrupting the network would
require aacking, bribing or coercing 100’s of millions, maybe billions of users. Orders of magnitude more than
current crypto solutions. Total decentralization.
Can a secure, scalable, truly decentralized cryptocurrency be made with no overarching authority? Can
every user be an equal on a cryptocurrency network? Can mining centralization be abolished? Can the need to
outsource any critical aspects of the network to some third party become redundant?
Requirements:
• The protocol needs to be so resource-eicient that every user is able to run a Complete node at all
times, as if it is of no consequence.
• It must remove the paid miners. The miner-centric fee-paying model always leads to centralization.
• It must be complete. Immutability of the protocol is a desired quality.
• Since it must be complete, the Protocol must
◦ scale from inception
◦ be Quantum Secure
for a future where it might maer.
• It must be small. It must be powerful. It must remain decentralized. It must be finished
• The protocol needs to be so resource-eicient that every user is able to run a Complete node at all
times, as if it is of no consequence.
• It must remove the paid miners. The miner-centric fee-paying model always leads to centralization.
• It must be complete. Immutability of the protocol is a desired quality.
• Since it must be complete, the Protocol must
◦ scale from inception
◦ be Quantum Secure
for a future where it might maer.
• It must be small. It must be powerful. It must remain decentralized. It must be finished
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