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Provides scalable, secure infrastructure for NFT transactions and storage.
MONET is a decentralized blockchain platform designed to transform the landscape of Non-Fungible Tokens (NFTs) with a focus on providing secure, scalable, and environmentally sustainable infrastructure. Building upon its native blockchain from 2018, MONET utilizes a unique consensus mechanism known as Babble, offering Byzantine Fault Tolerance with leaderless consensus and the ability to finalize transactions swiftly, bypassing traditional block confirmations. As part of its mission, MONET seeks to empower users with a decentralized NFT marketplace, delivering true peer-to-peer interactions without intermediaries, ensuring user control over their digital assets. Furthermore, MONET intends to transition to a Delegated Proof of Stake (DPoS) consensus model in the future to strengthen stakeholder economic viability and position itself as the first NFT blockchain adopting DPoS. Reflecting its developer-centric ethos, MONET supports application development across various programming languages through REST APIs and actively promotes an open-source ethos that invites participation and innovation from developers worldwide. The network’s interoperability is further highlighted by the capabi...
MONET is a decentralized blockchain platform designed to transform the landscape of Non-Fungible Tokens (NFTs) with a focus on providing secure, scalable, and environmentally sustainable infrastructure. Building upon its native blockchain from 2018, MONET utilizes a unique consensus mechanism known as Babble, offering Byzantine Fault Tolerance with leaderless consensus and the ability to finalize transactions swiftly, bypassing traditional block confirmations. As part of its mission, MONET seeks to empower users with a decentralized NFT marketplace, delivering true peer-to-peer interactions without intermediaries, ensuring user control over their digital assets. Furthermore, MONET intends to transition to a Delegated Proof of Stake (DPoS) consensus model in the future to strengthen stakeholder economic viability and position itself as the first NFT blockchain adopting DPoS. Reflecting its developer-centric ethos, MONET supports application development across various programming languages through REST APIs and actively promotes an open-source ethos that invites participation and innovation from developers worldwide. The network’s interoperability is further highlighted by the capability to integrate NFTs from Ethereum via established blockchain connectors, offering users a seamless experience.
A critical component of the MONET ecosystem is its token, Tenom, central to enabling functions such as NFT creation, trading, and staking for rewards, with official recognition from FINMA underscoring its regulatory compliance. Although the total token supply is restricted to a cap, the broader details on tokenomics are not exhaustively documented. Nonetheless, MONET's roadmap outlines strategic development phases, including significant advancements from its native token approval and geared towards fostering partnerships within the NFT domain. Environmentally, MONET is committed to reducing energy consumption through its consensus mechanism while encouraging equitable access and participation by abolishing privileged roles. By integrating cutting-edge consensus technologies with scalability and user empowerment, MONET aspires to innovate and sustain a robust digital asset management infrastructure within the NFT space.
The purpose of the MONET project is to provide a decentralized network that facilitates the creation and operation of dynamic, temporary blockchains. It aims to address scalability and flexibility issues in current blockchain technologies by enabling ad-hoc blockchains, or 'teams', that operate parallel to a main blockchain. These temporary blockchains are designed to support various applications, such as gaming, DeFi, and social networks, ensuring high throughput and lower latency.
MONET improves blockchain scalability and flexibility by introducing temporary ‘teams’ or ad-hoc blockchains that operate alongside a main blockchain. These blockchains use the Babble consensus algorithm, allowing for efficient and secure operation, which facilitates seamless peer-to-peer interactions. This dynamic system enables high throughput and lower latency for specific transactions, with results able to be anchored back to a permanent blockchain for reliability and security.
Key benefits of using MONET for decentralized application (DApp) development include its ability to dynamically scale with temporary blockchains, the integration of the Ethereum Virtual Machine (EVM) for broad compatibility with existing Ethereum DApps, and the Babble consensus algorithm for efficient and secure operations. This enables developers to leverage a flexible and scalable infrastructure, accommodating various applications from gaming to DeFi to social networking.
MONET differs from traditional blockchains by offering dynamic, temporary blockchains that are ad-hoc and highly scalable. While traditional blockchains can suffer from scalability issues due to their static nature, MONET uses ad-hoc blockchains to increase throughput and reduce latency for specific applications. Additionally, MONET allows the anchoring of completed transactions to more permanent blockchains, providing enhanced security and reliability.
MONET's association with the Solana ecosystem signifies its commitment to high-performance blockchain solutions. Solana is known for its fast and scalable blockchain infrastructure, and MONET draws inspiration from this model. By being tagged within the Solana ecosystem, MONET signals its aim to provide groundbreaking scalability and flexibility for decentralized applications while maintaining a commitment to creating decentralized, mobile peer-to-peer applications.
If your MONET ad-hoc blockchain encounters issues, consider troubleshooting by ensuring all nodes are properly configured and that the Babble consensus algorithm is functioning as expected. Verify that your setup aligns with MONET's guidelines for creating and maintaining temporary blockchains. Joining the MONET community forums or accessing their documentation can provide additional support and updates for resolving common issues or bugs.
