INTRODUCTION
MunitaNet (MNet) is a new payment protocol and the first to use the "Proof-of-Existence" (PoE) technology.
Build from scratch, this future tech. reveal a new horizon for 2015 and compete against the PoW and PoS.
The development is still under progress, a lot of work, and communication has still to be done.
Something is unclear, you have a question, or you want to support the project ? Just leave a message here or follow on twitter !https://i.imgur.com/BmXLDN7.png https://i.imgur.com/FCncSIQ.png https://i.imgur.com/9ZS3myv.png https://i.imgur.com/fC0gBKp.png NEWS
[22 Dec. 2014] OP reworks: Added the menus Bounties, Distribution, FAQS & Documentation. Opened the Reddit page on: http://www.reddit.com/r/munitanet/.
[18 Dec. 2014] Discover how to create your Sidecoin with MNet.
[15 Dec. 2014] More pictures of the wallet.
[13 Dec. 2014] I'm pre-recruiting testers for the wallet. Bounties pending (more details on Recruitment).
[12 Dec. 2014] An other OP rework
[11 Dec. 2014] Wallet introduction (https://bitcointalk.org/index.php?topic=878406.msg9807329#msg9807329)
[04 Dec. 2014] OP reworkhttps://i.imgur.com/fC0gBKp.png CONTACTSWebsite: work in progress
EMail: munitanet@gmail.comTwitter: https://twitter.com/MunitaNetReddit: http://www.reddit.com/r/munitanet/CryptocoinTalk: https://cryptocointalk.com/topic/[...]https://i.imgur.com/fC0gBKp.png ABOUT MNETMNet is a decentralized payment protocol using the "Proof-of-Existence" technology to handle transactions and build the block chain. The MunitaCoin (XMC) is the main coin of this protocol.
The PoE is unique and is going to be a competitor to the PoW and PoS since it open new possibilities.
The MNet objective is mainly to propagate faster the cryptocurrencies across the Internet, with a new approach for the Webmasters adoption, more conveniences for the Users and an high flexibility for the Developers.
A lots of Webmasters are not adopting the cryptocurrencies into their website because every altcoin, and even Bitcoin, require a core running on your server (bitcoind, altcoind, ...).
It's a big issue, 95% of them are paying for a simple webhosting solution, and don't want to bother with a VPS or dedicated server.
MNet is resolving the Webmasters adoption: you have no core to run. You can communicate and interact on the network with few lines of Javascript, PHP, or any other language that can send and receive in a JSON format.
The Developers will enjoy working with MNet too ! Including the protocol into your iOS game, Android app, ... is easier and faster. At the moment it's a pain to accept a Bitcoin payment on your game or to create an Altcoin app without involving a 3rd party. Only a few did it open-source, ...and are copied by the others.
Possibilities are infinite unless you don't know how to communicate with an external server.
The release is going to be a demonstration of strength:
MNet is "Sidechainable", every User is free to create a Sidecoin/Asset on the network. For the first time, a protocol support this feature with no special tricks.
All transactions are -almost- instant, thanks to the PoE.
We also want a strong open-source wallet, making your coins management easy:
coldstorage, block chain explorer, network overview, sidecoins creation, encryption, pin code protection, cross-OS compatible, no block chain download (like Electrum with Bitcoin), ...
...and more will come like a built-in faucet, dice, exchange and chat.
https://i.imgur.com/fC0gBKp.png NETWORK SPECIFICATIONSMunitaCoinShort name: XMC
XMC Maximum supplies: 1.000.000 XMC
Transaction fee: 0.00001000 XMC
Transaction speed: 15s to 1min
Proof-of-ExistenceThe PoE is a green algorithm that require no mining nor staking.
The Oracles are a kind of miners; instead of resolving a puzzle they will create a block by checking your coins until the genesis (or until a checkpoint), confirming/validating their existence and their position.
Basically and without any technical details, an Oracle is just checking the ledger, and sharing his/her finds with the others.
Once the majority of the Oracles on the network are agree to say that a transaction is legit, it's print in a block forever.
Network entitiesThe Users, the Gates and the Oracles.
Unlike the others decentralized digital money, all the entities are not peer-to-peer connected: the Users need no interactions with the other Users.
The privacy is very high, most of the time an User will only connect to a Gate.
The Gates and Oracles are securing the network. Oracles are "resolving" the transactions, while the Gates are answering to the Users queries.
The protocol can work without the Gates, they are mostly here to keep safe the Users privacy and to lighten the Oracles by reducing the load.
All Gates and all Oracles are peer-to-peer and sharing a similar code (with NodeJS) and the same block chain.
https://i.imgur.com/fC0gBKp.png DEVELOPMENT ROADMAPThe development is still going, we have no release date at the moment.
However we will start the run through the following steps.
A. Promotion and Recruitment periodWe are here.
I'm promoting the protocol and recruiting Gates, Oracles and testers.
B. Release deployment period1. Day 0:Wallet open-source for the testers,
Oracle/Gate server closed source (= compressed JS) for the early volunteers.
2. Day 2:Wallet open-source for all,
Heavy recruitment of Oracles & Gates to get a solid network,
Starting with the XMC distribution.
3. Day 16:Oracle/Gate server closed source for all.
4. Day 23:Oracle/Gate server open source for all.
C. Improving the wallet & protocolThe objective of this period is to create the most comfortable wallet for the users and the best API for the developpers.
Should be included in the wallet:
- A XMC/Sidecoin exchange
- A faucet
- A gambling game
- A chatroom
Additional API are expected, depending of the need.
D. MNet/XMC Adoption & GoodiesThis period is to push aggressively the adoption: exchanges, merchants, websites, games, ...
Goodies will come along: cards, paper wallets, stamps, etc... (<= only example)
https://i.imgur.com/fC0gBKp.png DOCUMENTATIONFull protocol descriptionhttps://i.imgur.com/fC0gBKp.png RECRUITMENTWallet testersI need testers for the wallet release day (roadmap B1).
I'll grant 10 XMC to each, so you can try all features while keeping an extra for yourself.
There is a bounty for every bug found, between 1-10XMC depending of the bug's severity.
Right now, I'm looking for 20 testers maximum.
The XMC you'll earn during this period are real.
Oracles / GatesI'm already looking for the firsts Oracles and Gates (roadmap B1). I need peoples:
- who know to setup a NodeJS server: you'll get the instructions to configure and use it but I'll not teaching how to mount NodeJS or secure your server,
- who trust in the project: you'll be the firsts Oracles so I'll need your attention,
- who agree to take responsibilities: I need you to be active.
https://i.imgur.com/fC0gBKp.png BOUNTIESThe bounties will be delivered only on the protocol release (roadmap B1).
- Wallet testers: 10XMC
- This thread translation (for the first part without the documentation): 10XMC
- This thread documentation translation (without the first part): 10XMC
- Full translation of this thread (first part + docs): 20XMC
- Push or do a press release: 5XMC
https://i.imgur.com/fC0gBKp.png DISTRIBUTIONThe XMC distribution start on the roadmap B2.
This is still a prototype, but it should happen this way. You'll be updated.
On 1 Million XMC:
- 1000 (0.1%) will be bounties (testers, translations, other services, etc...),
- 4000 (0.4%) will go into a faucet,
- 750000 (75%) will be sold,
- 245000 (24.5%) will be used to simulate staking during a period.
The Staking simulationDuring 20 days (starting on roadmap B2), your coins will stake. Technically your coins won't really staking, it's only a simulation to make the distribution more attractive.
Every hours, a fixed amount of 500 XMC will be distributed to all existing addresses who hold XMC. The more you have on your address, the more you get.
The maths are easy:
If 100.000 XMC has been sold, and you own 1.000, you have 1%. So your stake will be 1% of 500 XMC (= 5).
The stake will trigger only 490 times (490 * 500 = 245.000 XMC, 490 / 24 = 20.4 days). All the unsold coins are not staking.
ICOThe price per unit is set on 0.00012500 BTC, which is a very low price for a coin with only 1M units.
Keeping the bar low is mandatory to make the coin accessible for all, and to make sure that the coin will be profitable to the initial investors.
A big part of this money will be used in the value increases, the other part will deserve to pay services/devs and help the MNet to grow.
The ICO will last until all coins are sold. However, the staking is only for 20 days.
TransparencyEvery single transaction will be registered into a spreadsheet, open to all.
https://i.imgur.com/fC0gBKp.png PROMOTIONVote for us on AskCoin.net: https://askcoin.net/voteshttps://i.imgur.com/fC0gBKp.png PICTUREShttps://i.imgur.com/fC0gBKp.png FAQSHow can I contribute for the release ? Any bounties ?I'm researching peoples who willing to be Gate/Oracle or Wallet tester.
You can contribute to the project by being one of them, and by speaking about MNet around you. Following on Twitter (@MunitaNet) helps too.
The bounty for the wallet testers is 10 XMC + an extra for every bugs found.
Gates and Oracles will share all the transactions fee. Unlike mining, running a server is not consuming a lot of electricity.
You'll probably grab more fees by starting this early.
I would to be a Gate or an Oracle, which is better ?In term of profit, the both should be alright.
The Gates profit is smaller but they work on more transactions, more sidecoins creations.
As the Gates & Oracles are sharing the same code, you can switch anytime. But switching mean that you'll need to be accepted again by the network.
With a good bandwidth, you can go Gate, because you'll receive a lot of user's queries.
A small example of an Oracle profit:
Let's say today you validated 250 transactions and 3 sidecoins creations (1.000.000 units per sidecoins).
Transactions earnings: (250 * 0.00001000) * 75% = 0.001875 XMC
Sidecoins earnings: (3 * 10) * 75% = 22.5 XMC
https://i.imgur.com/fC0gBKp.png FULL PROTOCOL DESCRIPTION1. Proof-of-Existence (PoE)The protocol use a PoE algorithm to secure the transactions. It's a certification that you coins exists and come from the genesis.
The PoW/PoS force peoples to enter in a competition, where every actor need to 'solve a puzzle' to create a new block and earn money.
The PoE is not a competition but a trip from the genesis (or checkpoints) to your transaction.
This allow the transaction speed to be -almost- instant (between 15s and 1min). This process is green and consume few resources.
To be short, it's working this way: if the network's majority (+51%) confirm a transaction, it's print on the Chain so the transaction is successful and done.
2. The MunitaCoin (XMC)The XMC is the main coin of the network. More coins can be created through the Sidecoins feature (details following) !
1.000.000 XMC (1 Million, divisible to 8 decimals) exists. This value will never change, no more will be generated or burned in any way.
The PoE imply that all the coins must be created on the genesis transaction, this process is not reversible.
The transaction fee is set to 0.00001000 XMC, the fee deserve to feed the peoples who are securing the network.
3. The Network Structure3 entities constitute the network:
- the Users,
- the Oracles,
- and the Gates.
Unlike the others decentralized digital money, all the entities are not peer-to-peer connected: the Users need no interactions with the other Users.
The privacy is very high.
They are well deserved and don't need to store the transactions chain on the computer, to setup nodes, or to keep the wallet open. They just send|receive transactions, manage and secure their wallet.
Your hard drive space is safe !
The Oracles are like the Bitcoin miners, they works to secure the network, to achieve the transactions.
They validate & verify transactions though the PoE algorithm, plus they make sure that the network is safe with the Chain-of-Peoples (details following).
Between the Oracles and the Users: the Gates.
Like the Oracles, the Gates securing the network with the CoP, but they aren't resolving any transactions. Instead they lighten the Oracles stains by answering to the Users queries.
The protocol can work without the Gates, but the reduce a lot the network load, they also add extra privacy to the users.
Usually the Users will communicate exclusively with the Gates.
All Gates and all Oracles are peer-to-peer and sharing a similar code (with NodeJS) and the same chain.
4. The WalletThe particularity of the wallet is that you don't need to download the Chain nor run a core server (bitcoind, thiscoind, ...), the Gates/Oracles provide all the informations and manage queries.
It's very handy for the developers, you don't need a special web-server (VPS, dedicated, ...) to join the network. You could program your XMCDice game on a simple $1/month (or free ?) web-hoster.
I'm developing the official wallet with HTML and Javascript. We don't need more, and that will provide a lot of advantages compared to a C wallet.
However, any dev can create a wallet, or interact with the chain with an other language.
My wallet include some nice features:
- A Chain explorer.
- A Coldstorage system.
- The network details (Gates, Oracles, stats, etc...).
- An helper to generate offline transactions.
- A wallet global encryption (AES) + address PIN Code
- A clear bootstrap and responsive design.
5. The SidecoinsMNet support the Sidecoins, any user can create an altcoin on the Chain.
Technically, when you send this request to the network, a new genesis is generated, which is the begin of your Chain.
To avoid an overflow of altcoins, the creation isn't free. This tax is given to the Gates and Oracles.
The price is now set to 1 XMC per 100000 units of your coin. The minimum input is 1 XMC, you can't make an altcoin with 0.99 XMC.
So an altcoin with 498871 units will cost 4.98871 XMC.
The Sidecoins sharing the same XMC rules: once created, no more will be ever generated or burned, this amount remain the same... forever.
6. The Chain-of-PeoplesWe can say that the protocol have 2 Chains: the Transactions Chain and the Chain-of-Peoples.
The Chain-of-Peoples is an extra security.
When someone want to become an Oracle or a Gate, he need to be accepted by the majority of Oracles and Gates.
The CoP is a peer-to-peer ledger that provide -a kind of- list of all the Oracles and Gates decisions regarding your integration into the network.
When an Oracle resolve a transaction, he is sharing it with all the other Oracles for a verification (details following).
As soon as the majority of the MNet accept to work with you (= you're sending valid PoE results), you are legit on the CoP: you're an Oracle/Gate.
For any reasons, and even if you send good PoE results, the Oracles and Gates can choice to stop or to not work with you. In this case, every communication attempt with the MNet will generate orphans.
The Chain-of-Peoples is like voting.
7. The OraclesThe Oracles roles are:
- securing the whole network with the CoP,
- securing transactions by validating & verifying through the PoE.
The MNet is decentralized: Oracles aren't gods who can manipulate the protocol and the transactions. They don't own nor can find your private keys.
Transaction pickupMost of the time Oracles aren't receiving any transactions. They have to pickup them to the Gates, of course this process is automatic. On the other side you'll have to select manually your favorite Gates.
An Oracle if he want, can accept to receive direct transactions from the users, or queries. The risk is an overload.
Validation & verification processOnce he get a transaction, he can validate it. It mean he is going to check the source of the transaction (mostly the sender's signature) and the origin of the coins (PoE).
Then he propagate his result along with the elements that led to it for the verifications.
A transaction is print on the Chain only if the majority of the network agree that the result is correct.
RemunerationThe Oracles are not in a competition.
Once the transaction is verified, the transaction fees are unlocked and divided between the Gate who received the transaction and the Oracle who validated it.
Trustworthy and transparencyBy default, if an unknown Oracle sending good results to the network, the others will accept to work with him.
But they can decide otherwise.
Various informations helps, and are factors of decision, to configure your Oracle server. Refusing to work with someone can be done manually with ease, or automatically depending of your configuration.
If a source become insolvent, or for any other reasons, peoples of the network can eject it (auto. or manu.).
8. The GatesThe Gates roles are:
- keeping the users privacy,
- securing the network though the CoP,
- lighten the Oracles by answering to Users queries,
- storing the transactions requests.
Digital signatureEach transaction passing through a Gate, is signed by it, so the origin of every transaction is clear. By default the Oracles aren't accepting unsigned transactions.
RemunerationPicking up a pending transaction to a Gate is free.
But once the transaction is confirmed, the Gate keeper receive a small amount from the transaction fee.
9. The UsersThe Users have no direct role on the network, except feeding Gates & Oracles with the transactions fees.
They are pretty much isolated: they share no data on the background, they only connect to the Gates.
Sending a queryThe queries are to explore the transactions chain and the CoP. You can:
- explore addresses, transactions,
- get informations of the network like the Oracles activities, ...,
- explorer the CoP, the state of the network.
Communication with the Gates/OraclesThe Gates/Oracles scripts are written on NodeJS.
They support receiving GET & POST JSON requests; they reply with an other JSON.
10. The Transactions Chain|LedgerA verified transaction is a block. 1 block = 1 transaction.
Unlike the Blockchain, which is sequential and linear, the Tx Chain is multi-level.
It begin from the genesis transaction; the XMC coins existence start from here, it's the only absolute factor of the network, everything else is relative.
No more XMC will be generated, no Coins will be burned, 1.000.000 XMC are somewhere.
The Oracles and the Gates share this chain, but only the Oracles build on it.
All Users can send queries to get the chain data.
It's the Gates job to share those data to the Users. If a Gate refuse do to it, you just have to select an other Gate.
Doing this, the Gate keeper penalizing himself, because if Users switch to an other, he receive no transactions and can't earn a part of the fee.
11. Keys and digital signaturesEvery entities of the MNet are identified: Users, Gates & Oracles, you all have a public & private key.
On the Users side, the keys are required to sign your transaction (it's the same rule for every digital currency).
Like for the Bitcoin and any other altcoin, the one who catch your private key get your wallet.
They Keys & signs for the Oracles & Gates are identifiers for the CoP and PoE.
A public key look like:
fbea360f3b92193e52aa52e9fcb1bfac943e96ffaf3dad2e8adaa6418f2dff760b9df56862e2d5a
cc875b8c9a19df1a1d5e6a844d626642e215bc926aec6640b
It's harsh to read, so we compress to:
XMC1d2fb5a350fe200fda5ea0dc82969cb0ef0ce64f33935
Note the 'XMC1' on the begin it's the XMC identifier. A Sidecoin's creator have to select an available identifier.
This combination of 4 alphanumerics is case sensitive, allowing the creation of 677039 different altcoins.
A private key example:
540006d44e636f35cfd8e693f21ef061cce10000ba642346a2f9edfcb47da5b6
