MONET: Mobile Ad Hoc Blockchains. An open network architecture for mobile blockchains on demand. MONET Network ICO rating – not rated.
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Active ICO : 16/09/19 – 27/09/19
About MONET Network ICO (token sale)
Monet ICO is an open network architecture for mobile blockchains on demand. It enables groups of people involved in any task or activity to form temporary networks with their mobile devices and coordinate themselves without needing trusted third parties.
The Monet Hub is a first and special kind of blockchain in Monet. Unlike its ad hoc counterparts, it is an always-on network that supports the ecosystem and enables inter-blockchain communication.
What does Monet ICO consist of?
Monet consists of multiple ephemeral blockchains that users dynamically create with their mobile devices. Such functionality is made possible by Babble, a pluggable consensus mechanism suitable for mobile deployments, and Monet Hub, an always-on blockchain that supports the ecosystem and provides infrastructure for the first applications on the network.
Why Monet ICO? What problem does Monet ICO solve?
We engage in the sharing economy for many aspects of our everyday life: transportation, housing, and delivery just to name a few. However, today’s peer-to-peer economy relies almost exclusively on trusted third parties acting as coordinators. That means users get convenience in exchange for privacy, transparency and control over their data and computations. Public distributed ledgers attempted to solve this problem by removing centralized intermediaries from the equation, but these public blockchains are too cumbersome to run on mobile, where most of the shared economy takes place. Monet ICO allows participants to directly engage with each other in a truly decentralized manner via ad hoc temporary mobile blockchains.
How does it work?
The Babble SDK, Monet’s fundamental building block, enables developers to add blockchain functionality to their applications and embrace a serverless architecture. Under the hood, these applications connect directly to nearby peers, setup or join ad-hoc blockchains, and broadcast commands within the group to coordinate interactions without reverting to a central authority. The consensus algorithm ensures that every participant processes the same commands in the same order even in the presence of faulty or malicious behavior. The Hub is an optional public utility that helps with connection establishment in the face of NATs, and provides a distributed and secure Smart-Contract platform for hosting non-transient logic, like peer-discovery, ID, and inter-blockchain communication.