What is Minter Network?

Minter Network (BIP) is a decentralized finance (DeFi) platform that aims to provide a straightforward and effective method to receive, store, and exchange cryptocurrencies. It integrates with Ethereum and BNB Smart Chain to facilitate cross-chain transfers and swaps. Minter Network's unique features include the ability to trade most cryptocurrencies, tokens, and digital assets within a single network, all in a decentralized manner. It also enables the creation of own tokens and liquidity pools, and the integration with Ethereum and Binance Smart Chain for cross-chain transfers with swaps. The native digital coin of the Minter Network is BIP, with a total supply of 10 billion units.

How does Minter Network work?

Minter Network operates on the Delegated Proof-of-Stake (dPoS) consensus algorithm, which is a fast, decentralized, and flexible consensus model. It leverages the power of stakeholder approval voting to resolve consensus issues in a fair and democratic way. The Minter blockchain has 46 independent masternodes validating 1 block every 5 seconds. The BIP coin allows users to validate the network through stake delegation, pay all network fees, and provide custom coins with reserve. Minter Network also enables decentralized deposits and withdrawals, pool fees, and yield farming options.

What are the potential use cases for Minter Network?

Minter Network aims to provide a platform for DeFi apps through a rich set of SDK and API tools. It allows users to create their own tokens and liquidity pools, facilitating the trading of most cryptocurrencies, tokens, and digital assets within a single network. Users can also engage in yield farming and utilize decentralized deposits and withdrawals. The BIP coin, the native digital coin of the Minter Network, is intended to validate the network, pay all network fees, and provide custom coins with reserve.

What is the history of Minter Network?

Minter Network was launched on May 15th, 2019. The Genesis block included the pre-mine of 200 million BIPs for the first validators, coiners, and users, of which 50% was airdropped and 50% was distributed to early partners. The Minter blockchain runs on the Tendermint engine with the DPoS (Delegated Proof-of-Stake) consensus algorithm. The block reward started at 333 BIP and will be linearly decreasing down to 115 BIP. The total supply of BIP, Minter Network's native digital coin, is 10 billion units, which become available as block rewards over the course of approximately 7 years since the mainnet launch.