https://www.reddit.com/r/ethereum/comments/i28jne/minter_network_submission_to_the_reddit_scaling/
created by MkSpriing on 02/08/2020 at 08:01 UTC*
325 upvotes, 6 top-level comments (showing 6)
​
Minter Community's Open Letter to Reddit
Dear/all[1],
1: https://www.reddit.com/r/all/
We were thrilled to find out Reddit was going to use distributed ledger technology for driving user engagement, interaction, and loyalty. The front page of the Internet switching to Web 3.0 is something you don’t see every day: fifteen years into existence, you’re once again on the cutting edge of innovation.
“There are plenty of awesome projects that we don’t know about yet,” reads the text you put up[2] recently. “Most existing scaling solutions focus on the exchange use case.” What we would like to offer here in this letter is an alternative: although Minter is separate from Ethereum, the project’s top priority is enabling brands — small, medium, and large alike — to implement blockchain-powered incentive and reward mechanisms into their operation.
2: https://www.reddit.com/r/ethereum/comments/hbjx25/the_great_reddit_scaling_bakeoff
3: https://github.com/MinterTeam/minter-go-node
4: https://docs.minter.network/
100 transactions within 4.72 seconds - this block in the mainnet
100*(60/4.72)*60*24 = 1 830 508 transactions / day
The price of 1.8ml transactions is 9244 BIP tokens or $75 with the current BIP price (reference[5])
5: https://coinmarketcap.com/currencies/minter-network/
Point claims, transfers, point burning, subscriptions can be handled by blockchain utilizing transaction payload feature.
Currently, the blockchain has an ability to proceed 10 000 transactions per block, it means that Minter is scalable up to 183 050 800 daily transactions, if necessary.
In Minter, we implemented the Delegated Proof of Stake (dPoS) Consensus Protocol. Minter Blockchain utilizes:
Tendermint Consensus Engine
dPoS is the fastest, most efficient, most decentralized, and most flexible consensus model available. dPoS leverages the power of stakeholder approval voting to resolve consensus issues in a fair and democratic way.
Minter blockchain now has 58 independent validators producing 1 block per 5 sec.
If Reddit would use Minter as their blockchain for Community points then all Redditors:
- would not have problems with everyday coin operations, as Minter has well developed user-centric wallet apps for main platforms, iOS, Android, Web. Taste yourself!
- would have their transactions processed within 5 seconds. Is it a reasonable amount of time? We think it is much more than that, it is pretty awesome.
6: https://apps.apple.com/ru/app/bip-wallet/id1457843214
7: https://play.google.com/store/apps/details?id=network.minter.bipwallet.mainnet
- would never pay more than one Cent per transaction.
- would easily see the whole transaction history in the app or via blockchain export.
Issue *subreddit* coins in just 60 seconds, swap not only for one another, but also for items such as iTunes gift cards, XBOX subscriptions, or any of the remaining 18,000 options.
9: https://explorer.minter.network/
10: https://explorer.minter.network/
Minter team has developed a comprehensive toolset for third-party developers, which includes the Console[13], SDK[14], and API[15] for advanced integration. Our blockchain — as well as the vast majority of services built atop it — is open-source[16].
13: https://console.minter.network/
14: https://www.minter.network/docs#minter-sdks
15: https://www.minter.network/docs#other-public-services
16: https://github.com/MinterTeam/minter-go-node
All we ask for is a green light to integrate any of the Reddit communities into our platform, seeing hundreds of millions of transactions in branded coins each and every day. One week is the time we need to make it work.
We would like to take this moment to thank the entire Reddit team for striving to make the Internet a better place. And if you are interested in the proposition we outlined above, please don’t hesitate to contact[17] Mikhail for further communication.
17: https://minter.org/korytov
Also, please check our article: Blockchain Reward System: Reddit Case Study
Best regards,
Minter community
Comment by 0406Antoxa1931 at 03/08/2020 at 11:07 UTC
14 upvotes, 0 direct replies
A great company headed by a team of specialists,
the output of which will change forever the concept of cryptocurrency,I am enjoy in this proj
Comment by Mundane-Analysis-700 at 03/08/2020 at 15:48 UTC
10 upvotes, 0 direct replies
Good luck
Comment by MkSpriing at 02/08/2020 at 11:17 UTC
8 upvotes, 0 direct replies
/u/jarins[1] , /u/EvanVanNess[2] - please check our submission for The Reddit Scaling Bake-Off. Thanks!
1: https://www.reddit.com/u/jarins/
2: https://www.reddit.com/u/EvanVanNess/
Comment by nikoletonikoleto at 06/08/2020 at 21:43 UTC
6 upvotes, 0 direct replies
♥️♥️♥️♥️
Comment by belzarek at 03/08/2020 at 13:16 UTC
7 upvotes, 1 direct replies
All those "ETH killers"(minter, dragonchain, solana) blockchain trying to chill their chain in the bake off competition which required for it TO BE ON ETHEREUM are so pathetic ..
Comment by MkSpriing at 28/12/2020 at 08:49 UTC
1 upvotes, 0 direct replies
/u/jarins[1] , /u/EvanVanNess[2] please check out a follow-up to our proposed candidate solution that we submitted to the Great Reddit Scaling Bake-Off competition https://medium.com/@MinterTeam/announcement-re-mass-adoption-6c23a829c61[3][4]
1: https://www.reddit.com/u/jarins/
2: https://www.reddit.com/u/EvanVanNess/
3: https://medium.com/@MinterTeam/announcement-re-mass-adoption-6c23a829c61
4: https://medium.com/@MinterTeam/announcement-re-mass-adoption-6c23a829c61
