What is MONET

WHAT IS MONET?

INTRODUCTION

MONET is an open network architecture for mobile blockchains on demand. A blockchain on demand means that participants of a certain activity can form a temporary network for the duration of their interaction without a need of any centralized third party.

Read our WhitepaperWhat is Monet - Illustration

OUR VISION

The peer-to-peer economy, where individuals are both consumers and providers of goods and services, is paradoxically built on centralised client-server infrastructure. Attempts at moving these services on public blockchains, to mitigate the trust factor, are very inefficient because they require every node, across the world, to process everybody’s commands.

Part of the problem can be addressed by designing more efficient consensus protocols, but the idea of implementing localised services on a global public network is fundamentally flawed. We suggest a system, based on mobile ad hoc blockchains, whereby groups of people involved in any task or activitycan effectively form temporary networks, with their mobile devices, and coordinate themselves without delegating full responsibility to trusted third parties. Users only connect to people they need to be connected to, based on service and location, for the duration of their interaction.

The system initially relies on Babble, a consensus module suitable for mobile deployments, and the MONET Hub, a public blockchain providing infrastructure services.

What is Monet - Illustration

HOW DOES MONET FIT THE BLOCKCHAIN ECOSYSTEM?

OUR OBJECTIVE

Our objective is to produce an open-source suite of modular software components that will allow the creation of ad-hoc, localized blockchains capable of running across multiple platforms, including mobile devices. This will provide the foundations for the next generation of purely Peer-to-Peer applications where consumers and producers interact directly with each other in a web of dynamic pockets of trust, without the need for third party intermediation.

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WHAT WE HAVE TODAY

Today, the Peer-to-Peer economy, where individuals are both consumers and providers of goods and services, relies almost exclusively on trusted third parties acting as orchestrators. Mobile devices, that keep us all connected, only act as clients to the servers maintained by these intermediaries. While the system works well, it suffers from the inherent weakness of any centralized model; users are forfeiting privacy, transparency and control over their data and computation. Furthermore, the cost of mediation is ultimately passed on to the end-user.

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WHAT WE OFFER FOR THE FUTURE

Systems built on Peer-to-Peer networking, consensus algorithms and cryptography (eg. Blockchains like Bitcoin and Ethereum), provide a framework for individuals to transact directly with each other without the need for a trusted third party. However, as currently implemented, they are not fulfilling their potential because they are inefficient to manage. The underlying software is too computationally intensive to run on mobile and it de-facto concentrates power in very few hands.

We envisage a world where individuals are only ever engaging with parties they need to be connected to, based on location and service, in a constantly evolving, organic network topology. A patchwork of dynamic ad-hoc blockchains adapted to the urban and distributed nature of the sharing economy. Such blockchains could run in isolation, serving a specific community, but would also offer a mechanism for transacting beyond this circle via an inter-blockchain communication protocol.

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WHAT ARE WE DOING NOW?

Monet

We are building MONET, an open-source infrastructure for distributed mobile peer-to-peer applications.

MONET is a public network architecture based on mobile ad hoc blockchains, where groups of people involved in any task or activity can effectively form temporary networks with their mobile devices, and coordinate themselves without delegating full responsibility to trusted third parties.

Monet

USE CASES

EVERY POTENTIAL FORM OF DECENTRALIZED
SHARING ECONOMY APPLICATION

Transportation

Transportation

Housing

Housing

Delivery

Delivery

Space rental

Space rental

DECENTRALIZED VALUE/MONEY
TRANSFER APPLICATION

P2P lending

P2P lending

Bill sharing

Bill sharing

Payments

Payments

Consensus machanism

Transactions
in multiplayer games

Check our first working application:

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ChatterBox

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GAMING INDUSTRY

We understand there are two ways to architect multiplayer games: P2P or client-server.

The P2P architecture does not require a central server. This makes it much cheaper and more viable for low-budget indie games. It is also more stable in the sense that it doesn’t happen that the server is having problems and no-one can play. However, it is hard to implement. It is much harder to create a solid P2P architecture than a client-server. It is also hard to prevent cheating and fault-tolerance.

Because of these limitations, many P2P games are still built with the client-server architecture. It is easier to implement and easy to prevent cheating. So although it is more expensive, game developers usually stick to the Client-Server model and accept that opportunity cost.

We are building a solution that will give enough reasons for game developers to adopt a P2P architecture and save costs. We provide a plug-and-play solution that takes care of all the difficult P2P stuff. Game developers implement the game, we provide the networking and consistency layer.

Babble offers the maximum level of fault-tolerance including malicious behaviour. As long as less than 1/3 of players are not broken or malicious, it is impossible to cheat.

Compared to similar efforts, it has very low networking overhead, soit is more suited for mobile deployments. Our platform can process thousands of commands per second with sub-second latencies.