About MONET

PROBLEM

CURRENT P2P ECONOMY IS CENTRALIZED

Peer-to-peer economy relies almost exclusively on trusted third parties acting as orchestrators. While the system works well, it suffers from the inherent weaknesses of any centralized model: users are absorbing the cost of mediation and forfeiting privacy, transparency and control over their data and computation.

CURRENT DISTRIBUTED NETWORKS ARE SLOW

True peer-to-peer economy is localized and lives on mobile. The implementation of localized services on a global public blockchain network is currently inefficient and unscalable.

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SOLUTION

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.

Read our whitepaper
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ECOSYSTEM

MONET

MONET brings decentralization and easily scalable blockchains to mobile devices. Based on a powerful consensus system, Babble, MONET ad hoc blockchains can process thousands of transactions per second with near instant finality. Since blockchains are ephemeral, any off-shelf device can participate in the blockchain. The result is no middlemen fees, no centralization risks, no sluggish blockchain speed and no cost compromise.

ECOSYSTEM FOR AD HOC MOBILE BLOCKCHAINS

Mosaic Networks is a company that develops open-source modular blockchain software. Babble consensus, and the accompanying SDK

Babble is a leaderless, asynchronous, Byzantine fault tolerant protocol based on Hashgraph consensus.

EVM Wrapper - a light-weight wrapper for the Ethereum Virtual Machine to run Smart Contracts backed by the Babble consensus engine.

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.

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ABOUT BABBLE PROTOCOL

Inter blockchain

INTER-BLOCKCHAIN COMMUNICATION

Babble allows MONET blockchains to transfer assets and communicate amongst each other and with other Internet-of-Blockchains networks, like Cosmos.

Consensus machanism

CONSENSUS MECHANISM

Babble is a leaderless, asynchronous, Byzantine Fault Tolerant protocol based on a "gossip about gossip" consensus algorithm.

THE KEY COMPONENTS OF MONET ARCHITECTURE ARE:

  • Multiple ephemeral blockchains dynamically formed by users with their mobile devices;
  • Inter-Blockchain Communication, enabling these blockchains to speak to one another;
  • MONET Hub, an always-on network, that provides optional infrastructure services to the first applications and ad hoc blockchains.

Monet Ecosystem

MONET HUB

MONET Hub is a special kind of blockchain in MONET as it is always on. The Hub provides optional infrastructure services for the first applications on the network. Multiple independent nodes run by validators engaged in a Proof of Stake consensus mechanism comprise MONET Hub. Anyone, who is willing to participate in the consensus and stake some voting tokens, can become a validator in MONET Hub.

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Inter Blockchain Communication

By design, blockchains contain the irrefutable cryptographic evidence of the events that took place in the network. The role of IBC is to package this information in a digestible format and to define methods for verifying on one chain that a transaction took place on another chain. This makes it possible for blockchains to transact outside of their closed circles and for participants of these blockchains to transfer assets and data across application boundaries.

Ad hoc mobile blockchains enable decentralized server - less functionality for DApps. Physical devices become the nodes of these blockchains by running an application that uses a MONET- compatible consensus module.

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BRINGING IT TOGETHER

  • 1. MONET creates an infrastructure for distributed mobile p2p applications. Its architecture aims to power the sharing economy by bringing blockchains to mobile.
  • 2. MONET consists of multiple ad hoc blockchains appearing and terminating as applications’ participants interact with each other.
  • 3. Inter-Blockchain Communication facilitates interoperability between these blockchains.
  • 4. Finally, the MONET Hub, being an always-on blockchain, allows distributed applications to be jump started with the use of the existing infrastructure services.

USE CASES

EVERY POTENTIAL FORM OF DECENTRALIZED SHARING ECONOMY APPLICATION

Consensus machanism

Transportation

Delivery

Consensus machanism

Housing

Space rental

DECENTRALIZED VALUE/MONEY TRANSFER APPLICATION

Consensus machanism

P2P lending

Payments

Consensus machanism

Bill sharing

Transactions in multiplayer games

Let’s chat on Telegram and discuss how you plan to use MONET Network

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