MONET: Ecosystem

ECOSYSTEM

MONET

MONET is designed to solve issues of decentralization and scalability. Based on a powerful consensus system, Babble, with ad hoc blockchains MONET 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

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

CONSESNSUS 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 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 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.

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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