Hi, everyone! It is Daniil Lashin here, the lead developer at Minter.
On Friday, May 15, at 3:05 p.m. UTC, it was one year since Minter Mainnet had been launched.
Each month, the team shares its community update. If you read them, you see how much work is being done, and how the network and services become better every day. These reports, however, never answer the main question: what is next?
Ever since the early days of development, we have always been standing on a number of core principles, among which are usability, applicability, productivity, and liquidity. After the network went live, we have continued following them all the way up to the present day. As for what the future holds, you may find our road map below:
Minter Mainnet
In terms of ideology, Minter Mainnet has reached the state we envisioned for it. The code of the main network must be stable and solid like the foundation of a multi-story business center. All bugs will continue to be fixed, libraries updated, and performance improved. At the same time, the basic functionality will remain the same.
Speaking of major changes,
- A brand new API
- A better logic of validators’ operation, which will also increase the security of masternodes
- A possibility of decentralized decision-making on the network upgrades by the vote of validators
We have put all our efforts into developing those components of the network that will enable businesses to integrate Minter as a SaaS solution. That is how three modules came into existence: MinterEVM, MinterAPI, and MinterID.
MinterEVM
MinterEVM will operate as a Minter Trustless Service, allowing to perform two basic functions:
- Execute smart contracts written in Solidity (EthereumVM)
- Move coins across different networks (Minter, Bitcoin, Ethereum, and more)
For what? It is really simple: liquidity enhancement. Any coin the user gets in a giveaway from Binance they should be able to instantly swap for a Starbucks gift card — in a decentralized way, of course — and enjoy a free cup of coffee. Businesses are welcome to come up with their own logic exchanging coins for cards, but it will all be on-chain. The benefits of this approach are undeniable: speed, total security, and low development and operating costs.
MinterAPI
Technically, MinterEVM is a separate blockchain, and it is difficult for developers to communicate with it. To facilitate the management of MinterEVM, the MinterAPI protocol will be used.
- The user opens the project’s website and logs in
- The website sends a query to MinterEVM to obtain the state of token balance and displays it to the user
- The user requests token transfer and gets a QR code
- The QR code is scanned in an official Minter wallet and is then sent to Minter Mainnet
- MinterEVM requests, receives, and processes transactions from Minter
- MinterEVM sends the transaction along with the result back to Mainnet
- The website sees that transaction and shows the result to the user
Eventually, we get a smart contract system that adds another layer to Minter Mainnet and allows developers to transparently implement any logic they want.
MinterID
MinterID will help businesses prevent some group of “enterprising” users who are also extremely good at cheating from collecting all the rewards. With it, projects will confirm that only real and unique people take part in the event.
I did not forget about wallets and services and will cover them in the posts to come.
