Stages of Launching MBank, the Validators’ Bank

As we mentioned earlier, MBank—the bank of validators—will be the critical feature of the network. With its help, validators will be able to sell the BIPs they’ve minted placing large sell orders, and users will have the opportunity to sell any coins at a market price.

The launch of the system will proceed in four main stages:
1. Before the Mainnet goes live, validators (organizers of pools) will be able to transfer the right to request BIPs to any user through the Early Access Campaign website (minternetwork.com). The price will be fixed at 1 BTC for 100,000 BIP.
2. Once the main network is launched, validators will be able to place sell orders of 100,000 BIPs—which they will have minted using their personal funds—at a fixed price (1 BTC).
3. After having tested the first two stages, we will enable each validator to set their own prices for coins and determine the size of the order.
4. Any user will be able to use their wallet to exchange any coin for BTC, ETH, and even USD, as well as for the withdrawal to a bank card.

Here is the logic behind our plan—we will first learn to execute concrete trades outside of the blockchain, then on the blockchain, then with different prices, and finally with fiat for every user.

The key operations with MBank will be accessible to users on minternetwork.com after passing KYC, so hurry up.

https://minternetwork.com/invite/helloworld

Today and tomorrow, we are presenting at CryptoGames in Minsk. Come visit us! http://cryptogames.events/tickets

Halfway through—we’ve sold over 50% of all BIPs 🤘

KYC Issues?

If you experience problems with passing the KYC procedure, please do not hesitate to contact our technical support specialist at kyc@minternetwork.com

They will then manually review your application and activate your account!

You may also refer to https://medium.com/@MinterTeam/solving-kyc-related-issues-34aaf846a602

New bonuses have arrived!

We held a negotiation round with funds and selected a short list of those with whom we will work. As of today, funds have applied for requesting almost 1 000 BTC worth of BIP.

We will allow them to buy in starting October 25, with no bonuses or any other special conditions, which means 100 000 BIP at 1 BTC.

To provide our faithful friends—members of our network—with an additional opportunity, we decided to introduce a 20-percent bonus on all balance replenishments made starting October 19, 21:00 up until October 31, 18:10 (UTC).

We believe that real people are more important than large funds as they create a network effect by exchanging coins with one another.

What bonuses can you receive before the Campaign ends?
• 10% on all BIPs your friends request using your invite link
• 100 BIP for each of your friends signing up and passing the KYC check
• Bonuses offered by pools (if you are a member of one of them)
• 50% on all BIPs you request, provided you have contributed significantly to the Minter project promotion

Once the Campaign has finished, MBank will start operating right away (https://news.1rj.ru/str/MinterTeam/39)!

“Money is the most undisrupted space the world has seen in the past 40 years,” said Eugene Gordeev, product owner of Minter and a passionate Bitcoin evangelist. “Today, people are so well-connected to the P2P economy through stand-alone, self-employed businesses like Airbnb hosts, Uber drivers, YouTube bloggers and Etsy crafters, to name a few. Now, the only thing missing is private money issued and managed by those who want to make their products and services even more special.”

Read More: https://bitcoinmagazine.com/articles/minting-future-cryptocurrencies/

Why did we choose Tendermint?

When we were starting to work on Minter almost two years ago, we decided that we would use only the industry’s best practices. In other words, if we can use someone else’s code—especially that written by strong teams—we should definitely do that. We aim to provide our users with the most efficient blockchain and not to collect awards for programmers. At first, we bet on Ethereum code because many popular projects had already been using it at the time. After having created a prototype last fall, however, we saw numerous limitations the engine put. We then conducted an in-depth market analysis and found a perfect candidate for our core—Tendermint!

Tendermint is an open-source engine for blockchain projects.

It allows the members of the network to reach a consensus really fast. Using Tendermint, a blockchain developer can be assured that all active nodes store same sets of transactions, balances, accounts, etc. Thanks to its own consensus algorithm, Tendermint allows for the processing of tens of thousands of transactions per second. The engine itself is written in Golang but lets programmers use any programming language to develop their blockchain.

As of now, over 70 projects—including Cosmos SDK, Cosmos Hub, 0x Project, and OmiseGo—use Tendermint.

The Minter blockchain also uses Tendermint and the DPoS consensus algorithm for high network performance.

Everything we develop is 100% open. Visit our GitHub to view the code and contribute: https://github.com/minterteam

If you got any questions, you may ask them in our chat: t.me/joinchat/EafyERJSJZJ-nwH_139jLQ

Minter mining is a real revolution:
- No hardware needed;
- Use any coin issued on the network;
- And any amount of funds;
- Rewards are distributed to delegators and validators every minute;
- Proportionally to their stakes.

There are three simple steps:
- Choose a validator;
- Transfer your stake to a public address;
- Monitor your rewards every minute.

For more detail, check out one of our how-to articles — https://medium.com/@MinterTeam/how-to-become-a-minter-network-delegator-d0c2ee918909

🎙 Check out Crypto Quantic Ph.D’s talk with Dan, our community manager! Interviewed by a gifted trader and top-notch Medium author, Dan sheds light on the most daunting obstacles the crypto space faces on the road to mass adoption and breaks down how the Minter network could help overcome them.

https://medium.com/@ImagineTraffic/unfazed-by-the-crypto-bear-market-this-team-aims-to-be-the-first-to-integrate-with-the-telgram-7a7c909263c9

September 25 saw the end of the second Minter hackathon dedicated to the launch of decentralized exchanges (DEX). In just a week, the development teams had to create a convenient interface for monitoring the price of coins on the Minter testnet, as well as provide a simple tool for buying and selling them directly from users' wallets . . .

Continue Reading! »

We are glad to announce that our European company Minter Global has started operation. It is Minter Global that will become one of the MBank’s brokers, allowing you to exchange your BIP for crypto/fiat and vice versa. We will enable holders of euro-denominated bank accounts to almost instantly withdraw their funds via IBAN.

Following our strategy, we will first cover those countries which have a clear regulation of the cryptocurrency space.

https://minter.global/

How does one set up and run a masternode? What are the real numbers for different architecture configurations? How much would it all cost? Click the link below to find out:
https://minter.link/masternode-costs

The registration procedure has become much faster, and you can now buy BIP from the organizers of the pools (the first step in launching MBank): https://minternetwork.com/invite/new
P.S. For each friend who signs up using your invite link, you’ll receive 10% of the amount they request.

The launch of the Minter main network is not far off, which means it is time for all BIP holders to think about whose node to delegate their coins to. Check out a guest post explaining why one should be attentive to statistics and other indicators of the validator in the testnet.

Learn More Now! »

Mainnet launch ETA: February 1, 2019

We received confirmation that our E.U.-based company Minter Global OU had been granted crypto license — https://minter.global

Part of the MBank, this company will enable the participants of the Minter network to deposit and withdraw fiat funds!

The U.S. Dollar on the Minter Blockchain

Good news, everyone.

Once the Minter network starts operating, our team will launch an algorithmic stablecoin pegged to the USD. After the coin has gained enough support, it will obtain the same features as all other Minter-based tokens—five-second confirmation times, low transaction fees, and exchangeability with BIP and all other currencies issued on the network.

Fixed at $1 apiece and easy to understand for everyone, this coin will be the Minter network’s main point for entry and exit.

Look what we got for you—a web wallet for Minter! Use whichever device you prefer: https://wallet.beta.bip.to/

The product is currently being actively beta tested!

Good news, guys!

Tendermint has finished development and is now undergoing the final code audit (https://cosmos.network/roadmap).

We have also finished working on the Minter blockchain core. There are two Testnets ahead: the first will introduce adjustments to the mempool logic, and the second will be the final one running on Tendermint v1.0. After the final Testnet has been operating stably for a few weeks, we will launch the Mainnet. 🚀

“I will transfer it to your account”—this phrase is heard more and more often and can compete with the question about the availability of a store’s bonus card that a buyer gets asked when making certain purchases. Applications for smartphones have enabled many people to make money transfers in a few clicks without being physically present in a bank. Modern financial enterprises organize development teams to create mobile banking solutions and wallets accessible to all users. DeCenter compared two online funds transfer applications: Blockchain.info and BIP Wallet. We want to clarify that it is the functionality of the programs that is under review, their simplicity, accessibility, and speed of work regardless of monetary units.

Learn More Now! »