An innovative solution for mobile blockchains – MONET

An innovative solution for mobile blockchains – MONET

Blockchain
July 3, 2018 by Leo Webb
6242
Innovative solution for mobile blockchains – MONET

It is hard to imagine modern society without mobile devices. People use them everywhere and devices have become a part of everyday life. The technologies are developing and influence the appearance and functions of mobiles. And innovative blockchain technology is not an exception.

Blockchains should solve the fundamental problems of trust and privacy by excluding middlemen in the p2p economy. However, blockchains possess their own unique problems:

  • low bandwidth,
  • the need to store large amounts of data,
  • waste massive resources for work and network synchronization.

As a result, current solutions are not suitable for mobile devices.

Mosaic Networks introduce a fresh idea to solve the existing problems – MONET

MONET is an open source network architecture for mobile blockchains on demand. It enables users to launch temporary blockchains on their mobile devices and to run decentralized, serverless DApps at a high speed.

MONET infrastructure

  • The MONET Hub is an always-on blockchain that provides infrastructural services for mobile blockchains. The hub consists of multiple ad hoc blockchains. These blockchains are dynamically formed by users with their mobile devices.
  • MONET is based on Babble: a pluggable consensus that helps to launch fast and reliable ad hoc blockchains.

MONET solves problems associated with traditional blockchains and helps developers launch mobile DApps for financing, gaming, transportation and other industries.

Prototype

To demonstrate the first use case for decentralized applications, MONET developers released Chatr. It enables multiple mobile devices to chat without a centralized server.

Development

Soon MONET is launching a stable release of the Babble consensus, with the version including a blockchain interface and mobile SDK.

MONET is also organizing a token sale to raise the required funds for future development of the MONET ecosystem.