Minima, a mobile-based blockchain protocol, has been successful in establishing over 120,000 nodes in a total of 183 countries linking via mobiles and IoT devices. With this number of nodes, Minima too is now classified as a decentralized blockchain leaving Bitcoin behind in nodes count.
Minima was able to achieve this widespread setting up of nodes within only a single year span, due to its technological infrastructure, as credited by Minima itself. This facilitates the exchange to operate on any sort of device which in return reduces the size of its blockchain.
Therefore, Minima need not have a full-fledged server to operate a node, which is not the case with other blockchains. Rather, a smartphone or IoT device can very conveniently act as a server for a node. For this, the nodes only cache the status of the blockchain, along with the transactions.
As per the firm analysts, clients just need to download the application and they are all set to collect incentives even before Minima launches the Mainnet. It is worth noticing that there have to be at least one million working nodes for the company to launch it.
In contrast to, let’s say, Bitcoin, Minima’s network clears away from any such space-occupying factors by eliminating miners or operations that need control. Likewise, Minima works on various plans to be able to shrink down the whole of its blockchain that fits into these remote devices. Each node safeguards its data respectively along with a heavily compressed and frequently maintained bundle of the blockchain ledger. This is to make sure that the blockchain remains closely packed.
According to Minima, this way the arrangement results in an entirely decentralized network that’s more stable and easy-going than other designs. With such a large number of working nodes, it’s quite impossible for an outsider to take the authority of the system. Additionally, Minima ensures that this design makes it far more scalable and inclusive.
“Only when everyone can run the same version of the blockchain, with no hierarchy, can people truly enjoy the benefits of complete decentralization-empowered freedom and prosperity,” as declared by Minima Founder and Chief Executive Hugo Feiler.
Gargi Sinha is working as Senior Journalist at Confea. She has completed her Masters in Journalism from Delhi University. She has interest in crypto and blockchain technology.