14th May 2020
Minima In Sixty Seconds
Whatever anyone has told you...
The only true and indisputable value proposition of Blockchains is anti-censorship.
It's not transactions per second, it's not clever scripting, it's not convenience or even privacy. We have ALL that already - better faster cheaper with VISA.
Anti-censorship is achieved through decentralisation.
If you are not decentralised - EVERYTHING else you build on top of your chain is useless.
A chain is only as strong as its' weakest link - just as a system is only as decentralised as its' most centralised component.
Every single current blockchain is totally centralised.
The financial incentives in Mining always lead to economies of scale and massive centralisation.
Once you own - or can coerce - 51% you can censor whatever you like.
To create a truly decentralised protocol - every single participant on the network has to be an equal - both fully validating and fully involved in the construction of the blocks. Everyone.
Minimas' protocol is so compact that everyone can run a complete node on their phone.
Minima does not financially incentivise mining. You mine your own transactions. All the work is added together to make blocks. All the blocks are added together to make a chain.
Minima is the only truly decentralised base layer protocol for censorship-resistant value transfer.