MONET is an open network architecture for mobile blockchains on demand. A blockchain on demand means that participants of a certain activity can form a temporary network for the duration of their interaction without a need of any centralized third party.
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MONET.network is building a public network architecture based on mobile ad hoc blockchains. The project’s goal is to bring blockchain to mobile applications, where users can coordinate themselves without delegating full responsibility to centralized third parties. The founders believe that the Monet ecosystem will ultimately empower a sharing economy that is void of expensive, centralized third party facilitators that users are required to trust with the security of their data and information.
The MONET.network — an open network architecture for mobile ad hoc blockchains — enables groups of individuals involved in common tasks to form temporary connections, or networks, by using their mobile devices to coordinate themselves. This all takes place devoid of the need to rely upon third parties to handle their data. By creating an infrastructure for distributed mobile p2p applications, Monet is attempting to bolster the sharing economy by deploying blockchains to mobile.
There are many different ways that mobile ad hoc blockchains can be applied to real life user interactions: delivery, housing, office space, payments and loans, professional and personal services, pre-owned goods and custom products, networking and learning, etc.
Transportation: Monet could enable a fully decentralized Uber that would cut out the expensive service provider intermediary via ad hoc blockchains.
Finance: Monet could allow for the creation of sharded cryptocurrencies, where the shards are mobile. Groups of individuals could withdraw funds from a main ledger, deposit into a temporary ad hoc blockchain, transact exclusively among themselves and then return to the main ledger.
Gaming: Monet could provide a free framework for game developers to connect with a network of users already equipped for p2p coordination, eliminating the need for a centralized server to coordinate multiplayer game participants.
The market potential for the MONET.network’s mobile, on demand blockchains spans across many different industries: finance, transportation, networking, etc. These industries’ user bases all interact via third-party applications, and it is the MONET.network’s work that is crucial to breaking the reliance upon expensive centralized services that compromise the security of user data.
MONET.network uses multiple ephemeral blockchains that users create via their mobile devices. Babble — a pluggable consensus mechanism suitable for mobile deployments — and Monet Hub — a perpetually on blockchain that supports the ecosystem and provides infrastructure for the first applications on the network — are key components that make it possible to create mobile ad hoc blockchains. The project’s whitepaper details how the Babble consensus and Monet Hub blockchain interact with one another.
Babble. This powerful consensus mechanism takes advantage of an asynchronous DAG protocol, combined with the benefits of a blockchain’s linear data structure in order to achieve: low latency, high throughput, fault-tolerance and pluggability. Babble-powered blockchains can seamlessly interface with any application, and communicate with other blockchains via Inter-Blockchain Communication protocols.Babble SDKs. This is what makes it easy for Babble to broadcast messages directly to other network participants, and come to a consensus on an order of events. This function allows the MONET.network to replace centralized servers.Monet Hub. The first of its kind and a unique type of blockchain in the Monet ecosystem. It is an always-on network that enables inter-blockchain communication.Babble Core. The core of Babble is based on an asynchronous, Full Information Protocol, which like all FIPs involves three operations: 1) Gossiping and constructing the Communication Graph, 2) Determining which events will eventually be common knowledge, 3) Sorting events with a deterministic function.EVM-Babble. A wrapper around the Ethereum Virtual Machine that is specifically designed to plug into Babble.
The key components of MONET architecture are:
Multiple ephemeral blockchains dynamically formed by users with their mobile devices;Inter-Blockchain Communication, enabling these blockchains to speak to one another; andMONET Hub — an always on network that provides optional infrastructure services to the first applications and ad hoc blockchains.
The MONET.network is powered by the Mosaic Networks, a London based company that produces open source software.
Martin Arrivets, Co-founder and CEO of Mosaic Networks. Earned a bachelor’s degree in applied mathematics from Université Paris-Dauphine, as well as a master’s degree in financial mathematics from the University of Chicago. He is a software developer in blockchain and telecommunications; creator of Babble and EVM-Babble.Giacomo Puri Purini, Co-founder and CFO of Mosaic Networks. Earned a bachelor’s degree in business administration and management from the University of Bocconi, as well as a master’s degree in financial mathematics from Columbia University. He is an entrepreneur with a successful exit who worked closely with VC funds in the Boston area.Kevin Jones, Software developer at Mosaic Networks. Earned a degree in engineering from the University of Oxford. He is a blockchain developer with experience in radar signal processing.
Advisory and Partners
The MONET.network’s advisory board includes:
Mark Stuart Day, Visiting Lecturer at MIT and former chief scientist at Riverbed Technology. Earned a Ph.D. from MIT.Mauro Martino, Founder and manager of IBM Research AI’s “Visual Artificial Intelligence Lab.” Professor of Practice at Northeastern University in Boston, and former research affiliate with the SENSEable City Lab at MIT in Cambridge.Ronan Lynch, Partner at Blocksmiths and co-founder of the open source Haskoin project in 2013. Earned a 1st class bachelor’s degree in mathematics and theoretical physics from Trinity College in Dublin. A pioneer in developing Bitcoin technology.Abdi Hersi, Founder of Vidette. He has a background in development economics, and is a specialist in the entire Hedge Fund IT Infrastructure and development function.