Mikron Manna
Coin generation in a No-Mine Block-Lattice currency
The year 2018 was full with discussions about the shortcoming of ‘classical’ blockchain networks (Bitcoin and co.) — speed, throughput, fees, energy consumption — and numerous alternatives have come to light. One novel approach replaces a chain of blocks with a networks of blocks; in particular Nano — the inspiration for Mikron — has a block lattice architecture, offering new answers to consensus, scalability, and energy consumption. Transactions are near-instantaneous and have zero transaction fee. In particular, there is no mining at all in these networks.
No mining means that some mining-related problems become non-issues: for example, there are no transaction fees, and no high energy consumption. On the other hand, it also has some shortcomings: there is no inherent incentive for running nodes, and there is no way for continuous coin generation.
In the Mikron network, we have devised Manna as a solution for these shortcomings. Manna is a solution for continuous coin generation in block lattice with no mining. It is a novel answer, featured only in the Mikron network.
So what is Manna, what does it solve, and how?
Manna is a continuous coin generation, that can provide funds for incentivizing contributions to the network and infrastructure, in a way that is compatible with the block lattice architecture.
Manna is pre-programmed, time-based coin generation. Technically, it is an amount added to the genesis account each day (more exactly, credited when a transaction occurs, computed based on a formula). This is a shared rule, followed by all network nodes, and transitive checking of blocks in the lattice ensures that it is not possible to circumvent it.
In the Mikron network, the progressively generated coins are used for incentivizing running nodes (Node Reward program) and for operating the network. While not exactly the same as node reward through mining — manna is generated into one central-managed account — it offers a solution for incentivizing. This is an important element of building a strong community around Mikron.
Find the Mikron node on GitHub: https://github.com/mikroncoin/mikron_node
