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Blockchain spec
The current version of the MINT blockchain, there are two entities:
• Crypto asset GOLD — emission and burning are centralized. The volume of the issue depends on the number of pawn shop pledges stored in the blockchain.
• Token MNT(P) — it is determined that there will be no more than 10,000,000 tokens.
The MINT blockchain has three main types of transactions:
Crypto asset GOLD transactions from one address to another. The commission in GOLD is charged for the transaction. The amount of commissions is automatically calculated based on the number of MNT(P) tokens on the sender’s wallet according to the rules.
MNT(P) token transactions from one address to another. A commission fee of 0.02 MNT(P) is charged for the transaction.
Recording information of any type on the MINT blockchain can be paid for in MNT(P) tokens at a rate of 0.004 MNT(P) / byte.
Now we have a guaranteed blockchain data bandwidth of about 300 transactions per second. This is a very high data bandwidth and that’s enough for us. In the future we will be able to increase this figure.
All MNT(P) tokens received for data recording and as a commission for transactions, as well as GOLD crypto assets received as commissions go to the system wallet, and 75% of the total amount of these proceeds is distributed among the MNT(P) holders in Mint blockchain.
The distribution is in proportion to the MNT(P) tokens frozen at the address tied to the master node. MNT(P) tokens go to the same address.
We have launched the test MINT blockchain network in the summer of 2018. The blockchain kernel continued to be developed during the entire autumn and winter — master nodes and the development of additional infrastructure elements:
- Goldmint Lite Wallet — extension for Chrome browser
- Web — scanner of transactions, blocks, nodes, wallets
- KYC / AML procedure for buyers of GOLD crypto assets
- API for service integration — third-party wallets or data loaders (sent by request)
Spec
Base blockchain parameters
| Spec | Details |
|---|---|
| Asset Name GOLD | gold or commodity |
| Asset Name MNT | mnt or utility |
| Amount Of Asset GOLD | unlimited |
| Amount Of Asset MNT | up to 10 000 000 |
| Amount of fee per one byte of user data tx | 0.004 MNT |
| Max size of user data tx | 4096 bytes |
| Max transactions in block | 20001 (+fee transaction) |
| Blockchain state saving interval in blocks | 1000 in blocks |
| Minimum needed nodes for network tracking | 20 nodes |
Announce transaction pack parameters
| Spec | Details |
|---|---|
| Max transaction pack size for announcing | 100 transactions |
| Periodic announce transaction pack interval | 1 second |
| max network hops for announced transactions | 6 hops |
Synchronization algorithm parameters
| Spec | Details |
|---|---|
| Synchronization Get Next Block Digests Timeout | 6 second |
| Synchronization Get Block Timeout | 10 second |
| Synchronization Get Pool Transactions Timeout | 10 second |
| Synchronization retries count | 3 retries |
| Periodic synchronization interval | 15 seconds |
| Count of blocks for periodic fast synchronization | 5 blocks |
| Minimum needed nodes for blockchain synchronization | 7 |
| Needed proportion of correct answers to make a decision | 67% = 2/3 |
| Max blockchain height difference for synchronization algorithm starting | 5 blocks |
| Block count for ‘get-next-block-digests’ request | 100 |
Consensus algorithm parameters
| Spec | Details |
|---|---|
| Interval between blocks | 60 seconds |
| Timeout for start consensus event | 10 seconds |
| Minimum needed nodes for consensus algorithm | 15 nodes |
| Consensus close timeout | 50 seconds |
| Consensus master timeout | 20 seconds |