What Is Mainframe Cryptocurrency?

Regardless that the mass media platforms that we use at present are extra decentralized than those accessible earlier than, it’s value noting that almost all of at present’s internet providers are constructed atop protocols, providers, and different instruments which can be vulnerable to centralized management, surveillance, and manipulation.

Mainframe is an all-new communications layer that’s not solely absolutely decentralized but in addition makes use of an incentive-driven operational mannequin. Because of its distinctive structure, Mainframe helps allow issues corresponding to:

  • Dependable packet routing
  • Safe packet supply
  • Packet holding
  • File storage

Moreover, the safety framework carried out by this service not solely gives useful encryption but in addition delivers a excessive diploma of resistance to censorship and surveillance.

From a technical standpoint, the platform consists of varied protocol and transport layers which were incentivized by token economies, together with software program improvement kits (SDKs) which permit the platform to simply combine with an enormous array of popular languages, working programs, peripheral gadgets, and sensible contracts/oracles.

Because of this, Mainframe permits for seamless token exchanges and delivers a excessive stage of interoperability with numerous standard blockchains.

Overview of the Service

  • Mainframe’s core structure contains a Kademlia-based peer-to-peer community that’s used to propagate and execute blockchain transactions.
  • The platform eliminates the underlying, geographically-traceable web transport layer most providers normally depend on by randomly assigning addresses to every peer or node.
  • It permits for a seamless alternate of financial worth between two or extra nodes throughout the community.
  • Mainframe makes use of a local foreign money to facilitate inner transactions.
  • The system additionally comes with a bunch of specifically tailor-made protocols above the central transport layer in order to allow and facilitate secure and safe communication.

Key Options

To start out with, every node throughout the Mainframe ecosystem exposes numerous P2P service interfaces for utility layers to name. These embody interfaces for blockchain transactions, file storage, and knowledge providers.

It’s also value mentioning that every of those particular person P2P providers is offered solely by friends working in incentivized cooperation with each other—with out the necessity of any middleman or centralized administration infrastructure.

Conceptual diagram of a node throughout the Mainframe ecosystem

From a safety standpoint, Mainframe gives protocols for one-to-one and one-to-many encryption. What this mainly means is that every node throughout the Mainframe ecosystem has an uneven key pair related to it. This key’s meant to decrypt packets meant for that individual node.

Packet encryption is without doubt one of the core points of Mainframe’s transport protocols, and to utilize the system, this step can’t be circumvented.

A simplified overview of the Mainframe platform

Lastly, Mainframe permits nodes to forestall any international actors from accessing native blockchain knowledge through using configurable darkish routing mechanisms which can be based mostly upon Holbrook’s work on the PSS protocol. Darkish routing is a technique by which knowledge packets are routed to every node whose deal with matches the partially disclosed vacation spot deal with.

How It All Works

As talked about beforehand, Mainframe employs a governance mannequin that’s based mostly on the idea of incentivization. This mannequin is used to incentivize numerous necessary providers offered by nodes within the community, together with:

  • Incentivized Packet Routing: On this service, peer nodes enter into an settlement to supply providers to at least one one other. That is finished by conserving shut tabs on the bandwidth that has been utilized by every node individually—primarily by means of using the SWAP protocol.
  • Incentivized Packet Supply: Mainframe incentivizes packet supply throughout many various peer-to-peer hops throughout the community by means of cryptographically licensed supply.
  • Incentivized Packet Holding: Even within the case of some nodes being disconnected from the first community, Mainframe is ready to ship common operability as a result of the native infrastructure is solely based mostly on providers offered by nodes within the peer-to-peer community.
  • Incentivized File Storage: Mainframe’s incentivized file storage layer makes use of the ‘swear and swindle’ phases of service provision (along with the SWAP stage utilized in packet routing). Storage nodes are incentivized by incomes tokens when file chunks are requested by different nodes.
  • Incentivized Information Companies: Regardless that file storage helps many use instances, for real-life features it may be fairly inefficient to need to load and save a big file every time small adjustments are made to it. For these sorts of use instances, Mainframe gives incentivized database providers.

In regards to the Workforce

Mick Hagen is the CEO and founding father of this mission. He’s a Princeton CS dropout and can also be the particular person behind Zinch—a tech startup that was later acquired by Chegg. Along with all this, Mick is an energetic angel investor and has mentored many individuals inside at present’s burgeoning startup sector.

Carl Youngblood is the CTO of Mainframe. In line with his on-line bio, Carl has been working as a full stack engineer for almost twenty years and has specialised within the improvement of extremely scalable internet purposes. Having been concerned with blockchain know-how since its early days, Carl was one of many first buyers in Ethereum. He has a Masters in CS from the College of Washington.

Lastly, Brad Hagen is the pinnacle of enterprise improvement and gross sales for this enterprise. He describes himself as an skilled entrepreneur whose core focus lies inside areas corresponding to:

  • Gross sales
  • Biz dev
  • Biz technique

Brad has additionally been part of numerous different profitable tasks previously together with:

  • Zinch—Co-founder
  • Lendio—VP
  • Studio/Brandr—Co-founder

Token Financials

Having been available in the market for under every week, it’s troublesome to foretell the way forward for the MFT cryptocurrency.

MFT lifetime efficiency knowledge (courtesy of Coincodex)

As might be seen within the chart above, MFT entered the market at a worth of roughly US$zero.02 per token. Nevertheless, after experiencing a slight achieve of round 5-7% on July 9, the value of MFT has dropped and presently stands at $zero.017.

On the time of writing, MFT possessed a market cap of $36.95 million together with a circulating provide of two.16 billion tokens.

Ultimate Ideas

With Mainframe trying to introduce a web3 platform that’s not solely immune to trackers and hackers but in addition minimizes censorship, it could not be stunning to see this service featured as among the finest blockchain tasks of 2018.

If you want to start out investing in Mainframe, MFT buying and selling pairs are presently accessible on Binance, Bancor and IDEX.

About Tom Greenly

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