- Mun is a Layer-1 blockchain based on Tendermint and Cosmos software development kit (SDK).
- Its ecosystem enables cross-border transfer of money with almost zero transaction fee, making it cost-efficient.
Mun is a Layer-1 ecosystem based on the proof-of-stake (PoS) consensus mechanism. This blockchain has brought significant innovations in multiple industries, particularly in the sector of global payments, where it offers enhanced security, transparency, and efficiency. Its main goal is to transform the traditional ways of sending and receiving money.
Introducing Mun Blockchain
This blockchain aims to reduce the challenges of conventional payment, such as transparency, long processing time and high transaction fees. By leveraging blockchain’s functionalities like immutable nature and decentralisation, Mun enables pathways to seamless cross-border payments and streamlining global remittance.
It uses MUN coins and assets based on it, such as M-EUR, M-USD and M-GOLD. Its transaction processing boasts a high throughput of 10,000 transactions per second, depending on each node, compared to the same project XRP which can process 1500 TPS. It announced a total supply of 20 million MUN coins allocation, with 100 million coins reserved for Airdrop Q4/2022. MUN can also be earned via creating a node.
Mun Blockchain’s Core Features
Speed and Cost Efficiency
This blockchain’s consensus mechanism results in swift and cost-effective transactions. By reducing transaction fees and reducing intermediary elements, individual users can process cross-border payments at affordable prices seamlessly.
Transparency
Each transaction on this blockchain is recorded on a public ledger, allowing users to track and validate real-time fund transfers. This transparency and traceability empowers user trust and mitigate the risks of frauds.
Privacy and Security
Due to its rigid cryptographic algorithms, Mun ensures more private and secure transactions. Decentralisation helps in reducing data tampering risks and invalid access. This provides users and institutions a high level of security.
Decentralised Governance
This network follows a democratic approach enabled by a decentralised governance model, ensuring better community engagement and long-term sustainability.
The MUN Blockchain architecture
The MUN Blockchain is built on Tendermint and the Cosmos SDK, both are well known blockchain frameworks, providing it with security, scalability and interoperability, thus empowering global remittance.
The MUN Blockchain network consists of the following elements:
- Nodes: The Mun Blockchain network is composed of nodes, which are computers that participate in the network and run the Mun Blockchain’s software.
- Smart contracts: These are automated self-executing conditions stored on the blockchain, used to automate multiple processes involved in transferring money.
- Mun tokens: MUN tokens are the native cryptocurrency of the Mun Blockchain, used for paying transaction (gas) fees and accessing other services on this blockchain network.
MUN Tokenomics
MUN is the native cryptocurrency of Mun blockchain. The coins and assets based on MUN like M-EUR, M-USD and M-GOLD, are used as remittance options. Its transaction process is highly efficient with 10,000 TPS, surpassing XRP with 1500 TPS. Its total supply is 20 million MUN coins, while 100 million coins reserved for Airdrop Q4/2022.
Conclusion
MUN blockchain represents an ambitious vision of innovating and transforming global payment with leveraging the power of blockchain. Its aim is to address the existing challenges of conventional methods by providing a platform that’s backed by Cosmos SDK and Tendermint. It will be exciting to see whether MUN can mark its existence across this vast blockchain network and revolutionise the crypto landscape.
