MNNT Maker Protocol
Scaling Ethereum - the MNNT Solution
At the heart of the MNNT Maker Protocol is our zero knowledge rollup scaling engine developed entirely in-house called MalaiaZK.
In cryptography, a zero-knowledge proof or zero-knowledge protocol is a method by which one party (the prover) can prove to another party (the verifier) that a given statement is true while the prover avoids conveying any additional information apart from the fact that the statement is indeed true. In a zk-rollup, users lock assets in an on-chain smart contract: these assets are “deposited” into L2. These assets can be traded using L2 transactions, which are ordered by an “operator” entity into a consistent historical sequence. Transactions are then grouped into a “batch”, and a proof is generated for the validity of this batch. The proof is then published on-chain and verified by a smart contract which updates the on-chain state. Using this on-chain state, users can unlock their assets (“withdrawing” from the rollup).
Ethereum, in order to preserve its security and decentralization, maintains a low throughput when compared to traditional databases: between 5 and 15 transactions per second (TPS). The massive growth of activity on Ethereum's network has resulted in network congestion and slow transaction times. This increase in activity has been followed by an increase in the price of gas leading to periods where transacting at all on chain became uneconomical for many users, pricing out developers and traders.
The current user experience on the Ethereum blockchain is expensive and complicated. High gas fees, network congestion and slow transaction speeds have created major barriers to mainstream adoption of NFTs or blockchain gaming. Other solutions or existing blockchains attempt to improve this user experience by sacrificing and/or compromising on user asset security or network decentralization.
Similar barriers exist for developers looking to build on a blockchain. Developers attempting to develop a blockchain application spend majority of their time creating and configuring blockchain components. This takes away their time and efforts from developing engaging and unique experiences for their users supported by a gaming model that incorporates true asset ownership. As this area is so new, almost no blockchains are offering developers the tools normalized in traditional applications such as simple APIs, platform specific SDKs, and pre-built infrastructure. This situation creates a major barrier to entry for new projects looking to apply blockchain based technology to their projects or games.
MNNT believes developers, NFT enthusiasts and blockchain gamers alike should not have to compromise between the security and decentralization of Ethereum, in order to create a top tier experience for their users. This is why MNNT is creating a state of the art maker protocol for NFTs and blockchain gaming which allows projects to build upon a layer 2 Ethereum protocol with a seamless developer and user experience. MNNT achieves this through the following:
- 1.Zero Knowledge (ZK) Rollup - Rollups enable cutting edge scalability and top tier user experience while retaining the underlying security and decentralization of Ethereum. Roll ups work by batching large numbers of transactions, generating a “validity proof” for those transactions, and then submitting that proof to an L1 smart contract. MNNT's ZK rollup allows for thousands of NFT transfers, trades and mints per second, meeting and exceeding the scale required by mainstream NFT projects.
- 2.To make building blockchain and NFT applications easy, MNNT enables this scaling engine with a set of REST APIs. On the MNNT Maker Protocol, every interaction done on chain like minting, transacting, trading, buying, selling etc., is as easy a simple API call. Converting complex asynchronous blockchain interactions, which can take minutes or hours, into synchronous REST API calls, is an enormous upgrade to the existing blockchain solutions. Without the need to interact directly with smart contracts, new entrants in the space, from startups to established gaming or content companies can launch projects faster offering their users a wonderful user experience.
- 3.Platform and programming language specific software development kits (SDKs) that enable partners to seamlessly integrate with MNNT Maker Protocol. A typescript SDK implementation will be available that can be used to integrate the MNNT Maker protocol easily into websites. The SDK allows for typed access (think user password) to MNNT's APIs, regardless of the platform. In the future, customized SDKs will be offered for all common programming languages, as well as development platforms like Android, iOS, Unity and Unreal. Combined with the APIs, the MNNT SDKs will allow our partners to easily build projects backed by the security of the blockchain.
- 4.Many companies are exploring the new paradigm of blockchain and NFTs. However, questions about regulatory implications of NFTs such as AML/KYC, intellectual property protections, and Securities and Exchange guidelines often times create a hesitant barrier for these companies to enter the space. MNNT is focused on providing at protocol that is fully legally compliant. MNNT wants to become a trusted partner of any company looking to take advantage of the security and advantages of the Ethereum blockchain creating an experience as simple as shopping online without compromising security and decentralization.
The MNNT Maker Protocol enables the freedom of a gas free marketplace where users can transact freely, with the security and decentralization of the Ethereum blockchain without the fees and slow transaction speeds. Allowing a free flowing transfer of digital assets as intended in a player owned and operated blockchain gaming economy.