In TON We Trust
From the very beginning of the Minter blockchain network development our primary goal has always been to design the most simple cryptocurrency, or digital cash. We went, however, even further—all coins issued in our network can be exchanged for one another, Bitcoin, Ether, and even USD.
We realized that for an efficient existence of our absolute-and-instant-liquidity environment, we would need the entire validators’ technical capabilities to solve the main task while assigning everything else to third-party blockchains. That is similar to how the Internet we are all used to operates—different services connect to one another, each solving a specific problem.
We have been closely watching various technologies and blockchains for the past few years and waited carefully for the moment when we could definitely say in what we believe and with whom we would like to integrate. Our choice fell on Telegram Open Network (TON).
The key difference that makes TON stand out is its team that has been changing almost every market it entered for years. The Durov brothers—Pavel and Nikolai—are not only the strongest developers of our time but also vocal advocates of freedom and independence. Only people like them can fully develop blockchain projects, thus expanding Satoshi Nakamoto’s idea of a new Internet with no censorship and manipulation and with equal access for everyone.
Today we announce the integration with TON as Minter’s key target for the year 2019. And we have already come a long way. Minter emerged thanks to DeCenter, the largest Telegram community covering the business of cryptocurrencies. Thousands of people help us improve the product and find the right solutions. Minter did also become the first-ever blockchain project to fully switch to Telegram Passport in conducting its KYC procedure. We will also hold the largest airdrop on Telegram—users will receive BIPs and Minter-based coins worth almost 1,000 BTC.
We link our future to TON and believe that with this network, we will be able to implement all of our ideas to the fullest. Below is a step-by-step approach we will take in 2019 to integrate Minter with TON:
Transfer of Any Minter-Issued Coin to TON
One will be able to transfer any coin from the Minter blockchain to that of TON. Minter network’s validators will initiate the transfer automatically. Once the transaction is accepted by TON’s validators, the coins will be available for use within the Telegram Open Network. The transfer of coins from TON to Minter will also be automatic (available only for those created in Minter).
The coin transfer feature will enable us to use the Telegram Open Network’s smart contracts. Everyone is doing their job to the best of their ability—we mint coins that can later be implemented in the TON’s smart contract environment, one of the most advanced ever.
Decentralized Username Registration
Once TON DNS launches, users will be able to use it for registering and managing usernames in the Minter network. Users will receive total control over their data in a trustless network.
TON Storage for User Data
Minter users will be able to store their data on the TON blockchain, benefitting from its security and immutability.
TON for Micropayments
With TON Payments, users will be able to send and receive micropayments in Minter-based coins with the help of the Lightning Network. It will be very useful for services that have to often transact in small amounts (for instance, an ad service charging for each view).
Exchange of Coins
WWe will become the world’s first-ever project to reach the exchangeability of its native digital coin (in our case, BIP) and TON’s base coin (GRAM). That is the reason why we have been actively working out the way to integrate with Telegram and also the reason behind our decision to conduct the KYC/AML procedure for all of our users. If BIP can be exchanged for GRAM (and the other way round), so can any other coin issued in the Minter network!
Today we have outlined only the major aims for 2019, but we are more than sure we will explore even more exciting ideas along the way!
If you are willing to become one of the first Minter network users, you may start the signup process via Telegram Passport.