Tag: minima

Minima Launches Innovation Challenge Campaign Compeition

Minima, an ultra-lean blockchain network that enables running a complete node on a mobile or IoT device, has launched an innovation challenge to spur more growth in its ecosystem.

In partnership with EdenBase, a UK-based fund and hub, the Minima innovation challenge seeks to push the blockchain’s potential for more sustainable, decentralized, immutable, and scalability solutions by using Minima Protocol.

Hugo Feiler, Minima’s CEO and co-founder said:

“We already have the largest network of complete nodes ever assembled. Running a full node on Minima is as effortless as running a messaging app on your mobile. Using Minima, developers can build decentralized apps on a mobile, with an addressable market of 2.5 billion users and no middlemen, miners, stakers or block producers.”

Minima’s node count recently experienced massive growth, making the network more resistant to cyber-attacks. Its blockchain’s design enables users to collaborate when building and securing the chain by running ultra-lightweight complete nodes on their devices. As a result, energy requirements are reduced, enabling applications to adhere to the ESG (Environmental, Sustainability, and Governance) goals.

Eric Van der Kleij, the co-founder of EdenBase, noted:

“Most crypto projects talk about moving to a decentralized system, but Minima was created as an ultra-lean, fully decentralized blockchain protocol that is community-owned and operated, which is why we are keen to support their mission to find some awesome use cases.”

The seven-week innovation challenge will be open to entries from across the globe, with teams showing long-term thinking getting a high chance of bagging the prize. The winner will get $20,000 in Minima tokens, whereas the two runners-up will receive $5,000.

Image source: Minima

Minima Launches Crypto Payment App with Minipay As Pilot Partner

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Minima on Tuesday announced that it has completed a pilot blockchain-based retail payment system with Minipay, a financial company offering an online payment system for digital content, goods, and services that are sold on the internet.

Minipay is a UK-based blockchain network that enables anyone to run a complete node on a mobile or IoT device. It is also one of the recent winners of Minima’s Innovation Challenge. The Minima Innovation Challenge was a month-long competition conducted from July to August this year. Blockchain.News reported the matter. The competition was designed to support and encourage individuals and teams to create brilliant and unique applications for the Minima Protocol, outside of what has already been conceived.

The partnership between the two firms will see Minima introduce a payment app on its blockchain network that will use Minipay’s Near Field Communication (NFC) to make retail payments an easy and seamless experience for Minima app users to pay for shopping via their smartphones.

Minipay’s payment app uses NFC technology to make payment experiences more seamless and easier for customers looking to pay for retail shopping by tapping their smartphones.

According to the announcement, Minima will leverage Minipay’s NFC technology to introduce a contactless payment app which connects to Minima wallets and uses QR codes for everyday purchases. Minipay’s technology will make Minima’s payment experience as easy and seamless as possible.

Minima said this will be done by offering the standard on-chain transactions with payments requested, by presenting a QR code for customers to scan over NFC technology in order to create, transact, and settle off-chain payment channels. Minima said once a payment channel is made, users can make transactions and payments instantly, even in the absence of an internet connection.

The latest development by Minima shows the continuing growth of cryptocurrency, which already has been integrated into Apple Pay and Google Pay payments apps. This reflects how mobile is driving alternative payment solutions and challenging retailers and businesses to keep up with how payments are evolving.

As cryptocurrency becomes more mainstream, retailers and businesses are considering the need to accept digital assets on mobile sites and apps or via crypto mobile wallets in stores.

The mobile implication of cryptocurrency plays out in two different ways. First, retailers and businesses are looking to accept digital assets directly from mobile sites and apps, which offer an easy payment method for customers who have Bitcoins.

The second outlet for crypto is mobile payments in-store. Retailers and businesses can accept crypto payments by integrating a QR code scanner or NFC terminal into their POS (point-of-sale) terminals. Consumers can then easily open their crypto mobile wallet to pay in-store.

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