Minima, the first cooperative, ultra-lean, blockchain network that enables anyone to run a complete node on a mobile or IoT device, has launched The Minima Innovation Challenge in partnership with EdenBase, UK’s first fund with a supergrowth hub and an ecosystem, investing in the next generation of companies, powered by frontier technologies.
Minima aims to become the most decentralised, immutable and scalable blockchain protocol on the market. In contrast to current Proof-of-Work blockchains, users collaborate to build and secure the chain by running ultra-lightweight complete nodes on their devices, minimising energy requirements, which in turn support the ESG (environmental, sustainability and governance) goals of applications. During the seven-week challenge, innovators will be encouraged to explore the potential of Minima’s decentralised blockchain. Entries are open to all, around the globe. Teams that show more long-term thinking, including ideas around how to productise their idea, will have a higher chance of winning.
Challenge teams will have access to educational resources and time with the Minima and EdenBase teams to brainstorm and ask questions to develop their ideas in Phase 1 (Ideation), after which the top ten projects will receive $1,000 in Minima tokens and be invited to the Coding Phase (Phase Two) to build their solutions and provide at least a Proof of Concept (PoC). Two runners-up will win $5,000 in Minima tokens and the winner of the challenge will receive $20,000 in Minima tokens.
The top five will be invited to feedback and mentorship sessions that will provide them with further technical and business support in developing the dApp use case and code. Token prizes will also be awarded to outstanding submissions.
Minima CEO and co-founder, Hugo Feiler, 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 decentralised apps on a mobile, with an addressable market of 2.5Bn users and no middlemen, miners, stakers or block producers.”
EdenBase co-founder, Eric Van der Kleij, said: “Most crypto projects talk about moving to a decentralised system but Minima was created as an ultra-lean, fully decentralised blockchain protocol that is community-owned and operated, which is why we are keen to support their mission to find some awesome use cases.”