Minexcoin is built on bitcoin code...
Changes include:
MinexCoin (MNC) is based on Bitcoins source code. We chose bitcoins code
base due to its proven reliability. In order to accelerate transactions, block
size was increased to 2 MB while block time was reduced to 2 minutes and
45 seconds
Any other changes to code? Network?
With such a goal as both reserve currency (store of value) as well as daily payment use (transactional currency), how will you manage scaling vs speed issues longterm?
Problems solved with this project:
- volatility via autonomous smart bank
- planned market place and exchanges for easier interaction
- what else?
Regarding Minexbank:
MinexBank is a closed source app, though some of its features are accessible to
users via the official website. At MinexBank, users may browse existing interest
rates for parking payments, and file up a request to receive interest for coin
parking operations. In order to protect the assets, the banks reserve is stored in
cold wallets
At present stage, MinexBank uses hybrid governance, which implies that the
algorithms decisions are monitored by a group of professional economists. At
early phases of the systems operation, the team reserves the right to introduce
amendments to the algorithms parameters in order to promptly prevent emerging
risks and guarantee steady work of the entire system.
Once the algorithm is fine-tuned, MinexBank will become a decentralized
autonomous organization. At final phases, the platforms financial activity will be
completely free of human involvement, and use algorithms set earlier.
Since it is closed source, what is public information to track that the bank is not further manipulating the price of the coin? What will we see to know the bank is running as stated and not compromised? How will we know the overlords have stepped away once the machine is running? This is crucial to longterm success.