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BIP

The total supply of BIP---Minter Network's native digital coin---is 10 billion units. They become available as block rewards over the course of approximately 7 years since mainnet launch, which happened on May 15th, 2019.

The Genesis block included the pre-mine of 200 000 000 BIPs for the first validators, coiners, and users, of which 50% was airdropped and 50% was distributed to early partners.

The Minter blockchain runs on the Tendermint engine with the DPoS (Delegated Proof-of-Stake) consensus algorithm. Block reward started at 333 BIP and will be linearly decreasing down to 115 BIP.

BIP coin allows to validate the network through stake delegation (staking rewards for new blocks and fees, voting power), pay all network fees (+30 types of transactions), provide custom coins with reserve.

20% of both block rewards and transaction fees is withheld as taxes and equally distributed between the Team and the Developers' DAO.

Minter Network implements the Delegated Proof-of-Stake (dPoS) consensus algorithm.

dPoS is a fast, efficient, decentralized, and flexible consensus model. dPoS leverages the power of stakeholder approval voting to resolve consensus issues in a fair and democratic way.

As of now, Minter blockchain has 46 independent masternodes validating 1 block every 5 seconds.