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mmx-node

“ MMX – fast, low cost, feature rich, decentralized – with tokenomics of an actual currency ”

A blockchain written from scratch, doing most things differently.

Design

  • Variable token supply governed by consensus (1 block = 1 vote)
  • High throughput L1 with consistent block interval (500 TPS, 10 sec)
  • Novel Smart Contract VM for ease of development and high performance
  • Energy efficient Proof of Space, with optional Proof of Stake (limited to Tx fees)
  • Block reward is adjusted to stabilize price, a key property of any currency
  • Minimum transaction fee to allow large block size without spam
  • Limited external library usage to keep codebase clean and secure
  • No pre-mine, no ICO, no investors
  • Account based model

Elements

  • High performance C++ code (can handle over 1000 TPS easily)
    • Transactions are executed in parallel when possible
  • Custom high-level VM for Smart Contracts
    • Native support for variants, arrays, maps, and objects
    • Unified memory with automatic persistence and state updates
    • A restricted subset of JavaScript is compiled into bytecode
    • Average of two machine instructions per line of code
  • Native token support (no "approvals" needed, NFT = 1 mojo)
  • Smart contract offer based trading (fixed price, OTC)
  • Liquidity pool swap based trading (AMM, multi-fee tiers, similar to Uniswap v3)
  • ECDSA signatures for seamless integration (same as Bitcoin)
  • Custom blockchain database engine (much faster than RocksDB or LevelDB overall)
  • Adaptive SHA256 VDF to govern block interval
  • Feature rich Node with built-in Block Explorer, Wallet, Market, Swap, RPC, etc

Roadmap

Release Date Description
testnet7 Sep 2022 Finished. [1]
testnet8 Oct 2022 Finished. Incentivized testnet, height 25k-425k. [2]
testnet9 Dec 2022 Finished. Incentivized testnet, height 25k-1220k. [2]
testnet10 Apr 2023 Finished. Incentivized testnet, height 40k-3200k. [2]
testnet11 May 2024 Finished. New plot format, compression resistant.
testnet12 June 2024 Active. Incentivized testnet, height 25k-tbd. [2]
mainnet tbd Planned Q4 2024.

[1] Coins farmed on testnets are not worth anything, now or later.
[2] A fixed reward of 0.5 MMX per block win on incentivized testnets will be given on mainnet genesis.

See #mmx-news and #mmx-general on Discord: https://discord.gg/BswFhNkMzY

Installation / Setup / Usage

Please take a look at the Wiki:

WebGUI

To access WebGUI, go to: http://localhost:11380/gui/

It's only available on localhost by default.
The login password is auto-generated at first launch, located in mmx-node/PASSWD file ($MMX_HOME/PASSWD).

Release Notes

Testnet9

  • New Swap contract, to trade via liquidity pools (similar to UniSwap, anyone can provide liquidity and earn fees)
  • Improved Offer contract: partial trades and extending offers are now possible
  • Re-designed Virtual Plots: withdrawal is now possible with a 10% fee (no lock duration, fee is burned), also there is no more expiration
  • Network traffic is now compressed via deflate level 1
  • Second best farmer will now create an empty block (just to get the reward), in case the first farmer fails or is too slow

Testnet10

  • Decentralized Timelord rewards (fixed 0.0025 MMX per block, paid by TX fees when possible (but never more than 1/8))
  • New AMM Swap with multi-fee tier system (you can chose between 4 fee levels for your liquidity)
  • Account activation TX fee (0.01 MMX when transferring to a new address with zero balance)
  • Increased min block reward to 0.5 MMX
  • Full transition to smart contracts with compiled JS like code
  • Harvester improvements for compressed plots (graceful degradation)
  • New dev fee system, based only on TX fees, with a fixed amount plus 1% (but never more than 1/4 of TX fees)
  • Plot filter has been decreased to 256 now, as it is planned for mainnet
  • Many improvements to the code base

Testnet11

  • New plot format:
    • k29 to k32 max
    • 9 tables
    • very low compression only
    • CPU farming only
    • SSD and HDD plot types
    • Old format no longer valid
  • Transaction output memo support
  • Block reward voting support
  • Swap algorithm improved
  • Swap fee levels changed to: 0.05%, 0.25%, 1% and 5%
  • Using zstd compression for network traffic
  • NFT plot support (testing only)

Testnet12

  • Fixed Virtual Plots, they now win blocks at the expected rate. On TN11 it was ~20 times less.
  • Fixed block reward formula, average tx fee is subtracted from minimum reward again.