Minima is a decentralized and incentivized social media platform with the grand ambition of creating an alternative to Facebook. The company raised $6.5 million in new funding, which will go towards addressing emerging issues such as trust and security on their network.
Minima is a new cryptocurrency that has raised $6.5 million in a series A round to build “The Most Decentralized Network” on the Ethereum blockchain. Minima has been called “the most promising project in the crypto space.” The company plans to use their profits to fund other projects and developers. Read more in detail here: minima crypto.
The 26th of October, 2021, at ZUG, Switzerland,
Minima, a smartphone protocol, has completed a Series A investment round, receiving $6.5 million from a number of renowned investors. Minima’s Mainnet will be launched in 2022, thanks to these investments.
GSR, DEX Ventures, AGE Crypto, SMO Capital, and Vinny Lingham are among the investors in the round.
Minima’s breakthrough is the ability to turn every user into a full node. The blockchain system has a Proof of Work consensus process that needs very little computational resources, allowing it to function solely on mobile phones and Internet of Things devices.
Minima is a protocol that aims to be the most decentralized, immutable, and scalable on the market. Minima will facilitate token transfers and smart contracts natively, in addition to allowing users to protect the Minima chain in a more decentralized and hence sustainable way. Minima will develop a layer-two solution tied to the base-layer blockchain after realizing that scaling just via layer-one is almost impossible.
In the months leading up to its debut in 2022, Minima has already onboarded over 5000 nodes in 94 countries. The Series A funding round will push the project to completion and speed up its rollout. In the interim, users may start earning coins by installing the Minima app for Android or running Minima on PC, Mac, or Linux via the Minima Incentive Program. Users that volunteer to be testers may earn more Minima coins. Users must join a waiting list to participate in the Minima Incentive Program.
Minima CEO Hugo Feiler commented, “We are thrilled to announce this oversubscribed Series A financing.” “Our mission is to develop a decentralized blockchain that no one controls and that everyone owns.” We will be able to bring aboard the resources we need to launch Minima’s Mainnet in the middle of 2022 as a result of this financing round.”
“I enjoy backing startups that are thinking about the future in new ways, and I believe Minima is doing precisely that,” Vinny Lingham said. “I believe that decentralization is a critical component of the future of value and information exchange, and my investment in Minima represents an investment in the next generation of connection, allowing a variety of blockchain use cases.” Allowing everyone to effortlessly host their own node without the involvement of third parties, in my opinion, would truly put blockchain technology in everyone’s hands.”
Minima was created in 2018 in London. It has developed a smartphone or IoT-compatible blockchain protocol that allows any user to operate a complete creating and verifying node. Minima has developed the potential of running a truly decentralized network that is scalable and inclusive while being safe and robust by adopting this strategy.
- Jon MacDonald is a Canadian actor.
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The “minima crypto coin” is a cryptocurrency that was created by the team at Minima. The goal of the project is to build “the most decentralized network”.
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