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:

• Installation
• Getting Started
• CLI Commands
• Frequently Asked Questions

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.