Description
Munt is a decentralized network for payments, digital assets, and finance that aims to improve upon traditional blockchain technology. It addresses key weaknesses such as low transaction throughput, long confirmation times, high energy consumption, and mining centralization. Munt's core innovations include a hybrid consensus mechanism called 'Witness,' which combines Proof-of-Work (PoW) with a deterministic witness selection process where users lock funds to secure the network. It also features a custom CPU-friendly PoW algorithm (SIGMA) and a dynamic difficulty adjustment algorithm that uses both miner and witness timestamps for more consistent block times. The project's architecture is based on a core backend library, allowing for the development of cross-platform frontends for desktop and mobile devices.