What is Minerva?
Minerva is a world's first revers merchant processor, platform built on the Ethereum blockchain and its cryptocurrency is the OWL ERC20 token. The aim of Minerva is to address mainstream cryptocurrency adoption issues and provide partnered businesses with incentivized payment solutions.
Minerva's framework urges dealers to offer rebates or rewards for merchandise or administrations that can be paid for in OWL tokens, to engender their utilization. According to the task's whitepaper, as opposed to charge an exchange expense to vendors that acknowledge OWL tokens, "Minerva stages are remunerated with new tokens at a variable rate intended to battle expansion." The tokens would then be able to be put away in an ERC20 agreeable wallet, exchanged somewhere else in return for different digital currencies, or changed over into fiat to cover any rebates or concentrated evaluating.
On August 16, 2017, Ethereum-based blockchain startup Minerva reported a stage that will finance dealers with extra income streams by presenting "turn around exchange charges" which will remunerate them with OWL tokens.
Originator and President of Minerva Kevin McSheehan disclosed to ETHNews subtle elements of the tokens held for dealer rewards, "2.5 percent (2,500,000) of all at first created Minerva (OWL) tokens are put aside to fill in as 'marking rewards' for recently banded together stages. These tokens will be dispersed at rate of 5 percent for each new stage on a first come, first served premise. This is to boost early selection.
To avert fluctuation in the cost of OWL tokens, the whitepaper proposes two strategies be utilized to increment and abatement the supply. At the point when an accomplice stage acknowledges OWL tokens as a type of installment, a "reward rate" is figured in view of the present rate at which the tokens are entering the economy. It is straightforwardly relative to the cost of OWL; if the cost rises, so does the rate, and it will go up "until the point that it expands the aggregate supply enough to avert brutal value swings.
On the off chance that the cost of OWL diminishes, a moment strategy is utilized. A framework will be sanctioned by Minerva which boosts clients to incidentally expel their tokens from the economy. Clients can trade OWL tokens for "MVP" (an acronym for "Minerva Unpredictability Convention") tokens which speak to a specific measure of OWLs and could possibly increase in value over a decided day and age.
Minerva intends to work with different gatherings with an end goal to create organizations in view of productive exchanges of significant worth while organizing security for information trade. A proposed consortium, the Minerva Keen Cash Cooperation, will unite associations that have deliberately collaborated with Minerva or potentially acknowledge OWL tokens. As indicated by McSheehan, accomplice associations will have trade accounts which can make utilization of a Programming interface to give moment liquidity. At first, clients should delicate installments to vendors with an ERC20 agreeable wallet and McSheehan's group is organizing an easy to understand involvement. Later on, Minerva will channel clients straight into an improved easy to use Programming interface.
The biological system ascending around blockchain innovation is in a persistent condition of development, which McSheehan accepts is bringing enormous changes. "Ethereum, savvy contracts and blockchain innovation will upset the world as we probably am aware it," he said. "We are as of now viewing another Web and worldwide economy come to fruition before our eyes. The vision Vitalik Buterin had for Ethereum is working out as expected. The group behind it, including designers, envoys, and a great many different supporters have made a stage that is consistently developing and making strides. With Casper around the bend and the current presentation of Plasma, we feel that Ethereum will lead the charge in blockchain innovation. Thus, and after watchful thought, our group established that Ethereum was the most appropriate stage for Minerva to be based on.
McSheehan cleared up advance on factor rates, prizes, and soundness measures, "As OWL/USD increments on the open market, the variable rate for invert exchange expenses increments also. The inverse is valid amid times of value diminish. OWL/USD is communicated to a keen contract roused by Vitalik Buterin's "SchellingCoin," and the reward rate is resolved algorithmically. We are likewise exploring different avenues regarding prophet arrangements related with trade Programming interface as we work to deliver the most ideal and secure strategy for deciding this reward rate.
Minerva Different From Bitcoin
The core differences between Minerva and Bitcoin is that Minerva is designed to reward platforms that accept its OWL token with reverse transaction fees, as well as address the challenges of mainstream cryptocurrency adoption. Minerva is a platform and its OWL token is its currency. In addition to being a cryptocurrency, we are the world’s first reverse merchant processor.
Minerva will be used on carefully selected platforms which are subjected to rigorous auditing and transparency agreements. It is unlikely will consider parterning with any platform with a > 15,000 Alexa ranking.
ERC20 compatible wallets such as MetaMask, MyEtherWallet or TREZOR (with firmware >= 1.5.2 due to a recent security issue) for a physical cold storage solution.
Visit here if you want more about Minerva: https://minerva.com/ or
Read whitepaper: https://minerva.com/whitepaper.pdf
Here is Token distribution details below;
Further Visits
Website : https://minerva.com/
Whitepaper: https://minerva.com/whitepaper.pdf
Twitter : https://twitter.com/minervatoken
Facebook : https://www.facebook.com/MinervaToken/
Telegram : https://t.me/minervachat
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=2072362
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Imtiaz Mahmood
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