MIE Network Ideas
The whole idea behind MIE Network was to build and develop a hybrid blockchain network that can conveniently be connected with its sidechains. One thing which we wanted to achieve through the MIE network is that unlike all the major blockchain networks it should not have its limit within one single network but this network should be able to communicate with any second, third or fourth network.
We knew that with such ideas, safety and security will be at high risk, so along the way we also worked on keeping the network safe and secure for the users even when they are communicating or transacting to other networks.
With the help of the MIE network, people do not have to create smart contracts in multiple networks every time they are willing to communicate or transact with other networks.
Along with all these exclusive features we have wanted and succeeded to build MIE the network which delivers fast transactions because the age of the internet likes speed and that’s how we have wanted to keep it. It’s no longer necessary for people to wait for minutes to get the transaction completed while all the confirmations take place.
All of this is being offered by the MIE network on very low transaction fees which is comparatively a lot less than many other major blockchain networks where transactions still take minutes to get completed.
Through the consensus mechanism of POS (Proof of Stake) the participants are rewarded on the grounds of their stake of coins unlike systems like POW where people have to provide proof of their mining in order to be eligible for the rewards.
The POS mechanism has a much more convenient and fruitful system for the participants to get rewarded which does not require them to prove that they have contributed a significant amount.
One thing participants have to do on MIE Network is just stake some of their assets and bet on the next block that might have a chance to be added to the chain, which over time becomes very predictable for the participants after one has spent a good amount of time on the network. Once the block is added, the participants are rewarded.
All in all the whole MIE Network is going to be a scalable, fast, compatible, modular, secure network with exclusive features of being the bridge of interoperability between other networks as well.