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Cryptonite was launched in 2014 and is the first crypto-currency to implement the mini-blockchain scheme along with many other innovative features. Our goal was to create a truly scalable cryptocurrency which combined many of the best ideas developed within the altcoin community and some of our own innovative ideas. The basic philosophy of Cryptonite is to follow the ideals set by Bitcoin as closely as possible but improve upon everything that could be improved.
Cryptonite was developed by the Mini-blockchain Project over a period of almost four months. It is a fork of the Bitcoin core but the code has been extensively modified and expanded upon. Our goal was to create something truly new, innovative, and useful to the cryptocurrency community.
Cryptonite is the first implementation of the light weight mini-blockchain scheme. Nodes will never again spend days synchronizing with the network and the average user will not have to fear becoming a full node. This is possible because of our decentralized balance sheet approach.
Cryptonite combines many great ideas developed by the altcoin community and also includes several novel features not seen in another cryptocurrency until now. Two innovative features which help improve security and trust are unmalleable transactions and withdrawal limits.
Cryptonite has superior support for micro-transactions because we don't have to worry about keeping any so called "dust" in the blockchain forever. Since blockchain bloat is not a problem, blocks can be larger and we can encourage the use of custom transaction messages.
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