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When learning about crypto projects on the market today, especially NFT projects, Mint must be one of the terms that any investor has ever encountered. Because this is the process of putting data into the Blockchain system and once the data is entered, there is no way to remove it. So what is Mint , let’s solve it with through the following article.

What is Mint?

Currently Mint is the process of putting data into the Blockchain system .

Once the data is inserted, there is no way to remove it. Since the data always exists on the blockchain system, the data is likely to be viewed publicly. As such, this means that the origin of the data is verified, public.

Imagine that blockchain is similar to a digital ledger. Similar to paper pages, these digital pages can currently only store a limited amount of information.

Therefore new pages will be created on a regular basis to be able to store more information. Those pages are blocks in the blockchain. In order to keep the blockchain network running smoothly, only 1 block can be generated at a given time.

Proof of stake is a minting process that controls how blocks are generated and how data is added to a block.

NFTs are typically minted on the Ethereum blockchain, although NFTs can also be minted on other blockchain systems (like NFT Top Shots minted on the Flow blockchain).

In short, for what mint is , you can imagine this is the process of bringing data (products) to the Copyright Office for Intellectual Property (Blockchain) to register (putting data into system of copyright bureau on intellectual property).

What is Mintable Token?

With the above general analysis information , what is Mintable Token?

Accordingly, Mintable token is an ERC20 compatible token , and added an additional feature: New tokens can be created at any time and added to the total supply. Currently ERC20 does not have this feature, which makes them a fixed supply token in the market.

How does Mintable Token work?

What is Mint and how does Mintable Token work? Accordingly, this section will provide information related to the foundation technology added to ERC20 or the Mintable Token blocks that have been added and upgraded with a few new supporting features, which can be mentioned as follows: :

  • New tokens can be created at any time as well as processed for adding on Total Supply.
  • Create fixed blocks of Tokens on the market.
  • Addressing the technical issues of ERC20 is not currently available for this feature.

Minter Role and new features

To better understand what Mint is, let’s learn about the following Minter Role. Accordingly, currently the Minter role is an address with special privileges to generate new tokens, thus adding them to the total supply. Currently there can be many Minter role addresses, but in reality, it is usually just 1 address.

The first Minter is just the address where the Smart Contract implementation of the tokens (smart contract) has been carried out. So with the above information about what Mint is, it can be seen that currently Minter can add new minters and re-grant privileges to become minter or transfer their rights to other addresses.

Add a new Minter address

When a large Minter wants to create more smaller child Minters, it will be used together with the following function structure:

  • Function AddMinter Public OnlyMinter (Address Account)

Based on this, it can also be seen that command modifiers like this have the function of containing “Only Minters” or that currently Minters can contain additional or concurrently contain other new child Minters.

So it can be seen that the AddMinter function will be broadcast in the form of data as follows:

  • Event MinterAdded (Address Indexed Account)

Besides adding new Minter addresses, giving up old Minter Roles is also one of the new features of this address, specifically as follows.

Abandon old Minter Roles

In addition, the command now contains Minter Roles that can be relinquished and handled with child and smaller Minter privileges by using

  • Function Renounce Minter Public

This has also helped new Minters completely give up the role of smaller Minters in their jaws. Accordingly, the call to the Renounce Minter function is the final analysis data. Specifically

  • Event Minter Removed (or Address Indexed Account)

Besides giving up old Minter Roles, switching between Minter Roles is also one of the new features of this site, specifically as follows.

Switch between Minter Roles

What is Mint and how to switch between Minter Roles? Accordingly, currently Minter is added with its own privileged functions to convert and process between Minter Role blocks together. Accordingly, the function structure will be as follows:

  • Function Transfer Minter Role Public (Address New Minter)

Thus, the function on the Transfer Minter Role blocks can completely handle themselves to give up or add the role of transaction rights of the smaller Minter blocks contained in it. Besides, it will output in the form of general data as follows:

  • Minter Removed.
  • Minter Added.

So above are a total of 3 new features on the market today of Minter Role to help you better understand what Mint is. So now what is the difference between Minting and Mining?

The difference between Minting and Mining

So above is an overview of what mint is, to better understand what Mint is as well as the differences between Mining and Minting, let’s find out in the following section.

Currently, many people are still confused about the two terms Mining and Minting. However, these are two separate blocks, so the terms Mining and Minting are two completely different terms. As follows:

Minting

What is Mint and what is the difference between current Minting and Mining? Accordingly, it is shown through how to send messages of transaction orders created on new Tokens inside Smart Contract – smart contract containing Tokens.

The function of these new orders is to create an unlimited amount of Token Coins and at the same time do not consume much of the mining power of today’s futures contracts.

Mining

Accordingly, in a simple way, it is a new Token Coin, but it is limited because of some Concensus rules on that Blockchain as well as requiring certain energy quotas for mining.

Currently, this mining is created to enhance the security of the network as well as encapsulate transaction orders into separate blocks of data.

So with the information on the difference between Minting and Mining carefully analyzed above, it helps you better understand what mint is. So what is the current Mintable Token technology being used by Token Coin?

Mintable Token technology is used by Token Coin coin

What is Mint and how is Mintable Token technology currently used by Token Coin?

Currently, there are many new Coin projects that have been applying new features very effectively on Mintalble Token. Accordingly, there are a few extremely potential projects that have also been launched recently, such as:

Dai Coin (DAI)

Currently, the DAI cryptocurrency is a project on analyzing decentralized data of Stable By Coin, and is priced at 1 usdt. Accordingly, it is used at the platform that is in the ecosystem of MakerDAOs.

Thus, users can completely lock personal crypto assets in futures contracts and contain MakerDAOs as well as exchange for DAI Tokens to be able to increase and accumulate maturity on the wallet. personal money.

Thus, every time other cryptocurrencies are also locked at the Collateralized Debt Position – CDP (collateralized deposit) platform. Then new DAI Tokens can be Mint at MakerDAO’s ecosystem on the market.

Status Coin (SNT)

Currently, Status Coin is a cryptocurrency using an open source platform of its original SNT Token that supports Status’s transaction management mechanism. Similar to 1 Unity Token to be able to promote application notifications on management platforms, manage user content, automate processes and messaging, etc. directly at their ecosystem.

It is this that helps the limited SNT tokens on Total Supply and the circulating supply keep the value of Token Coin always at a balanced and stable level. Newly issued Token Coins after mining are managed at the wallet addresses of the market controllers.

Decentraland Coin (MANA)

Currently, Decentraland Coin is known as a very potential and has a very clear development direction. Accordingly, it helps to create a smart virtual world that can connect users in their ecosystem closer together.

This makes it possible for services and goods to be bought, sold, and exchanged through the MANA Coin. Accordingly, it uses the structure of the ERC20 platform as well as contains common Burn and Mint transactions.

With the above information about what Mint is , how can I currently Mint assets into the Blockchain? 

How to use Mint Blockchain

What is Mint and how to use Mint Blockchain? Accordingly, you can now directly access the NFT platforms to conduct the Mint process. Such platforms may include Rarible and ENJIN, etc. 

For better understanding, below are Mints of data, and store it in Blockchain Mint to create separate NFTs. In simpler words, it is to create an NFT, whereby the steps will be carried out specifically as follows: 

Step 1: Choose a platform 

After learning what Mint is , how to use Mint Blockchain is carried out as follows: Accordingly, the first step when using Mint Blockchain is to choose a platform and the example in this tutorial will be the platform. Rarible

Step 2: Use Mint Blockchain blocks to connect to the same hot wallet address

Then you can use Mint Blockchain blocks to connect with hot wallet addresses. Accordingly, in this tutorial, we will use Metamask ‘s wallet .

Step 3: Select the item “Create Collectible”

Once you have successfully accessed, continue to select the item ” Create Collectible “

Step 4: Proceed to initialize the NFT.

Accordingly, you need to provide basic information along with NFT storage data such as name, storage time, price and wallet address, etc. 

Then need to proceed to the interaction with the wallet to be able to initialize. Accordingly, before minting assets into the blockchain at rarible, it is necessary to go through a total of 3 steps:

  • Mint token.
  • Approve.
  • Sign and sell order.

After making the payment for each step, then you have successfully created your own personal NFT. This means that you have successfully deposited the asset on the Blockchain.

So, after thoroughly learning about what Mint is, you can easily use Mint Blockchain according to the 4 basic steps above.

Some notes when using Mint in Blockchain

With the information on what is Mint above, what are some of the notes when using Mint in Blockchain?

Currently, the Mint section is the part that is taking up the most fees. Accordingly, this is also a huge barrier for investors who currently do not have much financial potential and creators to access this potential Crypto -NFT market.

But in fact, there are a few projects that now have many improvements to overcome this, and typically it is ENJIN when conducting JUMPNET to help MINT users with almost no assets and costs.

Thus, the article on Investment Beat  has explained an overview of what the term Mint is to help you better understand this term as well as when it comes to other projects. Accordingly, in the crypto market, this is one of the very important terms that any investor needs to master. Hopefully, this will be useful information to help your investment process be more effective.

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