Key concepts

What is Minka Ledger system?

Minka Ledger system enables clearinghouses to securely publish/issue balances based on funds deposits and instantly transfer money across the Web.

Money and balances inside the Minka ledgers can be moved securely to any other connected ledger in real time using digital signatures.

How does Minka Ledger system work?

Everything inside the Minka Ledger system is stored as a (JSON) database record:

• every account
• every transaction
• every setting or system permission

In short --> EVERYTHING.

Here is an example of how the record looks like:

{ "data": { ... }, "meta": { ... }, "hash": "...", "luid": "..." }

Ledger record represents an entire clearinghouse.

Wallet record represents specific banks or individual (personal/business) accounts.

Intent record represents transactions between the accounts (or issuance of new balance to a specific wallet based on real-world funds deposits).

Ledger record attributes

Every record has four attributes.

data and meta are the most important ones because they hold information and instructions that are interpreted by the Minka Ledger software.

Examples of these instructions can be:

• account creation
• issuance of new money
• transfer of money from one account to another
• etc.

luid is a record ID that starts with 3-letter prefix that indicates a record type:

• $ldg.<17-random-characters> -> ledger
• $wlt.<17-random-characters> -> wallet
• $int.<17-random-characters> -> intent

{ "luid": "$ldg...", ... } // ledger
{ "luid": "$wlt...", ... } // wallet
{ "luid": "$int...", ... } // intent

hash is a record attribute that contains the record signature. And every ledger record is cryptographically signed. This means each operation/change in the system is signed and:

• only users with right permissions can make a change (secure)
• every change is uniquely traced back to that user (auditable)
• and no one can corrupt the existing records (immutable)

Here is a preview of how one ledger record (for example wallet) might look like:

{
    "data": { ... },
    "meta": { ... },
    "hash": "...",
    "luid": "$wlt..."
}