Cryptocurrency mining can also be refered to as crypto mining and it basically involves series of steps or processes which ensures that transaction for numerous forms of crytocurrency are adequately verified and thus added to the blockchain digital ledger. The mining process involves the role of a miner or crypto miner who basically competes with other crypto miners to help solve certain complicated mathematical issues using the cryptographical hash functions which are thus associated with a block that contains the transaction data. Also the cryptominer is responsible for informing as well as updating the blockchain system with the necessary as well as adequate and necessary information.
When bitcoin which is the first cryptocurrency asset was developed, it operated on a basis of P2P (person-to-person) means of transferring value and it was first mined by basically making use of a generic laptop as well as a desktop computer. Progression in technology has basically affected the popularity as well as validity of both bitcoin and also other cryptocurrency assets and this has basically grown beyond what most people can handle thus making them pull out from mining.
Miners are individuals who collectively provide the essential backbone as well as infrastructure necessary for cryptocurrency blockchains by providing single distributed ledger across multiple or numerous nodes which are the specialist mining hardware which assist in the purpose of mining transactions.
But however there are issues said to be facing the current cryptocurrency mining industry and also, with the rate at which cryptocurrency is moving globally, there is a prediction that it will get to a stage whereby there will be high demand of crypto mining platforms which is why the MINED PLATFORM is aiming to establish itself as a ledger crypto mining platform to take advantage of the future predictions of the global progression of crytocurrency.
MINEDBLOCK PLATFORM.
The MINEDBLOCK platform is basically a fintech crypto mining as well as an infrastructure service provider that basically specialises in the processing of transactions or mining of cryptocurrency transactions. Also, the parent company which is MinedBlock Limited will basically own all of the assets as well as the infrastructure as well as operation while also the the subordinate company will be in charge of the service basis of the platform. The essence of this is to help tokenise equity in the subordinate company while also retaining private ownership of all the assets in the parent company. Basically, 25% of revenues will be owned by the parent company to help carry out expansions as well as operational costs of running of the platform.
PROBLEM FACING MINING
Mining is basically regarded as a fundamental and also an essential part of blockchain for any basic crypto assets. Mining nodes basically hosts the distributed ledger of the system network which forms the decentralised model of the cryptocurrency assets. With the current progression, large amounts of mining as well as hash power which is the key factor to solving blocks is almost becoming centralised in pools thus making it extremely hard for individuals to indulge in mining because of the large amount of investment needed for competitive mining. Also numerous bad actors have basically promised to develop mining firms and they never delivered thus making investors to loss millions of dollars. Also, there are solutions out there Which basically involves cloud mining but they are not transparent or cost effective thus the minedblock platform has solutions which they tend to offer to help resolve the problems been faced in the mining processes.
SOLUTION OFFERED BY MINEDBLOCK PLATFORM
MinedBlock platform will basically create a platform which will be basically dedicated in mining processes and it will basically focus on mining multiple coins from the numerous top 50 based on their market cap to help ensure a diverse range of revenue flow for the users or customers of the platform to benefit from. The topmost pirority of the platform will be to enable growth at a basic significant level so as to help take the platform to a position where it will attain the position of one of the leading crypto mining company. The platform will also incorporate models which will help raise funds to enable the platform build a corporate scale mining operation and also will task it's team to properly look after the equipments and also ensure that there is constant work on a 24 x 7 basis to improve productivity with the lowest operational cost possible
TOKEN INFORMATION
The platform will run on dual token type basis
I. MBTU
The platform will basically make use of a basic token which will termed the MBTU which will be an ERC-20 compatible utility token which will be developed on the Ethereum blockchain system and will have a total supply of about 200, 000, 000.
II. MBTX
It will serve as a security token and will be developed on the polymath or Ethereum blockchain system. It will have a total supply of 100, 000, 000 and will be ST-20 compatible.
TO KNOW MORE ABOUT THE MINEDBLOCK PLATFORM
Join the Telegram Group: https://t.me/minedblockofficial
Follow on Twitter: https://twitter.com/mined_block
Follow on Facebook: https://www.facebook.com/MinedBlock/
Reddit: https://www.reddit.com/r/MinedBlock
Website: https://www.minedblock.io/
Whitepaper: https://www.minedblock.io/assets/MinedBlockWhitepaper.pdf
Writer's Bounty0x Username: Zubbykay94