Mining of cryptocurrency is also termed as crypto mining. Crypto mining involves steps which makes sure that transactions for various forms of crytocurrency are properly and adequately verified and then finally added to the blockchain digital ledger. The process of mining or mining process incorporates the role of an individual who competes with other individuals in a quest to help offer solution to certain complicated mathematical issues encountered while making use of the cryptographical hash function which is conversant with a block which comprises of transaction data. These individuals are known as the crypto miners and they are basically the back bone of all cryptocurrency related transactions. And they are also the brain behind the informing coupled with the updating of the blockchain system with the necessary information or data from time to time. The first ever cryptocurrency to be produced and also mined is the bitcoin which initially operated on a person to person basis of transferring value and it first ever mining was done using a generic laptop and also a desktop computer.
But the tremendous progression in technology has basically affected Bitcoin's validity and also other cryptocurrencies and this has basically made certain individuals to pull out of the mining process due to the fact that they cannot cope with the necessities associated with the mining of the coins.
These amongst other issues are also the major setbacks which are said to be facing the process of mining and amongst all these, the MINEDBLOCK platform hopes to capitalise on the fact that with time, cryptocurrency with get to a stage that it will require numerous hash functions to initiate the transactions involving cryptocurrency and that in return means that more miners will also be required for all these to happen and the MINED platform aims to create a platform which will operate basically in crypto mining.
MINEDBLOCK PLATFORM AND IT'S ADVANTAGES.
MinedBlock is a fintech crypto mining platform and also a platform which offers infrastructural services and will specialise in the processing of transactions or better still the mining of cryptocurrency transactions. Also the platform's parent company which is MinedBlock Limited will be in charge of all the assets owned by the platform while it's subordinate part of the company will handle all services of the platform and this is done to encourage or tokenise equity in the subordinate company and also maintain private ownership of all assets in the parent company.
ADVANTAGES OF THE MINEDBLOCK PLATFORM
SCALABILITY: The minedblock platform is highly scalable and in order to grow the services offered by the platform, the minedblock platform will basically employ the use of more adequate mining equipment. Acquiring of this mining equipment has no limitation and this is so that the platform will offer the best and only the best to the users.
AGILITY: From the onset, about 40% of the platform's infrastructure will be solely dedicated to cryptocurrencies other than Bitcoin and this will basically enable the system of the platform to be flexible and thus be able to switch between assets been mined and also allowing the platform to always target the assets which will only offer best returns base on market demand.
SUSTAINABILITY: The MinedBlock platform will purely focus on the hosting of basic infrastructures in areas which will provide 100% renewable energy.
MARKET IMMUNITY: The phase 2 model of the platform's project which focuses basically on fund raising will be used basically to build the platform's renewable energy sources inorder to help offset or minimise electricity costs amongst others which will in return enable continuous production of revenue regardlessly of what the crypto market prices are.
PLATFORM TOKEN INFORMATION
The Minedblock platform will operate as a dual token platform that is to say that two or dual tokens will be used by the platform whereby one will serve as a utility token and the other will serve as a security token. The utility token will bear the acronym MBTU while the security token will bear the acronym MBTX. The utility token will have a total supply of 200 000 000 and will be developed on the ethereum blockchain system and will be an Erc-20 compatible token, while the security token will have a total supply of 100 000 000 and will be an ST-20 compatible.
FOR MORE DETAILED INFORMATION ABOUT THE MINEDBLOCK PLATFORM
Join the Telegram Group: https://t.me/minedblockofficial
Follow on Facebook: https://www.facebook.com/MinedBlock/
Website: https://www.minedblock.io/
Follow on Twitter: https://twitter.com/mined_block
Whitepaper: https://www.minedblock.io/assets/MinedBlockWhitepaper.pdf
Writer's Bounty0x Username: Aamantaya028
