Foleum is a crypto-powered mining pool with a twist. Its main goal is to address the elephant in the room when it comes to crypto-mining. Energy. As you probably know by now, mining cryptocurrency requires the use of many graphics cards. The more graphics cards the better. However, graphics cards are power hungry. Graphics cards are probably the most power hungry thing in your PC. Multiply that by six and your average mining rig uses a ton of electricity. Now multiply that number by the hundreds of cards a full mining operation uses and you can see what's going to happen. That's a lot of power! Multiply it by thousands and the Earth itself runs out of power! This is one of cryptocurrency's biggest flaws. There just isn't enough power available to run all the GPUs required to mine it all.
Foleum solves the problem of high energy consumption with renewable energy. By utilizing green energy sources such as wind, solar, and hydro-electric power Foleum basically creates energy out of thin air while promoting the use of renewable sources at the same time.
Foleum also provides an easy entryway for anyone wishing to explore the world of crypto-mining without incurring a huge expense. Investors in the company's ICO will receive tokens (FOL) which represent shares in the company. The tokens will then grant the holder a certain percentage of the daily profits Foleum takes in. Profits are distributed daily and anyone who invested in the initial coin offering may sell their tokens, which Foleum calls crystals, on the exchanges at any time. The price of FOL crystals varies from $0.20 to $0.50, increasing during each of the ICOs 5 stages. FOL is an ERC-20 token.
At the moment, in order to comply with US security laws, the Pre-sale, Early Adopter Sales: Stage 1, Stage 2, and Stage 3, will be restricted to Non-U.S. purchasers and U.S. accredited investors only
Foleum as a company will generate profits in a variety of ways. Through mining cryptocurrency, and the production and selling of DIY mining equipment. Other revenue streams may be added later.
More detailed information may be found on the Foleum Whitelist.
For a quick general overview visit the Foleum homepage.
