Mining of cryptocurrency is a peculiar aspect of blockchain technology. It is a computerized process that converts an encrypted message such as a transaction on the blockchain. Since the introduction of blockchain technology, cryptocurrency mining was an activity that could be performed with a laptop or desktop, but with the popularity of this technology now, it is difficult and demanding to mine cryptocurrency unlike before. Now to mine cryptocurrency, an individual requires some highly sophisticated equipment not to mention the high electricity costs needed too.
Mining is a crucial aspect of the blockchain for any crypto aspects that aren't pre-mined. The problem faced in crypto mining is the high financial investment required of individuals to mine competitively. Without the need for any individual to buy and maintain the costly equipment for mining, investors can utilize the resources from a large scale mining operation which is run by MinedBlock. This operation is run by MinedBlock as a security token offering using the PolyMath ST20 in order to raise funds that will be used to offer the opportunity to investors.
MinedBlock will help improve decentralization of coins by creating a dedicated mining facility which focuses on mining multiple coins. MinedBlock will distribute its mining data centers globally to ensure a level of decentralization. Token holders will own a larger percentage (95%) of this company, with the remaining 5% owned by the parent company MinedBlock Limited. 75% of the profits generated will be distributed to the token holders with the remaining 25% owned by MinedBlock Limited.
As a key principle of MinedBlock Limited to providing transparency, the company will make all their plans, progress and revenue production public to token holders. The company will not push the burden of any losses from the service on the token holders. In addition, the MinedBlock will take full responsibility for maintenance, replacement, and expansion of the physical assets.
Strategy Of MinedBlock
As the ultimate goal is to ensure efficiency at all times, mining equipment will regularly be resold and replaced. Activities will be continuously monitored and switched between coins and they will evaluate the most effective way to create the most effective crypto assets.
Hardware of MinedBlock
MinedBlock will utilize a mixture of ASIC units alongside custom Built GPU Mining Rigs.
Location
Putting into consideration electricity, climatic conditions, and political atmosphere, mining farms will have to be located in places that will favor the activities. Iceland, where the climate and costs of electricity are favourable, will be the host to the first phase of their mining farm.
In case of any changes should there be one, MinedBlock will be monitoring their activities and can decide to switch the miners to an alternative currency to increase profitability.
Token Distribution
The MinedBlock token will run as a Security Token Offer (STO). This will assist in simplifying the monthly revenue distribution process for mined block and their token holders.
To find out more about the token sales and details, visit https://www.minedblock.io/ or see the https://www.minedblock.io/assets/MinedBlockWhitepaper.pdf
Token Allocation
The MinedBlock(MBTX) token is an ST-20 token built on PolyMath platform on the Ethereum blockchain.
Token on sale: 95%
Founders: 5%
Bountyox username: djsaeed187
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