The Blockchain technology is a rapidly growing tech that is overwhelming and engulfing every possible business sector. Consequently, many a report published on this decentralized innovation have predicted a huge rise and growth of the Blockchain and it's corresponding technologies and assets. The Blockchain market is anticipated to grow to over twenty billion U.S dollars by 2024. It is counted in one of the most promising new technologies that are hoped to change the future landscape of businesses and the internet.
As should be expected, the rise and attention that blockchain and cryptocurrency have gained has subsequently prompted nearly every industry to evaluate the benefits of integrating the technology into their operations. Various sectors ranging from sports, to health care, real estate, environmental etc; not to mention financial institutions. Today, am excited to share with you a blockchain powered cryptocurrency mining project, BatMine. Although I have come across a couple of crypto mining projects, but there something unique and different about this team's approach. Here's a mining project that wants to use the decentralized blockchain technology to make crypto mining less complicated and more rewarding.
Problems Plaguing The Cryptocurrency Mining Industry
These issues encountered in this sector are diverse, like with any other human endeavor. From high cost of the computing equipment, to electricity costs, lack of transparency by the mining companies. Since the time of Bitcoin’s PoW to other mining channels, it is evident that there are fragments that need to be revamped. To this end, the centralization of FPGA and ASIC that could have made mining easier proved herculean task. In the light of this, the costly nature of these mining tools has been great burden on miners. The mining process is also threatened by quantum attacks. It is expected that in the future, hackers will come with quantum computers that have tendency to break the strongest of blockchain platforms. Over centralization of mining tools has made them permissible for these attacks and other inordinate practices that will be of negative bearing to the blockchain.
The BatMine Ecosystem
Batmine is a blockchain based project whose aim is to eradicate complexities faced by cryptocurrency miners. The Batmine Team aims to provide mining amenities at an affordable rate. They offer miners the opportunity to buy state of the art miners which they can run in any of batmine establishments, proceeds these miners derives are theirs to keep, they only have to pay a service fee for electricity consumed, operation, service & management. Batmine mining platform will mine Bitcoin, Litecoin, Ethereum and some others initially but they will watch the crypto market for new altcoins doing great and start mining them. As regarding the type of equipments used before, Batkine will have it changed and will deploy a 55TH/sec mining equipment that is far more effective and reliable to produce far greater than miners have been able to produce with the former one. Different types of mining hardware will be used with an eye for their life expectancy, hash power rate, energy usage, electricity usage, easy accessibility of spare parts in case of damaged parts, and ability to switch from mining one cryptocurrency to another.
Mining Technologies
ASIC Miners (Application Specific Integrated Circuit) are complex computer systems which are specifically designed to perform a single task. The AntMiner S9i is an ASIC miner with 189 individual chips that are all built to crack the SHA-256 encryption which is required to crack the block. There are dedicated ASIC miners available for most of the primary crypto block-chain’s.
GPU Mining Rigs Graphics Processing Units (GPU) or graphics cards perfectly suit the processing power needed to run the complex calculations to solve ‘blocks’.
BatMine Platform Attributes
Mining: This is definitely the feature I appreciate most on the BatMine platform. You can mine BATM tokens by trading on the platform and you get the tokens at heavily discounted prices. The hash power is up to 55 TH/s and miners with the best cost/performance ratio.
Security: On the BatMine platform, its also assured through the use of a proprietary secret sharing protocol (a cryptographic security protocol) which will ensure that no one apart from the rightful account owner will have access to user data. Our safety, low cost electricity and high hash rate will make your mining significantly more profitable.
Transparency: The BatMine service is an open source platform which means the activities on this platform is visible for everyone to see and verify. This means that traders and miners can be rest assured that their fund is in safe hands. The platform is also open to all exchanges.
Trust: The BatMine platform provides a convenient environment for both exchanges and traders to interact together. By separating trading and minning activities, Batm secures traders funds while also at the same time helping exchanges secure funds deposited through the funds contributed by these network.
BatMine Token
The BatMine ecosystem is token based and it's ERC20 token smart contract is one of the most innovative blockchain protocols in recent history. The BatMine token will be used as a means of value transfer within the ecosystem. It also operates a token based ecosystem which is aimed at maximizing the benefit of the ecosystem to all participants.
ICO Details
TOKEN NAME: BATMINE
TOKEN TICKER: BATM
PLATFORM : ERC-20 COMPATIBLE
SOFTCAP: 1 MLLION EURO
HARD CAP: 19 MILLION EURO
Meet The BatMine Team
Please use this links below for updated information regarding the BatMine project.
Website:
https://batmine.io
Whitepaper:
https://bit.ly/2AChLhT
Facebook:
https://www.facebook.com/BatMineICO/
Twitter:
https://twitter.com/batmineico
Medium:
https://medium.com/batmine
Telegram:
https://t.me/batmineICO
Bounty0x Username: echoe2k4