The Blockchain is a decentralized ledger that stores a registry of assets and transactions across a peer to peer network. Basically, it is an open registry of that keeps track of ownership and transactions. Each transaction is secured through special cryptography and over time transactions are locked in blocks of data and then get link ad secured cryptographically.
The beauty of the blockchain is this; records are immutable and unforgeable. It is public and can be seen by anyone anywhere. Every record is replicated on all computers across the network.
Cryptocurrency Mining is the process of validating blockchain transactions with a computer and then adding them to the open, public legder which carries a list of all transactions stored in blocks and connected together to form a chain hence the nam blockchain. In exchange, miners get rewarded with cryptocurrency.
Some years back, anyone with a computer and an internet connection can become a miner. But before you get excited, it is important to note that mining is not always profitable as many miners paint. Several factors come into play, such as the type of cryptocurrency you’re mining, your computer speed, and the cost of electricity in your location, you may end up spending more on mining than you earn back in cryptocurrency.
Most crypto assets that are not pre-mined rely on the blockchain for mining activities. Several individual miners come together to form pools and pull their hash power for mining. This has centralized mining and defeated the primary objective of the blockchain and cryptocurrencies, which is decentralization.
MinedBlock has provided aspiring crypto miners an opportunity to become partners and investors in its new mining solution called the MinedBlock Holding Company. It is a large scale crypto mining service platform with mining facility that concentrates on mining the top 50 digital assets known in the market to guarantee profit maximization for customers.
MinedBlock will be responsible for purchasing, installing and configuring, maintaining and managing the mining equipment. It will also incurr every cost that comes along with expanding MinedBlock will also ensure that decentralization of mining data centres is implemented within its network.
MinedBlock aims at becoming a heavyweight in the digital currency world and to possess the necessary infrastructure for minting digital assets while employing all the required strategies that will yield high return on investment. MinedBlock mining activities will cover a wide variety of currencies to increase revenue. A well encrypted safe cold wallet will be used for storage of mined assets until it is time to distribute.
Minedblock platform utilizes a dual token system comprising the MBTX and MBTU. Each having it's unique attributes and purpose. The MBTX is a security token which its holders earn income. Each MBTX token represents a unit share of the MinedBlock Holding Company and every shareholder is eligible to receive a portion of company revenue, vote for expansion of minting services in the future. This token is an ST20 token which can only be traded on security exchanges.
The MBTU token on the other hand is simply a utility token and is an ERC20 standard token built on the Ethereum network. Its primary purpose will be a medium of payment for all mining services enjoyed on the MinedBlock platform. It will be used in renting or buying mining hardware and offsetting management fees. The MBTU tokens can be traded freely.
Any other information you require about MinedBlock can be accessed from the links below.
Web: https://www.minedblock.io/
White paper: https://www.minedblock.io/downloads
Facebook: https://www.facebook.com/MinedBlock/
Twitter: https://twitter.com/mined_block
Reddit: https://www.reddit.com/r/MinedBlock
Telegram: https://t.me/minedblockofficial
Bounty0x username: Donrep09