Ever since 2009 when Bitcoin came into prominence, there has been an increase in the number of cryptocurrencies in the digital space, each solving their own set of problems or improving on the limitations of Bitcoin itself to create worthy alternatives to the pioneer cryptographic coin.
Simply put, cryptocurrencies are cryptographic digital assets developed on the Blockchain, that can handle real time electronic peer-to-peer transfers and have come to play very important roles in our lives.
Cryptocurrencies are decentralized in nature which means they are not controlled by a central entity, and were created to solve a majority of the problems associated with traditional banking.
The Blockchain also referred to as Distributed Ledger Technology (DLT) is a decentralized digital database that records transactions across a network of nodes (computers) into units called “blocks”. These blocks can never be altered once recorded and this is why the Blockchain is usually referred to as being immutable.
These transactions are processed and grouped into blocks by people called miners and the process is called mining.
Miners basically solve difficult mathematical problems and check how valid transactions are before they can be added on the ledger, and in exchange for the computational resources expended they are rewarded in cryptocurrency.
With the Increase in the interest and demand for cryptocurrencies mining has become quite lucrative. Where mining could be carried out by anyone who had a laptop and electricity in the past, today the reverse is the case.
Cryptocurrency Mining is now a highly competitive landscape and is dominated by large scale mining corporations due to the cutting-edge specialized mining hardware and ridiculously high energy costs required to run a successful mining operation.
Numerous so-called mining projects have sprung up on the Blockchain, making promises of rewards and sustainability which they failed to deliver on. Multitude of investors have been excluded, standing on the sidelines, wishing they could enter into the exclusive crypto mining space which mining farms have dominated up until now.
It is with unbridled enthusiasm that I introduce what most would call an answered prayer: Minedblock .
Minedblock is offering the holders of their MBTX tokens, access to the proceeds and profits generated from their professional-grade mining operations without having the extensive financial requirements or the technical know-how to mine cryptocurrencies.
THE MINEDBLOCK ADVANTAGE
Minedblock believes everyone can have a share of the profits realized from cryptocurrency mining and aims to lower the threshold for entry into the mining space. This is a term the team refers to as “Mining-as-a-Service”.
Basically, all an investor has to do to benefit from the company’s mining profits is to hold a number of Minedblock’s native MBTX tokens.
Minedblock’s mining operation is not limited to a single cryptocurrency but have clearly stated in their official whitepaper that a total of the top 50 traded cryptocurrencies would be mined interchangeably to guarantee the best return on investment for all investors.
This also greatly reduces the risk of depending on a particular cryptocurrency as a crash in that cryptocurrency would equally mean a crash in the mining profits.
To provide an additional source of revenue for all investors, Minedblock will also diversify their mining activities into Proof-of-Stake mining by running masternodes to maximize earnings.
Masternodes are servers that have specific functions in the cryptocurrency network in exchange for rewards in the masternode currency.
The unique feature of masternodes is that rewards are guaranteed just by having a specific number of the coins without the need to run expensive mining hardware.
Hosting these masternodes ensures that Minedblock investors are always protected against sudden volatile swings in the cryptocurrency market.
MINEDBLOCK TOKENS
Minedblock runs a unique dual token structure to effectively cater to the host of services offered by the company.
Utility tokens are tokens used to access products and services and Minedblock’s utility token MBTU is the gateway to utilizing the high-end mining hardware the company has to offer.
MBTU is the Ethereum-based ERC20 compliant token used to pay rent on mining hardware and can be traded on regular exchanges just like any utility token on the market today.
MBTU tokens however do not offer any securities to investors and do not entitle holders to monthly dividends.
Read more about MBTU here
MBTX AND SECURITY
Security tokens are digital tokens backed by real-world assets in a company. These tokens are like possessing shares of a company as they give investors rights within that company.
The MBTX tokens are regulatory compliant Polymath ST20 Security Tokens.
Minedblock is organizing the very first mining-backed Security Token Offering giving investors the chance to enjoy the proceeds of their mining services.
Holding the MBTX token gives a holder the rights to receive 75% of the total profits realized from Minedblock’s mining operations on a monthly basis.
Holding the MBTX tokens also gives an investor voting rights. This means they can either reject or vote in favor of the company’s proposals and contribute to making decisions that affect the company.
HOW DOES MINEDBLOCK OVERCOME THE CHALLENGES FACED BY MINING OPERATIONS
To ensure the sustainability of a mining operation, certain factors guarantee the success or failure of a project.
These factors include:
Energy
The energy consumption associated with mining cryptocurrencies have exponentially increased in the years past. Uninterrupted power supply is vital to a mining operation and securing low-priced energy is a priority.
Minedblock’s base of operations would be Cost-efficient locations with well-developed renewable energy sources.
Minedblock has stated that in the future, they would develop a large scale renewable energy station that can power the entire mining operation and would cease to be dependent on external sources.
Choice of the Miner
Minedblock’s diversified mining operations will utilize two of the most commonly used mining devices: Graphics Processing Units (GPU) and Application Specific Integrated Circuit (ASIC) miners.
This is to further minimize risks and multiply the streams of income, thereby effectively protecting the investors from cryptocurrency market downturns.
Minedblock will be solely responsible for the maintenance costs, update, upkeep and subsequent replacement of defective and outdated mining hardware to guarantee maximum productivity.
MBTU x MBTX TOKEN ECONOMICS
MBTU
Token: MinedBlock Utility
Token Network: Ethereum (ERC20)
Ticker Symbol: MBTU
Token Supply: 200,000,000 MBTU
TOtal Tokens On Sale: 100,000,000 MBTU
Token Sale: Yes, IEO
Token Sale Price: $0.1/MBTU
IEO Phase 1: 20/5/2019 - 25/5/2019
Accepted Tokens: BTC, ETH, USDT
Token Bonus: Yes, 20%
Soft Cap: $1,000,000
MBTX
Token: MinedBlock Token
Token Type: Security
Token Platform: Polymath/Ethereum (ST20)
Ticker Symbol: MBTX
Token Supply: 100,000,000 MBTX
Token Sale: Yes, STO
More information about the tokens can be obtained here
In Conclusion
A lot has changed in the cryptocurrency mining landscape and in order to mine profitably, one must either be prepared to set up professional grade mining farms with high-end mining hardware or simply employ mining services.
With the demand for cryptocurrency mining growing exponentially, Minedblock is giving their investors the opportunity to be part of an efficient, transparent and profitable mining operation.
I believe Minedblock has the ability to level the playing field, mining is no longer for the “whales” alone but has been democratized for the entire crypto community.
Connect with Minedblock on social media:
Website: https://www.minedblock.io/
Whitepaper: https://www.minedblock.io/assets/MinedBlockWhitepaper.pdf
One pager: www.minedblock.io/assets/MBOnePager.pdf
MBTU One Pager: www.minedblock.io/assets/MBTUOnePager.pdf
Facebook: https://www.facebook.com/minedblock
Twitter: https://www.twitter.com/mined_block
LinkedIn: https://www.linkedin.com/company/minedblock
Telegram News: https://t.me/MinedBlock
Telegram Chat: https://t.me/MinedBlockOfficial
Bitcointalk ANN Thread: https://bitcointalk.org/index.php?topic=5108768
Author's Bounty0x username: Cryptovixen192