Earn dividends in BUSD and USDT like a miner with MetaMiner
- Futures drop as jobs data points to resilient labor market
- U.S. economy adds 199,000 jobs in November
- Bernstein's best idea for 2024? Short Tesla stock
- Analysts defend Broadcom as annual guidance falls short after FQ4 earnings beat
- Microsoft (MSFT) dips as UK's CMA seeks views on partnership with OpenAI
This new project aims to decentralize the Bitcoin mining operation for the crypto community by distributing a slice of its profit to token holders.
The mining industry is centralized. Although anyone can start a mining farm in their home or office, today, we have a large concentration of computing power of the Bitcoin network in the hands of a few individuals.
Since ASICs creation, the small miner has lost space to the one with greater purchasing power. ASICs are chips designed for specific use (instead of general-purpose computers). These particular chips have different purposes, such as satellites and transceivers used in cell phones for wireless connectivity. Some are designed to mine specific cryptocurrencies or certain hashing algorithms within cryptocurrencies. Essentially, it is targeted pieces of hardware that aim to beat general graphics processing units (GPUs) for being more efficient (and therefore more profitable) when applied to the cryptocurrency mining process. ASICs are so powerful that once a coin-specific ASIC is released, it is usually not worthwhile to mine without one. This is not necessarily bad in itself. The problem of many cryptocurrency miners and investors has to do with how these machines are created and distributed. There are very few manufacturers; the space is highly centralized. When a small number of companies have near-total control over the distribution rights to the power to rush a cryptocurrency (by providing unmatched ASIC technology), the mining process becomes more centralized.
But, there is a company trying to change this scenario. MetaMiner has the goal to build a mining company by the people for the people. Since miners have made $15 billion in 2021, miners should share a slice of this profit with the community since they are the reason why such gain has been produced. By using renewable energy and the best types of equipment available for cooling and operation, MetaMiner has a good business plan to bring the power back to small miners.
With a complete Whitepaper, the level of detail about the operation makes anyone who wants to start their mining operation viable since everything needed to know about it is well explained. This is in line with the principle of transparency, which is very strong within the company's culture.
Besides all that, a Metaverse play-to-earn game is in development. In the game, the players run a mining facility and manage it according to available resources. The players can buy GPUs, ASICs, mining rigs, customize the site, deal with climatic variations. An in-game wallet will store the mined coins, including an in-game currency that users can withdraw to the off-game wallet so it can be converted into real profit. Also, the players can turn their farms and machines into an NFT.
MetaMiner will launch the project 02/20 first in PinkSale on the presale stage, then available at PancakeSwap. The company plans to launch its token on the ETH network shortly. The project was audited by SolidProof, a Tier 1 audit company based in Germany.
MetaMiner is focused on bringing enterprise-level mining structure to the crypto community. It was founded by three individuals passionate about the principle of decentralization with years of experience in mining cryptocurrencies. Learn more about the company at www.metaminer.world.
Video URL: https://youtu.be/13zm9WYFqIc
Release ID: 89064278
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BBS-Bioactive Bone Substitutes Plc: Managers' Transactions – Jarmo Halonen
- EVERI EXECUTIVE CHAIRMAN OF THE BOARD, MICHAEL RUMBOLZ, ELECTED AMERICAN GAMING ASSOCIATION CHAIRMAN
- Exchange Traded Concepts to Close and Liquidate Armor US Equity Index ETF
Create E-mail Alert Related CategoriesPress Releases, The Financial Capital
Related EntitiesDividend, Bitcoin
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!