Mining evolves as a service with the aid of MinedBlock
Mining is a fundamental part of the blockchain
for any crypto whether PoW or PoS, even other more recent algorithms such as
PoE or PoP; some tokens starts pre-mined at 50% or even 100% of the available
supply. However, most work running on blockchains with some of the existing
mining algorithms; as is the case with Ethereum. The miners who support the
network as the basis of the decentralization model become centralized as the
increasing cost of start to operate.
To change the course of events, MinedBlock has designed an equitable model for investors. Several mining ICOs have been carried out during 2017 and 2018, sometimes offering a portion of the mining revenues in exchange for investment. However, making the initial sale without registering a regulated security token resulted in fatal outcomes. Mismanagement from the earliest days can erode even the most successful project, increasing the risk of failure for founders and investors. MinedBlock presents a mining operation focused on mining as a service, and the MBTX token is part of the equation.
The foundational core of the mining operations center that will conduct mining as a service
To house the project, a dedicated mining facility will be created that will focus on extracting multiple coins from the top 50 by market capitalization to ensure a wide range of revenue streams for customers to benefit from. Through the proposed large-scale operation, we will help improve currency decentralization where large groups of currencies already dominate the hash rates of popular coins. From the outset, there is an indication of a level of decentralisation within the territories themselves, through the global distribution of mining data centres.
The founders, Greg Wales (CEO) & Paul Bishop (COO), with Matthew Ruff (CSO); identify and manage the risks associated with the company’s code of ethics. They are also responsible for catalyzing projects to take advantage of business opportunities with impact. In short, the goal proposed by the founders, oriented towards mining as a service, will challenge the usual difficulties of cloud mining services through a process based on STO, transparency and equal participation.
The solution to the Uncertainty of “Cloud Mining” and Other Services with MBTX
MinedBlock is running a Security Token Offering using Polymath ST20 fully compliant tokens. This configuration allows them to raise funds to speed up the process described in the roadmap in an automated way focusing on the most critical aspects. In this way, it accelerates the management process on the part of the core team. A large-scale mining operation without the need to purchase, configure and maintain mining equipment and set in a transparent environment. For this, the MBTX security token will feed a feedback ecosystem, generating an ecosystem with the premise of keeping mining as a service.
MinedBlock says that it will offer a fully managed mining service, in which it will be possible to count on specialists to take care of the equipment. Maintenance and upgrades are vital to ensure efficiency and profitability remains at its best. It is an essential detail in an environment that neither sleeps nor rests; the aspect of working with maximum productivity without downtime makes all the difference. Miners process calculations 24 hours a day, seven days a week, which is why a mining facility requires attention, maintenance, and repairs.
Details of the STO event around the MBTX security token
MinedBlock Holding Limited will own 75% of the total Mining Service of which shareholders will own 95%. MinedBlock Limited will own the remaining 5% and will own 25% of the Mining Service. Also, it will use mine revenues to grow the service to increase revenues. Participants in the sale of security tokens will be required to pass the KYC controls through the Minedblock.io website to enable inclusion in the white list by a smart contract.
- The MBTX Security Token Offering is currently running with a 5% bonus on purchases. MBTX tokens are priced at $0.15 each
Documentation and transparency as an anti-fraud filter
To satisfy the requirements of the U.S. Securities and Exchange Commission (SEC), U.S. investors will have to qualify as Accredited Investors. We strongly recommend that you read the presentation document to understand the details, requirements, and risks associated with investments in cryptocurrencies and mining operations. A minimum target (SoftCap) of $1,000,000 has been set for the project to be established.
Valuation of the investor’s commitment
MinedBlock are charging a nominal fee for the KYC process, which avoids fraudulent users posing as investors… each user who completes the KYC process will be credited with the equivalent number of MBTX tokens of the costs. In this process, the MBTX token will be delivered in proportion to the cost of the KYC process, at a discounted value of $0.075 each. This ensures that only participants who want to go through the process are taken seriously, reducing unnecessary costs for launching the company’s operations.
Characteristics of services that can make the difference from mining as a service
To be a reality as a sector, mining services must not be different from other conventional services. Professionalism, transparency, immediate attention to the client/investor. These are details that make a difference. In this way, the sector shows a significant change with audited projects, registered as a security and complying with regulations. The services mentioned in the Minedblock documentation mention the following characteristics. With MinedBlock, it is not necessary to decide which currency or token you want to extract. MinedBlock counts on exploiting a variety of cryptocurrencies in favour of portfolio diversification. Such decisions make it easier to get proper distribution and maximize profitability.
About the hardware that is planned to be hosted in the facilities
As we find in the documentation, MinedBlock will use a mixture of ASIC units along with GPU (Mining Rigs) based equipment. The initial plan is to divide the investment among the following material, pending new releases from manufacturers:
- Bitmain Antminer S15 and S17 – BTC Mining
- Custom Built GPU Mining Rigs – ETH & alt coin mining
- Host services at MinedBlock will use fully secure data centers.
The cryptocurrencies or tokens obtained from mining operations shall be kept in cold storage. This method is commonly used for exchanges and other services, driving away attackers on most things. Remember that cold storage is fully encrypted until it is time to make use of such cryptocurrencies or tokens.
Professionalism and transparency in the administration.
With the platform, it is intended that users/investors save time and effort. In the blockchain sector, we find thousands of crypto coins or tokens; this means that only experts can configure equipment for any mining process. Expert process management sets and maintains mining equipment. This zero-configuration process opens the door to users who do not have extensive knowledge. No client configuration is required. Careful management can successfully save high operating costs.
Interesting Links and Social Networks from MinedBlock