The advent of blockchain technology and its adoption has brought to limelight a number of challenges that has plagued this industry and one of them is the mining technology, However, Batmine technology has proferred solution that will reposition mining technology for all. Before we delve into these solutions, we will briefly discuss bitcoin mining and the types.
Mining is a peer to peer computer process intentionally designed to verify and secure bitcoin transactions,
this technology makes is resource-intensive and somewhat difficult because each number of blocks found each day by miners must remain steady. For mining to be successfully completed, each Individual blocks must contain validated proof of work. The validity of this proof of work is based on the verification done by other bitcoin nodes each time they receive a block.
The sole aim of mining is to provide security for individuals as well as build a tamper-resistant consensus. The Incentive for miners is transaction fees as well as a subsidy paid for all newly created coin. This serves the purpose of distributing new coins in a decentralised manner as well as a motivation for miners to provide security for the system.
TYPES OF MINING
There are several types of mining and they are;
Home Mining: Home mining is majorly personalized and as the name implies, is done by individuals willing to mine cryptocurrencies. Over time, it has been of good knowledge that home mining is less profitable and can bring about profit-making on a large scale and this is as a result of the cost of utilities. The energy used in mining is very high and this cost is one an individual may not be able to effortlessly cover.
Cloud Mining: With cloud mining, there is no need for the extra cost of managing electricity, software, hardware, bandwidth, heat, installations, hosting issues and several other offline issues. Cloud mining comes in easy in that a user only needs to purchase mining capacity of hardware in data centers; with this in place, mining can be done and easily managed in the cloud. However, it is difficult to host this mining on a large scale as it can only be done on a smaller scale or individually.
THE SOLUTION: BATMINE
Batmine serves the mining purpose by restrategizing and setting a user-friendly platform that helps in reducing the cost, speed and energy usage of mining. The following are the strategic features;
Energy
With the current challenges of mining which exhausts the limited supply of electricity, there is a need to use a more stable source of power which is limitless. Batmine embraces the use of green energy as a source of electricity supply; this will stabilize the dependency on the supply of power from government authorities as greenhouse energy can easily be self-provided. By so doing, there is low electricity cost and low electricity usage by miners.
Speed
Miners are constantly in a competition to complete a hash which allows them to define a new block that guarantees them a certain number of created blocks. There are no shortcuts to this because it is solved by computational power; by correctly hashing the block, miners prove their investment of work worthy and are duly compensated with a certain number of blocks created. Hence, there is a need for speed in mining power as this gives miners a level playing ground for easy competition. Batmine aims to supply one of the best speed currently operating or that will be in operation at that time. By so doing, miners can complete hash in a short time. For BTC mining, the upcoming miners that feature up to 55 Th/s will be used
Security
From building a mine in the safest part of the world Europe, to providing security measures to stampede the effect of crypto crime, batmine provides a good form of capital investment safety for all. This
Summary
Are you in need of an extremely low electricity consumption miner?
Are you tired of the high electricity cost of mining?
Do you need speed as well as good mining conditions to increase your blocks?
Batmine provides this and many more. It is just a step away.
Check out the following channels to learn more about BatMine
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
BitCoinTalk ANN: https://bit.ly/2FpEVMq
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