Mining is the process of adding transaction records to Bitcoin's ledger on past transactions and a mining rig is a daily metaphor for a single computer system that does the calculations required for mining. The past big transaction book is called chain block because this is a chain block. The block chain serves to confirm transactions across the network as it has occurred. Binding nodes use block chains to differentiate legitimate Bitcoin transactions from attempts to refinance coins that have been issued elsewhere.
Mining is deliberately designed to be an intensive and difficult resource so that the number of blocks found every day by miners remains stable. Individual blocks must contain work evidence that should be considered valid. This work proof is verified by other Bitcoin nodes whenever they receive a block. Bitcoin uses the hashcash proof-of-work function.
The MoonLite project will operate in Crypto-Currency Mining space, and is planned to start with most of which is Bitcoin, Bitcoin Cash, DASH & Litecoin on an industrial scale. Operations will begin in August 2018, and aim to be in time, one of the larger global crypto mining companies. We will build our data centers in countries where contractual supplies are clean & green, reliable, cost-effective, and politically stable. Our first data center is planned to be in the country of Iceland, where the average tariff for industrial connections is about 0.045 USD per kWh. We have the best operational team to oversee and maintain our effective data center operations and we have the most experienced and qualified advisory boards to help plan and implement a smooth launch.We are very selective with whom we invite to be part of our team, and are only involved with the best talents.MoonLite will incorporate a number of emerging technologies and systems that will work in synergy to maximize the benefits and efficiency of cryptomining scale.
The MoonLite project aims to add value to all token holders using the latest technology, launched in the most efficient manner, and run by the most appropriate team to meet and exceed all performance and growth targets. We will only use 100% clean, green, and sustainable energy resources.MoonLite will embrace youth, technology, fun, and aim to be the best talent-making company available. We embrace Blockchain Technology, and will continue to advance companies and teams in parallel.
The proceeds from the mining operations will be divided as follows:
• Dissociate percentages into paper currency for traditional operational and investment costs, ad-hoc re-investment into operations, and other crypto and blocking opportunities
• Maintain a certain percentage of crypto currency for appreciation and investment value through, investing in some crypto-protected funds, and investment despite other traditional investment channels
• Maintain a certain percentage of the crypto currency to be used for the purchase and expansion of the planned equipment.
MILESTONES
All Milestones will be audited and reported on by an Independent Reputable Third Party Auditor. All reports will be published
2017
- February 2017
Concept and Business Plan Development - 24 November 2017
White Paper Release & Pre-Swap Opens - 30 December 2017
Pre-Sale Phase 1 Begins : 100%-300% Token Bonus
2018 - 10 January 2018
Smart Contract Audit Completed by ‘Smart Dec’ - 31 January 2018
Pre-Sale Phase 1 ends at 23:59 GMT ~ Pre-Sale Phase 2 begins : 50% Token Bonus - 28 February 2018
Pre-Sale Phase 2 – Ends at 11:59 GMT - 28 February 2018
ICO Opens – 50% Bonus During First 12 hours - 15 March 2018
ICO Closes - 02 April 2018
Begin Data Center Construction and Fitting - 02 July 2018
Mining equipment to arrive and be installed - 01 August 2018
Data Center to officially open and commence operations
Moonlite Strategy
The largest and most stable currency mine uses the most efficient equipment
Mine on an industrial scale and capitalize on economies of scale and reduce proportional overhead costs
Aggressive expansion and replacement of policy tools
Mining in some pools, and nodes inside the house for each currency
The cost of manpower and human resources is maintained at least in areas with low electricity costs
Redundancy is built into every system
The split results into a ratio of 60:20:20
Strength and Competence The essence, strength will be achieved in the introduction and maintenance of security and redundancy measures:
Some stable currencies are mined
Some pools are managed as well as local nodes
Some power supplies and internet connection
Some mining sites
Backup server
Some cool and cold storage wallets
Backup PSU, hardware and system
We are a blocking company and believe in 100% public transparency. All operational, investment, and executive decisions are sent to a public vote, where the token holder has the final say. In addition, all financial records, crypto, and trade records will be independently audited each year, with results publicly published.MoonLite will issue MoonLite Tokens (MNL) through an audited and tested Intelligent Contract, established to run in the Ethereum ecosystem .
ICO was launched on 28 February 2018 at 12:00 GMT and ended on March 15, 2018 at 12H00 GMT
Token Name:
Monlite Symbol: MNL
Standard token: Ethereum ERC20
Token Swap Price: 0.002 ETH = 1 MNL
1 ETH = 500 MNL
Swap Target
Token Buy-Back Information
Moonlite will allocate 35% of its annual corporate profits to buying back MNL tokens at a premium rate.
We see this approach as fundamentally different from most of the previous ICO’s that succeeded in raising funds for product development but failed to give investors any notable return.
We will employ the following methodology for calculation of the token repurchase price:
{[(35/100) x Annual Corporate Profit] x [number of tokens held/total tokens]} + Current Token Price
Simplified, Moonlite will distribute to a token holder who wishes to sell tokens in the repurchase, their share of the equivalent of 35% of the corporate net profits after Interest, Tax, Depreciation & Amortization in addition to the current market price for their tokens.
The first buyback will be offered to Presale contributors only, and will be offered in a closed purchase offer. If there is any remaining distribution available after the Presale Contributors buy back, it will open to all other token holders by way of a buy order on the public exchange.
Thereafter, we will offer repurchase deals using the same formula to all token holders every 6 months after the financial statements and auditing results have been prepared, by way of a buy order on the public exchange.
All token holders will receive notification of the offer amount within 2 weeks of releasing the half yearly financial statements, and will receive weekly reminders in the 4-week run up to the opening of the token repurchase session.
Effectively, Moonlite will place the buy order on the public exchange 6 weeks after the release of the financial results.
Coin holders will receive their buyback in the form of BTC or ETH.
BURN
All repurchased tokens will be immediately burned.
“Burning” means that purchased coins will be taken off the market, with the consequence that the total supply of MNL coins will decrease. This allows the net asset value of a coin to increase over time.
This option represents a fair way for everyone, especially when conducted transparently.
ICO TO IPO
Moonlite reserves the right to ‘go public’ by way of offering shares in a traditional IPO. At that time, MNL tokens will be redeemable for stocks.
This project will be run in iceland. Why Did we Choose Iceland:
- The country of Iceland is highly conducive to the international data centre business.
- First world European country that is highly technologically advanced, that is part of the European Economic Area
- Ranked 12 out of 189 countries on the World Bank’s Ease of Doing Business Index for 2014
- IMD’s World Competitiveness Yearbook 2014 ranks the Icelandic population’s IT skills as second in the world
- Exempt from VAT, and VAT claimable on all Data Centre Equipment
- Corporate Income Tax at 20%, with the possibility of a ceiling
- Long term, fixed energy prices by contract
- The World Economic Forum ranked the delivery security of energy in Iceland as the third best in the world
- 100% of electricity generated in Iceland is clean, and comes from hydro, geo-thermal, and wind sources
- Iceland´s robust infrastructure, secure connectivity, renewable energy supply, business environment and other key factors combine to position Iceland at the top of Cushman & Wakefield’s 2016 Data Center Risk Index
- Year-Round FREE cooling due to the cold Icelandic climate
- Super low Power Usage Effectiveness (PUE) of 1.07
- High speed, redundant fibre internet connectivity, both locally and internationally
- Iceland ranks no. 9 out of 189 countries on the World Bank’s Ease of Getting Electricity Index
- A large amount of correctly zoned land is available, as well as finished facilities suitable for data center operators, that is close to sub-station, fiber internet connectivity, and airports.
Website: https://www.moonlite.io/
Whitepaper: https://www.moonlite.io/wp-content/uploads/2017/11/Moonlite-Final-White-Paper.pdf
Facebook: https://web.facebook.com/MNLCoin/
Twitter: https://twitter.com/MoonLite_ICO
Telegram: https://t.me/moonliteico
Btctalk account: https://bitcointalk.org/index.php?action=profile;u=800280