Categories: Market

This decentralized standard hash rate token protocol solves miners’ problems

Press release

MINE Community is the first decentralized multi-chain standard hash rate token protocol. The project was developed with the sole aim of solving the urgent problems of multi-chain miners like Bitcoin (BTC), Ethereum (ETH), Filecoin (FIL), Litecoin (LTC) among many.

Mining is an important activity in the cryptocurrency industry. It is often viewed as the backbone of space. Without them the network would be dysfunctional and like any other crypto activity, but it brings its own set of challenges. As the industry evolves, technological innovations such as the MINE network are redefining the concept of cryptocurrency mining by providing solutions to the industry’s challenges.

The MINE Community aims to standardize the mining performance from different mining pools for the list of mining projects. The protocol will also issue various standard hash rate tokens (pTokens). Each standardized pToken is a synthetic token that represents part of the mining power of a particular blockchain. The liquidity of hash rate tokens is more beneficial as it can be integrated with cross-chain decentralized financial protocols such as DEX, Polkadot Lending Protocol, Ethereum Chain, Huobi ECO Chain, Binance Smart Chain and other protocols.

MINE Network also seeks to leverage Substrate’s Off-Chain Oracle Workers (OCWs) to track on-chain sales data from multiple mining projects in real time and upload sales information to ensure integrity, openness and transparency for retail mining companies.

Passionate about transforming the mining industry

MINE Network is an emerging blockchain project aiming to revolutionize the mining industry. The project is driven by a relentless passion for solving cross-blockchain mining problems that often tend to hinder miners. With a new open source system and leading technology applications, the standard hash rate token protocol is poised to lead the next wave of crypto mining that will move the industry forward. The project revolves around building a decentralized mining system that is profitable for miners in all areas and also beneficial for the environment.

MINE Network is fully dedicated to the positive impact on the mining sector. From providing end users with all of the tools they need to easily deploy their own serverless mining configurations without purchasing mining equipment and incurring huge mining, maintenance and upgrade costs, to enabling a highly reliable and standardized, self-sufficient operation for user ecosystem and contribute to the introduction of clean energy in the mining sector, protocols represent a disruptive innovation with promising potential.

MINE Network will transform the mining sector by introducing a leading multi-chain standard hash rate token protocol – an industry leading solution provider. The protocol will improve carbon emissions by encouraging miners to use more environmentally friendly mining processes.

The project is also building the first mining game based on real mining rewards with a sustainable in-game economy that combines regular mining with GameFi.

With a team of creative people like Andreas Aschenbrenner (Project Manager & Head of Communication), Michael Lee (Head of Development), Vladan Falcic (Head of Advertising), Mahmoud El Hallab (Head of Operations), Zander Mai (Head of Content), Philippe Dee (Senior Blockchain Developer) and David Lee (Senior Smart Contract Developer), MINE Network is ready to make continuous progress in the mining sector.