Protocol Overview
MINE Network is the first to provide a decentralized standard hashrate token protocol that solves a multitude of issues that impede miners on multiple blockchains.
How Can MINE Network Help You?
MINE Network allows you to:
1. Get all the benefits of traditional mining without the hassle.
We provide our end-users the tools to easily implement their own self-reliant machineless mining configurations without all the expensive start-up costs or the environmentally hazardous outdated equipment.
2. Bypass the high costs of mining gear maintenance and upgrades.
The vast majority of traditional miners are faced with a lack of or low liquidity for their assets. This is due to the constant updates or issuances of new mining models and the upkeep of traditional mining. These never-ending updates of new mining models do not just affect individual miners but the entire ecosystem across the board.
3. Operate in a highly credible and standardized self-sustaining ecosystem.
Current cloud mining pools adhere to no real standards and are notoriously known for operating in a centralized manner. MINE Network considers a variety of parameters to compute correctly and ensure an open and tokenized market. Our network will also function as a fully transparent DAO, with the intention to become a decentralized protocol with complete community autonomy.
4. Contribute to and support the adoption of clean energy in the mining sector.
MINE Network will incentivize miners to adopt green eco-friendly practices by giving them an opportunity to tokenize their Hashrate. Our vision is to create a fully autonomous and decentralized mining pool exclusively powered by green energy from renewable sources.
MINE Network: Solutions for Change
Problems Plaguing the Industry:
Liquidity Hindrances for Miners
Mining Pools Lack of Standardization
Mining Pools Lack of Credibility
The Solutions MINE Network Offers:
Liquidity Hindrances for Miners
Mining revenues are regularly funneled back into the upkeep and upgrades of mining equipment. As a result, what was formerly considered an asset has become more of a liability. MINE Network allows our users to replace these "liabilities" with pTokens, a digital asset that never needs to be upgraded or maintained.
Mining Pools Lack of Standardization
We formulated and implemented a three-step process for standardizing the hashrate which will give the precise valuation of mining power for each pToken: First, by analyzing particular metrics to set the energy consumption ratio. Second by evaluating the entire mining pool's energy consumption ratio, and thirdly upgrading the energy consumption ratio of the ming pool.
Mining Pools Lack of Credibility
Holders of MNET tokens will be encouraged to participate and exercise their rights to launch governance initiatives, alter governance settings, and apply for grants to establish a fully self-regulated and reliable ecosystem. The foundation of MINE Network's decentralized bureaucracy is based on a community-controlled autonomous DAO operated on an on-chain governance mechanism.
MINE In Comparison
1) CROSS-CHAIN EFFICIENCY MINE's efficient usage of multi-chain functionality and ability to employ hashrate-pegged tokens in cross-chain DeFi apps gives us the competitive edge.
2 ) ECONOMIC INCENTIVES MINE Network's sophisticated protocol is the first to incentivize miners to use their pTokens(hashrate tokens) in different DeFi protocols across multiple blockchains. Unfortunately, similar projects encourage miners to stake their hashrate tokens to earn mining rewards without any further utilities, which causes further constraints to the liquidity of their hashrate tokens.
3) MULTI-CHAIN CAPABILITIES Our cross-chain capabilities allow us to standardize mining power while simultaneously and seamlessly issuing standard hashrate tokens for over a dozen mining projects such as BTC, ETH, LTC, BCH, FIL, and XMR.
4) INFINITE SCALABILITY The first completely limitless and scalable hashrate mining protocol in the industry. MINE Network's open system structure allows any existing mining pools outside our network to freely enter or exit the standardized mining pools within our system after standardizing the mining power.
5) DATA TRANSPARENCY To ensure openness and transparency for retail miners, MINE Network will leverage the power of Polkadot's OCW off-chain oracle technology to monitor the output of each mining pool.
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