MINY, the Hong Kong based blockchain startup, has announced the launch of it’s MINY platform to facilitate crypto mining. As is common knowledge, crypto miners have the luxury to choose to mine the most valuable coins. However only a very few miners are capable of earning huge profits. MINY is launching a platform where miners from different countries and with different levels of expertise and knowledge about mining can come together and share in their resources to earn mining rewards.
The primary reason why a lot of individuals are limited from venturing fully into cryptomining is the high costs that are associated with it. MINY understands the need for every miner to maximize his or her profits. For this reason, it has identified the problem lies in miners not having enough resources. As such, the platform has devised three major strategies that are a sure way in which miners will earn profits even though they have limited resources.
Cloud Mining Pool
To help miners to maximize their profits, MINY combines its computational power by bringing various miners together. The users on the platform join a mining pool where they bring together their resources. Then the profits that are realized from mining are distributed proportionately according to the amount that a user has in their mining pool.
This is another significant way that MINY is using in a bid to ensure that their users can reap big. The cryptocurrency market is very dynamic, and this means that the value of different coins keeps changing over time. As a way of making sure that miners do not suffer from losses, MINY uses an AI algorithm that will analyze the future value of various coins. This will then help to focus the mining activities at only those coins that are valuable. The MINY AI algorithm is accurate in its predictions, and as such, it helps to increase the mining efficiency.
The MINY platform has developed a native token, MINY, which is a self-established cryptocurrency. The token is obtainable by earning mining rewards and commissions, starting at a price of $1. It is also designed with an artificial scarcity, meaning it cannot lose value, but rather increases when parts are sold. After 12 months it is released and can be traded on external exchanges and is then pegged on economic principles. In addition to the many advantages of the MINY token it will be available for renting computational power on the Miny platform and for purchasing mining equipment.
It is very easy to join MINY’s cloud mining pool and become one of the many users that are benefiting from this great initiative. Once users open an account, they can deposit their funds, which will be used to rent computational power. Besides this, they can purchase MINY tokens that users can also use to rent computational power. The profits that will be accrued from the mining rewards will then be shared among the users according to the amount that they contributed towards their mining pool.