âī¸NFT Mining
Eco-friendliest way of mining crypto
Last updated
Eco-friendliest way of mining crypto
Last updated
In a traditional world, a mining rig is a powerful computer used for solving cryptographic proofs and crypto mining. There is various specialized hardware used for crypto mining such as CPUs, GPUs, FPGAs and ASIC miners. These computers/machines were designed to solve Proof-of-Work algorithms most efficiently.
Proof-of-work (PoW) is a form of cryptographic proof in which one party proves to others that a certain amount of a specific computational effort has been expended. Once miner completes a "block" of verifications, he is rewarded with certain amount of cryptocurrency from crypto network. Some of the networks that are still using PoW algorithm are Bitcoin, Litecoin and Dogecoin.
Proof-of-stake (PoS) protocols are a class of consensus mechanisms for blockchains that work by selecting validators in proportion to their quantity of holdings in the associated cryptocurrency. This is done to avoid the computational cost of proof-of-work schemes.
It is widely accepted that PoS is a much more advanced crypto mining system than PoW due to its energy efficiency, security, and cost-effectiveness. One of the world's biggest and most well-known currencies, Ethereum, has switched from PoW to PoS which will signal a revolution in crypto mining.
As PoW systems are becoming the "thing of the past" and physical mining will be replaced with PoS, we have come up with the gamified solution which can reform PoW as we know it today.
Crypto Idle Miner and NFT City Miner aim to become a specific type of tribute to PoW mining. At the same time, they will also represent the future of crypto mining that we would like to see - the eco-friendliest way of mining, gamified NFT mining.
To start with Hora Coin mining, you will need to find a spot for your Hora Miner. And there are two ways of doing that:
Acquire a Building NFT from the marketplace and put your miner there for the maximum potential of your earnings.
Or you can contact a building owner and apply for renting a miner spot in exchange for a small cut of your Hora Coin profits.
The ultimate goal is to own Building NFT along with Hora Miners.
This concept of mining cryptocurrency with NFTs is unprecedented in gaming. With it, we will have a full-scope simulation of a crypto mining business in which users will be able to make profits in an immersive and engaging way.
In the example above, it is shown how the mining distribution will work inside NFT City Miner. With our backend and set of smart contracts we will be randomizing block rewards to building owners with a probability based on their network share (megahash power).
Once a building mines a block, and gets a $HCOIN reward it will be automatically distributed to the Building and Hora Miner owners. For every miner spot, Hora Miner owners agree with a building owner for their renting price (percentage of Hora Coins mined).
Building owners will be obliged to pay a certain fee (electricity bill) in $MATIC in order to operate. That amount will be used to cover development costs, as well as all transactions made for Hora Coins distribution.
If the electricity is not paid, the building power supply will be disabled. The electricity bill can be paid by anyone on Polygon network, so the users inside the building can cover the bill if needed.
All mined blocks will be visible on our website, and inside the app.
