MXC launched PoS pool, more "Cloud Miners" work on MXC Exchange
ACCESS Newswire
NEW YORK, NY / ACCESSWIRE / December 27, 2019 / With the development of network technology and the richness of network products, a new group of the netizen is emerging-they are called "Cloud Players". With the convenience provided by the network, they can enjoy the happiness of others without walking out of their room.
In the crypto world, there is also an emerging group of "Cloud Miners". While the old miners are busy for purchasing rocket-high-price mine machines and the high-performance servers, mining by consuming a large amount of electric power and earning the few token rewards by contributing the mere TPS as the node of projects, the "Cloud Miners" have already started cloud mining and Staking, to break the door of the traditional mining world.
What is Staking and how to participate?
Briefly speaking, Staking is proof of staking---It gains earnings by pledge the tokens of your own via proof of right. What is different is that the dividend earners do not have to purchase the dear network server, set complex mining programs, pack trading information, maintain the normal operation of the network, or participate in community governance like the miners in the past time. What they just have to do is simply to deposit the token or coin to the designated exchange, wallet or PoS pool. With time goes by, the token deposited will generate interest (usually the interest is the same as the token deposited).
In other words, it is more likely that you deposit your money into a bank, and the bank will pay you the interest after a period of time. If we put aside the variation of the exchange rate, you are earning the money without any loss.
Since PoS became popular with EOS being the supernode, there are a large number of projects supporting PoS now like Suter, DOS, SERO, etc. some even with an estimated annualized rate as high as 50%. Staking has become an irrevocable trend in the cryptocurrency market.
To some extent, the scale and coverage of cloud computation power and online PoS have greatly surpassed the expectations for the small and delicate mining fields. Their influence is already closed to those Internet magnates of great scale. With competition intensifying, the factors of fundraising scale and speed & quality of block generation has become as important as the sight of investment and the judgment of details; building a profitable cloud mining system has become as important as the success of the project.
Currently, we can join PoS via the following ways:
1) PoS Pool of Exchanges
As one of the world's leading blockchain companies, MXC Exchange has long been established by its PoS businesses. There are two kinds of PoS on MXC PoS Pool, one of them is the Savings. Users who have the position of the token supported by the Savings, like PCX, BHD or VSYS, are able to join it and gain dividends with an estimated annualized interest rate from 66.66% to 1.88%. There is no lock for Savings, so users can trade or withdrawal at any time.
The other kind is the PoS Stakings. The tokens in Stakings will be locked for a certain period of time, but its interest rate is usually higher than Savings. For example, the annualized interest rate of SUTER is as high as 50%, nevertheless, it has a relatively longer locking period-locking at least for 30 days.
However, there are also tokens with a high-interest rate but a short locking period. For example, DOS has an annualized interest rate of 48% with a minimum locking period of only 5 days. Users can diversify their investment by joining these high yields but lower risk programs.
2) HashQuark
HashQuark is a mining pool focusing on the public chain of PoS, DPoS, and other consensus mechanisms. It has a professional background and rich experience. In addition to Cosmos, HashQuark has become the creation node and supernode of many public chains including IRISnet, Cybex, CyberMiles, V-SYSTEMS, VeChain, etc. and users of imToken have the opportunity to obtain higher and stable Staking income.
There are many PoS validators on the market, but HashQuark is first-class in terms of security risk control and team background.
To solve the security problem, HashQuark and SlowMist, the top-notch security agency, jointly launched Cosmos's certifier defense solution. It has a complete solution for DDoS attacks, node intrusions, software and hardware crash, and leakage of node-related keys. Besides, HashQuark adheres to the traditional bank-level internal risk control standards by setting up dedicated network lines to ensure security.
It is worth mentioning that HashQuark was funded and established by Hong Kong Fintech company HashKey Group, and Xiao Feng, chairman of HashQuark, is also the chairman of HashKey Group.
3) Cobo Wallet
The Cobo wallet was founded by Shenyu. The reason why it stands out among a large number of wallets, on the one hand, is based on its good reputation in the industry, on the other, it is its unique deposit-to-gain-interest function, which is what we call PoS. At present, Such projects as DASH, VET, DCR are available on the Cobo wallet.
In the words of Shenyu: "The wallet is a pure technology investment and there are no ways for profit. Besides, there are a lot of asset security issues." But when it combines with PoS Staking, a business logic that has never been imagined has formed.
In addition, there are a large number of cloud PoW miners in the industry who are rushing to the mining industry day and night.
Cloud Computing Power is Becoming a Trend
In the initial stage of Bitcoin mining, personal computers were able to mine. It was the era of "everyone mining". However, with the development of the industry, the scattered miners shifted and converged into mining pools which gathered distributed computing power. Mining has become professional and large-scale industrial entities, and the threshold for personal mining is becoming increasingly high.
Compared to PoS staking, PoW cloud mining has actually sprung up as early as 2013, and its business logic is relatively complete. In the entire cloud computing power ecosystem, there are chip manufacturers and mining machine manufacturers in the upstream, mines and mining pools in the midstream, and miners in the downstream. The mining machine manufacturer sells the mining machine to the miners, and the coins mined by the miners are sold in the secondary market. This relatively primitive operation method may be the only few self-consistent business models other than an exchange.
With the gradual scale of PoW mining, intensive large computing power will become more and more common, and an individual miner will become virtually very hard to survive. Cloud computing products, however, provide an effective way to lower the threshold of the mining industry.
This will allow more people to share the results of the mining industry's growth, and at the same time allow a wider user group to participate in this industry, and further implement the spirit of the blockchain.
Nowadays, both PoS and PoW mining has entered the era of scale and intensiveness. Some merchants are laying large-scale mines in areas with low electricity costs (even setting up small power stations themselves). With a scale economy, the price of the mining machine is lower. Besides, the merchants choose to build the machines at well-designed rooms in areas of the best geographical and temperature advantages to improve energy efficiency. Though these measures, the revenue of users is greatly improved.
Cloud computing power helps mining companies access online traffic and industry resources such as mines and mining pools. They obtain profit by leasing computing power to users. These are the "cloud players" in the blockchain industry.
If mining can become a booster for the industry, its impact on the entire industry is undoubtedly huge. In addition to policy bottlenecks, the number of participants is also an important aspect that hinders the development of the industry. Perhaps the mining industry can attract more people to enter the blockchain industry through tangible benefits.
