Prospective miners initially encounter difficulties due to the high costs and limited availability of Application Specific Integrated Circuits (ASICs). This scarcity is caused by the manufacturers’ monopolistic tendencies. Moreover, even if they manage to purchase ASICs, these devices are designed specifically for mining Bitcoin and are not compatible with other cryptocurrencies like Ethereum.
In contrast, MaxiMine offers a solution that grants users complete flexibility to switch between different tokens and mining pools based on their assessment of profitability and returns. By providing multi-token mining capabilities, MaxiMine eliminates the necessity for miners to acquire specialized hardware dedicated to mining specific currencies.
The primary goal of the MaxiMine platform is to make the mining industry more accessible, particularly for users who have limited experience in this field. The team behind MaxiMine believes that their approach to cloud mining can address the challenge of increasing participation and adoption in the mining industry. Unlike traditional cloud mining, which involves selling or renting hashpower, MaxiMine offers liquidity in hash power through the use of tokens.
In early 2019, the project gained significant media attention when its platform experienced a substantial price surge, leading to its inclusion in the top 100 rankings. Since its launch in 2017 and the completion of its initial coin offering (ICO) in 2018, the platform has been focused on globalizing cloud mining and streamlining the entire process. It operates as a distributed mining pool revenue system, and its business model revolves around users staking tokens in exchange for convertible hash power for mining.
MaxiMine offers users the opportunity to utilize high-quality mining equipment without the need to handle the challenges of equipment procurement, ongoing electricity expenses, and other technical considerations. The team behind MaxiMine is actively involved in the construction of mining facilities, using the mining profits to expand the mining pool and enhance the value of the MXM tokens.
The MaxiMine Decentralized Operating System (MDOS) revolves around the MaxiMine protocol, which serves as its foundation. This protocol is secured by the collective hashing power generated by all the cryptocurrency mining farms within the network. The architecture of MDOS is structured into three primary layers:
- Transactional Layer. This layer features a directed acyclic graph (DAG), in which transactions take place between wallet addresses without reliance on blocks for the storage of the relevant data. Instead of this, each wallet is supposed to operate as a blockchain of sorts in itself and keep track of transaction inputs and outputs.
- Functional Layer. This layer plays the role of the host for the smart contracts. Concerning the transaction layer, this layer should operate as its “sidechain”, with support for data transfers and interactions with it.
- Application Layer. The application layer functions as an interface for collecting and accessing data featured in numerous smart contracts, enabling the dApps to interact with the two remaining layers.
By establishing its facilities in northern China, MaxiMine has effectively managed to reduce operational overhead costs, minimize power waste at the regional level, and lower its environmental impact. The developers of MaxiMine plan to set up the initial destinations for the delivery of both prototype and advanced mining systems, including Bitmain’s ASIC for Ethereum. These systems are designed to be more energy-efficient compared to traditional GPU mining rigs.
Operating in this strategically chosen region enables MaxiMine to maintain a lower entry price, especially in a global context of rising energy prices. The company envisions mining as a worldwide endeavor, and its mining pool is ambitiously designed to become the largest one globally.
Who are the founders of Maximine Coin (MXM)?
The project is led by a group of experienced professionals, with Hua Cai serving as the Chief Technology Officer (CTO), Quinn Li as the Chief Marketing Officer (CMO), and Cheng Zhenyu as an advisor. Notably, Cai Hua has been managing mining farms in northern China since 2013.
What is Maximine Coin (MXM) used for?
Mining Rewards
Investors who hold MXM tokens are effectively investing in MaxiMine’s mining operations and, as a result, are eligible to receive a portion of the mining rewards generated by the mining farms.
Staking Rewards
MXM token holders have the opportunity to stake their tokens on the MaxiMine platform and earn staking rewards. This means that anyone who purchases and stakes MXM tokens can participate in the staking of crypto assets.
Deposits
Users can deposit their MXM tokens using smart contracts, and, while the contract is active, they will receive a proportional amount of hashing power as a result.
Cloud Mining Power
Building on this concept, cloud mining companies can establish mining farms and offer rented hashing power to miners. As a result, miners no longer need extensive technical expertise or significant initial investment capital for their mining equipment.
How is Maximine Coin (MXM) unique?
MaxiMine possesses over 20 patents related to cryptocurrency mining, including the BTC-BOX, a mining rig housed within a shipping container. This self-contained unit is designed for optimal climate control and durability, allowing for easy and swift set up in various locations. By establishing a reward distribution platform on a public blockchain like Ethereum, MaxiMine ensures transparency and openness that centralized cloud mining platforms cannot offer. The platform’s mechanisms, fees, and processes are transparent, enabling participation from anyone.
To facilitate seamless interaction with the MaxiMine ecosystem, the MaxiMine app serves as the primary control interface for investors. The team opted for a mobile application to simplify design functionality and mitigate the risk of web and phishing attacks. The app enables users to check balances, monitor the status of active contracts, manage profiles and accounts, and access contract-related rates.
MaxiMine employs a straightforward blockchain-based approach for distributing mining rewards. By combining staking, smart contracts, and its native token, MaxiMine establishes a “cloud mining pool” system that is as transparent and open as the underlying blockchain technology itself. Additionally, MXM token stakers or investors receive 80% of their mining rewards based on their computing power. The remaining 20% of mining rewards are allocated for operating expenses and reinvestment in mining farms.
How many Maximine Coins (MXM) are in circulation?
Maximine Coin has a current supply of 16,000,000,000, with 1,649,000,000 in circulation.
How is the Maximine Coin network secured?
In Maximine Coin PoS systems, a consensus is reached through the agreement of a majority of validators based on their staked coin holdings. This distributed consensus mechanism ensures that no single entity or group can control the network. The collective agreement among validators adds a layer of security by requiring a substantial majority to validate transactions and create new blocks.
How do I buy Maximine Coin (MXM)?
The EVER token can be used for a wide range of purposes, like staking and governance.
MXM tokens can be easily purchased by following the following steps.
Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy MXM through your trading account by swapping with BTC, ETH, or USDT pairs.
Which Cryptocurrency Wallet Supports Maximine Coin (MXM)?
The PTPWallet platform supports many cryptocurrencies, with MXM soon to be included. Because of its vast use case, PTPWallet has grown to become one of the most popular platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. The platform offers a simple user interface, is supported by both Android and iOS devices, and comes with its own mobile wallet app.
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